Tesla (Ondo Tokenized Stock) 

TSLAON Price

What is Tesla (Ondo Tokenized Stock)?

TSLAON is an ERC-20 tokenized stock issued by Ondo Finance that gives holders on-chain price exposure to Tesla (TSLA) US common stock, tradable 24/7 on Ethereum. Each token is minted 1:1 against actual TSLA shares held in regulated U.S. custody, and burned on redemption. TSLAON is part of Ondo's broader tokenized-equities program (Ondo Global Markets), built for non-US crypto users seeking equity exposure without leaving on-chain venues.

How does TSLAON mint and redeem tokenized stocks?

Ondo acquires real TSLA shares and places them with regulated U.S. broker-dealer custodians. Smart contracts then mint TSLAON 1:1 against the custodied position; redemptions burn tokens and release the backing shares. The shares-per-token multiplier is published on-chain, so backing is verifiable at TSLAON's Ethereum contract (0xf6b1117ec07684d3958cad8beb1b302bfd21103f). Ondo has launched 24/7 minting and redemption for its tokenized stocks.

Which asset does TSLAON represent?

TSLAON represents economic exposure to Tesla, Inc. (TSLA) US common stock. The wrapper tracks Tesla's share-price performance rather than conferring direct share ownership — holders gain price exposure and dividend mechanics, not transferable equity rights. Ondo has partnered with Broadridge to bring voting capabilities on-chain for its stock tokens.

What backs TSLAON's tokenized stock value?

TSLAON is backed 1:1 by real Tesla shares purchased by Ondo Finance and held in regulated U.S. custody. Backing does not come from venture funding or protocol reserves — the issuer acquires TSLA stock for every minted token. Holders bear issuer, custodian, and regulatory-dependency risk on top of Tesla's underlying equity risk.

How is TSLAON traded — spot or perpetual?

TSLAON trades as spot only; no perpetual or derivatives markets are listed. Per DropsTab data, TSLAON is quoted in stablecoin pairs across mid-tier centralized exchanges (Gate, MEXC, BingX in TSLAON/USDT) and on Uniswap v3 (TSLAON/USDC). No tier-1 global venue carries the pair, so large-size execution carries slippage risk and leveraged exposure is unavailable on-map.

Does TSLAON pay on-chain dividends?

TSLAON is engineered as a total-return tracker. On ex-dividend dates, Ondo reflects the net (post-withholding-tax) dividend in the token price and uses it to buy additional backing shares, raising the shares-per-token multiplier rather than letting the price drop. Because dividends compound into more backing shares, the token price diverges upward from the raw TSLA share price over time. Tesla currently pays no regular cash dividend, so this mechanic has limited practical effect on TSLAON today.

Has TSLAON a maximum supply?

TSLAON has no maximum supply. Total supply floats against the underlying custodied TSLA position, expanding with mints and contracting with redemptions. Per DropsTab data, total supply is on the order of tens of thousands of tokens — a live mint/burn value rather than a hard cap. TSLAON uses 18 decimals on Ethereum.

Is TSLAON available to US users?

TSLAON is marked "Not Available in US." Eligible non-US users access the token through Ondo Global Markets and integrated wallets such as MetaMask. The jurisdictional gating restricts the eligible holder base and concentrates liquidity outside U.S. markets.