Paimon Tradable SpaceX SPV Token (xSPCX)
On-chain economic exposure to SpaceX shares at $1.7T implied valuation — ~20% below private secondary references
SpaceX S-1 filed (April 2026). IPO anticipated mid-2026 — timing, pricing, and market conditions are not guaranteed.
SpaceX acquired xAI for $1.25 trillion and filed its S-1 on April 1, 2026. Paimon is upgrading all pre-IPO exposure to xSPCX/pSPCX — a new dual-token standard with full DeFi composability, DEX liquidity, all-inclusive pricing, and a defined post-IPO conversion / redemption framework (subject to bilateral arrangements and a 6-month post-IPO lock-up; see Liquidity & Exit). xSPCX is a contractual claim to economic exposure: Paimon Fund LP subscribes to a third-party VC SPV holding actual SpaceX shares, while xSPCX itself is best characterized as a contractual derivative-equivalent of equity exposure rather than direct share ownership.
Company Profile
Learn about the company behind this investment opportunity
Name
Space Exploration Technologies Corp
Founded
2002 by Elon Musk
Headquarters
Hawthorne, California, USA
Core Businesses
Launch & Starlink
Dominant commercial launch provider (Falcon 9/Heavy) and operator of the world's largest satellite internet constellation with 7,000+ Starlink satellites.
Starship & Mars
Next-generation fully reusable super-heavy launch system. Starship V3 first flight targeting late April 2026. Designed for Mars colonization and orbital logistics.
xAI (Acquired)
Acquired Elon Musk's AI company for $1.25T in an all-stock transaction (Q1 2026). Combined entity leverages Starlink's global data infrastructure for frontier AI training.
Business Milestones
Acquires xAI ($1.25T) and files S-1 (April 2026). Market reporting points to a potential $1.75T listing around mid-year, subject to market conditions, investor demand, and SEC review. Starship V3 maiden flight targeting late April.
Revenue hits $13.5B (~55% YoY). December tender values SpaceX at $350B. 134 orbital launches.
First crewed launch with NASA (Demo-2). Starlink beta begins. Valuation reaches $46B.
Proof of Assets
Underlying assets are held through a regulated structure with third-party administration. Verify the latest holdings statement on demand.
Frequently Asked Questions
Everything you need to know about this investment opportunity
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