McDonald's xStock
MCDX
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AI Analysis
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MCDX (McDonald's xStock) is a tokenized-equity certificate issued by Backed Assets that tracks McDonald's Corporation common stock across Ethereum, Arbitrum One, BNB Smart Chain, and Solana. The token benefits from tight tracking to McDonald's share price and a clean incident ledger with no hacks, exploits, depegs, or regulatory enforcement actions identified for the token contract. However, several structural risks limit its overall profile: there are no verified third-party smart contract audits available in retrieved sources, token holders possess no corporate voting or direct dividend rights, and there is significant counterparty and centralization reliance on a single issuer and custodian without transparent on-chain proof-of-reserves. Furthermore, community support is inherently non-existent as a derivative product with no governance role. Overall, MCDX offers functional synthetic exposure to traditional equity for crypto-native users, but remains constrained by counterparty dependency and modest AUM.
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Tokenomics
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Security & Audits
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About McDonald's xStock (MCDX)
McDonald's xStock (MCDX) is a tokenized-equity tracker certificate issued by Backed Assets (JE) Limited under the xStocks program. Established with an inception date of June 20, 2025, the token is deployed across multiple blockchain networks, including Ethereum, Arbitrum One, BNB Smart Chain, and Solana. It is designed to track the market price of McDonald's Corporation (MCD) common stock, enabling on-chain access and spot trading across centralized and decentralized venues, including a listing on BitMart in December 2025.
The token operates on a demand-elastic supply model designed to be backed 1:1 by underlying shares held by a regulated custodian. MCDX does not employ traditional cryptocurrency vesting schedules, inflation, or token burns. Instead, it functions as a derivative wrapper providing 24/7 price exposure to the equity. As a synthetic asset wrapper, holding MCDX does not confer direct corporate shareholder rights, such as voting power or direct dividend distributions.
Several structural and security considerations exist regarding the asset. There are no verified third-party smart contract audits or published proof-of-reserve attestation schedules available in retrieved documentation. Additionally, the token entails counterparty dependency on a single issuer and custodian, remains subject to jurisdictional transfer restrictions, and operates at a modest asset scale with approximately $1.35 million in total assets under management. While no token-level exploits, depegs, delistings, or regulatory enforcement actions have been identified, tokenized equities remain subject to broader regulatory scrutiny.