sPALL, issued by Stablestocks Lab Limited, is a tokenized commodity product that gives onchain exposure to abrdn Physical Palladium Shares ETF, minted on deposit and burned on redemption and backed one-to-one by a real fund unit held with a licensed broker-dealer. [S1][S2]

sPALL tracks the live market price of abrdn Physical Palladium Shares ETF (sPALL), a U.S.-listed exchange-traded fund, with each token backed by one underlying unit in custody. [S1][S3] Tokenholders may stake into StableVault to receive yield-bearing stTokens that combine underlying economics with DeFi strategies. [S4] A StableStock Service Fee of 0.1% of the transaction amount applies, alongside upstream broker platform, settlement, and regulatory fees passed through on each order. [S5]

Stablestocks Lab Limited, brand StableStock, is a British Virgin Islands company operating from Singapore. [S2][S6] It does not hold financial-services licenses and disclaims being a regulated entity, relying on broker-dealer and custody partners holding an Australian AFSL, a Hong Kong SFC Type 1 licence, and a U.S. MSB registration. [S6][S7] A token represents the tokenized underlying with economic rights but no voting rights, reserved for custodian holders. [S1] Tokens are offered only to Qualified Investors and barred from U.S. persons, with KYC and AML verification required. [S6][S5] Holdings are 1:1 backed by units in custody and redeemable at any time for the underlying. [S1][S3]

Tokens are issued and tradable onchain on Bsc through a liquidity partnership with Native. [S1][S8] Tokenholders mint by depositing brokerage-held units one-to-one and redeem by burning to retrieve the underlying, with mint, burn, buy, and sell orders recorded permanently onchain. [S3][S2] Stablecoin rails using USDT and USDC settle the purchase of underlying securities, and reserve coverage is published per asset through weekly assurance reports. [S9][S3]

<Sources
  retrievedAt="2026-06-18"
  items={[
    { id: "S1", url: "https://stablestock.gitbook.io/ss/concepts/stokens" },
    { id: "S2", url: "https://stablestock.gitbook.io/ss/llms-full.txt" },
    { id: "S3", url: "https://stablestock.gitbook.io/ss/concepts/transparency" },
    { id: "S4", url: "https://stablestock.gitbook.io/ss/concepts/stablevault.md" },
    { id: "S5", url: "https://stablestock.gitbook.io/ss/concepts/spot/fee.md" },
    { id: "S6", url: "https://stablestock.gitbook.io/ss/legal/terms_of_use.md" },
    { id: "S7", url: "https://stablestock.gitbook.io/ss/introduction/trust-and-security.md" },
    { id: "S8", url: "https://stablestock.gitbook.io/ss/concepts/stokens.md" },
    { id: "S9", url: "https://stablestock.gitbook.io/ss/solution/our-model.md" },
  ]}
/>


# 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 commodities

StableStock earns revenue from transaction fees on sStock issuance and redemption via its StableBroker product, and from the spread between deposit/withdrawal flows. Distribution is direct-to-retail (StableBroker app) and B2B via wallet/exchange integrations on BNB Chain.

StableStock issues sStock tokens — ERC-20 tokens on BNB Chain backed 1:1 by the underlying U.S. equity or ETF held at a licensed custodian. The product catalog spans 500+ tokenized stocks and ETFs (e.g. sAAPL, sNVDA, sTSLA, sQQQ) including newly-IPO'd names like sCRCL (Circle) and sBLSH (Bullish) and leveraged/inverse exposures. All sStocks are deployed as BeaconProxy contracts from a single upgradeable factory.

StableStock is an onchain stock asset platform that lets users buy and trade U.S. stocks and ETFs using stablecoins. StableStock is the issuer of sStock tokens — tokenized representations of equities — and is backed by YZi Labs (formerly Binance Labs) among others.

website

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documentation

Real-world asset (RWA) issuers

StableStock

StableStock abrdn Physical Palladium Shares ETF (sPALL) is a token tracking palladium, backed by dedicated collateral.

Each token tracks one troy ounce of palladium and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Qualified investors can mint and redeem directly with StableStock after completing KYC, and holders have a contractual right to redeem.

sPALL is native to BNB Chain as an ERC-20 token.

StableStock abrdn Physical Palladium Shares ETFsPALL