We truly believe in the #WSB movement & giving power back to the people, so we tokenized $GME. It's now live for trading on the Stellar blockchain and via the @dstoq App.
Given the recent events around #censorshiptrading we made a thread on why to #ExitWallStreet & #EnterDeFi
Given the recent events around #censorshiptrading we made a thread on why to #ExitWallStreet & #EnterDeFi
In our opinion the core of the recent problems with Robinhood results from centralization. Unjustified shutting down of retail investors simply does not exist when you hold your stocks in your own wallet and trade them on the blockchain.
Decentralized finance (#DeFi) empowers individuals, reduces the counter-party risk, adds transparency and cost efficiency and creates a truly level playing field - by cutting out all the middlemen.
Here are the reasons why -> time for a thread:
Here are the reasons why -> time for a thread:
The first problem to understand is centralized trading.
What are some examples:
- banks
- online app or brokers (such as Robinhood)
- crypto exchanges (they are not actually decentralized)
How can you find out? Easy, if you don't control your own assets then it's centralized.
What are some examples:
- banks
- online app or brokers (such as Robinhood)
- crypto exchanges (they are not actually decentralized)
How can you find out? Easy, if you don't control your own assets then it's centralized.
What is the problem with centralized trading?
When using a classical online or mobile broker you don’t actually trade. What you do is you place an order in which you commit to buy a stock for a certain price. This commitment is one-sided. Therein lies the problem.
When using a classical online or mobile broker you don’t actually trade. What you do is you place an order in which you commit to buy a stock for a certain price. This commitment is one-sided. Therein lies the problem.
The first disadvantage is that you committed to pay a price for a stock, the other party has not yet. As this is a one sided commitment this alone has a value. In a way you have created an option for the broker, which the broker can decide to take or not.
That option for the broker to take your trade is worth something if it can be sold. This is how most mobile and online brokers make money: by selling your one-sided offers.
What that means is that you don't always get the best price with centralized trading.
What that means is that you don't always get the best price with centralized trading.
Let’s use an example. Say Alice placed an offer to buy $GME for $300. The broker/market maker might see Bob’s offer to sell $GME for $290. They would take both sides of the deal and keep $10 for themselves.
In this case you didn't get the best price, which was $290.
In this case you didn't get the best price, which was $290.
Decentralized trading, on apps like @dstoq, which utilize a Decentralized Exchange (DEX) works totally differently.
On a DEX you place a trade you literally directly place it publicly ON the decentralized exchange itself. There is literally no one in the middle!
On a DEX you place a trade you literally directly place it publicly ON the decentralized exchange itself. There is literally no one in the middle!
How is this different?
Take the example from earlier, Alice places a trade on a DEX to buy $GME for $300, Bob places a trade to sell at $290. Matching would happen and Alice would pay $290!
There is no broker stealing the $10 difference! The saving goes directly to Alice.
Take the example from earlier, Alice places a trade on a DEX to buy $GME for $300, Bob places a trade to sell at $290. Matching would happen and Alice would pay $290!
There is no broker stealing the $10 difference! The saving goes directly to Alice.
The power of #DeFi is this decentralization and cutting out middlemen!
It gives power back to the people, by enabling you to transact directly with each other! Peer-to-peer!
There is no middleman with its own agenda influencing what you as a user are allowed to do!
It gives power back to the people, by enabling you to transact directly with each other! Peer-to-peer!
There is no middleman with its own agenda influencing what you as a user are allowed to do!
Two key advantages of #DeFi apps like @dstoq, which #WSBetters should care about.
1) in normal times you actually get the best price with no hidden fees
2) in abnormal times you don’t depend on any second parties deciding what you can do. You control your assets!
1) in normal times you actually get the best price with no hidden fees
2) in abnormal times you don’t depend on any second parties deciding what you can do. You control your assets!
The blockchain does not censor you; is never down; and doesn’t have its own agenda!
Unlike Wallet Street, #DeFi is code, and in code we trust!
#ExitWallStreet
#EnterDeFi
Unlike Wallet Street, #DeFi is code, and in code we trust!
#ExitWallStreet
#EnterDeFi
You might ask yourself, how does this actually work in practice? That's where @dstoq comes in.
In order to trade tokenized stocks like $GME, just 5 easy steps.
1) Download app - app.dstoq.com/download
2) Create account
3) Fund account (crypto accepted)
4) KYC
5) Trade!
In order to trade tokenized stocks like $GME, just 5 easy steps.
1) Download app - app.dstoq.com/download
2) Create account
3) Fund account (crypto accepted)
4) KYC
5) Trade!
We’re available in more than 100 countries - dstoq.com/available-coun… and aim to add more as soon as possible!
Any other questions - feel free to ask or email support@dstoq.com
Any other questions - feel free to ask or email support@dstoq.com
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