xStocks - buy TSLA, AMZN, AAPL While Farming The Airdrop
Not long ago, the HIP-3 proposal was introduced to Hyperliquid. This meant that real-world assets (RWAs), such as gold, silver, and oil, became tradable on-chain. In addition to commodities, US stocks such as NVDA & TSLA are now being traded on Hyperliquid perps.
This offers good ways to hedge your crypto trading when experiencing harsh market conditions, such as those we are going through right now with the situation in the Middle East. However, leverage trading isn't for everyone, and unfortunately, spot stocks aren't yet available on Hyperliquid.
If you are still looking for stock exposure on the spot market, xStocks on Solana might be just the place for you. They have a wide range of stocks available on multiple Solana DEXs, such as Jupiter, and all of them are 1:1 backed by the actual real stocks.
This is how it works: for example, xStocks buys and holds a certain amount of NVDA, tokenises them, and releases an equal amount into circulation on-chain as NVDAx. Their proof of reserves is accessible for all users as a read-only to verify the collateral on-chain.
Not Only For Holding
xStocks also has a points program hinting at a possible future airdrop, and earning these xPoints couldn't have been made any easier: all you need to do is hold any xStock and watch the daily points accumulate.
If you are uncertain about buying any tokenised stocks at this very moment, I'd suggest joining their points program anyway, since daily check-ins earn you points and increase your multiplier. All you need is a Solana wallet.
If the time is right and you decide to buy some xStocks, holding those isn't the only way of earning xPoints. Their system is tiered:
- Base Tier - Hold xStocks
- Higher Tier - Lend xStocks
- Highest Tier - Provide Liquidity
Lending happens on Kamino, and even though the supply APY isn't that great itself, they do offer a pair-specific incentives, meaning if you borrow against your xStocks now used as collateral, you'll get a certain amount of USDC as an incentive. Besides, the higher the tier is, the more points we'll earn.
The best way to earn points is to provide liquidity on Orca, Raydium, or Byreal. You can either pair your xStocks with SOL or USDC. The APR is obviously higher with a more volatile SOL.
The pools are so-called concentrated liquidity pools, meaning you can choose the price range to maximise yield. However, note that if either side of the position falls out of the range, you are then 100% in that position, for example, SOL surges while MSTR price falls = 100% in MSTR if out of range. After this, you'll have to wait for it to get back into the range or rebalance (withdraw, swap 50/50, deposit again).
xStocks also has a referral program which allows you to earn 20% of the points generated by your referrals. By using my referral link, you will earn a 20% points. Just log in with your Solana or EVM wallet and start collecting points!
Conclusion
All in all, xStocks is a great opportunity to get some stock exposure while farming a potential airdrop. I'm currently only holding TSLA, but planning on buying a few others if and when we get a decent dip in the tradfi markets. While my approach to crypto has always been more short-term, focused on heavy rotation, I'm planning on creating a long-term portfolio with selected stocks.
On-chain finance is rapidly changing, and I'm not going to be just a crypto guy or just a tradfi guy. Why label yourself with something when we can be all over the place?
Thank you for reading, and check out other airdrop opportunities below! 🔽
🔹 Hyperliquid - the best perp DEX out there. Trade, stake & farm the next big airdrop! 🔹 Dreamcash - perps trading, points program - ref code: R7FI8M 🔹 Pacifica - under farmed perp dex on Solana. Invite code needed: 0P45XY05CW72G5YF if this has already been used, ask for more in the comments! 🔹 Altura - the best place to park your stables: +20% base APY & ~20% $ALTU rewards APY 🔹 VOLO - stake SUI to earn APR & airdrop points! 🔹 Pawtato Land - very useful SUI dashboard, earn XP for the airdrop by completing small tasks 🔹 Huma Finance - easy to farm an airdrop on Solana. Deposit USDC, earn APR % points 🔹Solstice - the best airdrop farm on Solana right now! Use ref code: tPUK2KKquW to earn 1,000 Flares
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