SP500 tokenized ETF (xStock) (SPYX)

Wu reported that the on-chain trading platform Nado posted an announcement that tokenized US stock ETF assets SPYx and QQQx within the xStocks system are now available as platform collateral. SPYx and QQQx correspond respectively to the S&P 500 ETF SPY and the Nasdaq 100 ETF QQQ. Nado stated that users can retain their spot exposure to US stock indices while using them as margin to trade crypto, commodity, equity and forex-related perpetual contracts, and can borrow USDT0 using SPYx and QQQx as collateral.
https://t.co/UQHgCeyrC2

Good evening from GMT+7 🌙 Just beta tested a new cross chain risk guard on @xStocksFi: it auto nudges SPYx NVDAx to greener pools when drift spikes. Rotation stayed smooth through the wobble. How are you tuning your guardrails tonight? https://t.co/hsqwKg0ycG

If DeFi was 100% safe, this would be the greatest deal in the history of finance

You buy tokenized SPY (US S&P 500 index) with ticker SPYx on Solana

Deposit it on Jupiter Lend and earn 2% APY on top of stock market returns (!)

Getting SPY returns + 2% APY sounds small but for institutions it's insanely high. They're used to paying fees, not getting yield. Even 1% would be fantastic

Without DeFi risk, TVL would be tens of billions of $ on this

With DeFi risk it's $8 million

Regulated tokenized stocks + yield like this + safer custody will be a game changer. Just not there yet