Kraken-linked tokenized equities platform xStocks plans to launch a rewards program targeting traders’ liquidity providers and DeFi builders using its onchain equity tokens.
The initiative, called xPoints, will track activity across supported trading venues and integrations. Participants can earn points by trading tokenized US stocks that provide liquidity or by using the assets in decentralized finance (DeFi) applications.
Points programs have become a common strategy in crypto to encourage early adoption of new platforms. In many cases, projects later convert accumulated points into governance tokens or other ecosystem rewards. Although xStocks has not announced a token yet, the initiative could pave the way for a potential token launch.
xStocks said the points program is intended to align long-term contributors with the growth of its ecosystem. Participants who accumulate points can access future benefits linked to the platform when the program ends, although details have not been disclosed.
The move comes as tokenized stocks have emerged as one of the fastest growing sectors in crypto. The category now holds more than $1 billion in value locked up, tripling in size over the past six months, data from RWA.xyz shows.
xStocks said its tokenized stock offering has processed more than $25 billion in transaction volume in the eight months since launch and has expanded across multiple blockchain networks.
Traditional financial firms have also shown interest in tokenized stocks. Earlier this week, Nasdaq said it plans to partner with Kraken to distribute tokenized versions of public stocks to investors outside the US, part of a broader push by the exchange operator to bring blockchain infrastructure into capital markets.
Read more: Tokenization still at the start of the hype cycle, but needs more use cases, say specialists
