what's SP500 xStock?
SP500 xStock (SPYX) is a blockchain-based tokenized asset that mirrors the performance of the SPDR S&P 500 ETF Trust (SPY), providing decentralized exposure to the S&P 500 index. It allows users to trade and hold a digital representation of the ETF on-chain, bridging traditional finance with crypto ecosystems for seamless integration into DeFi applications. The token operates through a 1:1 backing mechanism, where each SPYX is supported by underlying SPY shares held in secure custody by the issuing platform. This enables features like 24/7 trading, fractional ownership, and liquidity provision on decentralized exchanges, without the need for traditional brokers or intermediaries.
SPYx trades live 24/7 on Kraken Pro, ranking as one of its top 10 xStocks.
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Integrated with Kamino Finance's lending stack as part of the xStocks Market, enabling use of SPYx (S&P 500 tokenized equity) as collateral with up to 3.7× leverage through Kamino's Multiply feature.
SPYx trades live on Kraken Pro with 24/7 availability as one of the top 10 xStocks on the exchange.
Integration with FalconStable allows SPYx holders to earn DeFi yields up to 14% APY through the protocol's staking mechanism with lock periods ranging from 3 to 12 months.
Recently launched token achieves top trading volume with robust liquidity metrics