xStocks airdrop guide: how to farm xPoints on xStocks (2026)

What is xStocks?

xStocks is a tokenized equities platform that brings real Wall Street stocks on-chain as Solana SPL tokens, with each token backed 1:1 by the underlying security held by a regulated custodian - meaning NVDAx is a direct on-chain claim on Nvidia shares, not a synthetic derivative. The platform was built by Backed Finance AG, a Swiss-regulated entity operating under the Swiss DLT Act, which was fully acquired by Kraken in December 2025. Kraken's co-CEO described the acquisition as "foundational work for the next era of market structure."

The product scope is substantial. Users can buy, sell, and hold tokenized versions of US stocks and ETFs including NVDAx (Nvidia), AAPLx (Apple), TSLAx (Tesla), SPYx (S&P 500 ETF), QQQx (Nasdaq-100), and dozens more - all trading 24/7 without traditional market hours restrictions. Because they are Solana SPL tokens, xStocks are fully composable: users can provide liquidity on Raydium and Orca, lend and borrow on Kamino Finance using xStocks as collateral, and interact with them across any Solana DeFi protocol. The tokenized equities market surpassed $1 billion in total value by March 2026 with over 193,000 holders and $2.5 billion in monthly transfer volume. In March 2026, Nasdaq announced a formal partnership with Kraken to distribute tokenized stocks in Europe and other international markets, with xStocks serving as the infrastructure layer.

Is the xStocks airdrop confirmed?

xStocks launched its xPoints programme on March 11, 2026 and has not confirmed a token, but the programme's language - "at the end of the season, participation matters" - is one of the clearest pre-TGE signals in the current cycle. Kraken is one of the longest-standing exchanges in crypto, which raised $800 million at a $20 billion valuation with Citadel Securities as a backer. An exchange at that scale does not acquire a regulated tokenized equity issuer and build a points programme without a clear monetisation plan. The Nasdaq partnership adds a further institutional dimension that most DeFi protocols cannot match.

Early wallet connectors receive a permanent 20% xPoints boost. The programme covers holding, lending, liquidity provision, and DeFi interactions - with the points structure clearly designed to measure who is most deeply integrated into the xStocks ecosystem. Discord roles are also tied to xPoints balances, suggesting the team is building a layered reward structure beyond a simple volume metric. Backed Finance has raised $9.5 million across two funding rounds prior to the Kraken acquisition.

xStocks Airdrop Details

• Project: xStocks (by Backed Finance / Kraken)

• Chain: Solana (SPL tokens)

• Type: Tokenized equities (stocks and ETFs backed 1:1 by real securities)

• Status: Ongoing - live, xPoints Season active since March 11, 2026

• Token: Not yet announced

• Points programme: xPoints - earned by holding, lending, providing liquidity, and DeFi interactions

• Early adopter bonus: 20% permanent boost for early wallet connectors

• Top multiplier: 7x for providing liquidity on Raydium, Orca, or Byreal

• Lending multiplier: 5x for lending on Kamino Finance

• Base rate: 1x for simply holding in a connected wallet

• Notable backers: Kraken (acquirer, Dec 2025), Backed Finance ($9.5m raised)

• Institutional signal: Nasdaq-Kraken partnership announced March 2026

• Available on: xstocks.fi and via Kraken

• Also tradeable on Hotstuff: hotstuff.trade (separate points programme - see below)

How to Farm the xStocks Airdrop

To farm xStocks, connect your wallet early for the permanent 20% boost, acquire xStocks tokens via the platform or a DEX, and deploy them into the highest-multiplier activity you are comfortable with - liquidity provision on Raydium earns 7x, lending on Kamino earns 5x, and simply holding earns 1x.

1. Connect your wallet at xstocks.fi early. Go to defi.xstocks.fi/points and connect your Solana wallet. Early connectors receive a permanent 20% xPoints boost that applies to every point you ever earn.

2. Acquire xStocks tokens. Buy directly on the xStocks platform, through Kraken, or via Jupiter Aggregator and Raydium using USDC or SOL. For lower-volatility farming, index ETF tokens like SPYx or QQQx are steadier than individual stocks. For directional conviction, individual names like NVDAx or TSLAx are available.

3. Deploy to Kamino Finance for a 5x multiplier. Lending NVDAx, SPYx, or QQQx into Kamino's dedicated xStocks lending pool earns 5x xPoints multiplier plus a lending yield from borrowers. Kamino is the largest money market on Solana with nearly $3 billion in TVL, making it a well-established and battle-tested venue for this strategy.

4. Provide liquidity on Raydium, Orca, or Byreal for the 7x multiplier. The highest xPoints multiplier available is 7x for liquidity provision. Pair xStocks with USDC in liquidity pools on any of the three supported DEXes. This carries impermanent loss risk as one asset is a stock token and the other is a stablecoin - price moves in the underlying stock widen the gap. Concentrated liquidity positions in a tight range around the current price maximise fee income and points but require more active management.

5. Hold xStocks in your wallet for base 1x accumulation. For users who prefer no DeFi complexity, simply holding xStocks in a connected wallet earns the 1x base rate passively. This is the simplest strategy and still builds a consistent points history.

6. Trade xStocks on Hotstuff for a second airdrop footprint. Hotstuff is a high-performance perp DEX that supports trading of tokenized stock positions including NVDAx. Hotstuff launched its own points programme in February 2026 with weekly distributions. Trading xStocks-related positions on Hotstuff earns Hotstuff points independently from xStocks xPoints - meaning the same capital can generate two separate airdrop footprints simultaneously. Use the invite code at web3wikis to access the platform.

7. Engage with the Discord role system. xStocks has tied Discord roles to xPoints balances. Holding an OG role (obtained by entering a non-trading stock ticker in the get-og-role channel) is a separate signal of early engagement that may factor into distribution.

How much does it cost to farm xStocks?

The primary cost of farming xStocks is the capital required to purchase and hold the underlying stock tokens, plus Solana network gas which is negligible at under $0.01 per transaction. Liquidity provision carries impermanent loss risk from the stock-to-stablecoin price divergence. Lending on Kamino is lower risk than LP provision but still carries smart-contract risk. Simply holding xStocks in a wallet is the lowest-cost strategy but earns the lowest multiplier.

One significant advantage over most DeFi farming: xStocks hold their underlying value by design because they are backed 1:1 by real securities. The capital you deploy does not evaporate if the "protocol" fails - what you own is a regulated claim on actual stocks. The DeFi risk is in the smart contracts wrapping those claims, not in the backing assets themselves.

Is xStocks safe and legit?

xStocks is one of the most institutionally credible tokenized asset projects currently available - it is backed by Kraken, issued by a Swiss-regulated entity under the Swiss DLT Act, and has attracted a formal Nasdaq partnership - but users should understand the regulatory and custody model before depositing.

Each xStock token is backed by real shares held by a regulated custodian. This is genuinely different from most DeFi protocols where the underlying backing is algorithmic or synthetic. The regulatory risk is that access may be restricted in certain jurisdictions - verify eligibility for your region before using. Smart-contract risk exists in the Solana programmes that manage the tokens and DeFi integrations. Use only the official xstocks.fi domain, verify contract addresses through official channels, and never share your wallet seed phrase.

xStocks Airdrop FAQ

What are xPoints and how do I earn them?

xPoints are the xStocks loyalty programme, launched March 11, 2026. They are earned by interacting with the xStocks ecosystem: holding xStocks in a connected wallet earns a 1x base rate; lending on Kamino Finance earns a 5x multiplier; providing liquidity on Raydium, Orca, or Byreal earns a 7x multiplier. Early wallet connectors receive a permanent 20% boost on all future points. The programme says "at the end of the season, participation matters" - suggesting a future distribution event tied to accumulated points.

What is the connection between xStocks and Kraken?

Kraken acquired Backed Finance - the Swiss company that issues xStocks tokens - in December 2025. Kraken co-CEO Arjun Sethi called it "foundational work for the next era of market structure." This makes xStocks the only tokenized equity product directly owned by one of crypto's oldest and largest exchanges. In March 2026, Nasdaq announced a formal partnership with Kraken to distribute tokenized stocks in Europe and other international markets, with xStocks as the infrastructure layer.

What is Hotstuff and why does it matter for xStocks farming?

Hotstuff is a high-performance perp DEX that supports perpetual futures on crypto, equities, metals, and US stocks including xStocks-related tickers like NVDAx. It launched its own points programme in February 2026 with weekly distributions. Trading xStocks positions on Hotstuff earns Hotstuff points separately from xStocks xPoints, giving users two independent airdrop footprints from the same capital. Access via hotstuff.trade - the platform currently requires an invite code to access.

Does xStocks pay dividends on tokenized stocks?

Yes. xStocks passes through dividend payments automatically. For example, PepsiCo xStock (PEPx) holders received their share of the company's March 31, 2026 dividend, automatically converted into additional PEPx tokens. This means your position grows over time from dividends in addition to price appreciation, making xStocks a yield-generating holding independent of any points programme.

Is xStocks available in all countries?

xStocks has expanded significantly in 2026, including a South Africa launch through Luno (with rand settlement) and a Latin America launch through Bitso in Argentina. Availability varies by jurisdiction due to securities regulations. Check xstocks.fi and the platform's terms for your specific country. US users should verify current regulatory status before accessing the platform.

Related: Current Finance for SUI DeFi yield farming alongside xStocks on SUI. Full list: 200+ airdrops in 2026.