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inquiry

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first_img Silhouette launches the xStocks inquiry trading system on Hyperliquid

According to The Block, Hyperliquid's block trading layer Silhouette launched its Request for Quote (RFQ) trading system on the mainnet on Tuesday, initially supporting tokenized stocks from Payward's tokenized stock framework xStocks. Silhouette stated that the system allows traders to initiate quote requests for any supported xStock and receive competitive quotes from connected market makers, with winning trades able to settle on-chain at any time and in any size.The RFQ system enables trading of supported xStocks without a dedicated order book, and tokens that generate sufficient trading activity can subsequently be upgraded to an independent HyperCore market. Silhouette founder Chandler De Kock mentioned that while tokenized stocks continue to go on-chain, they mostly lack trading venues, and market makers compete for each trade, with settlement completed on-chain, proving that assets with real liquidity will be upgraded to their own HyperCore market.xStocks was launched in June 2025 and is said to have processed over $40 billion in total trading volume, covering more than 200,000 holders, with nearly $20 billion settled on-chain. The platform issues publicly listed stock tokens pegged 1:1, and its business has expanded from U.S. stocks to European and Asian markets. RWA.xyz data shows that the existing tokenized stocks amount to approximately $2.53 billion, with xStocks accounting for about $620.1 million, ranking as the third-largest issuer, following Ondo (approximately $856.3 million) and bStocks (approximately $621.5 million).

Yushutech has initiated the preliminary inquiry for its IPO on the Sci-Tech Innovation Board, with market estimates suggesting the IPO market value may exceed 40 billion yuan

According to CCTV Finance, based on a previous announcement, the preliminary inquiry date for the IPO of Yushu Technology on the Sci-Tech Innovation Board is today. After the inquiry is completed, subscription will begin on August 10, with both online and offline subscription dates being August 10, and the payment deadline being August 12.The preliminary inquiry period is from 9:30 to 15:00, during which the sponsor (lead underwriter) will conduct verification of offline investors, and investors participating in the strategic placement will pay the subscription funds. On August 6, the issuance price will be determined, valid bidding investors and their subscription shares will be confirmed, and the final allocation quantity and ratio for investors participating in the strategic placement will be determined. This IPO of Yushu Technology aims to raise 4.202 billion yuan, publicly issuing 40.4464 million new shares, accounting for 10% of the total share capital after issuance, which will be 404 million shares. The market estimates that the IPO market value of Yushu Technology will exceed 40 billion yuan. Based on the new share subscription unit of 500 shares on the Sci-Tech Innovation Board and the estimated market value of the issuance, the IPO issuance price of Yushu Technology is approximately 104 yuan per share, with a single subscription requiring about 52,000 yuan, but the specific deviation of the IPO inquiry still needs to be determined by market participants.
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