MUb is a tokenized-stock product that provides onchain economic exposure to the common stock of Micron Technology, Inc. (MU), issued under the bStocks product and transferable as a token on a public blockchain network.

Each MUb token tracks the live market price of Micron Technology, Inc. (MU) common stock, a semiconductor and memory manufacturer listed in the United States. The token is structured to be collateralized on a one-to-one basis by the corresponding underlying shares held by the issuer. Holders gain price exposure to the reference equity through the token rather than direct registered ownership of the underlying shares.

MUb is offered under the bStocks product. The legal issuing entity, its jurisdiction of formation, the applicable financial regulator and license regime, the legal form of the tokenholder's claim, the eligibility and offering restrictions governing purchase and minting, the redemption rights available to holders, the custodian holding the underlying Micron Technology, Inc. shares, and any security agent, trustee, or security interest protecting tokenholders are recorded in the unavailable fields for this entry, because they could not be confirmed from sourced issuer documentation as of June 21, 2026, and are therefore omitted from this description rather than asserted.

MUb is a BEP-20 token transferable on BNB Chain, minted and redeemed through the bStocks platform operated by the issuer. The token standard governs onchain transfer between wallets. The mint and redeem rails, settlement timing, and any net asset value or price oracle publication mechanism are recorded in the unavailable fields and omitted here rather than asserted without sourcing.

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# DEX trading volume methodology

## 1. Overview

DEX trading volume is the total value of trades involving a specific asset executed on decentralized exchanges, broken out by the exchange and product where the trade was executed (venue). Integrated venues include Uniswap, Aerodrome, PancakeSwap, and Fluid, among others, with coverage expanding as more are added.

## 2. Data sources

- **EVM chain events**: Swap and trade events from decentralized exchange contracts, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Swap and trade instructions from decentralized exchange programs, covering Solana
- **Hyperliquid native spot**: Spot trading data from Hyperliquid
- **Asset metadata**: Token addresses and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract trade events and instructions

- **Purpose**: Retrieve raw trade data from decentralized exchange contracts, programs, and native spot feeds.
- **Logic**: On EVM-compatible chains, swap and trade events are parsed from decentralized exchange contracts. On Solana, swap and trade instructions are parsed from decentralized exchange programs. For each trade, the raw amounts of both traded tokens (the token sold and the token bought) are extracted along with the pool address, chain, and product identifier. For Hyperliquid, native spot trading volume is retrieved directly.
- **Key fields**: `amount_0` (raw quantity of first token), `amount_1` (raw quantity of second token), `token_address_0` (address of first token), `token_address_1` (address of second token), `timestamp` (block timestamp), `trading_volume` (raw trading volume for native spot)

### Component B: Normalize amounts and apply valuation

- **Purpose**: Normalize token quantities and calculate the USD value of the trade.
- **Logic**: Raw token amounts are normalized by decimal precision retrieved from asset metadata. Normalized amounts are multiplied by end-of-day price feeds from the price pipeline. To mitigate wash trading and mispricing, a conservative valuation is typically applied where the total trading volume of the trade is determined by taking the lesser USD value of the two legs (the token sold and the token bought). However, for trades involving exactly one tokenized stock, the valuation is determined solely by the tokenized-stock leg to prevent mispricing from unpriced counterparties. Hyperliquid native spot trading volume is retrieved pre-valued and is not subject to this valuation logic.
- **Key fields**: `trading_volume` (calculated USD value of the trade), `token_address_0` (address of first token), `token_address_1` (address of second token)

### Component C: Resolve trade legs and final aggregation

- **Purpose**: Attribute trading volume to each individual asset and aggregate by venue.
- **Logic**: Each trade is typically split into two distinct legs to represent both sides of the transaction, where one leg is categorized as a sell for the token sold by the trader, and the other leg is categorized as a buy for the token bought by the trader. Hyperliquid native spot trading volume is excluded from this split as it is retrieved pre-split by trade direction. The trading volume is then aggregated by summing the USD values across trade directions, assets, chains, and venues.
- **Key fields**: `trade_direction` (direction of the trade leg), `token_address` (resolved token address), `trading_volume` (aggregated USD volume)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of trades involving the asset on decentralized exchanges, counted on both sides of each trade, broken out per venue.

DEX trading volume

Tokenized stocks

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Real-world asset (RWA) issuers

Binance bStocks

Micron Technology (bStocks Tokenized Stock) (MUb) is a token tracking MU shares, backed by dedicated collateral, issued by Binance bStocks through Btech Holdings Ltd, and distributed through Binance with Alpaca and Nest Trading Limited as broker.

The underlying security is listed in the information technology sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are distributed as additional tokens, carries no voting rights, and carries an annual fee of 0%.

The collateral assets are held by Alpaca Securities LLC in segregated accounts within a bankruptcy-remote structure and Crowe Mak LLP as auditor.

Retail investors and institutions AE can mint and redeem directly with Binance bStocks in USDC and underlying shares after completing KYC.

Residents of the United States and jurisdictions under applicable sanctions cannot mint or redeem with Binance bStocks.

Btech Holdings Ltd is incorporated in the United Arab Emirates, is regulated in Abu Dhabi's ADGM, and is supervised by the Financial Services Regulatory Authority.

Holder terms are governed by the law of the United Arab Emirates.

MUb has been issued on BNB Chain as an ERC-20 token since June 2026.

Micron Technology (bStocks Tokenized Stock)MUb