Fee accrual
$MSTR trades on a 1% StonkFun pool, split 50/50 with the platform. 0.5% of every trade is the creator share, and the creator is the treasury.
Independent treasury vehicle, Solana
Strategy stock, accumulated on‑chain.
$MSTR trades on StonkFun paired with MSTRx, the tokenized MicroStrategy stock issued by Backed. Creator fees accrue in MSTRx and are held in a public treasury that does not sell. Holdings, cost basis, shares per token and mNAV are reported live from Solana.
Launching on StonkFun
Solana
No-disposal policy
MS
MSTRx$000.00
B
Bitcoin$00,000
Solana$000
treasury_statusLive
Treasury, live.
MSTRx held by the treasury, read from Solana.
Strategy shares held0.000
mNAV0.00x
Purchases0
Refreshes every 30 seconds. Every figure is verifiable on Solscan.
Treasury
Holdings, reported live.
MSTRx
Treasury value$0Shares at the live MSTRx price
Average cost per share$0Across all purchases
Shares per 1M $MSTR0Net asset backing per token
30-day MSTR Yield0%Growth in shares held
Cash and SOL reserves$0Awaiting conversion into stock
Purchases0Since inception
Disposals0No-disposal policy
Last purchaseNone
mNAV
Market cap against treasury
Block …
Purchase record
Every purchase, on the record.
Strategy discloses each Bitcoin purchase in a filing. This vehicle discloses each MSTRx receipt as a transaction. Every row is a transfer of MSTRx into the treasury on Solana: claimed creator fees, or purchases with the consideration paid in the same transaction.
| Date | Type | Shares | Consideration | Price per share | Transaction |
|---|---|---|---|---|---|
Reading the recordScanning MSTRx transfers into the treasury. | |||||
Consideration is the USDC or SOL that left the treasury in the same transaction. SOL-denominated purchases are converted at the current SOL price and marked approximate.
Method
Four steps. No discretion.
The vehicle follows the accumulation policy Strategy applies to Bitcoin, applied to Strategy's own stock and executed in public on a chain anyone can audit.
Accrual in MSTRx
Because the coin is paired with MSTRx, creator fees accrue in MSTRx, 0.5% of every trade, and are claimed straight into the treasury address on Solana. No swap, no slippage. Each claim is a public transaction.
Custody
Stock is held at a single published address. The record above tracks outflows as well as inflows, so the disposals figure is auditable by anyone.
Yield
Token supply is fixed at one billion. As holdings grow, shares per token rise. That growth rate is the MSTR Yield reported above.
No-disposal policy.
Strategy has never sold a Bitcoin. This vehicle has no function to dispose of MSTRx, and any outbound transfer from the treasury would appear in the purchase record and the disposals figure immediately.
Definitions
How the figures are calculated.
Every number on this page is computed from public data. These are the definitions, so the figures can be reproduced independently.
- Strategy shares held. The treasury wallet's balance of MSTRx, the MicroStrategy xStock issued by Backed on Solana, read by JSON-RPC at each refresh.
- Treasury value. Shares held multiplied by the live MSTRx price, plus reserves held in SOL and USDC.
- Average cost per share. Total consideration paid across all recorded purchases divided by shares acquired in those purchases. Transfers in without consideration are excluded.
- Shares per 1M $MSTR. Shares held divided by 1,000, since supply is fixed at one billion tokens. The net asset backing of one million tokens.
- MSTR Yield. The percentage change in shares held over the trailing 30 days. Because supply is fixed, this equals the growth in shares per token. Modelled on the BTC Yield metric Strategy reports for its own treasury.
- mNAV. $MSTR market capitalisation divided by treasury value. A multiple above 1.0x is a premium; below 1.0x, a discount to net assets.
- Reserves. SOL and USDC held at the treasury address that have not yet been converted into stock.
- Purchase. An inbound transfer of MSTRx to the treasury where USDC or SOL left the treasury in the same transaction. Inbound transfers without consideration, including claimed creator fees, are recorded as transfers in.
- Disposal. Any outbound transfer of MSTRx from the treasury address. The policy is that this figure remains zero.
- Prices. MSTRx from Jupiter's aggregator with DexScreener as fallback, Bitcoin and SOL from CoinGecko, $MSTR from StonkFun's public API and the Raydium LaunchLab pool, then the Raydium pool after graduation.
Two treasuries
Strategy holds Bitcoin. This vehicle holds Strategy.
The same accumulation policy, one layer apart. Strategy's figures come from its own disclosures. This vehicle's figures come from the chain.
MS
Strategy Inc.
Nasdaq: MSTR
- Holds
- See strategy.com
- Value now
- –
- Average cost per BTC
- –
- Bitcoin sold
- 0
- Policy
- Accumulate, hold, no disposals
Source: strategy.com/purchases
MSTR Yield On-Chain
$MSTR on Solana
- Holds
- Value now
- –
- Average cost per share
- –
- Shares sold
- 0
- Policy
- Accumulate, hold, no disposals
Source: Solana, live
Your position
Your share of the treasury.
Connect a Solana wallet to see your $MSTR balance, your share of supply, and the MSTRx the treasury holds against it. Read only. Nothing to sign.
Graduation0%Progress on the StonkFun curve
Traders, 24h0On the StonkFun pool
Trades, 24h0Each one accrues to the treasury
Fees accrued, 24h$00.5% of volume, claimable in MSTRx
Not connected
Solana
View your position
Only your $MSTR balance is read. No signatures, no approvals.
The token
$MSTR, live.
One billion fixed supply, issued on StonkFun and priced in MSTRx from the first trade. No team allocation, no unlocks, no transfer tax. Liquidity migrates to a Raydium pool when the curve graduates.
$MSTR
MSTR Yield On-Chain, Solana
Price$0.0000
Market cap$0
24h change0%
24h volume$0
Liquidity$0
Paired withMSTRxxStock by Backed
Mint address published at launch
Launching on StonkFun. This page watches StonkFun for the launch and switches to live data the moment $MSTR is issued.
Allocation of the 1.25% trading fee
0.5% of volume accrues to the treasuryThe creator share of the trading fee, paid in MSTRx and claimable by the creator wallet from the token page or the StonkFun API. Per the launch terms and the on-chain platform config.
0.5% to StonkFun, 0.25% to RaydiumThe platform share funds StonkFun, part of it through STONK buybacks. Raydium's protocol fee applies on the LaunchLab bonding curve.
Fees accrue in MSTRxThe pool is priced in MSTRx, so the creator share is paid in MSTRx. The treasury holds it and does not sell.
Disclosures
Questions and disclosures.
How the vehicle works, what it holds, and what it is not.
@MSTRYieldMSTRx, the MicroStrategy xStock issued by Backed on Solana. It is a tokenized representation of Strategy Inc. common stock, tracks the share price, and trades on Solana around the clock. The price on this page comes from Jupiter's aggregator with DexScreener as fallback.
Trading fees, not issuance. $MSTR trades on StonkFun paired with MSTRx. Every trade pays 1.25%: 0.5% to the creator, 0.5% to StonkFun and 0.25% to Raydium. The treasury is the creator wallet, so its share accrues in MSTRx.
No. The vehicle accumulates. The economic effect for holders is that each $MSTR is backed by more MSTRx over time, shown as shares per token and MSTR Yield. Whether the market prices that backing at a premium or a discount is shown as mNAV.
The policy is no disposals. The treasury is a standard wallet, so the guarantee is transparency rather than code: the purchase record reads every outbound transfer of MSTRx from the address, and the disposals figure would change the moment one occurred.
Yes. Holdings and the purchase record are read from Solana by JSON-RPC every 30 seconds. The MSTRx price comes from Jupiter, Bitcoin and SOL from CoinGecko. Every row links to Solscan, and the definitions section states each calculation.