Trading stocks against BONER is the latest trend for DeFi degens
Why would anyone want to trade a healthcare stock for a memecoin like BONER? Why wouldn’t they, ask the degens on Robinhood Chain who are building a strange new corner of DeFi.
Why would anyone want to trade a healthcare stock for a memecoin like BONER? Why wouldn’t they, ask the degens on Robinhood Chain who are building a strange new corner of DeFi.
The HIMS token is designed to track shares of the teleheath company Hims & Hers, which trade on the New York Stock Exchange (NYSE). On Robinhood Chain, traders can buy and sell the tokenized stock alongside other crypto assets like memecoins.
The deliberately ridiculous memecoin was paired with HIMS in a liquidity pool, where traders could swap between the two tokens.
Looking under the hood, there’s nothing particularly revolutionary about the plumbing. The markets are built using automated market makers (AMMs), a type of DEX mechanism that uses liquidity pools and algorithms to set prices and which let traders swap one token for another without a traditional order book or a matching buyer on the other side.