X-Lend

X-Lend: Cross-Chain Lending for Tokenized Stock Options

Robinhood has announced the launch of its own blockchain and its plan to tokenize stock put options as real-world assets (RWAs). This marks a major turning point in the intersection of traditional finance and DeFi. X-Lend is a protocol built to leverage this shift. It enables users to borrow liquidity on any blockchain by depositing tokenized puts as collateral, without ever risking liquidation.

X-Lend is a decentralized, cross-chain lending protocol that allows users to access liquidity instantly while keeping their market position. Users deposit tokenized puts, select the amount and type of tokens they want to borrow, and choose the blockchain on which they want to receive them. If the loan is repaid before maturity, users recover their tokenized puts. If it is not repaid, the options are automatically sold by the protocol. There is no liquidation risk at any point in the process.

The protocol is designed to be simple, capital-efficient, and liquidation-free. Users know from the start that they only need to repay their loan by its term. The system does not rely on price oracles or volatile collateral ratios. The only outcome that matters is repayment or expiration.

X-Lend introduces a new model for lending using RWAs, especially tokenized options, and brings real utility to assets that were previously static. It is also fully cross-chain: users can deposit on one chain and borrow on another, using modern messaging protocols and liquidity bridges. This flexibility opens the door to new DeFi strategies and broader use cases.

For example, a user holds tokenized Tesla put options on Robinhood Chain. They need liquidity on Ethereum. With X-Lend, they deposit their TSLA puts, borrow USDC on Ethereum, and either repay the loan and reclaim their options, or let X-Lend automatically close the position by selling the puts. There is no need to monitor prices or collateral values, and no risk of forced liquidation.

X-Lend is built for the future of decentralized finance. It bridges tokenized financial products with global liquidity. It offers a new way to bet on markets, move capital freely across chains, and keep exposure to valuable positions without compromise.

X-Lend is where tokenized options meet cross-chain liquidity. Simple terms. No liquidations. Full control.

The project is built around four main smart contracts. Two of them are ERC-20 token contracts deployed respectively on Sepolia Ethereum and Sepolia Mantle, used to simulate cross-chain value flows. The third contract, deployed on Ethereum, allows users to deposit tokenized put options and define the loan terms. The fourth contract, deployed on Mantle, handles the issuance and repayment of loans.

The connection between Ethereum and Mantle is enabled through Chainlink’s CCIP (Cross-Chain Interoperability Protocol), which securely transmits loan requests and repayment messages between chains. Every transfer of value is pegged to its dollar equivalent using Chainlink Price Feeds, ensuring consistency and transparency in all operations.

When a loan is repaid on Mantle, the system automatically returns the user’s tokenized puts on Ethereum through Chainlink Automation, triggered upon confirmation of the repayment message. These are fixed-term loans: if the loan is not repaid before maturity, the underlying put option becomes protocol-owned and is automatically sold on behalf of the protocol.