1 00:00:14,230 --> 00:00:19,806 [HOST] Welcome to X1 Report, your source for the latest in blockchain news. Today, we're diving 2 00:00:19,806 --> 00:00:25,445 into a groundbreaking new protocol called wallstreet.farm, which has just launched on the 3 00:00:25,445 --> 00:00:26,142 X1 mainnet. 4 00:00:26,392 --> 00:00:31,809 [ANALYST] wallstreet.farm is an innovative liquidity farming protocol that promises to pay out daily 5 00:00:31,809 --> 00:00:37,165 stock rewards to its users, effectively turning your liquidity into Wall Street exposure. 6 00:00:37,415 --> 00:00:43,858 [HOST] The protocol works by depositing XNT and USDC.x into the farm, which then deposits them 7 00:00:43,858 --> 00:00:50,524 into XDEX's XNT/USDC.x pool on behalf of the user. In return, you keep the LP position and 8 00:00:50,524 --> 00:00:51,486 trading fees. 9 00:00:51,736 --> 00:00:56,820 [ANALYST] But that's not all. The protocol takes a slice of these fees, along with deposit and 10 00:00:56,820 --> 00:01:01,782 withdrawal fees, converts them into tokenized stocks on XDEX, and pays them out to 11 00:01:01,782 --> 00:01:03,598 liquidity providers every day. 12 00:01:03,848 --> 00:01:09,710 [HOST] This makes wallstreet.farm the first product on X1 that actually uses the tokenized stocks 13 00:01:09,710 --> 00:01:15,441 bridged over the Warp Bridge for rewards. Until now, these nine xStocks were just assets 14 00:01:15,441 --> 00:01:16,874 to buy, sell, or hold. 15 00:01:17,124 --> 00:01:22,188 [ANALYST] The protocol is currently deployed as the program 16 00:01:22,188 --> 00:01:30,870 BWvPEwYZFApCWSeEuTJaPf4ydvFzFsTSim8QCabMJGxs, and thirteen farms are live on it. The 17 00:01:30,870 --> 00:01:37,071 flagship XNT/USDC.x farm wraps the deepest XNT pool on XDEX. 18 00:01:37,321 --> 00:01:43,352 [HOST] Other farms include nine stock pairs against XNT and three memecoin pairs, each against 19 00:01:43,352 --> 00:01:49,383 XNT. Your liquidity never leaves XDEX; the farm holds the LP tokens, tracks your share, 20 00:01:49,383 --> 00:01:51,671 and returns them upon withdrawal. 21 00:01:51,921 --> 00:01:57,217 [ANALYST] Where do these stocks come from? There are three funding streams: trading fees, deposit 22 00:01:57,217 --> 00:02:02,330 and withdrawal fees, and sponsors. The protocol uses these to buy stocks on XDEX and 23 00:02:02,330 --> 00:02:03,974 distribute them as rewards. 24 00:02:04,224 --> 00:02:10,844 [HOST] For example, the XNT/USDC.x farm sweeps its fee vaults daily, buys the stocks on XDEX, and 25 00:02:10,844 --> 00:02:17,390 writes a distribution record on-chain. Rewards sit in your position until you claim them. 26 00:02:17,640 --> 00:02:22,494 [ANALYST] Traders are also involved: swaps routed through the farm's wrapper earn a score for the 27 00:02:22,494 --> 00:02:26,344 day, and the swap fees they paid come back to them in stocks as well. 28 00:02:26,594 --> 00:02:32,064 [HOST] You can choose which ticker you want to be paid in, with up to eight stocks available per 29 00:02:32,064 --> 00:02:37,043 farm. This flexibility allows users to tailor their rewards to their preferences. 30 00:02:37,293 --> 00:02:43,548 [ANALYST] Sponsors play a crucial role here. Any wallet can fund a farm's LP rewards, and the 31 00:02:43,548 --> 00:02:50,105 protocol releases these funds over a run of daily payouts. The X1 Foundation could even 32 00:02:50,105 --> 00:02:55,682 direct USDC.x or XNT into the XNT/USDC.x farm to deepen the critical pool. 33 00:02:55,932 --> 00:03:01,567 [HOST] The first payouts have already cleared on the XNT/USDC.x farm, with two daily 34 00:03:01,567 --> 00:03:08,152 distributions recorded on September 17 and 18. The full loop—from fees collected to stocks 35 00:03:08,152 --> 00:03:11,884 distributed—has now executed end-to-end on mainnet. 36 00:03:12,134 --> 00:03:17,448 [ANALYST] However, it's important to note that the project is unaudited, and the program is 37 00:03:17,448 --> 00:03:23,025 upgradeable. USDC.x and xStocks are bridged assets whose issuers can freeze accounts. 38 00:03:23,025 --> 00:03:28,929 While fee and reward-parameter increases sit behind a 24-hour timelock, withdrawals cannot 39 00:03:28,929 --> 00:03:29,585 be paused. 40 00:03:29,835 --> 00:03:35,696 [HOST] Farming an AMM position also carries impermanent loss, which no reward stream can cancel 41 00:03:35,696 --> 00:03:41,424 out. Despite these risks, wallstreet.farm represents a significant step forward in the 42 00:03:41,424 --> 00:03:45,021 integration of traditional financial assets into DeFi. 43 00:03:45,271 --> 00:03:50,596 [ANALYST] For the first time, liquidity on X1 pays in shares of the companies people actually want 44 00:03:50,596 --> 00:03:55,680 to own. This could be a game-changer for the blockchain space, offering users direct 45 00:03:55,680 --> 00:03:59,735 exposure to major tech firms through their liquidity contributions.