Kraken Launches xStocks Vaults with Estimated Yields up to 2%

Kraken has launched three xStocks vaults offering estimated net yields of up to 2% on tokenized versions of Nvidia shares and two U.S.-listed exchange-traded funds.

Eligible users can deposit SPYx, QQQx, or NVDAx and receive rewards in the same xStock. The estimated net annual percentage yield for SPYx and QQQx is 2%, while it's 1.8% for NVDAx during the initial launch period.

However, users should be aware of the risks associated with this product, including leverage, smart contract failures, cross-chain execution risk, and bad debt. Kraken charges a 25% performance fee on earnings generated by the vaults, but deposits and withdrawals carry no additional platform or Ink network gas fees.