Read this article on bsc.news Xash, a Solana-based application that rewards people with tokenized gold for using stablecoins, has launched at Solana Breakpoint 2026 in London. The platform is
Xash, a Solana-based application that rewards people with tokenized gold for using stablecoins, has launched at Solana Breakpoint 2026 in London. The platform is designed to encourage people to keep lending, trading and providing liquidity on decentralised finance (DeFi) platforms after short-term reward campaigns end.
The company announced its public launch on November 12. It allows users to earn gold rewards when they carry out stablecoin activities on established Solana DeFi platforms. Xash says the model is intended to give users a reason to remain active while helping DeFi platforms and stablecoin issuers build lasting usage.
The launch comes as the market for tokenized gold continues to grow. Figures cited from the World Gold Council show that the market has expanded fivefold since late 2024, reaching about $6 billion. Trading volumes passed $90 billion in the first quarter of 2026.
Xash was co-founded by Kevin Huynh, who serves as chief executive, alongside Vinny Lingham, co-founder of Civic and Gyft and a former general partner at Multicoin Capital. The other co-founders are Alen Ribic, co-founder of SweepSouth, and Llew Claasen, a former executive director of the Bitcoin Foundation.
Huynh said the main issue facing stablecoins is how people use them after joining a platform.
“Stablecoins don’t have a supply problem. They have a usage problem. Incentive campaigns rent users for a few weeks, then they’re gone,” he said.
Xash aims to address that problem by paying rewards in tokenized gold instead of relying on temporary token campaigns. The company says the approach is intended to appeal to people who want to build their gold holdings over time. It also seeks to give DeFi platforms a more consistent source of activity and help stablecoin issuers increase the use of their tokens.
The application brings several DeFi opportunities into one place. It reviews available options each day and shows users the potential gold rewards, related costs and estimated returns over 30 days. Users can compare the options and choose where to put their stablecoins through the app.
Users keep control of their funds and approve transactions with their own wallets. Xash says its trades do not use borrowed money or rely on bets about whether an asset's price will rise or fall. However, users can still lose funds if a DeFi platform fails or market conditions change sharply. The same risks apply to its Kamino liquidity vault.
The company is also adding two features with the launch. Users will be able to send accumulated tokenized gold rewards directly to their own wallets. A curated liquidity vault on Kamino will let users deposit stablecoins in one transaction instead of handling each transaction separately.
Xash will demonstrate the application at Solana Breakpoint 2026, which runs from November 15 to 17 at Olympia London. The company will be at booth WH-046 in the West Hall, Level 1.
