Borrow against TSLAx
Teller pools accept TSLAx, the xStocks tokenized Tesla share, as collateral on Ethereum at up to 33.3% LTV, lending USDC at 25% APR. Ondo's tokenized Tesla trades on a separate pool at wider terms. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| TSLAx | Ethereum | 33.3% | 25% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
The issuer sets the terms, not the company
TSLAx tracks the same Tesla share as Ondo’s TSLAon, and its pool prices it very differently. This row clears 33.3% at 25% APR, against a ceiling roughly twice as wide and a rate a fraction as high on the Ondo row.
The company is identical in both cases. What differs is who issued the token, how it redeems, and which operator wrote the pool. When an asset reaches a lending market through two wrappers, the wrapper is what you are being priced on.
See TSLAon for the other row before deciding which to deposit.
xStocks, and a supply you can check
The contract at 0x8ad3c73f833d3f9a523ab01476625f269aeb7cf0 reports its name as “Tesla xStock” and a total supply of exactly 45,000 tokens. A round number, unlike the Ondo tokens, whose supplies move with mint and redemption.
The pool takes that address only. Two tokenized Teslas on one platform is precisely the situation where depositing by ticker fails, so start from the row in the table.
Where this row still wins
A narrower ceiling is not a reason to skip it. If your Tesla exposure is already in TSLAx, borrowing here avoids converting between wrappers, which costs a trade and whatever spread sits between them. Work out the loan you need first: if this row covers it, the conversion is work you do not have to do.
Two issuers, two redemption paths
The difference that produces the terms is what happens if the pool ever has to convert forfeited collateral back into the underlying share. Each issuer runs its own process, with its own eligibility rules, its own hours and its own counterparties, and an operator sizing that exit reaches a different answer for each.
None of it touches you while the loan runs. It is the mechanism behind two rows quoting different numbers for one company, which is otherwise hard to make sense of.
The loan
Deposit TSLAx, receive USDC, repay or roll on the due date. Rate, LTV and the roll window are set at the start. There is no liquidation threshold during the term, so an earnings gap leaves the obligation unchanged. Miss the due date and the collateral is forfeit. The pool is on Ethereum, so budget mainnet gas across the approval and the borrow.
The full set is on the tokenized stocks page.
Frequently asked questions
They track the same Tesla share through different issuers. TSLAx comes from xStocks and TSLAon from Ondo, and their pools quote very different ceilings and rates, so the wrapper is what you are priced on.
If your exposure is already in TSLAx, borrowing here avoids converting between wrappers, which costs a trade and a spread. Size the loan first and see whether this row covers it.
Exactly 45,000, which totalSupply on 0x8ad3c73f833d3f9a523ab01476625f269aeb7cf0 confirms. The contract name reads Tesla xStock.
Start from the row in the table instead. Two tokenized Teslas on one platform is exactly the case where a ticker is ambiguous and the pool rejects the wrong contract at the deposit.
Nothing happens to the loan. There is no liquidation threshold during the term. Only a missed due date forfeits the collateral.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.