Exodus Movement Class A common stock tokens (Securitize on Algorand; Superstate on Solana)
Solana: can freeze a holder, claw back, gate who may hold, mint. An account only a program can sign for can freeze a holder and claw back tokens.
This file replaced an earlier version on 2026-09-23. Superseded the same day to add the Algorand reading of asset 213345970: holders start frozen, and single keys hold the freeze, clawback, manager, and reserve addresses. Earlier versions.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Exodus Movement (EXOD) common stock tokens Not approved
Other programs tokenize the same security. Every version side by side: EXOD.
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
The token gives no ownership interest in the share; the holder owns the share through Securitize’s books.
“The Common Stock Tokens give no ownership interest in the Class A common stock.”
Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024 · Form 10/A Amendment No. 5, page 60 · words found 2026-09-23
- Who may hold it
Only record holders who pass Securitize KYC and whitelist a wallet; shares held in street name at DTC get no tokens.
“Common Stock Tokens can be held self-custodially by only “whitelisted” persons, who are always known to Securitize.”
Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024 · Form 10/A Amendment No. 5, Item 9, ”The Ability To Use Common Stock Tokens”, page 61 · words found 2026-09-23
- First purchase minimum
The documents we read do not state this.
Not stated in Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024, Exodus Movement response to SEC comment letter (CORRESP), November 12, 2024, Exodus Movement Regulation A offering circular (Form 253G2), April 9, 2021.
- Account types
Persons or entities that complete the transfer agent’s AML and KYC process and join its whitelist.
“The whitelist is a list maintained by the Transfer Agent of approved persons or entities who have complied the required Processes, including providing the Transfer Agent with various required personal information and documentation.”
Exodus Movement Regulation A offering circular (Form 253G2), April 9, 2021 · Offering circular, Plan of Distribution · words found 2026-09-23
- Who it may be transferred to
Token transfers work only between two whitelisted wallets; Securitize checks each and records the share transfer on its books.
“The process of transferring shares of Class A common stock using Common Stock Tokens requires both the sender and receiver to be on the Securitize whitelist.”
Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024 · Form 10/A Amendment No. 5, page 61 · words found 2026-09-23
- How a holder redeems
Exodus offers no redemption. The holder sends tokens to Securitize, moves the shares to a broker by DRS in about five business days, and sells on NYSE American.
“It takes around 5 business days to send shares all the way from your Exodus wallet to your brokerage account.”
Exodus Knowledge Base: Sending shares to a stockbroker (archived 2026-08-06) · Knowledge Base: Sending shares to a stockbroker, step 1 · words found 2026-09-23
- Who keeps the official record
Securitize, the transfer agent, records ownership only on its off-chain books; token balances on the chain do not establish ownership.
“The Class A common stock is a security whose ownership is recorded solely on the books of our transfer agent, Securitize, an SEC registered Transfer Agent.”
Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024 · Form 10/A Amendment No. 5, Digital Format Exodus Common Stock, page 60 · words found 2026-09-23
- What the issuer says it can freeze or take back
Securitize can pull tokens from a wallet and burn them, and may reverse token transfers that do not match its records.
“the Transfer Agent will remove the relevant amount of Common Stock Tokens from the seller’s digital wallet and burn them, so that they no longer exist.”
Exodus Movement Regulation A offering circular (Form 253G2), April 9, 2021 · Offering circular, Offering Summary, Digital Format Exodus Common Stock, pages 1-2 · words found 2026-09-23
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | Yes |
| Distributions | cash |
| SIPC coverage of the wallet | No |
The transfer agent’s SEC record
A transfer agent registers with the SEC on Form TA-1 and reports each year on Form TA-2: how many securityholder accounts it keeps and for how many issues it keeps the master securityholder file, the list that says who owns each share.
| Agent | SEC file | TA-2 period | Accounts | Issues with master file | Work it hires out |
|---|---|---|---|---|---|
| Securitize Transfer Agent, LLC | 084-06638 | 2025-12-31 | 18,337 | 54 | PACIFIC STOCK TRANSFER CO |
| Superstate Services LLC | 084-06972 | 2025-12-31 | 107 | 0 | None |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Algorand | Yes | No | Yes | Yes | No | A single key can freeze a holder and claw back tokens. A single key holds the manager address key. |
| Solana | Yes | No | Yes | Yes | No | An account only a program can sign for can freeze a holder and claw back tokens. |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-23. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Algorand | Freeze address | freeze a holder | a single key | FRGDKS…E23Y |
| Algorand | Clawback address | claw back tokens | a single key | MAKF3G…DN7A |
| Algorand | Manager address | grant and revoke these powers | a single key | MAKF3G…DN7A |
| Algorand | Reserve address | mint new tokens | a single key | MAKF3G…DN7A |
| Solana | Mint authority | mint new tokens | a single key | 3y1U29…yEFa |
| Solana | Freeze authority | freeze a holder | an account only a program can sign for | 2Yq4T3…pM7x |
| Solana | Permanent delegate | claw back tokens | an account only a program can sign for | 2Yq4T3…pM7x |
Algorand: 5 contract reads, 0 functions in verified source, 2026-09-23
- manager=MAKF3GL52O5O6ENRRLJSEJRLTR74E323JBZIWMMGLZT5PNZ4NDTEEODN7A
- reserve=MAKF3GL52O5O6ENRRLJSEJRLTR74E323JBZIWMMGLZT5PNZ4NDTEEODN7A
- freeze=FRGDKSWUDNLMXPJSSGMT3FGL65Z2WR5WOIFHQPT5IBETZBOJPIQTMSE23Y
- clawback=MAKF3GL52O5O6ENRRLJSEJRLTR74E323JBZIWMMGLZT5PNZ4NDTEEODN7A
- defaultFrozen=true
Solana: 4 contract reads, 0 functions in verified source, 2026-09-23
- mintAuthority=3y1U29yH7npj3wvHqFQ4gVxgzccMHybjpcQRAdZbyEFa
- freezeAuthority=2Yq4T3mPNfjtEyTxSbRjRKqLf1pwbTasuCQrWe6QpM7x
- permanentDelegate=2Yq4T3mPNfjtEyTxSbRjRKqLf1pwbTasuCQrWe6QpM7x
- defaultAccountState=frozen
Where it trades
| Venue | Kind |
|---|---|
| NYSE American (the share, after conversion out of token form) | exchange |
No Tokenized Securities Venue lists this token. Secondary trading, if any, is outside the exemption.
Redemption
| Route | Settlement | Settles in |
|---|---|---|
| Redeem in kind | Exodus offers no redemption. Algorand holders send tokens to Securitize; Solana holders detokenize at Superstate and move the shares to Securitize. Securitize burns the tokens and books the shares. A broker pulls the shares by DRS through Pacific Stock Transfer in about 5 business days. The holder then sells on NYSE American | USD |
- Exodus or Securitize changes the transfer agent, the Algorand asset parameters (manager, reserve, freeze, clawback), or moves the Class A token to another chain
- Superstate launches the planned Ethereum token, or Superstate’s Solana mint authority, freeze authority, or permanent delegate changes
- Algorand EXIT units outside the reserve differ from reported Class A shares outstanding by more than 2% at a quarter end
- An Exodus filing describes the Arbitrum $EXOD-B Securitize token or tokenizes another share class
- Exodus discontinues the tokens, which the 2021 offering circular reserves the right to do, or Superstate terminates and freezes transfers under Section 7.5
- Exodus declares a dividend (including the Bitcoin dividend it has said it is exploring); Ketju will check that record holders in token form are paid
- Exodus or its transfer agents claim that the token itself is the share, or the SEC staff revises the January 28, 2026 taxonomy
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju reads EDGAR for the transfer agent’s registration and reviews the file again when a new filing appears. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has revised this file once since filing it. Ketju keeps each earlier version as published, with the reason for the change.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
| 2026-09-23 | Revised. Superseded the same day to add the Algorand reading of asset 213345970: holders start frozen, and single keys hold the freeze, clawback, manager, and reserve addresses. |
Sources
- Exodus Movement Form 10-12G/A (Amendment No. 5), November 27, 2024 · primary · accessed 2026-09-23
Supports: tokens give no ownership interest, ownership solely on Securitize books, whitelist and KYC, nightly reconciliation and reversal, tokens only for record holders; street-name tokens held by Securitize, 6,567,199 tokens and shares at October 31, 2024, Algorand standard assets, DS Protocol Equivalent - Exodus Movement response to SEC comment letter (CORRESP), November 12, 2024 · primary · accessed 2026-09-23
Supports: staff made Exodus drop the paper certificate analogy, tokens devoid of legal rights or economic value, transaction reversal basis under Rules 17Ad-10 and 17Ad-11 - Exodus Movement Regulation A offering circular (Form 253G2), April 9, 2021 · primary · accessed 2026-09-23
Supports: Regulation A+ offering, $75 million at $27.42, tokens are not shares, transfer agent burns unmatched tokens, whitelist of persons or entities, no sales in Arizona, Florida or Texas - Exodus Movement Form 1-U, September 20, 2021 (tZERO ATS and token trading) · primary · accessed 2026-09-23
Supports: tokens on Algorand, record ownership solely on Securitize books - Exodus press release, June 2, 2021: EXIT tokens on Algorand · primary · accessed 2026-09-23
Supports: token ticker EXIT, Algorand as native chain, Securitize as transfer agent - Exodus Movement 8-K, December 13, 2024 (NYSE American approval) · primary · accessed 2026-09-23
Supports: NYSE American listing approved - Exodus Movement Form 10-K for 2025, filed March 11, 2026 · primary · accessed 2026-09-23
Supports: trading on NYSE American began December 18, 2024, Securitize transfer agent, Superstate co-transfer agent, each Class A share has a corresponding token, 6,138 Class A holders of record at March 4, 2026, Solana tokens since October 2025 - Exodus Movement 10-K Exhibit 10.6: Amendment No. 6 to Securitize Platform Services, Transfer Agent and Registrar Agreement, effective August 28, 2025 · primary · accessed 2026-09-23
Supports: Securitize Transfer Agent LLC, $7,500 per new tokenized share class, monthly fees for additional classes - Exodus Movement 10-K Exhibit 10.7: Digital Transfer Agency Agreement with Superstate Services LLC, August 8, 2025 · primary · accessed 2026-09-23
Supports: Superstate subsidiary securityholder records, allowlist of wallets and DEX pools, mint and burn on shareholder instruction, freeze transfers on termination, $1 per year fee, CUSIP 30209R106 - Exodus Movement 8-K, December 10, 2025 (redomestication to Texas) · primary · accessed 2026-09-23
Supports: tokens continue to represent Texas shares with no change - Exodus Movement 8-K Exhibit 99.1, August 8, 2025 (Superstate partnership) · primary · accessed 2026-09-23
Supports: Opening Bell, Solana first, Ethereum planned - Exodus Movement 8-K Exhibit 99.1, October 20, 2025 (Solana tokens with Superstate) · primary · accessed 2026-09-23
Supports: Solana tokens are not shares, tokens on Solana and Algorand - Exodus Movement Form 10-Q for Q2 2026 · primary · accessed 2026-09-23
Supports: 11,015,102 Class A shares outstanding at August 3, 2026, 19,188,156 Class B shares - Exodus Knowledge Base: Sending shares to a stockbroker (archived 2026-08-06) · primary · accessed 2026-09-23
Supports: exit path via Securitize and Pacific Stock Transfer, about 5 business days - Exodus Knowledge Base: How do I tokenize my shares on Solana through Superstate? (archived 2026-08-06) · primary · accessed 2026-09-23
Supports: Algorand tokens burned on return to Securitize, DRS through Pacific Stock Transfer, Superstate transfer cutoff 1 p.m. ET, Superstate allowlist - Exodus Knowledge Base: Exodus common stock token expansion FAQs (archived 2026-08-06) · primary · accessed 2026-09-23
Supports: FAQ says legal ownership recorded on-chain (contradicts filings), brokerages do not support tokens - Superstate: EXOD asset page · primary · accessed 2026-09-23
Supports: Solana mint address, 60 shares on Solana, 250 book-entry at Superstate, transfer agents Securitize and Superstate - Algorand indexer: asset 213345970 · primary · accessed 2026-09-23
Supports: ASA parameters: default-frozen, clawback, freeze, holder balances - Solana RPC: mint 3DBudkWQNbXGAjzEAtpjMKorb76sjozcHCzc8ZtkHDAQ · primary · accessed 2026-09-23
Supports: Token-2022 extensions: default frozen, permanent delegate, supply 60 - Sourcify: Securitize DSToken implementation behind Arbitrum $EXOD-B · primary · accessed 2026-09-23
Supports: Securitize DS token on Arbitrum, 19,072,962 units vs 19,188,156 Class B shares - SEC Divisions of Corporation Finance, Investment Management, and Trading and Markets: Statement on Tokenized Securities, January 28, 2026 · primary · accessed 2026-09-23
Supports: issuer-sponsored model where token only notifies the off-chain master file