SOX3S, issued by SHIFT DAO LLC, is a tokenized membership interest providing leveraged inverse economic exposure to a listed exchange-traded fund, targeting a daily negative-three-times return relative to its semiconductor underlying [S1][S2].

SOX3S tracks the Direxion Daily Semiconductor Bear 3X Shares (SOXS), an inverse leveraged ETF, with each token providing economic exposure to the value of the Series Assets only [S3][S2]. Tokenholder return derives solely from price exposure to the leveraged Series Asset value, with no dividend pass-through [S3][S4]. The per-token price equals the executed market price of one underlying asset plus a 0.1% transaction fee, and a treasury-based service fee also applies [S4].

SHIFT DAO LLC is a Limited Liability Company formed in the Republic of the Marshall Islands under the Decentralized Autonomous Organizations Act of 2022, issuing this product as a segregated Series under a master-and-series structure [S3][S2]. It operates under the Marshall Islands DAO LLC framework rather than a securities regulator, and the tokens are not registered securities [S3][S5]. Tokens are membership interests granting no dividends, voting, or legal title, are not offered in the United States or United Kingdom, and reach only qualified or professional investors under KYC and AML [S1][S3][S5]. Redemption occurs as internal membership-interest repurchase from the Series treasury, with assets custodied at ALPACADB LTD and DekaBank [S5].

Tokens are issued as SPL tokens held non-custodially in the holder's Solana wallet, live on Solana with BNB Chain support forthcoming [S1][S6]. Minting and burning run on 24/5 mint-and-burn rails via Alpaca Markets, governed by each Series operating agreement, with Chainlink proof-of-reserves referenced for valuation [S1][S5].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.shiftrwa.xyz/" },
    { id: "S2", url: "https://www.shiftrwa.xyz/legal-hub" },
    { id: "S3", url: "https://www.shiftrwa.xyz/terms" },
    { id: "S4", url: "https://www.shiftrwa.xyz/faq" },
    { id: "S5", url: "https://www.shiftrwa.xyz/risk-disclosure" },
    { id: "S6", url: "https://lp.shiftrwa.xyz/" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

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

Asset price

Tokenized stocks

Each SHIFT Series token is minted on deposit and burned on redemption through 24/5 mint-and-burn rails, backed 1:1 by the underlying ETF units custodied at Alpaca Markets.

Shift tokenizes US-listed leveraged and inverse ETFs — Direxion Daily Semiconductor, Tesla, and S&P 500 bull/bear funds — as Solana SPL tokens, giving on-chain users price exposure to these regulated fund products. BNB Chain support is coming soon.

Shift (SHIFT DAO LLC) is a Marshall Islands-based platform that issues tokenized versions of leveraged and inverse Direxion ETFs on-chain.

website

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Real-world asset (RWA) issuers

Shift

Shift Semiconductor 3x Short (SOX3S) is a token tracking the underlying shares, backed by dedicated collateral and issued by Shift through SHIFT DAO LLC and distributed through SHIFT with Alpaca Markets and ALPACADB LTD as broker.

Each token carries no dividend entitlement and carries no voting rights.

The collateral assets are held by Alpaca Markets, DekaBank, and ALPACADB LTD in accounts segregated from the issuer's own funds.

Qualified investors and professional investors worldwide can mint and redeem directly with Shift in USDC, and holders have a right to redeem at net asset value with instant settlement.

Residents of the United States, the United Kingdom, Burundi and other jurisdictions the issuer restricts cannot mint or redeem with Shift.

SHIFT DAO LLC is incorporated in the Marshall Islands.

Holder terms are governed by the law of the Marshall Islands.

SOX3S has been issued on Solana as a SPL Token-2022 token since May 2026.

Shift Semiconductor 3x ShortSOX3S