The Wall Street Bets Dapp – YOLO together as one

By April 17, 2021DApps
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Jaime Rogozinski was the original founder of the r/wallstreetbets subreddit. WSB is notorious for its community of young traders who executed risky trading strategies. WSB played a key role in the GameStop short squeeze that caused losses on short positions in U.S. firms topping US$70 billion in early 2021. VIX is the CEO of the new WSB Dapp, a decentralized Dapp that is launching a token. Token funds will be used by a WSB DAO to buy token portfolios (ETPs) voted on by the community.

Guest:

Jaime Rogozinski and VIXX

Why you should listen:

The Wall Street Bets subreddit is described as "Like 4chan found a Bloomberg terminal." Known for its aggressive trading strategies, members are generally young retail traders prepared to take on high amounts of risk. The community is fond of meme stocks that capture the zeitgeist. The subreddit is also known for its memes, with traders self-identifying as degenerate apes who trade stonks for tendies (profits).

Key takeaway:

The WSB movement for financial democracy began on Reddit and has become a global phenomenon. The WSB Dapp was created to give this decentralized community a tool to voice their opinions as retail investors so that anyone, anywhere can YOLO together as one.

The WSB Dapp allows for index-fund type instruments to exist on the blockchain. $WSB governance token holders vote to decide on the rebalancing and exposure of each community-controlled instrument. The ETPs are wholly collateralized, instantly redeemable, and self-custodial.

Supporting links:

WSB Dapp

Leverj

Brave New Coin on Twitter

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