A new protocol called wallstreet.farm went live on X1 mainnet on September 16 and paid out its first daily stock rewards this week. The pitch is on its own front page, and it is hard to improve on: your liquidity buys Wall Street.

Put XNT and USDC.x into the farm and it deposits them into XDEX's XNT/USDC.x pool on your behalf. You keep the LP position and the trading fees that come with it. On top of that, the protocol takes a slice of those fees, plus the deposit and withdrawal fees paid by everyone else in the same farm, converts them into tokenized stocks on XDEX, and pays them out to liquidity providers every day. You choose which stocks you are paid in.

That makes it the first product on X1 that actually does something with the tokenized stocks bridged over the Warp Bridge. Until now the nine xStocks on X1 - TSLA.X, NVDA.X, and the seven that followed - were something you could buy, sell or hold. They are now something a protocol can pay you in.

What is actually deployed

The program is BWvPEwYZFApCWSeEuTJaPf4ydvFzFsTSim8QCabMJGxs, deployed to X1 mainnet on September 16, 2026. Thirteen farms are live on it, each wrapping an XDEX pool: the flagship XNT/USDC.x farm, which wraps CAJeVE…xRvR, nine stock pairs against XNT (TSLA.X, NVDA.X, GOOGL.X, SPCX.X, SPY.X, META.X, AMD.X, PLTR.X, COIN.X), and three memecoin pairs, DGN, DAWIDOS and HAMLET, each against XNT.

Your liquidity never leaves XDEX. The farm holds the LP tokens, tracks your share, and hands them back when you withdraw - which you can do at any time, with no lock.

Where the stocks come from

There are three funding streams, and none of them is an emission.

Trading fees. Liquidity routed through the farm earns XDEX's normal swap fees. LPs keep the large majority of them; the protocol takes a 25% performance cut of that fee flow and spends it on stocks for the same LPs.

Deposit and withdrawal fees. Joining a farm costs 1% of the liquidity added; leaving costs 2.5% of the LP withdrawn. A small part of each goes to the protocol wallet and the rest is converted into stocks for the people still in the pool. It is a straightforward stay-longer-earn-more design - the same instinct behind the loyalty weight, which ramps a position's reward share from 1× to 2× over 180 days in the farm.

Sponsors. This is the part worth watching, and we come back to it below.

Each farm sweeps its fee vaults once a day, buys the stocks on XDEX, and writes a distribution record on-chain. Rewards sit in your position until you claim them. Traders are in the loop as well: swaps routed through the farm's wrapper earn a score for the day, and the swap fees they paid come back to them in stocks.

You pick the ticker

Up to eight stocks can pay rewards in a farm at once, and eight are switched on today. An LP can take the default basket - every stock the farm buys, split across the lot - or point their whole share at a single ticker and be paid only in TSLA.X, or only in NVDA.X, or only in SPCX.X. The choice is stored in your position account, and a new choice takes effect from the next payout rather than the current one, so nobody can wait until the day's stocks have been bought and then move onto the fattest pot.

For anyone who has looked at DeFi rewards before, the difference is worth sitting with. The yield is not a governance token whose price depends on the protocol paying it. It is Tesla, NVIDIA, Alphabet and SpaceX exposure, bought on the open market with fees that were already being paid.

Sponsors: paying people to deepen your own pool

Any wallet can fund a farm's LP rewards. A sponsor commits a budget in one of the farm's pool tokens or one of its reward stocks, and the program releases it in equal parts over a run of daily payouts. The budget only starts moving once there are LPs to pay, and if the farm later switches a sponsored stock off, the sponsor can reclaim whatever has not been released.

The use cases follow immediately. A memecoin team that wants a deeper book can sponsor its own token - or XNT - to the LPs of its own pair, turning "please provide liquidity" into a paid, scheduled, on-chain offer. A stock pair can be sponsored the same way. And the X1 Foundation, if it chose to, could direct USDC.x or XNT into the XNT/USDC.x farm and pay LPs to deepen the single pool that the bridge, the DEX price feed and every limit and TWAP order on the chain depend on.

That is the strategic point of the whole design. Every farm on the list - the stock pairs, the memecoin pairs - exists to pull liquidity toward XDEX, and the XNT/USDC.x pool is the one that matters most. Thin books are the constraint on everything else X1 wants to do, and this is a protocol built specifically to attack that constraint with someone else's fees rather than with inflation.

Early liquidity is where it pays

The reward pot in each farm is funded by fees and split across the LP shares that asked for it. The arithmetic runs in the obvious direction: the same fee flow divided among fewer shares is a bigger cut each. A pool with real trading and shallow liquidity pays its LPs the most, and the payout shrinks as the pool fills up and the protocol succeeds at its own goal. That is not an accident of a young deployment - it is the bootstrapping mechanism, and it is the reason to look at the farms now rather than after they are crowded.

The first payouts have cleared

Two daily distributions have run on the XNT/USDC.x farm, on September 17 and September 18, and both are recorded on-chain with the day's liquidity, volume and the stock amounts paid to LPs and to traders. The rewards have been claimed. The full loop - fees collected, converted to stocks through XDEX, distributed per position, claimed to a wallet - has now executed end to end on mainnet in tokenized Tesla, Alphabet, NVIDIA and SpaceX. Whatever else is still to come, the machine runs.

What to know before depositing

The project states plainly on its own site that it is unaudited. The program is upgradeable, as is XDEX underneath it. USDC.x and the xStocks are bridged assets whose issuers can freeze accounts. On the protection side: fee and reward-parameter increases sit behind a 24-hour timelock in the open before they can take effect, and withdrawals cannot be paused - the exit is always available. Farming an AMM position also carries impermanent loss, which no reward stream cancels out.

Those are the normal terms of a new DeFi protocol on a young chain. What is not normal is the reward: for the first time, liquidity on X1 pays in shares of the companies people actually want to own.