Is there an xStocks airdrop?
None is confirmed, and the terms rule out any promise of one. xStocks runs a points program called xPoints, but its terms say: "xPoints have no monetary value, are not transferable, and do not entitle you to receive any tokens, benefits, or assets." They add: "Any future benefits extended to participants are entirely at our discretion and are not guaranteed."
The points page itself is more hopeful: "Your earned points will be used to determine your share of future rewards." What those rewards are has not been published. The terms also say points do not give "any entitlement to receive tokens, airdrops, or other benefits." There is no xStocks project token either; the xStocks are tokenized shares such as TSLAx and SPYx.
What xStocks is
In the docs' words: "xStocks are permissionless tokenized representations of publicly traded stocks and ETFs." Each one is backed 1:1 by the underlying share held with custodians, and they trade around the clock on exchanges, wallets and DeFi apps. "They provide economic exposure to the underlying equity but do not convey shareholder rights, such as voting rights."
The issuer is a Jersey company: "xStocks are issued by Backed Assets (JE) Limited, a Jersey-based special purpose vehicle dedicated solely to the issuance and redemption of xStocks." The tokens run on Solana, Ethereum and several other networks. The product is live; xPoints was announced on 10 March 2026 with the line "The xPoints Program is launching soon." and the points dashboard is now open.
How xStocks points work
You register a wallet on the xPoints dashboard, then points build up each day for the xStocks in it. "Points are automatically tracked for any xStock tokens held in the wallet you're connected to on this dashboard." Three things earn points:
- Holding xStocks in the registered wallet.
- Supplying xStocks as collateral on lending markets such as Kamino, Jupiter Lend, Morpho or Euler.
- Adding xStocks to liquidity pools that accept them, such as Raydium or Orca.
On top of that come several boosts, according to the dashboard and xStocks' public points settings:
- xBoost: "As you continue to hold, lend, or provide liquidity, your boost multiplier increases". The settings cap it at 2x.
- A daily spin: "Spin the wheel to reveal your bonus and apply it to points earned yesterday."
- Social quests: linking Telegram and X gives a permanent 10% boost.
- Protocol quests: "New quests are introduced regularly throughout the season."
- Referrals: you get 20% of the points your friend earns, and the friend gets a 20% boost.
The current extra is a Solflare boost. From 12 October to 4 December 2026, xStocks bought inside the Solflare wallet add 5% to 20% to that day's points, in tiers from $100 to $10,000 or more. Only xStocks bought through Solflare in that window count, and the balance is checked daily at 00:05 UTC. No end date for the xPoints season itself has been published.
Points held on Kraken do not count. Kraken's support page says: "Holding or trading xStocks on Kraken does not currently earn points in the xStocks Points Program."
xStocks airdrop step-by-step guide
No airdrop is confirmed. These steps earn xPoints, which may or may not lead to a reward.
- Check you are allowed in. The terms say: "We currently do not permit participation by persons located in or associated with the United States or any sanctioned country." The list of other excluded countries is below.
- Get xStocks into a self-custody wallet on a supported network: "We support wallets on Ethereum, Solana, Ink, TON, BSC and X Layer." You buy them from a partner exchange, a wallet or a DEX; the xPoints site does not sell them.
Warning xStocks move with the share price. A 10% drop in Tesla is a 10% drop in TSLAx. Only buy what you would hold anyway, not for points.
- Open defi.xstocks.fi/points from a link you typed yourself, connect that wallet and sign the message to register. Registering means you accept the xPoints terms. Never enter a seed phrase anywhere.
- Hold the xStocks, or supply them to a lending market or a liquidity pool that accepts them. Points are tracked automatically.
- Do the extras if you want: the daily spin, the social quests, protocol quests and your referral link.
- Optionally, until 4 December 2026, buy xStocks inside Solflare for the 5% to 20% boost. Solflare does not sell xStocks in the US, Canada, the UK, Australia or Nigeria.
- Stay active. "New accounts that show no activity and no eligibility within 7 days of registration will be automatically removed."
Open xPointsOpens defi.xstocks.fi
xStocks costs and fees
Registering a wallet is free apart from signing a message. Earning points is not: you need xStocks in the wallet, which means buying tokenized shares with real money. Every buy, transfer, deposit into a lending market or pool, and withdrawal pays network gas. Solflare says it charges no fee of its own on xStocks trades, only the Solana network fee. The Solflare boost starts at $100 of xStocks bought.
Buying or redeeming directly with the issuer is a different route with a higher bar: "Retail users are legally permitted to redeem directly with the issuer, subject to KYC requirements and the $5,000 minimum transaction size." On secondary markets there is no issuer minimum.
xStocks risks and eligibility
- US persons are excluded from xPoints and from xStocks. The homepage adds: "xStocks are not available to residents of the United States, United Kingdom, Canada, Australia, or sanctioned jurisdictions."
- Backed prohibits Iran, North Korea, Syria and the United States. It does not serve Afghanistan, Belarus, Central African Republic, DR Congo, Cuba, Ethiopia, Haiti, Iraq, Lebanon, Libya, Mali, Mozambique, Myanmar, Nicaragua, Nigeria, the occupied regions of Ukraine, the Philippines, Russia, Somalia, South Sudan, Sudan, Venezuela, Yemen and Zimbabwe.
- Do not use a VPN. The FAQ says: "By participating, you confirm that you are not a resident of, or accessing the platform from, a restricted region."
- Points can vanish. The terms let xStocks "adjust, cancel, reset, or expire any Points balance, including on a programme-wide or seasonal basis", including for inactivity.
- Nothing of value is promised: "Accumulation of Points does not, under any circumstances, create any expectation of economic return, financial benefit, or future value."
- The terms say "The Programme is not performance-based or volume-based", yet the Solflare boost pays more the more you buy. Treat the boost as a nudge to spend, not a reason to.
- xStocks says it has seen "a significant increase in attempts to abuse the xPoints system through bot farms and inactive accounts", so multiple wallets or farming can get an account removed.
- No age rule is stated in the xPoints terms, and no auditor is named in the docs we read.
Warning Fake xStocks sites and "claim" links appear wherever a points program is popular. Use only xstocks.fi and defi.xstocks.fi, and ignore anyone who messages you first.
Who is behind xStocks?
xStocks was built by Backed Finance, a Swiss company. The xStocks web app is run by Backed Finance AG in Zug, and the tokens are issued by Backed Assets (JE) Limited in Jersey. Kraken agreed to buy Backed Finance on 2 December 2025 for an undisclosed sum, as Ledger Insights and Banking Dive reported. The site footer now names Payward, Kraken's parent, and the X profile reads "xStocks by @Payward." Val Gui is named as General Manager of xStocks in the xPoints announcement. Kraken customers can get xStocks through Payward companies, but only onchain wallets registered on the xPoints dashboard earn points.
Sources
- xPoints terms and conditions xStocks,
- xPoints dashboard and FAQ xStocks
- xPoints config xStocks,
- Introducing xPoints xStocks,
- xStocks xStocks
- Frequently asked questions xStocks docs
- Product legal overview xStocks docs
- dApp terms of service Backed Finance AG
- Restricted countries Backed
- xStocks Points Program FAQ Kraken Support
- xStocks xPoints boost rules Solflare
- xStocks on X xStocks
- Kraken acquires Backed after xStocks tokenized securities volumes hit $10 billion Ledger Insights,
- Kraken to buy tokenized equities firm Backed Banking Dive,
This guide explains how the program works. It isn't financial advice, and no airdrop is guaranteed. Check xStocks's official channels before you connect a wallet or deposit funds.
