CRYPTO
What is new in the world of crypto? The tokenization arms race has officially started. Robinhood just kicked off tokenization of stock directly onchain. Robinhood is beating out Coinbase to the point. Coinbase and Kraken have both shown interest in selling tokenized stock on their respective L1 and L2 (Ink and Base).
Why is this exciting for memecoins?
LIQUIDITY LIQUIDITY LIQUIDITY
The stock market holds so much liquidity. The world of tomorrow will let you trade stocks for memecoins.
"But isn't the economy shit?", "Didn't you just rant about the job market?" Yes. But this is bullish. Risk-on and risk-off assets are both up regardless of what the "real" economy does. Back to the OG thesis: money creation is inflation. No market is real anymore and every instrument is an abstraction of inflation. Inflation is an increase in the money supply—it is not rising prices (don’t be gaslit by central bankers pushing Keynesian psyops). This is a slight distinction that hides a core property that fiat currency possesses. It is designed to accelerate towards debt spirals of devalued currency. It enables the establishment to leverage cheap debt to amass large amounts of real wealth.
On a smaller scale, this is why the current economic climate resembles Weimar more than the Great Depression. Central bankers and talks about interest rates are a mute point. There is a systemic counterparty risk that needs the cheap debt or else the rehypothecation house of cards fails.
Interest rates don’t control the rate of money creation, they just price out regular people from being able to benefit from inflation. It also helps shake out weak hands who are overleveraged. Those firesales then are bought up by big players at a discount.
Eventually the rates are lowered and there is a boom as cheap debt enables everyone from retail to institutional to gamble on someone else’s dime.
WELL HOW DOES THAT HELP ME GET RICH ANON?
The stock market is a huge amount of liquidity just trapped behind large retirement accounts. Where normies park their money, unable to touch it for the next 30 years while some mega financial firm is able to charge a management fee to basically dollar-cost average into stocks and bonds (but stocks are the one that matters).
Tokenized stocks directly tradable on L2s means that there is now a new way to access that locked liquidity and it can go directly into any crypto project with high velocity.
How this needs to play out:
I'm barely holding my head above water. I can't single-handedly fund the full amount we need for liquidity
in all the chains.
So the plan is to create the bridge for Base and Ink (literally the same code but with a different address)
and then bridge the first small amount to those chains.
(I'm working on getting some early info on the Robinhood chain developer docs).
I've got some savings that I can pull to deploy some chance game smart contracts on those chains. I will do this to attract more users to the token, but I would need more people to step up to provide liquidity once the users start rolling in.
I can scope out the cost of infra for running the mining pool. But I really will need to make sure we cover that since it will need to be more robust than what we have been running so far.
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