> For the complete documentation index, see [llms.txt](https://docs.bbx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bbx.com/business/global-asset-tokenization/dual-token-model.md).

# Dual-token Model

To balance compliance with the efficiency of on-chain trading, BBX has pioneered a 'Dual-Token Model' — the t-token and the bb-token. Using NVDA as an example:

<figure><img src="/files/01Ld8ga5USfpPs8DCej6" alt=""><figcaption></figcaption></figure>

**NVDAt — Security-based Token**

* **Nature:** Compliant ownership anchor.
* **Function:** NVDAt is the legal certificate proving a user's ownership of real equities. It is issued by the licensed issuer, pegged 1:1 to real equities held in the licensed and compliant broker's segregated account. It functions as a 'digital title deed,' ensuring the legal standing of ownership.
* **Characteristics:** Carries strict compliance information. NVDAt itself does not directly participate in high-frequency trading, in order to preserve its legal standing.

**NVDAbb — Liquidity Utility Token**

* **Nature:** Liquidity utility certificate.
* **Function:** When NVDAt is deposited into the smart contract, the contract mints NVDAbb at a 1:1 ratio. NVDAbb is designed for high-frequency trading and DeFi integration, enhancing the interoperability and liquidity of securities-type assets within the on-chain ecosystem.
* **Characteristics:** NVDAbb is subject to invisible compliance checks by BBX (IP geolocation, OFAC list, etc.), ensuring that all transactions remain within the compliance framework without disrupting the user experience.

#### Contract Addresses

BBX has completed the compliant tokenization minting of the following assets and will successively open spot trading for them on the on-chain order book DEX. Due to the high-performance full-chain architecture, users can break through the closure limitations of traditional markets to achieve 7×24 all-weather spot asset trading.

| Ticker | t Token | Contract Address (t)                       | bb Token | Contract Address (bb)                      | Network  |
| ------ | ------- | ------------------------------------------ | -------- | ------------------------------------------ | -------- |
| AAPL   | AAPLt   | 0xfbabcd2f510bbbf6fbf1c54a2b4b3fbfd7a7f09e | AAPLbb   | 0xe5e6dbb9259d8459fa4b9548df19ba9ea39a3186 | Arbitrum |
| AMZN   | AMZNt   | 0xe5f075e5d031a9360792d1c57bb14ab37d149251 | AMZNbb   | 0xa115b0256c6dce0a9b4a007b49100b65f7bc16f3 | Arbitrum |
| GOOGL  | GOOGLt  | 0x0fe7b1939ef64ee7413c8334edb02f93974237f3 | GOOGLbb  | 0xa40c38c30da848754f2308a2fd37573baf84ca3c | Arbitrum |
| PLTR   | PLTRt   | 0xfbd7fd27e1a7117f6331595167d89dd9356e3813 | PLTRbb   | 0x9ac96785d3c325f91b9ff37426f183d34b1e82a5 | Arbitrum |
| CRCL   | CRCLt   | 0x91f065dffab8fa5829368b1c6c8fc86a13b96226 | CRCLbb   | 0x653f56245705aef339768fade62c95da03165ced | Arbitrum |
| MSTR   | MSTRt   | 0x7526047633fef858dfb740b7fc79a591bb7fe8cf | MSTRbb   | 0xf006a779d429798a1cba0d7544542713a7473342 | Arbitrum |
| HOOD   | HOODt   | 0xc4513eb06e86a262be8dbeb152c72c61520c5828 | HOODbb   | 0x8a5a98053562dbefae511b827d400f539b6420a2 | Arbitrum |
| TSLA   | TSLAt   | 0x3bFfBF70015733A3A36A118E328bD720c2500F2C | TSLAbb   | 0xb5c810224a46894650da0db93b61b9beb4b33d6c | Arbitrum |
| AMD    | AMDt    | 0x354637c9d2FB6701D7f03007d100fe29D82665Fa | AMDbb    | 0x1c2b9e6c8b59292ad3e98b9f0b57a893dc42c743 | Arbitrum |
| NVDA   | NVDAt   | 0x14a145639f8eC2C30a582Abb68569DbFfE377c28 | NVDAbb   | 0x879292708da2b467cbb6590e207f56bb90d946c0 | Arbitrum |

#### Audit Reports

[https://d.cobo.com/public/documents/blocksec\_CoboTokenization\_v1.0-signed.pdf](https://www.google.com/url?q=https://d.cobo.com/public/documents/blocksec_CoboTokenization_v1.0-signed.pdf\&sa=D\&source=editors\&ust=1774614901592838\&usg=AOvVaw13Es9mY6H_Zy7UWIN3bTVC)

[https://github.com/CoboGlobal/cobo-tokenization/blob/master/docs/blocksec\_cobotokenization(CoboERC20Wrapper)\_v1.0-signed.pdf](https://www.google.com/url?q=https://github.com/CoboGlobal/cobo-tokenization/blob/master/docs/blocksec_cobotokenization\(CoboERC20Wrapper\)_v1.0-signed.pdf\&sa=D\&source=editors\&ust=1774614901593427\&usg=AOvVaw0f27S2PhKyO4HMBrif-_re)

#### Core Identity

Total Circulating NVDAbb = Total Locked NVDAt = Total Custodied Real Shares

This identity is enforced by smart contracts and can be publicly verified on-chain in real time, ensuring that every unit of on-chain proof is backed by sufficient real assets.