Gate has now completed the technical maintenance for Honeywell xStock (HONX) and will officially resume HONX deposit, withdrawal, and trading services on July 3, 2026, at 13:30 (UTC).
During this maintenance, we addressed the impact of the underlying asset Honeywell (HON) stock consolidation and Honeywell Aerospace (HONA) spin-off listing on the HONX token. The explanation for all users is as follows:
Underlying Stock Corporate Action Status
Honeywell has completed the following corporate action:
HONA spin-off listing: shareholders receive 1 HONA share for every 2 HON shares held.
HON stock: 2:1 consolidation completed, meaning every 2 shares of HON are consolidated into 1 share of HON.
Therefore, in the stock market: 2 shares of HON will be adjusted to 1 share of HON + 1 share of HONA.
HONX Token Handling
To maintain market continuity and token system stability, the HONX token itself has not been merged or split, and the total token supply and each user's holdings remain unchanged.
The HONX pegging relationship is adjusted as follows:
Before adjustment: 1 HONX token ≈ 1 HON share;
After HON stock completes a 2:1 consolidation: 1 HONX token theoretically corresponds to approximately 2 shares of pre-consolidation HON stock;
After the HON stock spin-off, the token issuer has completed the underlying asset adjustment in accordance with this corporate action, implementing an approximately 1:2 split to realign the pegging relationship.
After adjustment: 1 HONX token continues to represent 1 share of HON stock (currently approximately 0.99906 shares).
Therefore, after this corporate action is completed, the valuation basis of HONX remains essentially the same as before the corporate action.
Onchain Special Notes
The onchain displayed value is the UI Amount, which differs from the actual token balance held by the user. This value approximately equals the corresponding stock quantity and is not the user's actual token balance (base amount). When users transfer tokens, it does not affect the actual holdings or the amount of tokens transferred, so there is no need to worry about the onchain display difference.
Impact on User Holdings and Value
Your HONX holdings will not change as a result.
The Net Asset Value (NAV) per token remains consistent before and after this corporate action, and the asset value itself will not change as a result of the corporate action.
In short:
Before the corporate action, 1 HONX represents approximately 1 share of HON stock.
After the 2:1 stock consolidation of HON shares, the per-share price has been adjusted accordingly.
After the HON stock spin-off, the token issuer performed an approximately 1:2 split to adjust the pegging relationship.
After the adjustment, 1 HONX will continue to represent 1 share of HON stock (currently approximately 0.99906 shares).
Therefore, the number of HONX held by users remains unchanged, and the underlying asset value per HONX remains consistent. Users do not need to take any action.
Important Risk Warning for Resumption of Trading
Due to Honeywell's corporate action involving both the HONA spin-off listing and stock consolidation, and given that HONX has completed its underlying asset adjustment and pegging ratio update, the market may experience significant short-term price volatility due to information asymmetry or market sentiment. Before trading, please ensure you fully understand the above changes, rationally assess the risks, and make prudent investment decisions.
Gate Team
July 3, 2026
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