The newly launched Wallstreetbets Defi App goals to take over the normal monetary markets

In early 2021, a trend sparked by the creators of the Reddit forum r / wallstreetbets caused the whole world to focus on retailers on the stock exchange buying so-called dead stocks like AMC, GME and others. The hype behind the Wallstreetbets group has fizzled out in the last few months, but a group claiming to represent the Wallstreetbets community has started a decentralized finance project (Defi) called wsbdapp.com. The Wallstreetbets application offers traders the ability to exchange synthetic stocks using blockchain technology.

Wallstreetbets and Defi: “Synthetic Stonks”

A small team that claims to be affiliated with the creator of the Reddit forum r / wallstreetbets has launched a defi platform or decentralized application (dapp). The platform is called wsbdapp.com and the protocol allows users to exchange tokens similar to popular decentralized exchange apps (Dex) that are popular today.

The tokens are blockchain-based tokens that represent listed stocks and are also known as synthetic. In fact, at the end of July, Uniswap removed 100 tokens from the list, and many of them were synthetic goods tied to commodities and stocks. The crypto community assumed that Uniswap delisted the synthetics because they could potentially be considered unregistered securities by US regulators.

https://t.co/TVRs3X9sRo pic.twitter.com/t4d3c2HXBz

– WallStreetBets (@wallstreetbets) August 31, 2021

On August 31, the Twitter account @wallstreetbets tweeted a video about the new platform and left a link to wsbdapp.com. According to the video, the founder of the Wallstreetbets community, Jaime Rogozinski, is behind the project.

When visiting the website, people are greeted by neon-lit words that say, “Defi’ing Wall Street with blockchain tradable assets”. The Defi platform says it is “always open” and the Dapp offers “unlimited trade, 24/7, 365 days a year”. The web portal wsbdapp.com adds:

[Wsbdapp Gives] the advantages of the blockchain can be realized for traditional investors.

Wsbdapps Native Token WSB

The wsbdapp.com has its own native token called WSB and the token can be used for liquidity pools and staking, the website claims. At the time of writing, WSB is trading owners for $ 0.03 per unit. In the past 24 hours, WSBs worth 1,078,872 US dollars have been exchanged and, according to the token’s smart contract, 1,000,000,000 WSBs are in circulation.

This means that the WSB aggregate market valuation as of Saturday, September 4, 2021 is just over $ 30 million. Interestingly, the WSB token has done well, increasing 6.3% over the past 24 hours and 33.2% over the week.

Two-week statistics show WSB is up 48.9% and one-month metrics show WSB is up 58% to date. The Wallstreetbets community who created the new Dapp notes that the work they focus on won’t be easy, but the community is focused on a common goal.

“Conquering the traditional financial markets is not a small hill – it is a huge mountain with jungles, wild animals and an oppressive climate,” explains the website. “The ‘monkeys together strong’ meme that we love so much in the [wsbdapp] Community is more than strength in numbers – it is a call to arms. Our community is vigorously moving towards a common goal … mass adoption of distributed investment governance – with the [wsbdapp] in the core, regulated by the coordination of the community with the WSB token. “

What do you think of the wsbdapp? Let us know what you think on this matter in the comments below.

Tags in this story

AMC, blockchain-based stocks, DAPP, DeFi, Defi-App, financial markets, GameStop, GME, Jaime Rogozinski, official Twitter account, r / wallstreetbets, Reddit forum, stocks, stonks, synthetics, traditional financial markets, wallstreetbets, wsbdapp

Photo credit: Shutterstock, Pixabay, Wiki Commons, wsbdapp

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164
Gary Gensler Says Bitcoin is Actual Bitcoin

Gary Gensler Says Bitcoin is Actual

Gary Gensler, the new chairman of the Securities and Exchange Commission (SEC), confirmed the...

By wpadminsonic164
Plan B’s stock-to-flow bitcoin pricing mannequin is forecasting $ 100,000 by Christmas, S2F creators are discussing the time mannequin Bitcoin

Plan B’s stock-to-flow bitcoin pricing mannequin is forecasting $ 100,000 by Christmas, S2F creators are discussing the time mannequin

The pseudo-anonymous Bitcoin analyst named Plan B gave its 704,000 Twitter followers an update...

By wpadminsonic164
How do NFTs evaluate to Bitcoin? Bitcoin

How do NFTs evaluate to Bitcoin?

Check out this episode on YouTubeListen to this episode:This episode of "Bitcoin Bottom Line"...

By wpadminsonic164
Remembering Bitcoin Pioneer Hal Finney (Could 4, 1956 – August 28, 2014) Bitcoin

Remembering Bitcoin Pioneer Hal Finney (Could 4, 1956 – August 28, 2014)

Seven years ago today, legendary computer programmer and recipient of the very first Bitcoin...

By wpadminsonic164
Worldline, Bitcoin Suisse accomplice, to allow retailers to simply accept Bitcoin in Switzerland Bitcoin

Worldline, Bitcoin Suisse accomplice, to allow retailers to simply accept Bitcoin in Switzerland

The European payment and transaction service provider Worldline has teamed up with Bitcoin Suisse,...

By wpadminsonic164
Bitcoin worth breaks 50,000, bitcoiners put together for brand spanking new all-time highs Bitcoin

Bitcoin worth breaks 50,000, bitcoiners put together for brand spanking new all-time highs

At around midnight on Sunday, Bitcoin price broke $ 50,000, the highest price since...

By wpadminsonic164
Discovering Monetary Freedom In Afghanistan Bitcoin

Discovering Monetary Freedom In Afghanistan

Roya Mahboob — the first female Afghan tech CEO, one of TIME’s most influential...

By wpadminsonic164

Latest Posts

Uncategorized

Noboni.com: Best Girl’s Online Shopping in bd

Noboni.com is the best Bd online shopping for girls. We 🏷️ offer the latest...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164