SpaceX's $194B share unlock tests Aave's tokenized-stock collateral plan
- —Oct. 22 unlock covers 1.3B shares, 28% of the lockup pool and +45% to tradable supply
- —LlamaRisk recommends a 55% collateral factor and a 37,000 SPCXc cap (~$5.47M)
- —Model assumes a 41% off-hours decline and 81.4% realized volatility since IPO
- —Aerodrome SPCXc/USDC pool holds $1.04M, with $370K depth for a 2% move
Why it matters: The test will show whether tokenized volatile equities can work as onchain collateral given thin DEX liquidity and equity-market closures.
Source: CryptoSlate