Frequently Asked Questions

What are tokenized stocks?

Tokenized stocks are blockchain-based tokens fully backed by company shares, such as Apple or Tesla, held by qualified custodians. They combine the economic benefits of traditional equities with the speed and flexibility of digital assets, offering fractional ownership, instant settlement, 24/7 access, and DeFi interoperability, empowering a more inclusive, efficient, and transparent financial ecosystem.

What stocks are available on DCLEX?

DCLEX currently offers the following tokenized stocks:

New listings will be introduced over time, with announcements made via DCLEX’s official channels.

How can I buy tokenized stocks?

Anyone with a Digital Identity can acquire tokenized stocks on the DCLEX Exchange or through authorized distribution partners. On DCLEX, simply connect your wallet and swap USDC or supported crypto for tokenized stocks at live market prices. Trades settle instantly, and you will receive the tokenized stocks directly in your wallet.

How can I earn a yield on tokenized stocks?

You can earn yield by providing liquidity to DCLEX’s decentralized exchange pools or by lending your tokenized stocks in approved DeFi protocols. Liquidity providers earn a share of trading fees, while lending can generate interest—allowing you to put your stocks to work and earn passive income, even while holding them on-chain.

Do tokenized stocks pay dividends?

Yes. Tokenized stocks deliver full dividend distributions, even when they are used in DeFi protocols such as providing liquidity. Dividends are paid in USDC and can be claimed in the Portfolio section of your DCLEX account.

Do tokenized stocks offer voting rights?

No. Tokenized stocks do not currently provide shareholder voting rights, although DCLEX plans to introduce this feature in the near future.

On which blockchains are tokenized stocks available?

DCLEX tokenized stocks are available on Ethereum. Expansion to EVM-compatible Layer 2 networks is planned to offer a faster, cheaper, and more accessible on-chain trading and investing experience.

What is a Digital Identity?

A Digital Identity is a non-transferable NFT issued by DCLEX to verified users. It serves as your on-chain verification, enabling you to securely interact with tokenized stocks and approved DeFi protocols, while keeping your personal data off-chain.

How do I get my Digital Identity?

Connect your Ethereum wallet to DCLEX, select Verify Identity, and complete the one-time KYC process. Once approved, you can mint and claim your Digital Identity directly to your wallet.

You will need: - A government-issued ID (passport, driver’s license, or national ID card) - A Proof of residency (utility bill, bank statement, or similar) - A small amount of ETH to cover gas fees.

How do I recover my Digital Identity if I lose access to my wallet?

If you lose access to your wallet’s private key, you can recover your Digital Identity by completing our secure re-verification process on DCLEX. Once approved, your Digital Identity and any tokenized stocks linked to it will be transferred to your new wallet address. Standard Ethereum gas fees apply.

Recovery steps: 1. Connect a new wallet on DCLEX. 2. Go to your profile and select Recover Digital Identity. 3. Complete the identity verification process. 4. Your Digital Identity and tokenized stocks will be transferred to your new wallet.

Are Digital Identities secure and private?

Yes. Your Digital Identity is a cryptographic proof of verification, not a public record of your personal information. No personal data is stored on-chain; the token contains only minimal verification metadata, ensuring compliance without exposing any sensitive information.

What is DCLEX Exchange?

DCLEX is the first decentralized exchange purpose-built for tokenized stocks, enabling seamless swaps between stocks and crypto at real-time market prices. Users can also provide liquidity to trading pools to earn yield on their tokenized stocks.

How is DCLEX different from other decentralized exchanges?

DCLEX is the first decentralized exchange purpose-built for tokenized stocks. enabling seamless swaps and yield opportunities. Unlike typical DEXs, it delivers real-time pricing for tokenized stocks via Pyth Network oracles, ensuring trades execute at accurate market prices aligned with traditional stock exchanges. DCLEX also facilitates swaps between both stocks and crypto by routing all crypto trades to Uniswap with USDC as the intermediary. This same mechanism will enable DCLEX to offer 24/7 trading in the future by routing orders to Uniswap during off-hours, once stock trading pools are established.

What assets can I trade on DCLEX?

DCLEX Exchange lets you swap between DCLEX-issued tokenized stocks, USDC, and any cryptocurrency with a USDC trading pair on Uniswap V4.

What are liquidity pools on DCLEX?

Liquidity pools on DCLEX are smart contract-based reserves that pair tokenized stock with USDC to facilitate decentralized trading. When you add assets to a pool, you become a liquidity provider and earn a share of the trading fees generated from swaps in that pool.

How can I earn yield from DCLEX liquidity pools?

You can earn yield on DCLEX by providing liquidity to its trading pools. This involves depositing tokenized stocks and USDC in proportion to the current pool ratio (e.g., 55% AAPL and 45% USDC). In return, you receive LP tokens representing your share of the pool. As traders swap between the paired assets, you earn a proportional share of the trading fees automatically added to your LP position. You can withdraw your liquidity at any time—burning your LP tokens and receiving tokenized stocks and USDC in proportion to the pool’s current ratio.

What are the trading fees on DCLEX?

DCLEX Exchange charges a dynamic swap fee that adjusts based on pool balance and trade size. In balanced pools, the base fee is around 0.15%, with lower fees for trades that improve balance and slightly higher fees for trades that move it out of balance.

Swaps also incur a small oracle fee (< $0.01) for real-time pricing, along with standard Ethereum gas transaction fees.

As a reference, here are the fee rates at various pool ratios:

What are DCLEX Exchange trading hours?

Trading on DCLEX Exchange is available during U.S. market hours (Mon–Fri, 9:30 AM to 4:00 PM ET) to ensure accurate real-time pricing. Support for extended hours and 24/7 trading is planned for future releases.

What is DCLEX Mint?

DCLEX Mint is an institutional-grade tokenization platform for public equities that enables authorized DCLEX partners to issue and redeem tokenized stocks on the Ethereum blockchain. It operates like a traditional trading platform, allowing the buying and selling of stocks, with the added ability to withdraw tokenized stocks to an Ethereum wallet or deposit them back for redemption into traditional shares.

Who can use DCLEX Mint?

DCLEX Mint is available to authorized DCLEX partners, including financial institutions, asset managers, and distributors within DCLEX’s operational jurisdictions. All DCLEX minting partners must complete a thorough review process, including background checks, KYB verification, and sanctions screening, before being approved for access.

How does tokenization and redemption work?

Authorized Mint partners can fund their DCLEX account with USDC or by Wire transfer. Once funded, they can buy and sell supported stocks through a trading-platform-style interface. Orders are executed via our broker on traditional exchanges, with the shares held in an omnibus account by a qualified custodian. Tokenization occurs when a user withdraws shares from their DCLEX account. The equivalent number of shares is deducted from their balance and minted as tokenized stocks, sent directly to their Ethereum wallet. Redemption works in reverse. Users can deposit tokenized stocks to their DCLEX account, burning the tokens and crediting their account with the corresponding shares, which can then be sold on the platform.
Note: DCLEX Mint supports only whole stock units for withdrawals and deposits.

What are DCLEX Mint trading hours?

Trading on DCLEX Mint is available 24/5 (Monday to Friday) in alignment with U.S. market hours and settlement infrastructure. Withdrawals and deposits of tokenized stocks are available 24/7.

What are the fees on DCLEX Mint?

DCLEX Mint charges 0% fees for trading and tokenization.
Standard Ethereum gas fees apply for withdrawals and deposits of tokenized stocks.

What happens when a stock splits?

Stock splits and reverse splits are handled through a multiplier mechanism on DCLEX Mint. Instead of issuing new tokens or adjusting balances on-chain, DCLEX updates the multiplier that determines how many shares each token can be redeemed for. For example, after a 2:1 split, one token would be redeemable for two shares via DCLEX Mint. This approach keeps tokenized stocks aligned with corporate actions, preserves proportional ownership, and avoids any disruption to liquidity.

Under which regulation does DCLEX operate?

DCLEX is in the process of securing regulatory approval to operate in the U.S. under SEC oversight, ensuring all tokenized stocks are issued in full compliance with applicable federal securities laws.

How does DCLEX ensure that tokenized stocks are fully backed?

Every tokenized stock on DCLEX is backed 1:1 by the equivalent underlying shares transparently held with a qualified custodian. These shares are kept in segregated omnibus accounts and reconciled daily to match the total number of tokens in circulation. DCLEX also publishes regular attestation reports from independent auditors, ensuring full transparency and proof of reserves.

Are DCLEX’s smart contracts audited and open source?

Yes. All core DCLEX smart contracts are open-source and published on GitHub. They have been independently audited by Cyfrin, a leading blockchain security auditor, to ensure security and reliability. You can review the audit report here.