This also highlights the biggest problem: what are currently called tokenized or exchange-listed stocks are completely different from traditional stocks. They are just memes wearing stock tickers, and the gap is significant in terms of liquidity, trading volume, security, and real-time performance. At the very least, they don't share the same liquidity pool. https://t.co/uOCWyu8Z3J
McDonald's tokenized stock (xStock) Live Price data
McDonald's tokenized stock (xStock) MCDX Price History USD
Own MCDX Now
Buy and sell MCDX easily and securely on BitMart.McDonald's tokenized stock (xStock) X Insight
McDonald's on Gate: $30
McDonald's on Futu Niu Niu: $293
Approximately $263 difference
Heard Gate was exploited for another $40,000, currently under review https://t.co/2SVwD1gWtP
This afternoon, $MCDX (McDonald's stock) on @Gate_io de-pegged and was arbitraged by some users. It's unclear if the funds were subsequently withdrawn.
We are currently in the early stages of on-chain stocks, where liquidity/trading volume is far less than mainstream cryptocurrencies. It's estimated that similar bugs/issues will continue to appear.
Those who enjoy '撸毛' (arbitrage/exploit hunting) can pay more attention. https://t.co/2ukQ03eu6u
Left: McDonald's from @Gate_io
Right: McDonald's from @MyStonksCN
If you want to bring US stocks into the crypto world,
it's not enough to just issue a token with the stock's name.
You need to manage liquidity.
Currently, the PFOF (Payment for Order Flow) model seems more reliable.
It's an order flow payment model.
It ensures that the platform has as much depth as the stock market.
This is completely different from just issuing a token named after a US stock.
Platforms currently using this model include
@RobinhoodApp, @WebullGlobal, and @MyStonks_Org by Chinese big shot @BTCBruce1.
PFOF model for trading US stocks
https://t.co/9nMa0fg6Cj
