Spicenet Launches Spice Stocks, Tokenized Stock App Using Aerodrome for Trading and Aave for Loans

@spicenet has launched Spice Stocks, its first consumer app, which brings trading, leverage, borrowing and yield on tokenized stocks into a single interface. The release moves the Spicenet team from cross-chain infrastructure into a retail-facing product.

Trades on the app route through @aeroxyz, which acts as the trading engine. @aave handles loans, @verantaxyz adds leverage, and @Superformxyz powers the earn side of the product.

How Spice Stocks works

Users can buy tokenized stocks with assets held on other chains, and borrow $USDC against eligible holdings. According to Spicenet's October 27 funding announcement, the app was designed so that users could buy tokenized equities with assets from other chains, with trading powered by Aerodrome and borrowing by Aave. At that time the company described the app as still in development.

Tokenized stocks are blockchain-based tokens that track the price of shares in listed companies. Combining spot purchases, collateralised borrowing and yield in one app is meant to spare users from moving between separate protocols to manage a position.

Funding and company background

The launch follows a funding round announced in late October. Spicenet completed a $5M Series A led by dao5, with participation from Babylon and Astrarizon. The round followed a $3M seed co-led by Hack VC and Magnus Capital, bringing total funding to $8M.

According to Pulse 2, the company plans to use the new capital to launch Spice Edge, a cross-venue margin product, and the SPICE token, and to provide liquidity for products built on its network. Spicenet's Celestia-powered Layer 1 network provides settlement and accounting infrastructure and has processed more than 85,000 mainnet transactions, the same report said.

Spicenet describes itself as a brokerage network for on-chain finance. Its first major product, Spice Flow, gives applications a single integration for cross-chain transactions. Beta transaction volume for Spice Flow has exceeded $160,000, Dealroom reported.

Spice Stocks is the first product aimed directly at consumers, rather than at developers integrating Spicenet's tools into their own applications.

Sources

TMCnet: Spicenet Raises $5M Series A Led by dao5
ADVFN (Business Wire): Spicenet Raises $5M Series A Led by dao5
Dealroom: Spicenet Series A and Spice Flow volume