Zero fees on xStocks We've seen incredible adoption after just the first week of xStocks. To help accelerate adoption, fees for direct issuance and redemption via @BackedFi are ZERO for xStocks for the foreseeable future.

Onboarded entities with @BackedFi will be able to issue and redeem xStocks with no fees - just the price of the underlying stock. This will allow market makers, exchanges, and other onboarded users to give better spreads, create deeper liquidity, and execute efficient arbitrage.