Solana Labs' Leap Opens Tokenized-Stock Trading Beta — SkimNews
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- Leap opened a beta of its mobile trading app Thursday, letting users trade tokenized stocks, ETFs, metals, currencies and crypto around the clock, subject to restrictions; access is through Apple's public TestFlight early access on iPhone, with an Android version coming soon and no availability in the U.K. or other restricted regions.
- Dialect's team built Leap after Solana Labs acquired Dialect earlier this year; Dialect developed Solana Actions and Blinks, which launched in 2024, along with the cashtags feature on X.
- Leap's research team curates market-moving news and pins each story to the price chart at the moment it broke, while the app tracks profit and loss across every deposit, withdrawal, trade and fee, including each position's breakeven price.
- Jupiter handles trade routing for Leap, with Helius providing infrastructure and Birdeye supplying market data; every trade executes as an onchain swap after the user enters a dollar amount.
- Chris Osborn, Leap's general manager and Dialect's founder, said the Solana blockchain now confirms a trade in about 150 milliseconds thanks to the Alpenglow consensus overhaul, designed to sharply cut confirmation times; Solana Labs co-founder and CEO Anatoly Yakovenko said every app bringing new people onchain strengthens the ecosystem.
- Leap charges no fees of its own at launch, though network and routing costs apply, and plans to use future fees to buy and burn SOL and fund referrals; early waitlist "Founders Club" members earn 30% of the trading fees generated by users they invite and 5% from those users' own referrals.
- Securitize has brought tokenized Nvidia, Apple and Amazon shares to Solana, but the trend has drawn pushback: 56 companies have objected to having their shares traded on OKX and ICE's planned tokenized stock venue.
Why it matters: Solana Labs now has a consumer on-ramp for tokenized stocks, ETFs, metals, currencies and crypto with no proprietary fees at launch, while future fees fund SOL buybacks and burns plus referral payouts of 30% and 5%. The counterweight: 56 companies have objected to tokenized share trading on OKX and ICE's planned venue.
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