Coca-Cola (Ondo Tokenized Stock) 

KOON Price

What is Coca-Cola (Ondo Tokenized Stock) (KOON)?

KOON is a tokenized stock that gives crypto traders on-chain exposure to The Coca-Cola Company (NYSE: KO) without leaving a crypto venue. Ondo Global Markets (BVI) Limited, part of Ondo Finance, issues the token as a total-return tracker: fully backed by the underlying stock, with dividends reinvested into the token net of withholding tax. Holders receive economic exposure only — no voting or shareholder rights.

Which asset does the KOON tokenized stock represent and what backs the token?

Each KOON token represents economic exposure to The Coca-Cola Company's NYSE-listed common stock. The token is fully backed by the underlying asset. Structural protections include a bankruptcy-remote SPV, overcollateralization, a first-priority security interest, and daily attestations at regulated US entities. A KOON position confers no ownership of Coca-Cola shares — holders receive price and dividend economics only.

Does one KOON token equal one Coca-Cola share?

No. One KOON token does not strictly equal one KO share, so token and stock prices diverge over time. Ondo's design reinvests dividends into the token net of withholding tax, which gradually shifts the token-to-share ratio. Traders tracking Coca-Cola precisely should treat KOON as a total-return tracker rather than a 1:1 share proxy.

How is KOON traded — spot, perpetual, or on a DEX?

KOON trades in spot markets only. Per DropsTab data, every tracked KOON market is a centralized spot pair quoted against USDT — no perpetual or futures markets and no tracked decentralized exchange venues exist. The token is also accessible via Binance Alpha and directly on Ondo's app. Liquidity sits in a handful of CEX pairs, so spreads on the wrapper may exceed those on the underlying KO shares.

What is the point of tokenized stocks?

Tokenized stocks let crypto users hold equity exposure inside crypto infrastructure. KOON tokens are freely transferable, usable in DeFi, and support fractional purchases — features a conventional brokerage account does not offer. Trading runs 24/7, while NYSE-listed KO shares trade only during US market hours. Ondo's platform lists 440+ tokenized stocks and ETFs alongside KOON.

How does KOON's mint and redeem mechanism work?

Ondo mints KOON tokens on demand and burns KOON tokens on redemption. Both operations are instant atomic transactions with no mint or burn fees. Minting and redemption run 24/7 on Ondo's platform, so token supply responds directly to investor demand. Direct purchase on Ondo's app requires institutional KYC onboarding.

Why does KOON's token supply change over time?

KOON has an elastic, demand-driven supply with no fixed maximum. Minting creates tokens and redemption destroys tokens, so the float grows and shrinks with investor demand rather than an emission schedule. Per DropsTab data, total supply stood at roughly 45,000 KOON as of August 2026. KOON carries no vesting schedule, cliffs, or investor unlocks — the wrapper has no insider allocations.

How safe are tokenized stocks?

KOON's protections include full backing by the underlying asset, a bankruptcy-remote SPV, overcollateralization, and daily attestations at regulated US entities. Risks remain. KOON holders receive no shareholder rights, wrapper spreads can exceed the underlying stock's, 24/7 trading can price away from KO while NYSE is closed, and the token is not registered under the US Securities Act.

Is Ondo the largest tokenized stock issuer?

Ondo Global Markets surpassed $1 billion in total value locked in 2026 — a first among tokenized-stock platforms. The KOON wrapper tracked here is issued by Ondo Global Markets (BVI) Limited, and DropsTab's listing ties the asset page to Ondo's official KOon page. Other Coca-Cola wrappers (xStocks, Reality Protocol rTokens) are separate instruments with different custody.