xPrime

xPrime is an onchain prime brokerage for tokenized equities.

It gives users a unified interface to earn, borrow, trade, hedge, spend, and bridge against xStocks. Users specify their financial intent, and xPrime maps that intent to the right strategy or execution flow.

Repo structure

app/        Next.js app
contracts/  Foundry contracts and keeper

What xPrime is

xPrime is a prime brokerage rebuilt for the internet. It helps users unlock yield, leverage, and liquidity from their stock portfolio without splitting activity across disconnected apps and venues.

The product is organized around four core flows.

Earn

xPrime packages structured strategies into simple vault and execution flows.

That includes:

tokenized leveraged ETFs
USD carry strategy
basis trade
covered calls
wheel strategy

In this repo, the implemented vault contracts are the leveraged ETF vault and the USD carry vault.

Borrow

xPrime lets users unlock liquidity without selling their xStocks.

That includes:

floating rate borrowing against equity collateral
fixed term borrowing using collar structures designed for downside protection and no liquidation style borrowing

Trade

xPrime supports:

perpetual trading on tokenized equities
spot xStocks trading across Ink and Ethereum
event driven options trading around earnings through straddle style flows, with broader options flows coming soon via Sts Digital options RFQ
hedging flows built on the same positions

Spend

xPrime includes a digital card flow so users can spend against the value of their holdings.

How xPrime works

xPrime acts as the discovery, routing, and execution layer for onchain equities.

Users start with a goal, market view, and risk tolerance. xPrime then recommends the right strategy and routes execution across the protocols used by that flow.

In the current codebase:

Hyperliquid powers perp market data and trading in the terminal
CoW Swap powers spot xStocks execution on Ink and Ethereum
LiFi powers bridging flows
Tydro powers the leveraged ETF vault on Ink Sepolia
Morpho and Flowdesk power the carry vault on Ethereum
Options coming soon via Sts Digital options RFQ

Contracts in this repo

LeveragedVault.sol is an ERC4626 vault on Ink Sepolia for leveraged SPYx exposure. It uses flash loans and Tydro to create leveraged exposure and a keeper to rebalance back to target leverage.

Vault address: 0x47d144a13bEd591688DeA00890001448F3f96196

CarryVault.sol is an ERC4626 vault on Ethereum for the SPYx aUSD carry strategy. It collateralizes SPYx on Morpho, borrows aUSD, and deposits that aUSD into a Flowdesk vault.

Vault address: 0xfbddeafAdcC77209870b7d70782714AEB40c39Da

contracts/keeper contains the offchain rebalancer for the leveraged vault.

Run the app

cd app
npm install
npm run dev

Open http://localhost:3000.

Test contracts

cd contracts
forge build
forge test

Deploy contracts

Create contracts/.env from contracts/.env.example.

For Ink Sepolia deployments, set:

INK_SEPOLIA_RPC_URL=...
DEPLOYER_PRIVATE_KEY=...

Deploy the leveraged vault:

cd contracts
forge script script/Deploy.s.sol:Deploy --rpc-url $INK_SEPOLIA_RPC_URL --broadcast

Deploy the carry vault:

cd contracts
forge script script/DeployCarryVault.s.sol:DeployCarryVault --rpc-url $ETH_RPC_URL --broadcast

Run the keeper

Create contracts/keeper/.env from contracts/keeper/.env.example, then run:

cd contracts/keeper
npm install
npm run start

dzmbs/xprime

README