# 股票代幣化

為兼顧合規與鏈上交易的高效率，BBX 獨創「雙層代幣模型」—— t 代幣與 bb 代幣。以 NVDA 為例：

<figure><img src="https://1883249061-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FuNxG7ITKHjX5l9ckipUE%2Fuploads%2FH1Lu4mEvZyrRQReXtxGG%2FBBX%E5%90%88%E8%A7%84%E6%9E%B6%E6%9E%84%20%E5%8F%B0%E7%B9%81%E4%B8%AD1.svg?alt=media&#x26;token=50c53807-722a-44e9-b949-87f4c35d1bca" alt=""><figcaption></figcaption></figure>

## NVDAt — 數位產權證（Security-based Token）

* **性質：** 合規確權錨點。
* **功能：** NVDAt 是用戶擁有真實股票的法律憑證，由持牌機構合規代幣發行商發行，1:1 錨定持牌券商隔離帳戶中的真實股票。它相當於一張「數位產權證」，確保所有權的法律地位。
* **特點：** 攜帶嚴格的合規資訊，NVDAt 本身不直接參與高頻交易，以確保其法律地位的穩固。

## NVDAbb — 高速交易工具（Liquidity Utility Token）

* **性質：** 流動性效用憑證。
* **功能：** 當 NVDAt 存入 BBX 的智能合約金庫（Vault）後，協議 1:1 生成可自由流通的 NVDAbb。它為高頻交易和 DeFi 整合而生，提升證券類資產在鏈上生態中的互操作性和流動性。
* **特點：** NVDAbb 受 BBX「智能門控合約」的無感合規檢查（IP 地理位置、OFAC 名單等），確保交易始終在合規框架內進行，同時不影響用戶體驗。

## 合約地址

| 股票代碼  | t代幣    | 合約地址                                       | bb代幣    | 合約地址                                        | 網路       |
| ----- | ------ | ------------------------------------------ | ------- | ------------------------------------------- | -------- |
| AAPL  | AAPLt  | 0xfbabcd2f510bbbf6fbf1c54a2b4b3fbfd7a7f09e | AAPLbb  | 0xe5e6dbb9259d8459fa4b9548df19ba9ea39a3186  | Arbitrum |
| AMZN  | AMZNt  | 0xe5f075e5d031a9360792d1c57bb14ab37d149251 | AMZNbb  | 0xa115b025c6cdce0a9b4a007b49100b65f7bc16f3  | Arbitrum |
| GOOGL | GOOGLt | 0x0fe7b1939ef64ee7413c8334edb02f93974237f3 | GOOGLbb | 0xa40c38c30da84875f4f2308a2fd37573baf84ca3c | Arbitrum |
| PLTR  | PLTRt  | 0xfbd7fd27e1a7117f6331595167d89dd9356e3813 | PLTRbb  | 0x9ac96785d3c325f91b9ff37426f183d34b1e82a5  | Arbitrum |
| CRCL  | CRCLt  | 0x91f065dffab8fa5829368b1c6c8fc86a13b96226 | CRCLbb  | 0x653f56245705aef339768fade6c2c95da03165ced | 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 |

## 審計報告

<https://d.cobo.com/public/documents/blocksec_CoboTokenization_v1.0-signed.pdf>

<https://github.com/CoboGlobal/cobo-tokenization/blob/master/docs/blocksec_cobotokenization(CoboERC20Wrapper)_v1.0-signed.pdf>

## 核心恆等式

流通的 NVDAbb 總量 = 鎖定的 NVDAt 總量 = 託管的真實股票總量

這一恆等式透過智能合約強制執行，可在鏈上即時公開驗證，確保每一份交易憑證背後都有足額的真實資產支撐。


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