Palantir xStock
PLTRX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
PLTRX (Palantir xStock) is a tokenized tracker certificate issued by Backed Assets (JE) Limited, providing on-chain exposure to Palantir Technologies Inc. public equity across multiple chains including Solana, Ethereum, Arbitrum One, and BNB Smart Chain. The underlying equity is highly established and liquid, and the token utilizes continuous Proof of Reserve via Chainlink with attestations by The Network Firm. However, the token layer exhibits significant centralized counterparty risks, permissioned issuance, extremely thin community engagement and on-chain liquidity (with only a handful of active holders), and an absence of a verified independent smart contract audit for the token layer itself. No qualifying red-flag exploits or regulatory enforcement actions were identified. The overall score mathematically reflects the weighted average across all evaluated dimensions.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Palantir xStock (PLTRX)
PLTRX (Palantir xStock) is a tokenized equity tracker certificate issued by Backed Assets (JE) Limited under the xStocks framework (ISIN CH1436219625). Launched in June 2025, the token is designed to provide crypto-native exposure to the public equity of Palantir Technologies Inc. It operates across multiple blockchain networks, including Solana, Ethereum, Arbitrum One, and BNB Smart Chain. The asset functions through a determinate 1:1 mint and burn mechanism, backed by underlying shares held in custody, with reserves tracked via Chainlink Proof of Reserve and attestations provided by The Network Firm.
As a centralized Real World Asset (RWA) product, PLTRX does not feature decentralized autonomous organization (DAO) governance, token-holder voting rights, or token-specific vesting schedules. Issuance and redemptions are permissioned and managed directly by the issuer. On-chain metrics reflect highly concentrated ownership and low engagement, with recorded holder counts numbering under 40 on Ethereum and a single holder on Arbitrum One as of August 2026. In addition, tracking metrics across public aggregators show inconsistencies regarding circulating supply.
The project carries structural counterparty and centralized issuer risks, and no independent third-party smart contract audit from a recognized security firm was verified for the deployed token contracts. While no exploits, delistings, or direct regulatory enforcement actions have occurred at the token layer, the value of the token remains directly tied to the performance and operational posture of Palantir Technologies. Relevant events for the underlying entity include a reported October 2025 U.S. Army memo citing security and auditability concerns in Palantir's NGC2 battlefield deployment, alongside standard software vulnerability disclosures managed through the company's published security bulletins.