Kraken Vaults Unlock Idle Tokenized Stock Value

Kraken has launched xStocks Vaults, allowing users to earn onchain yield on tokenized stocks. The exchange now offers vaults for SPYx, QQQx, and NVDAx, which can be deposited and compounded over time. This move aims to put idle capital to work.

The new vaults are built by Kamino, Veda, and Sentora, with Chainlink handling cross-chain transfers and pricing. The initial estimated APYs for the vaults are 2% for SPYx and QQQx, and 1.8% for NVDAx.

Kraken's Head of Kraken Pro, Darius Tabatabai, stated that 'Every xStocks position sitting untouched is capital not working as hard as it should.'

The product carries real risk, including the possibility of liquidation due to a sharp drop in asset value. Deposits carry no insurance or guarantee.