Kamino Becomes First Major DeFi Lender to Accept Tokenized Stocks as Collateral
Kamino on Monday announced it has integrated xStocks on Kamino Lend – the largest lending protocol on the Solana blockchain, with a total value locked (TVL) of $2.3 billion – to let users borrow crypto using tokenized stocks as collateral.
xStocks, launched on June 30 by Backed, are tokenized stocks pegged 1:1 to the real-world shares they represent. xStocks supports more than 60 stocks and exchange-traded funds (ETFs) so far, including Apple (AAPL) and Tesla (TSLA). These assets, which are available on-chain 24/7, can be used as collateral to borrow stablecoins on Kamino, according to a press release viewed by The Defiant.
Chainlink will serve as the official price feed provider for Kamino’s xStocks integration. Through its custom-built xStocks oracle, Chainlink will deliver sub-second price updates for tokenized equities.
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