LobsterDAO 🦞

01 Jul 2025 21:21

Ivan step it up, lobs venues never look like this

LobsterDAO 🦞

01 Jul 2025 18:51

User on BitcoinTalk (Boomer OG forum) redeems over $10m BTC from a solid gold physical Casascius Bitcoin bar that he bought back in 2012 for $500. He leaked his private key on the forum and another anon scooped up $40k BCH immediately. - bitcointalk.org
🏷️ $BTC, Bitcoin, Gold

LobsterDAO 🦞

01 Jul 2025 14:52

Hmm I was talking more about the revenue on the issuer side. Stablecoin still gets to earn yield on the money in their custody so it’s not totally dependent on issuance and redemption volume for earning. No such option for stocks

LobsterDAO 🦞

01 Jul 2025 13:16

You could argue the same for most stablecoins pre-2024

LobsterDAO 🦞

01 Jul 2025 13:06

Issuance + redemption fee (backed takes 50bp for each)

LobsterDAO 🦞

01 Jul 2025 13:00

What’s the current business model for issuers like Backed?

LobsterDAO 🦞

01 Jul 2025 11:43

The good old bulletin board system, but in an encrypted and decentralized version (link).

LobsterDAO 🦞

01 Jul 2025 11:29

Can you dm me the link too?

LobsterDAO 🦞

01 Jul 2025 09:57

Already some protocols offering high lev for stocks , exciting times !

LobsterDAO 🦞

01 Jul 2025 09:54

Yeah that was my initial assumption too. Stocks weren't degen enough for crypto natives to think about as an opportunity, neither was it safe enough for people to park money in. But I guess, the lack of regulatory clarity might be a better reason tbh.

LobsterDAO 🦞

01 Jul 2025 09:54

We'll see where they draw the line this time

LobsterDAO 🦞

01 Jul 2025 09:48

Agreed. This is stocks szn. We're not afraid of tokenized stocks sending us straight to jail.

LobsterDAO 🦞

01 Jul 2025 09:47

If the SEC is breathing in your neck you are a bit more carefull

LobsterDAO 🦞

01 Jul 2025 09:46

Mostly because also LP's were not willing to take the regulatory risk

LobsterDAO 🦞

01 Jul 2025 09:43

Oh I completely forgot that Mirror Protocol was tied to Luna. I guess that poisoned the idea a fair bit for a lot of crypto native people.

LobsterDAO 🦞

01 Jul 2025 21:21

https://x.com/micheledaliessi/status/1940074988070941184?s=46&t=dZ0Is5ZLsMuWuMCkTmZ9HQ

LobsterDAO 🦞

01 Jul 2025 14:55

Sure but it’s not like you can bypass existing AML or securities regulations just by having the stocks onchain. Widespread geographical access will be limited to the custody model, which will continue to suffer from the same liquidity issues as they do now.

LobsterDAO 🦞

01 Jul 2025 13:29

Emerging market folks like me will like to use the product because I used to trade US stocks back in 2020 from my bro's robinhood account who is based in US.

But, my preference was mainly to trade options on big stocks or SPY. Never held them in spot cause didn't have that much account balance. Used to find new uprising stocks in solar/EV category and sometimes penny stock or others and held them in spot and sometimes options also.

So, what you need to see is which tokenized stocks are having high trading volume and which ones not because crypto degen crowd have low risk aversion

Also, Stocks and cryptos are very different markets. When I shifted to crypto then I just didn't have time to observe US stocks because ultimately placing an option bet on a stock or buying it in spot do requires some research/reading balance sheets/finding alphas and going to Stocktwits chat rooms to see what other ppl are thinking on this. It's a good amount of research.

LobsterDAO 🦞

01 Jul 2025 13:12

Hmm yeah I guess that limits it a lot. People who would pass the legal requirement to be able to redeem most probably also has better means of accessing the US market and since you can’t really utilize the onchain stocks in any significant way, there is no reason to jump through the onchain hoops for a centralized product

LobsterDAO 🦞

01 Jul 2025 13:02

@micobz welcome buddy, maybe you can add some value in here

LobsterDAO 🦞

01 Jul 2025 11:59

The reason is supply not demand. With stables you have the collateral in short term bonds (and while interest rate where 0 the graph looked the same) and with stocks the business model issuing the tokens is way harder.

LobsterDAO 🦞

01 Jul 2025 11:34

A bit late to reply, but Beam does something like that with the messenger embedded in their wallet. Although the messages are not stored onchain, to avoid bloat. They are encrypted with the destination pubkey and then published for a given period of time (e.g. 12 hours) into a Secure BBS (of which each wallet is a node).

That system was initially created to allow the wallets to co-sign the so-called interactive transactions of the MimbleWimble protocol, but it was then extended with a messenger UI to be usable for any kind of message.

LobsterDAO 🦞

01 Jul 2025 10:11

We need a lot of liquidity for stocks first , you wanna be able to buy big amounts of apple etc without moving the price . I dont think it was attractive for people / mms to lp for stocks due to regulations .

Also various reasons why people in crypto might not be too interested ( no 24/7 trading , smaller returns , custody etc )

LobsterDAO 🦞

01 Jul 2025 09:55

Could be, yet there were stocks on a bunch of on chain perp DEXes

LobsterDAO 🦞

01 Jul 2025 09:54

100x leverage CRCL maybe

LobsterDAO 🦞

01 Jul 2025 09:54

Well SEC is chill now, so time to test some boundaries 😂

LobsterDAO 🦞

01 Jul 2025 09:47

Stables have a shit load of uses, even for normies in failed states.

Stonks are casino, crypto used to have the best casino in town.

LobsterDAO 🦞

01 Jul 2025 09:46

But even when Anchor was printing stable returns on Terra, no one was aping massive liquidity unto Mirror stocks. It was interesting, but not serving the geographic need for investment in the same way that Anchor served as a high yield savings account. The tech worked, but the geography wasn't the problem? I think if Mirror had converted stocks into yield bearing portfolios, the geography would have maybe seen it as a compelling savings account. Just speculating tho.

LobsterDAO 🦞

01 Jul 2025 09:46

Exactly and Synthetix also had issues getting people to provide liquidity throughout their roll out

LobsterDAO 🦞

01 Jul 2025 09:41

What's USDT, but an IOU based on dollars held in a bank?