Tokenized Eli Lilly ($LLY) Now Available on Solana

Eli Lilly ($LLY) joins Backpack's tokenized stock lineup on Solana. Each $LLY token is tradable 24/7 and redeemable 1:1 for a traditional share of Eli Lilly (NYSE: LLY) through Backpack Securities.

Token details

About Eli Lilly

Eli Lilly and Company (NYSE: LLY) is a pharmaceutical company headquartered in Indianapolis that discovers, develops, and markets medicines across cardiometabolic health, oncology, immunology, and neuroscience. Founded in 1876, Lilly is best known today for its GLP-1 franchise, including the injectable therapies Mounjaro and Zepbound and the oral weight loss pill Foundayo (orforglipron), the first GLP-1 tablet approved without food or water restrictions. The company became the first drugmaker to reach a $1 trillion market value, driven by surging demand for its obesity and diabetes treatments. Its pipeline includes retatrutide for obesity and knee osteoarthritis, along with programs in Alzheimer's disease and cancer.

Moving between $LLY and traditional LLY shares

$LLY and traditional Eli Lilly and Company (NYSE: LLY) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of Eli Lilly from Backpack Exchange to tokenize it into $LLY on Solana.

Deposit $LLY from a Solana wallet to Backpack Exchange to convert it back into the underlying LLY share held in Backpack Securities.

How to trade $LLY

You can trade Backpack-issued $LLY on Solana using Backpack Wallet.

$LLY is also accessible across the Solana ecosystem, including decentralized exchanges, aggregators, wallets, and apps such as Backpack, fomo, Titan, Jupiter, Phantom, Solflare, Raydium, Kamino, and others.

Unlike most tokenized stocks that only track a price, tokenized securities issued by Backpack, including $LLY, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages after redemption
• Tradable across both Solana and NYSE

The descriptions provided herein are for informational purposes only. For details, please see the Backpack Securities Terms of Service, available in the User Agreement.