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- Kamino Finance integrates with Chainlink Data Streams to enable tokenized stock trading.
- Chainlink leads the oracle sector with 63% market control, demonstrating increased demand.
Chainlink (LINK) plays an important infrastructure role in the Kamino xStocks ecosystem. Kamino revealed that Chainlink provides secure, tamper-proof data feeds for tokenized stocks, including META, TSLA, NVDA and GOOGL, on Solana.
Kamino has announced integration with xStocksFi and BackedFi. With this integration, users can now trade tokenized stocks and exchange-traded funds (ETFs) directly on the market. Solana blockchain. Kamino highlighted previous challenges with capital rotation between crypto and equities. Previously, accessing stock and ETF exposure required an off-ramp from Solana and xStocksFi.
Now everything happens in seconds across the chain, with more than $120 million already wagered decentralized finance (DeFi) protocols. Kamino revealed that it has become a primary location for xStocks on Solana.
Chainlink and xStocks Partnership | Source: Kamino
Specifically, xStocks are tokenized versions of real stocks and ETFs. Some examples are METAx, GOOGLx, TSLAx and NVDAx. These assets are backed 1:1 by actual shares, held with regulated custodians, and process dividends via automatic rebasing.
Under the Solana DeFi protocol, users can acquire assets such as METAx, GOOGLx, TSLAx, and NVDAx through Kamino Swap. This platform allows users to compare prices across liquidity providers, know when stocks are open/closed, and view exact spreads against centralized exchanges.
Once acquired, users can use the xStocks as collateral for loans. They can loop through Multiply for up to 2x exposure on SPYx, QQQx, and TSLAx. This provides an integrated trading interface with chart insight, access and liquidation, and full position management.
Kamino pointed out that the integration of xStocks into its platform has shown consistent growth, approaching $5 million in size with over 270 users. Despite broader swings in the crypto market, activity in xStocks has remained steady, reflecting demand for equity exposure.
What role does Chainlink play?
Kamino explained that in the X-thread Chain link provides secure, tamper-proof data feeds that enable reliable on-chain trading, lending, and leveraging tokenized stocks. Chainlink pulls real-time quotes from multiple US stock exchanges and provides updates via its custom Data Streams oracle solution.
Chainlink’s role is important because the liquidity in the chain alone is thin and volatile. One of the main benefits is that Chainlink automatically pauses Kamino activities to prevent bad transactions. It also maintains stability during after-hours trading and keeps token prices in sync with the underlying assets. The Chainlink protocol is a good fit for the xStock integration, given its leading position in the oracle sector. Like us covered in our latest report, Chainlink leads the oracle sector with approximately 63% market control.
Flex Perpetual recently integrated Chainlink Data Streams onto its platform to boost trading in the tokenized US stock market. If noted in our earlier post, Flex leveraged the data streams to power AAPL, MSTR, NVDA, and TSLA. Meanwhile, this isn’t the first time Kamino has used Chainlink Data Streams. In April, Kamino integrated the Chainlink data streams to improve the real-time quality of market data and reduce latency.