{"id":73162,"date":"2026-09-25T17:14:31","date_gmt":"2026-09-25T14:14:31","guid":{"rendered":"https:\/\/lwallet.com.ua\/?p=73162"},"modified":"2026-09-25T17:14:31","modified_gmt":"2026-09-25T14:14:31","slug":"xstocks-xpoints","status":"publish","type":"post","link":"https:\/\/lwallet.com.ua\/en\/xstocks-xpoints\/","title":{"rendered":"xStocks by Kraken: How to Earn xPoints on Tokenized Stocks"},"content":{"rendered":"\r\n\r\n\r\n

xStocks are tokenized stocks and ETFs that give you price exposure to traditional securities through blockchain-based tokens.<\/strong> Each token is backed 1:1 by the corresponding underlying asset, but owning an xStock does not make you a shareholder or give you voting rights. In March 2026, the xStocks ecosystem launched xPoints, a separate rewards program built around on-chain activity.<\/p>\r\n\r\n\r\n\r\n

The key distinction is simple: holding or trading xStocks on Kraken does not earn xPoints<\/strong>. xPoints are based on on-chain activity. Kraken also offers separate products for xStocks holders \u2014 Auto Earn and xStocks Vaults. Below, we\u2019ll explain how these three mechanisms differ, how xPoints work, what is available to users in Ukraine, and what risks to consider before using tokenized stocks in DeFi.<\/p>\r\n\r\n\r\n\r\n

What are xStocks, and where does RWA fit in?<\/h2>\r\n\r\n\r\n
\r\n
\"xStocks<\/figure>\r\n<\/div>\r\n\r\n\r\n

RWA stands for real-world assets \u2014 traditional assets represented on a blockchain as tokens. xStocks follow this model: each token is backed by the corresponding stock or ETF position held within a custody structure.<\/p>\r\n\r\n\r\n\r\n

If you buy NVDAx, for example, you get price exposure to Nvidia stock, not direct ownership of Nvidia shares<\/strong>. xStocks do not provide voting rights or shareholder status. Legally, each xStock is structured as a tracker certificate \u2014 a debt instrument issued by the xStocks issuer rather than direct ownership of the underlying security. That means you take on not only market risk, but also issuer, custody, liquidity, blockchain, and regulatory risk.<\/p>\r\n\r\n\r\n\r\n

xStocks are issued by Backed Assets (JE) Limited. Kraken announced its acquisition of Backed Finance in December 2025, and the Payward group completed the transaction in January 2026. That is why xStocks are often described as a Kraken project, even though the tokens can be withdrawn to self-custody and used on-chain.<\/p>\r\n\r\n\r\n\r\n

As of September 25, 2026, Kraken lists 131 xStocks: 100 stocks, 27 ETFs, and 4 specialized assets. Across the broader xStocks ecosystem, the project reports more than 800 tokenized stocks and ETFs and over $40 billion in cumulative transaction volume<\/strong>. On Kraken Pro, ten of the most popular xStocks trade 24\/7, while the rest trade 24\/5. Once withdrawn to self-custody, the tokens can be used on-chain around the clock.<\/p>\r\n\r\n\r\n\r\n

If the underlying company pays a dividend, xStock holders do not receive a separate cash payment. Instead, the economic effect is reflected through rebasing: the token balance is adjusted to account for the corporate action.<\/p>\r\n\r\n\r\n\r\n

Three different ways to earn rewards with xStocks<\/h2>\r\n\r\n\r\n
\r\n
\"Auto<\/figure>\r\n<\/div>\r\n\r\n\r\n

In 2026, \u201cearning with xStocks\u201d can refer to three very different things. They are separate mechanisms and should not be treated as one rewards system.<\/p>\r\n\r\n\r\n\r\n

Auto Earn \/ Opt-In Rewards \u2014 up to 1% on Kraken<\/h3>\r\n\r\n\r\n\r\n

This is a reward paid by Kraken on eligible xStocks in supported jurisdictions. Once Auto Earn is enabled, eligible assets can earn up to 1% APY<\/strong>, with rewards paid in the same asset you hold. Rates are variable, and availability depends on the specific xStock and your region.<\/p>\r\n\r\n\r\n\r\n

No on-chain activity is required here: the tokens stay on Kraken. Before opting in, check the current rate and availability directly in your account.<\/p>\r\n\r\n\r\n\r\n

xStocks Vaults \u2014 up to 2% on selected assets<\/h3>\r\n\r\n\r\n\r\n

In September 2026, Kraken launched another separate product called xStocks Vaults. At launch, it supports SPYx, QQQx, and NVDAx and uses on-chain lending markets through Kraken\u2019s embedded non-custodial wallet. Kraken currently shows estimated net APYs of 2.0% for SPYx and QQQx and 1.8% for NVDAx.<\/strong> Rates can change as borrowing demand changes in the underlying markets.<\/p>\r\n\r\n\r\n\r\n

Vaults are different from simply leaving assets on an exchange balance: they use DeFi infrastructure, and withdrawals are subject to a three-day waiting period<\/strong>. The risk profile is therefore different from standard Auto Earn.<\/p>\r\n\r\n\r\n\r\n

xPoints \u2014 a separate on-chain rewards program<\/h3>\r\n\r\n\r\n\r\n

xPoints are part of the xStocks ecosystem and are based on on-chain activity. Holding or trading xStocks on Kraken does not earn xPoints.<\/strong> The program is separate from the balance in your Kraken exchange account.<\/p>\r\n\r\n\r\n

[vc_message color=”warning” message_box_style=”classic” message_box_color=”alert-warning” style=”rounded”]<\/p>\r\n

If your xStocks simply remain on Kraken, they may be eligible for Auto Earn or xStocks Vaults depending on the asset and your region, but that does not generate xPoints. Earning xPoints requires on-chain activity through a supported wallet and eligible DeFi protocols.<\/p>\r\n

[\/vc_message]<\/p>\r\n\r\n\r\n

How xPoints work: holding, lending, and liquidity<\/h2>\r\n\r\n\r\n
\r\n
\"xPoints<\/figure>\r\n<\/div>\r\n\r\n\r\n

xPoints launched on March 17, 2026. The official program portal is defi.xstocks.fi\/points<\/a>. xStocks themselves are available across multiple networks, but which networks, assets, and DeFi protocols currently qualify for xPoints should always be checked directly in the dashboard<\/strong>.<\/p>\r\n\r\n\r\n\r\n

The basic logic is straightforward: the larger your position, and the longer and more actively it is used on-chain, the more weight it can carry in the xPoints system<\/strong>. Exact multipliers and rules can change during a season, so old tables showing fixed 1x, 5x, or 7x rates can quickly become outdated.<\/p>\r\n\r\n\r\n\r\n

Boosts and referral rewards<\/h3>\r\n\r\n\r\n\r\n

When xPoints launched, early participants could receive a +20% boost after connecting a wallet<\/strong>. The program has since used other temporary boost campaigns as well, so the original +20% should not be treated as a guaranteed bonus for every new wallet. Check the dashboard for the current terms.<\/p>\r\n\r\n\r\n\r\n

The program may also reward consistent activity with additional boosts and occasionally run quests or limited-time campaigns. Review the current requirements before taking part, because social tasks, multipliers, and bonus mechanics can change.<\/p>\r\n\r\n\r\n\r\n

The main ways to earn xPoints<\/h3>\r\n\r\n\r\n\r\n
Activity<\/th>xPoints weight<\/th>Example<\/th>Main additional risk<\/th><\/tr><\/thead>
Hold in self-custody<\/td>Base level<\/td>Connected wallet holding xStocks<\/td>xStock price movement<\/td><\/tr>
Lending<\/td>Higher than base<\/td>Kamino and other supported markets<\/td>Smart contract risk; liquidation if you also borrow against collateral<\/td><\/tr>
Liquidity (LP)<\/td>Highest among the core strategies<\/td>Raydium, Orca, Byreal<\/td>Impermanent loss + smart contract risk<\/td><\/tr><\/tbody><\/table><\/figure>\r\n\r\n\r\n\r\n

Holding xStocks in your own wallet is the base level.<\/strong> You are not taking on the additional risk of a lending protocol or LP pool: the tokens simply remain in a connected self-custody wallet. The main risks are still the xStock itself, the blockchain, and the issuer\u2019s infrastructure.<\/p>\r\n\r\n\r\n\r\n

Lending gives your position more weight in the program.<\/strong> On Solana, Kamino is one option: you deposit xStocks into a lending market and can earn borrower interest in addition to xPoints. If you only supply the asset and do not borrow against it, you do not have a debt position that can be liquidated. Smart contract risk and price risk still remain.<\/p>\r\n\r\n\r\n\r\n

Providing liquidity carries the most weight among the core xPoints strategies, but it also adds more complexity and risk.<\/strong> For example, an xStock can be paired with USDC on Raydium, Orca, or Byreal. You may earn trading fees, but you also take on impermanent loss: if the relative prices in the pair move significantly, the composition of your position when you exit can differ from what you originally deposited.<\/p>\r\n\r\n\r\n\r\n

Index ETFs such as QQQx or SPYx are often less volatile than individual stocks such as NVDAx or TSLAx, but that does not guarantee lower impermanent loss<\/strong>. The outcome depends on price movement relative to USDC, the liquidity range, pool structure, and how long the position remains open.<\/p>\r\n\r\n\r\n\r\n

Your xPoints balance updates periodically, and rewards can depend on position size, type of activity, and how consistently you participate.<\/p>\r\n\r\n\r\n

[vc_message color=”warning” message_box_style=”classic” message_box_color=”alert-warning” style=”rounded”]<\/p>\r\n

xPoints terms can change during a season. Before committing capital to a protocol just to earn points, check the current tiers, boosts, supported networks, and quests on the official portal.<\/p>\r\n

[\/vc_message]<\/p>\r\n\r\n\r\n

How to start farming xPoints: step by step<\/h2>\r\n\r\n\r\n
\r\n
\"How<\/figure>\r\n<\/div>\r\n\r\n\r\n

The example below uses Solana because it has a convenient stack of tools such as Kamino, Raydium, Orca, Phantom, and Solflare. xStocks are multi-chain assets, but xPoints eligibility depends on which networks and protocols are currently supported<\/strong>, so check the official dashboard before taking any action.<\/p>\r\n\r\n\r\n\r\n

What you need to get started<\/h3>\r\n\r\n\r\n\r\n