Umm, Kobo doesn't run an X server.
You won't actually be able to run X without some extra help, because eInk (c.f., what was done by
@schuhumi on Kindle w/ Alpine chroots).
Another rather large caveat: On Kobo, input is another extra pain point, as that's much more standard on Kindle than on Kobo, so don't expect stuff to automagically behave without some more work.
(Also, an X server has nothing to do with a framebuffer-based terminal emulator, so I'm utterly confused about what *exactly* you're asking for).