xStocks Points officially launched, take a look at the points panel, I accumulated over 7500 points in a single day (total points reached 11000).
The official clearly indicates that the efficiency of earning points from high to low is: providing liquidity for trading pairs > depositing into lending protocols > holding tokens in wallets.
For someone like me who has been a long-term xStocks LP on Byreal, it is undoubtedly an added bonus, and here is a brief explanation of why I highly recommend doing xStocks LP on Byreal.
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Currently, xStocks is mainly popular on Solana, with Orca, Kamino, and Byreal being the most active, making it the first protocol to record xPoints this time.
1. Extreme capital efficiency
Let's start with the most intuitive APY (or Fees).
Byreal: ~30%, through CLMM characteristics, if a narrower price range is set, the APY of the LP position may have a chance to be higher.
Orca: ~1%, the trading volume of xStocks assets on the platform is low, and a single asset has multiple pools (for example, SPY has up to 1x pools), further dispersing liquidity and trading.
Kamino: 2.53%, coming from the platform's weekly 2000 USDC incentives. Due to low borrowing demand for Kamino's xStocks Market, its native APY approaches 0.
Although Byreal's trading fees are quite impressive, users need to manually set the LP price range, which relies heavily on the user's ability to judge price trends. A narrow range can maximize capital efficiency (high APY), but once the price deviates from the range, there will be no earnings at all.
In addition, Byreal occasionally provides incentive rewards (USDC). As long as your LP is operational (within the price range), you can passively share in stablecoin earnings.
2. Copy trading system increases additional earnings
As mentioned earlier, doing xStocks LP in Byreal has a certain level of difficulty. Therefore, Byreal provides LP copy trading features (Real Farmer).
For those who are not good at managing LPs, they only need to search for specific trading pairs from the copy trading system and choose their preferred strategy to copy. (Note: It is recommended to comprehensively refer to the operation time, APR, P&L, and other information to evaluate the effectiveness of the strategy)
If you are an experienced LP, you can earn a share of the profits from the copy traders after opening a position, but based on the current data design, I believe larger positions are more likely to be followed (possibly by Bots or Agents' automated copying).
The amazing thing is that both those who actively open positions and those who copy can obtain additional earnings.
3. Potential airdrop opportunities
Byreal has clearly indicated that it is preparing to launch a points system & leaderboard, which means you can simultaneously ambush airdrops from both xStocks and Byreal.
Byreal just launched the Perps trading feature (integrating with Hyperliquid), but the current main battlefield is still Spots, providing liquidity (LP) is likely to result in higher point multipliers (just like xStocks).
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Summary
Byreal is considered a very young new protocol, but backed by the resources of major exchanges, it has a certain endorsement in operational ability and capital support. I believe it is worth trying (after all, in a bear market, the competition is who can provide incentive earnings).
Returning to the part about xStocks, the rule design itself encourages providing liquidity to earn the highest point multipliers, with the difference being which protocol provides the liquidity.
In Byreal's xStocks LP, in addition to earning points from your position itself, half of the fees you earn will be in xStocks tokens, which can be withdrawn at any time. Once withdrawn, they can still earn holding points in your wallet.
If you are good at judging specific time period stock trends, I strongly recommend using Byreal.
On a side note, if you feel that holding altcoins in a bear market is too high-risk and painful, it might be better to hold RWA assets, at least the price will not drop to zero overnight.
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※xStocks xPoints 20% bonus placed in the comment area, welcome to use
※The above content does not constitute investment advice (NFA). Users should operate based on their own risk tolerance and participate in the investment market with caution, DYOR.