Just 24 hours ago, @leostrategy launched a new token in its strategy to permanently accumulate LEO in its balance sheet. This time, it's a token that replicates the value of a Tesla share at a ratio of 1:100.
The token's name is TTSLA and it's been launched on both Hive-engine and BASE simultaneously. This is another milestone for @leostrategy, as it's the first time they've done so. They've added half to each chain, and I wonder where it will end up first.
Image property of Leostrategy
In total, they're aiming to raise $100,000, which doesn't seem like a huge amount considering their ambitions. This shows that this is a first foray into the world of RWA (Real World Assets). If it goes well, I think there will be many more on the way.
The synthetic token isn't directly Tesla stock, but is instead collateralized by LEO within @leostrategy's balance sheet. It also offers a 3% APR yield, which isn't much, but in this asset, it's not the most important thing since the key is to have a token that will trade like one of the world's leading stocks and at one-hundredth of its price.
They estimate the sale will last a week, but I think it will sell out sooner, especially since it offers a 20% discount on the issue. And we already know there will be many yield hunters speculating on buying early and exiting even sooner with the profits under their belt.
Either way, this is another boost for LEO to continue growing and increasing in value.
Posted Using INLEO