XOXNO Liquid Staking Review 2026: xEGLD and a Stellar Money Market

XOXNO Liquid Staking is the xEGLD product from the XOXNO protocol. xEGLD is a liquid staking token for EGLD on MultiversX. It is pegged to EGLD and grows with staking rewards, so holders earn yield without giving up a liquid token. It is integrated across the wider XOXNO protocol.

The XOXNO website now leads with something different: a non-custodial money market on Stellar. It offers lending and borrowing of USDC, XLM and other assets, plus a swap aggregator, a bridge from 15+ chains and an SDK for developers. Readers should treat the staking product and the Stellar lending product as parts of one project, with the latter getting most of the homepage focus.

The liquid staking listing shows about $792,000 in total value locked, and the project has a token, XOXNO. No audits are listed. The Stellar markets were also small at the time of writing, with about $198,000 supplied and $51,000 borrowed.

Staking EGLD normally locks it and pays rewards, and the stake cannot be moved freely. A liquid staking protocol pools stake and gives the depositor a receipt token. For XOXNO, that token is xEGLD, which is pegged to EGLD and grows with staking rewards.

Because xEGLD is a normal token, it can be held, moved or used in other parts of the XOXNO protocol while the underlying EGLD keeps earning. The material reviewed does not spell out the redemption process or any unstaking period.

The XOXNO homepage now focuses on a separate product: a money market on Stellar built on Soroban smart contracts. Users supply assets to earn interest paid by borrowers, and borrow against collateral. A Core hub holds the shared liquidity and isolated spokes accept other collateral. The homepage says borrowing up to 75% of XLM value is allowed and positions can be liquidated past 78%.

Fees for staking EGLD into xEGLD, such as any protocol cut of staking rewards or unstaking charges, are not published in the material reviewed. Check the XOXNO app and documentation for current terms before depositing.

On the Stellar lending side, rates are variable and set by market utilisation. At the time of writing the homepage showed supply APYs from 0% on AQUA to about 1.5% on USDC. Swap quotes are shown before fees, and network fees on MultiversX or Stellar also apply.

No audits are listed for the liquid staking product. The homepage states that contracts are open source and that parameter changes go through timelocked on-chain governance, and that lending positions are priced by RedStone oracles. These are reasonable design choices, but they do not replace independent audit reports, which the project does not publish in the material reviewed. Liquid staking tokens add smart-contract risk and the risk that xEGLD drifts from the value of EGLD.

The lending side carries liquidation risk if collateral falls, and the homepage warns that withdrawals depend on available liquidity. The team, legal entity and regulatory status are not stated. With TVL under $1 million, size is a further risk, so only commit what you can afford to lose.

This is for EGLD holders on MultiversX who want staking yield with a liquid receipt token, and for DeFi users curious about XOXNO's Stellar lending markets. It is better for experienced users who can read contract documentation and accept smart-contract risk than for beginners or anyone needing a low-risk savings product.