isomer.finance

one stock shouldn't be five tokens.

unfragmenting tokenized stocks.

the problem

5 → 1

five tokens, one stock

TSLA trades on-chain as TSLAx from xstocks, TSLAon from ondo and TSLAB from binance. robinhood and dinari each issue their own token called plain TSLA. they sit on several chains, none are interchangeable, and each has its own price.

+112%

closed mint windows

the tokens trade 24/7. issuers mint and redeem about five days a week. on a sunday in august 2026, HIMS printed 112% above its nyse close.

2.6%

siloed liquidity

each wrapper has its own pools on its own chain. about 2.6% of tokenized stock supply is used as collateral.

what isomer does

TSLAxxstocks
TSLAonondo
TSLABbinance
TSLArobinhood
TSLAdinari

TSLAxxstocks
TSLAonondo
TSLABbinance
TSLArobinhood
TSLAdinari

deposit any issuer's wrapper, receive any other's. phase 0 routes it through existing venues; phase 1 clears it from a pool.

the TSLA basis page: the max basis between tesla's wrappers now, and a chart of it over the last 24 hours — and it measures the gap: the basis between every wrapper of a stock, per share, live and per minute. this is /basis/TSLA.

basis, live

connecting to basis feed

all 20 stocks

max cross-wrapper basis in basis points for five stocks
stock	pricedwrappers priced	max basis, bps	updated
TSLA
NVDA
AAPL
SPY
QQQ

basis is the price of one wrapper minus another, over the second, in basis points. max basis is the widest gap between any two wrappers of the same stock.

roadmap

phase 0now
router + basis oracle
we quote conversions through existing dexs and bridges and publish the basis between wrappers. isomer holds no funds and deploys no contracts.
a real quote, on a phone.
phase 1
conversion pool
a licensed, kyb'd pool holds each issuer's wrapper and clears conversions directly, without the dex and bridge legs.
phase 2
canonical token
one token per stock, backed by the wrappers held in the pool.