The brief was simple: Build the future of onchain capital markets.
The quality of what teams shipped made the judges’ deliberations genuinely difficult. xStocks’ Director of Engineering Yotam Katznelson: “The bar was high and the winners were hard to call.”
Here’s who came out on top.
1st place: xPrime
xPrime is a prime brokerage for onchain assets, live on Ethereum and Ink. It lets you put your stock portfolio to work:
- Earn yield through strategies like USD carry trade and covered calls
- Borrow against your holdings
- Trade from a single interface
The three strategies on launch range from 12% to 45.2% estimated APY, powered by xStocks as the underlying collateral layer.
2nd place: Stretch by Spreads
Stretch takes the $STRCx dividend and loops it, automatically, for up to 5x more yield. No manual compounding, no complex DeFi navigation.
Deposit, stretch, collect. Clean concept, clean execution.
3rd place: STREAM
STREAM splits a single xStock into two separate tokens:
- Captures dividend rights and trades 24/7
- Gives you leveraged price exposure during NYSE hours
The two can always be recombined to redeem the underlying asset.
It’s a yield tokenization protocol that borrows a concept well-established in traditional fixed income markets and makes it composable onchain.
Currently live on Ink Sepolia and Ethereum Sepolia with 8 assets.
What this hackathon proved
The infrastructure is there.
Builders showed up and shipped working products on top of xStocks in two days, covering prime brokerage, yield amplification, and yield tokenization. These aren’t concepts anymore, they’re live demos with real mechanics.
The xStocks ecosystem is open. If you’re building, the rails are ready for you.
xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not nor will be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice. Individual investors should seek professional independent advice as to the suitability of any investment, including potential tax treatment. Investing in xStocks involves an element of risk. Past performance does not indicate future results. Not available in the U.S., UK, Canada, Australia or to persons in sanctioned jurisdictions. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at assets.backed.fi/legal-documentation to learn more.
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