Kraken's xStocks starts points program, hinting at possible ecosystem token
Kraken's tokenized stock platform, xStocks, launched the xPoints rewards program, potentially signaling a future ecosystem token launch.Summary
Kraken-linked tokenized equities platform xStocks is launching a rewards program called xPoints to incentivize trading, liquidity provision, and DeFi usage of its onchain stock tokens. This strategy, common in crypto, involves rewarding early adoption, which often precedes the launch of a governance or ecosystem token, suggesting xStocks might introduce one despite not announcing it yet. The program aims to align long-term contributors with the ecosystem's growth, offering potential future benefits. This move occurs as tokenized equities sector value locked surpasses $1 billion, and xStocks itself has processed over $25 billion in volume since launch. Furthermore, Nasdaq recently announced plans to collaborate with Kraken to distribute tokenized public stocks outside the U.S.
(Source：CoinDesk)