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SKHY Listing (#1679)
* Update content/tags/listings * Update content/tags/south-korea * Update content/posts/skhy-is-now-live * chore(media): auto-format media content * Update content/posts/skhy-is-now-live * chore(media): auto-format media content * Update content/posts/skhy-is-now-live * chore(media): auto-format media content * Update content/posts/skhy-is-now-live * chore(media): auto-format media content * Update apps/media/content/tags/listings.mdx Co-authored-by: greptile-apps[bot] <165735046+greptile-apps[bot]@users.noreply.github.com> * Update apps/media/content/tags/south-korea.mdx Co-authored-by: greptile-apps[bot] <165735046+greptile-apps[bot]@users.noreply.github.com> --------- Co-authored-by: github-actions[bot] <41898282+github-actions[bot]@users.noreply.github.com> Co-authored-by: greptile-apps[bot] <165735046+greptile-apps[bot]@users.noreply.github.com>
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‎apps/media/content/posts/skhy-is-now-live.mdx‎

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---
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title: "The Sun Rises in Seoul and Trades on Solana: $SKHY is Now Live"
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status: published
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heroImage: /uploads/posts/skhy-is-now-live/heroImage.webp
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description: >
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SK Hynix ($SKHY), South Korea’s dominant memory-chip maker, is now live on
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Solana.
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author: solana-foundation
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publishedAt: 2026-07-10T12:00:00.000Z
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categories:
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- category: defi
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tags:
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- tag: listings
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- tag: south-korea
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---
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_SK Hynix ($SKHY), South Korea’s dominant memory-chip maker and global leader in High-Bandwidth Memory, is now live on Solana through [Sunrise](https://sunrise.xyz/) via Backpack Securities, [xStocks](https://xstocks.fi/), and [Ondo](https://ondo.finance/)._
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**TL;DR**
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- South Korea’s memory leader SK Hynix is now listed on Nasdaq and tradable on Solana
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- $SKHY through Sunrise via Backpack Securities, eligible investors can access a 1:1 redeemable tokenized stock tradable and composable within Solana DeFi
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- $SKHYx from xStocks is fully collateralized 1:1 by the underlying shares held with a regulated custodian, and transferable 24/7
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- $SKHYon from Ondo is a total-return token backed 1:1 at US-registered broker-dealers, transferable 24/7 with 24/5 minting and redemption
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- **SK Hynix controls \~59% of the global HBM market**, 70% of Nvidia’s HBM4 chip allocation, and the entire 2026 supply is sold out. 
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- High-Bandwidth Memory (HBM) is the densely stacked DRAM that enables modern GPUs and advanced AI compute
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- **Internet Capital Markets**: $SKHY’s listing represents the largest foreign share offering since Alibaba’s IPO in 2014 and it’s available on Solana from day one
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## **SK Hynix: The memory supercycle hits Nasdaq**
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[SK Hynix](https://www.skhynix.com/) has been publicly traded in Korea for decades, but its American Depositary Receipt (ADR) debut today is historic. The company is raising approximately **$28 billion**, marking the [largest stock issuance](https://finance.yahoo.com/markets/stocks/articles/sk-hynixs-28-billion-nasdaq-162700620.html) from a foreign company in U.S. markets. Proceeds from this offering will fund the Yongin “Y1” mega-fab and next-gen HBM4 production lines at a time when memory bandwidth is the primary bottleneck in AI infrastructure.
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**What SK Hynix Builds**
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SK Hynix builds three kinds of memory:
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- **DRAM,** which is the fast memory found in computers, phones, and servers tasked with holding temporary data for active applications;
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- **NAND flash,** which is the hardware inside Solid State Drives (SSDs), phones, and memory cards that keeps data intact even when the power is off, and most critically;
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- **High-Bandwidth Memory (HBM),** which is a specialized, ultra-premium variant of DRAM where memory chips are stacked vertically like skyscrapers and linked by microscopic wires. 
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**Why HBM Matters for AI**\
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Traditional DRAM lays chips flat across a board, requiring data to travel comparatively long horizontal distances between memory and the processor. HBM, however, stacks chips vertically like floors in a skyscraper and connects each layer through microscopic wires, allowing for memory to be placed in stacks mere millimeters from the GPU. The result: up to 10x higher bandwidth, exactly what large language models and AI training demand.
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**The Supercycle is Here**
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Demand for HBM has ignited a semiconductor supercycle. SK Hynix commands:
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- **Approximately 59%** share of the global HBM market.
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- **Roughly 70%** of Nvidia’s HBM4 allocation under contract.
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- A fully sold-out 2026 HBM production pipeline
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Nvidia now accounts for **about 27% of SK Hynix revenue**. In June 2026, SK Hynix overtook Samsung to become South Korea’s most valuable listed company.
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## **The $SKHY listing**
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For the first time, [investors outside Korea will be able to buy SK Hynix](https://www.barrons.com/articles/sk-hynix-stock-lisying-oversubscribed-price-48dcc885) through an ordinary U.S. brokerage. Each ADR represents ownership in the underlying Korean shares (via a depositary bank), broadening the investor base and opening the door to passive index inclusion and large U.S. institutional flows. This listing could help close a historical valuation discount versus SK Hynix’s U.S. peers like Micron, as access expands. The Nasdaq listing expands who can own SK Hynix and bringing $SKHY to Solana changes where, when, and how that exposure can trade. 
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## **Three Issuers, One Network: Internet Capital Markets**
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On day one, SK Hynix exposure is live on Solana through three issuers, each with its own structure:
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- [**Backpack Securities**](https://backpack.exchange/) issues $SKHY, a tokenized security redeemable 1:1 into the corresponding security entitlement, enabling investors to move and trade it between Solana, Backpack Securities, and other traditional brokerages. Dividends reflected through onchain rebasing.
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- [**xStocks**](https://xstocks.fi/) lists $SKHYx, fully collateralized 1:1 by the underlying shares held with a regulated custodian, transferable 24/7, with corporate actions like dividends reflected onchain automatically.
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- [**Ondo**](https://ondo.finance/) lists $SKHYon, a total-return token backed 1:1 by shares held at US-registered broker-dealers,  transferable 24/7, with dividends automatically reinvested and 24/5 minting and redemption.
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Across all three, investors receive the same economic exposure as the Nasdaq ADR, with the added benefits of 24/7 global trading, self-custody, and Solana DeFi composability.
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Verify official token addresses before purchasing:[ https://www.tokens.xyz/skhy](https://www.tokens.xyz/skhy)
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## **From Seoul to Solana**
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SK Hynix's Nasdaq debut expands access to a foundational AI infrastructure company. By bringing $SKHY to Solana on day one, Sunrise with Backpack Securities, xStocks, and Ondo are extending that access to Solana's Internet Capital Markets.
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**$SKHY may begin trading on Nasdaq, but on Solana, *the market never closes*.** 

‎apps/media/content/tags/listings.mdx‎

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‎apps/media/content/tags/south-korea.mdx‎

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‎apps/media/public/uploads/posts/skhy-is-now-live/heroImage.webp‎

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