Introducing StonkBase $SBF
StonkBase is a totally decentralized Ethereum protocol for creating & trading synthetic stocks. The creators and maintainers of StonkBase are a globally distributed anonymous Decentralized Autonomous Organization.
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 $BB $NOK $SLV $CBSE $TSLA.
The DVM will also accept any proposed price stocks feed from sources like trading view or IEX, which means anyone can generate a synth from a stock price feed.
This system is deployed and the contracts are listed for community review: https://github.com/stonkbase/stonkbase-contracts