Tokenized Grindr ($GRND) Now Available on Solana

Backpack expands its tokenized stock lineup on Solana with Grindr ($GRND). Each $GRND token is tradable 24/7 and redeemable 1:1 for a traditional share of Grindr (NYSE: GRND) through Backpack Securities.

Token details

About Grindr

Grindr Inc. (NYSE: GRND) runs Grindr, a social networking app built for the LGBTQ+ community. With more than 15 million average monthly active users and availability in over 190 countries and territories, the app is a primary channel for its users to connect with each other, express themselves, and discover what is around them.

Moving between $GRND and traditional GRND shares

$GRND and traditional Grindr Inc. (NYSE: GRND) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of Grindr from Backpack Exchange to tokenize it into $GRND on Solana.

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

How to trade $GRND

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

$GRND 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 $GRND, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages