Overview
- Coinbase issued B20 tokens representing 1:1 claims on Apple, Nvidia, Meta and Alphabet that began trading on Base after an Aug. 24 launch and are offered through Coinbase Onchain SPV Ltd. under ADGM prospectuses.
- Chainlink published total‑return Data Feeds for the four tokens on Aug. 26 that combine share prices with a Coinbase multiplier to account for dividends and corporate events so protocols can value them as collateral.
- Major DeFi protocols including Aave, Morpho and Euler are preparing or have enabled support while third‑party teams such as 628 Labs, Superform, IPOR and Portals have already built carry‑trade vaults that use the tokens for leveraged yield strategies.
- On‑chain liquidity is small and concentrated: launch-day minting and DEX turnover pushed supply and trading into the low tens of millions, but a snapshot shows about $960,300 deposited across DeFi venues with Uniswap holding roughly $943,200.
- Practical limits remain — the offering is restricted to non‑U.S. persons under Regulation S, unvested holders who bypass Coinbase compliance cannot redeem or exercise rights, and Chainlink’s session‑aware pricing and U.S. market hours create oracle and liquidation risks for lenders.