Kraken Brings Variable Yield to Tokenized Stocks with xStocks Vaults

Kraken has introduced xStocks vaults, allowing users to earn variable yield on tokenized versions of Nvidia stocks and two major US ETFs.

The estimated net APYs for SPYx and QQQx are 2%, while NVDAx is at 1.8% during the initial launch period.

The vaults use a leveraged structure, where deposited tokens are used as collateral to borrow stablecoins through DeFi protocols like Kamino on Solana.

Kraken takes a 25% performance fee, which is deducted from the displayed APY. There are no deposit or withdrawal fees, and no gas fees on the Ink network.