Micron Technology (Ondo Tokenized Stock) 

MUON Price

What is Micron Technology (Ondo Tokenized Stock) (MUON)?

MUON gives crypto traders on-chain exposure to Micron Technology (NYSE: MU) common stock — tokenizing the equity as an ERC-20 on Ethereum without leaving a DEX. Issued by Ondo Finance in July 2026, MUON was the first tokenized stock launched under a U.S. SEC-aligned domestic framework rather than an offshore structure. Tokenholders receive MU price performance with reinvested economics, on a 24/5 on-chain schedule. Access is restricted to eligible non-US participants.

Which underlying asset does MUON track?

MUON tracks the economic performance of Micron Technology common stock, listed on NYSE under ticker MU. Micron is a memory and storage semiconductor manufacturer. Each MUON token represents 1:1-backed exposure to one MU share's price movement, minted and redeemed by Ondo Finance against the underlying equity. The wrapper does not constitute direct ownership of NYSE-listed MU shares.

How does MUON differ from other Micron tokenized wrappers?

MUON is the Ondo Finance-issued ERC-20 on Ethereum. Two separate wrappers of the same Micron equity exist: Backed Finance xStocks (Solana SPL, x-suffix ticker) and Reality Protocol rToken (Bitget, r-prefix ticker). These instruments use different custody, different chains, and separate liquidity pools. MUON, the x-suffix variant, and the r-prefix variant are distinct tokenized-equity products tracking the same underlying MU share — not interchangeable tokens.

What backs the MUON tokenized stock's value?

Ondo Finance mints each MUON token 1:1 against wrapped Micron equity exposure. Supply floats with issuer mint/redemption activity rather than following a fixed schedule — there is no presale allocation, ICO price, or team lockup. Per DropsTab data, total supply sits at approximately 47,770 MUON as of August 2026, with no fixed maximum. Supply expands and contracts with demand for the tokenized exposure, not on an inflation timetable.

How is MUON traded on exchanges — spot or perpetual?

MUON trades only in spot markets. Per DropsTab data, two centralized exchanges (MEXC and DigiFinex) and one decentralized venue (Uniswap v3) list MUON/USDT pairs. No derivative or perpetual markets are tracked. Liquidity is concentrated across a small number of venues — typical for a recently-launched tokenized equity — which carries higher slippage risk on larger orders than the deep order books of NYSE-listed MU shares.

Does MUON grant Micron shareholder rights?

No. MUON tokenholders receive economic exposure to MU price performance, not direct shareholder rights. Voting rights and direct dividend payments do not flow to tokenholders. Economic value from the underlying share — including dividend equivalents — is reinvested into the token by the issuer. The structure remains subject to eligibility restrictions and should not be conflated with holding the underlying NYSE-listed Micron share.

Who can access MUON?

MUON access is restricted to eligible non-US participants. The SEC-aligned domestic framework under which Ondo Finance issued MUON in July 2026 sets eligibility criteria, but the instrument is not a substitute for direct NYSE share ownership for US persons. Geographic eligibility, custody chain, and regulatory treatment differ from holding the underlying Micron share — participants must satisfy the issuer's qualification requirements.