> For the complete documentation index, see [llms.txt](https://docs.tallyprotocol.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tallyprotocol.xyz/concepts/the-unit-trap.md).

# The unit trap

**One token is not one share.** Each tokenized stock has a *share multiplier*: shares of the stock that one token represents, as a fixed-point number with 18 decimals. Tally multiplies every token amount by its multiplier before it shows you anything.

## A real example

| Token  | Issuer  | Shares per token |
| ------ | ------- | ---------------- |
| NFLXon | Ondo    | 10.0             |
| NFLXB  | bStock  | 1.0              |
| NFLXx  | xStocks | 1.0              |

Ondo's NFLX token costs ten times what bStock's costs, because it is ten shares. A tool that sorts by token price reports a spread of about 899% between them. Other cases measured on 30 September 2026: GME 869%, MRVL 713%, IBM 563%.

Of 458 Ondo tokens on BNB Chain, 242 had a multiplier other than 1 (CRWD 4.0, SOXS 0.1017).

## The multiplier moves

Dividends and splits change it. For Ondo, multiplier growth tracks the dividend yield: across 26 tokens the Pearson correlation was 0.917 (PFE: multiplier +6.09% against a 5.98% yield). So share count rises while the token count stays the same. Portfolio therefore shows dividends as shares gained.

## Where the number comes from

| Issuer  | Source Tally reads            | Notes                                                                                                                                               |
| ------- | ----------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------- |
| bStock  | `uiMultiplier()` on the token | Matched the API on 38 of 38 tokens.                                                                                                                 |
| xStocks | `multiplier()` on the token   | Display only. Onchain and API disagreed on 12 of 38.                                                                                                |
| Ondo    | The API's share multiplier    | **No onchain read exists.** Bounded by sanity checks, and signed into ShareGuard. See [Multiplier sources](/smart-contracts/multiplier-sources.md). |

The same token can show three different multipliers depending on the source (NVDAx: list API 1.000000, dynamic API 1.000918, contract 1.001701). Tally records every reading, compares them, and says so when they disagree.

## The rule Tally never breaks

Shares are `bigint` end to end. A multiplier that cannot be read is shown as unknown with the reason and is never assumed to be 1:1. A token whose shares are unknown has no Sell button and no share count in the totals.


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