Named after the popular Reddit group which became a global phenomenon back in January, due to the GameStop GME euphoria and backed by one of it’s original founders Jaime Rogozinski, WSB dApp aims to bridge stocks and DeFi on Binance Smart Chain. Their new ETP (Exchange Traded Portfolio) protocol will act as a a physical representation of a defined basket of stocks, that the community as holders of the governance token can vote on.
As it stands, WSB dApp is one of the few projects on BSC to combine DeFi protocols such as asset tokenization, and non-custodial managed pools with traditional basket indices through their dApp, thus allowing for index-fund type instruments to exist on the Binance Smart Chain. A very innovative project, WSB will include farming as well, and a future DAO later this year, bringing traditional finance to the BSC community as a whole.
WSB’s goal is to solve the problems associated with fees and market manipulation that have always solely benefited centralized financial institutions.
WSB had it’s IDO token launch on April 20th, on BSCstarter, and sold out almost immediately. The WSB dApp, which is powered by WallStreetBets is pivotal to the WSB ecosystem as the functionality reallocating the special privileges of closed-door institutions to community members. It offers blockchain backed financial instruments to index funds, offering a diversified portfolio with great long term gains and at very low costs.
You can find more information about WSB dApp at their website at https://www.wsbdapp.com/ Their dApp however hasn’t launched yet, but is coming soon.