Dive Into DeFi: Amazon, Tesla, Google, and Netflix Have Entered The Chat
Earlier this week, PancakeSwap announced mAsset trading and farms in collaboration with Mirror Protocol. This will allow users to trade synthetic Tesla, Amazon, Netflix, and Google shares.
Unlike most of my Dive Into DeFi articles, this one will include a little news.
Synthetic stocks are coming to BSC.
To me, this has been a long-awaited event; one that I am particularly excited about. Before I explain my excitement (It goes beyond the incredibly convenient proposition of trading stocks with the instant settlement, 24 hours a day, 7 days a week), I will first cover the news.
Earlier this week, PancakeSwap announced mAsset trading and farms in collaboration with Mirror Protocol. This will allow users to trade synthetic Tesla, Amazon, Netflix, and Google shares. The farms will be paired with UST. For more details, the announcement can be found here. I suggest reading the announcement in its entirety to get all the details.
Synthetic Stock Market Never Closes
This is exciting. The news broke while we were having a BSC.News call, and I’m pretty sure I was mentally absent for the rest of the meeting. I couldn’t stop thinking about the possibilities that are likely on the way. We are finally seeing something real and tangible. Okay, it’s not real stock, but a synthetic version of the real thing, creating an entirely new marketplace that operates open and freely, around the clock. I believe that instant settlement of assets 24 hours per day will be an incredibly powerful driver to the expansion of DeFi.
DeFi With Stocks
The synthetic stocks being introduced by Mirror won’t be limited to UST LP pools on PancakeSwap. They are quite literally limited to nothing.
Want to lend Amazon stock to earn interest? I bet you’ll be able to do that.
Want to borrow Tesla stock against your Bitcoin collateral? Seems a bit degen, but it’ll probably be possible.
Trying to earn trading fees from LP stock positions and compound with ease? Well, that starts this week.
Will you be able to compound your synthetic stock positions in yield optimizers? I don’t see why not.
First, users will be able to farm Cake right out of the gate this week using stock/ust LP pairs. Just to say it out loud, again, we’ll be able to earn cake with Amazon liquidity. Tesla liquidity. Google liquidity. Netflix liquidity. This is the point of everything that has been built up to today.
I’m not sure I can put enough bold font in this week’s article to express the excitement I’m feeling from this DeFi innovation. I think what is being released will just be the beginning, and new opportunities and assets will become available quickly. I plan to watch the synthetic stock sector closely and take advantage of the new yield farming possibilities to come.
Cheers to Mirror Protocol and PancakeSwap for bringing more innovation to BSC.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
A New Solana Memecoin With $19 Million: What is Milady Wif Hat?
Named after the renowned Solana meme coin Dogwifhat (WIF), Milady Wif Hat swiftly reached its maximum funding cap of 88,888 Solana (SOL) within hours of its launch.
Introduction: Milady Wif Hat
Milady Wif Hat, a new meme coin on the Solana network, has made waves by swiftly gathering $19 million in funding during its presale in just two hours. Named after the well-known Solana meme coin Dogwifhat (WIF), Milady Wif Hat garnered a maximum funding of 88,888 Solana (SOL).
🎩 Milady Wif Hat presale is now live! 🚀
— Milady (@miladymemecoin) March 18, 2024
Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now 💗
Wallet address : 4K9tmyjpdu9ogw95JRTZkPkNppw8v1gnuGHBaYir96tt pic.twitter.com/1VdUjilB1E
With Milady Wif Hat, investors could participate with a minimum investment of 1 SOL, capped at 88,888 SOL. The presale, set for a 24-hour duration, saw an overwhelming response, becoming oversubscribed within hours of its launch.
📢 Closure of Milady wif hat presales! 🚀
— Milady (@miladymemecoin) March 18, 2024
Milady Wif Hat presale has soared to its limit of 88,888 SOL and is now closed. 🎉
Any additional Solana raised will have 100% of their funds returned.
Thank you all for the incredible support! 🙌 💖 pic.twitter.com/zEzDGEVlQy
Following the closure of the presale, additional contributions were reportedly returned.
Milady Origins
Milady memecoin's journey began as a decentralized meme token ($LADYS) on the Binance Smart Chain, debuting in 2022. Inspired by the internet meme culture surrounding "Milady" images, which exude grace and elegance, the project aims to infuse humor and lightheartedness into finance.
With a fixed total supply of 1 billion tokens, LADYS employs a deflationary mechanism, burning 10% of the initial supply to enhance scarcity. Furthermore, the tokenomics incorporate a 10% tax on transactions, with 5% redistributed to holders as rewards and the remaining 5% allocated to the liquidity pool, incentivizing long-term holding strategies.
Milady Wif Hat memecoin is the newest addition to the Milady ecosystem.
Challenges Along the Way
Despite its promising trajectory, Milady has faced challenges on its rise. Charlotte Fang, the founder of NFT projects Milady and Remilia, recently confirmed a security breach of treasury addresses, resulting in significant financial losses.
The transfer of ownership of the treasury to the drainer occurred before the suspicious transactions, according to PeckShield experts. Prior to this, in September 2023, Fang reported that the Milady NFT ecosystem developers had stolen about $1 million and hacked its social media accounts.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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