StonkBase totally decentralized Ethereum protocol for creating and trading synthetic stocks. StonkBase is now offering rewards the StonkBase $SBF Voting Token for Yield Farming synthetic Tesla (TSLA) stock. You can currently earn up to 98% APY.
Congrats now you are the owner of TSLA-JUL21 synthetic TSLA stock!
The protocol is based on UMA, whose censorship resistant DVM “oracle” system is most suited a group of people to agree on the price of a stock (or anything else), without relying on centralized API.
The synths are similar to cash settled futures, which means they will have an expiration date at which they will settle for the underlying collateral.
This type of synth has proven to hold the peg very well due to the ease of arbitrage.
To make arbitrage easier, we are launching with stonk synths that are trading in the crypto ecosystem already on FTX: $GME $AMC…