TTSLA is synthetic TSLA exposure onchain, pegged 1:100 (1 TTSLA ≈ $4.40 if TSLA=$440)
Backed by over-collateralized LEO, no redemptions, just predictable policy to keep it locked in
As someone who’s been a tradfi buyer of TSLA for years, I wait to sink my teeth in on this one
I am almost done listening to the video so not sure if you addressed it but wow this is sick
What I was thinking is imagine something big happens to TSLA or Elon on a Saturday, this coin can be a huge leading indicator to what will happen on the open of the stock market
Will be interesting to see people catch a massive dip and earn nice APR until price goes back to parity
Would be wild if you actually held the Tesla shares then raise the money to sell tokenized shares then use the funds to buy another $100,000 of another company, say NVIDIA, raise more money by selling tokenized nvidia shares and so on and so forth. But I assume that'll raise so many custody and security issues
In regard to if anyone else doing this I am not sure. I know PAX Gold actually holds Gold in vaults. So having this as a pure synthetic product that pays HBD in yield will be fascinating to see how it works I will try to buy some now even if its just a bit