KEY TAKEAWAYS
- Kraken has launched trading for the XL1 token, enhancing the XYO Layer One project’s reach.
- XL1 serves as a utility token for XYO Layer One, facilitating transactions, smart contracts, and validator rewards.
- Trading via Kraken’s App and Instant Buy will be available once liquidity conditions are met, with geographic restrictions possibly applying.
Kraken has announced that the XL1 token is now available for trading on its platform. Trading for XL1 went live on September 16, 2025. This addition marks a significant step for the XYO Layer One project, which aims to bring verifiable information on-chain through its scalable data blockchain.
To trade XL1, users can navigate to the Funding section of their Kraken account, select the desired asset, and proceed with the deposit. It is important for users to ensure that their tokens are deposited into networks supported by Kraken, as deposits made using unsupported networks may result in loss of funds.
Understanding the XL1 Token
XL1 serves as the utility token for XYO Layer One, a blockchain designed to handle scalable data. The token is utilized for paying gas and transaction fees, with a portion of these fees being burned. Additionally, XL1 powers smart contracts and decentralized applications (dApps), facilitates bridging to other chains, and supports validator rewards, staking, and step-based incentives.
Part of a dual-token system, XL1 operates the blockchain while the XYO token powers a contributor network of over 10 million DePIN nodes. These nodes provide trusted data for applications in artificial intelligence, real-world assets (RWA), geospatial intelligence, and location-based gaming.
Trading Conditions and Future Listings
Kraken has noted that trading via the Kraken App and Instant Buy will become available once liquidity conditions are met. This means that a sufficient number of buyers and sellers must enter the market for orders to be efficiently matched. Additionally, geographic restrictions may apply to certain users.
Kraken has a policy of not revealing details about future asset listings until shortly before their launch. All available tokens on Kraken can be found on their platform, and future listings will be announced on their Listings Roadmap and social media profiles. More information about the XL1 listing can be found here.
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