The newly introduced Wallstreetbets Defi App aims to take over the traditional financial markets - Defi Bitcoin News

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The newly introduced Wallstreetbets Defi app aims to take over the traditional financial markets

in early 2021 led to a trend triggered by the makers of the Reddit Forum R/Wallstreetbets that the whole world concentrated on retailers on the stock exchange, which bought so-called dead stocks such as AMC, GME and others. The hype behind the WallstreetBets group has fizzled out in the past few months, but a group that claims to represent the Wallstreetbets community has launched a decentralized financial project (Defi) called WSBDAPP.com. The Wallstreetbets application offers dealers the opportunity to exchange synthetic stocks with blockchain technology.

Wallstreetbets and Defi: "Synthetic Stonks"

A small team that claims to be connected to the Creator of the Reddit Forum R/Wallstreetbet has started a defi platform or decentralized use (DAPP). The platform is called wsbdapp.com and the protocol enables users similar to today.

The tokens are blockchain-based tokens that represent listed stocks and are also referred to as synthetics. In fact, 100 tokens were removed from the list at the end of July and many were synthetic goods that were bound to raw materials and stocks. The crypto community took the synthetic securities off the market from uniswap because they could possibly be regarded by the US supervisory authorities as non-registered securities.

On August 31, the Twitter account @wallstreetbets tweeted a video about the new platform and behind 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, who say: "Defi’ing Wall Street with Blockchain Handelable 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 blockchain for traditional investors can be realized.

wsbdapps native token wsb

The wsbdapp.com has its own native token called wsb can be used for liquidity pools and staking, claims the website. At the time of writing, WSB exchanges the owner for $ 0.03 per unit. In the last 24 hours WSB worth 1,078,872 USD have been exchanged and there is 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000. WSB in circulation , according to the smart contract of the tokens.

This means that the aggregated WSB market assessment on Saturday, September 4, 2021, is just over $ 30 million. Interestingly, the WSB token has developed well and has increased by 6.3% in the last 24 hours and 33.2% in the week.

Two-week statistics show that WSB has increased 48.9 %, and one month indicates show that WSB has increased by 58 % to date. The Wallstreetbets Community, which has created the new DAPP, notes that the work to which they concentrate will not be easy, but the community focuses on a common goal.

"to conquer the traditional financial markets is not a small hill - it is a huge mountain with jungles, wild animals and overwhelming climate," explains the website. "The meme 'monkey together', which we love in the [WSBDAPP] community stands for more than strength-it is a call to the weapons. Our community vigorously leads to a common goal ... Mass implementation of distributed investment governance-with the [WSBDAPP] at its core, regulated by the coordination of the community with the WSB token."

What do you think of the WSBDAPP? Let us know your opinion on this topic in the comments below.

Photo records : Shutterstock, Pixabay, Wiki Commons, WSBDAPP