What changed
This watch had previously recorded individual stock-quoted markets using first-wave assets such as NVDAc and GOOGLc. The newly observed expansion covers all six tokenized stocks added in the second wave. Representative snapshots include STC/TSLAc at roughly $55,500 liquidity and $193,700 24-hour volume, BLUE/MSFTc at about $22,200 and $185,300, and SDCARD/SNDKc at about $40,100 and $114,900. The pools were roughly 14 hours to one day old at observation time.
Why it matters
The rollout broadens the use of tokenized stocks as DeFi quote assets, creating multiple equity-denominated speculative markets and associated fee flows. This is not a conventional deposit vault, and no APY available to ordinary LP depositors was identified on the reviewed public surfaces. No external incentive was identified either. Swap fees are the observable economic source, but the pool-specific fee settings, beneficiaries and outside-LP access for these Base stock-paired routes cannot be established from currently updated public documentation.
Evidence
- Base — Coinbase Tokenized Stocks — Base's official page lists AMZNc, MSFTc, MSTRc, SNDKc, SPCXc and TSLAc among the Coinbase Tokenized Stocks on Base.
- GeckoTerminal — SEND/AMZNc on o1 Launchpad — The SEND/AMZNc snapshot showed roughly $25,300 in liquidity, about $90,700 in 24-hour volume and a pool age of about 22 hours.
- GeckoTerminal — BLUE/MSFTc on o1 Launchpad — The BLUE/MSFTc snapshot showed roughly $22,200 in liquidity and about $185,300 in 24-hour volume.
- GeckoTerminal — DOBBY/MSTRc on o1 Launchpad — The DOBBY/MSTRc snapshot showed roughly $13,200 in liquidity, about $39,000 in 24-hour volume and a pool age of about 14 hours.
- GeckoTerminal — SDCARD/SNDKc on o1 Launchpad — The SDCARD/SNDKc snapshot showed roughly $40,100 in liquidity, about $114,900 in 24-hour volume and a pool age of about 20 hours.
- GeckoTerminal — MOONBASE/SPCXc on o1 Launchpad — The MOONBASE/SPCXc snapshot showed roughly $18,500 in liquidity, about $17,600 in 24-hour volume and a pool age of about one day.
- GeckoTerminal — STC/TSLAc on o1 Launchpad — The STC/TSLAc snapshot showed roughly $55,500 in liquidity, about $193,700 in 24-hour volume and a pool age of about one day.
- o1 Launchpad documentation — o1 documents permanently locked Uniswap v4 launch liquidity and a normal 1% Base swap fee, while its production model checked on 2026-07-28 still lists ETH/USDC as Base paired assets and stock-paired routes on Robinhood, creating a documentation gap relative to the Base stock-paired markets now observed.
Limitations
The six liquidity and volume readings are not synchronized to one block or identical timestamp, so their combined totals are approximate. These are launch markets rather than deposit-style yield vaults, and no general-user APY was identified. o1's public documentation does not yet reflect the observed Base stock-paired route, so pool-specific swap fees, fee recipients, outside-LP access and the exact scope of permanent-lock mechanics cannot be fully established from the reviewed public information. The B20 launch tokens are very small, high-volatility markets, while the tokenized-stock side also carries issuer/custody, eligibility, mint/redemption and off-hours price-dislocation constraints relative to underlying equity-market hours.
Disclosure
This is a public-market observation and does not constitute investment advice.