Name of Project
Ticker for Token
1) In one sentences or less, describe your token. This isn’t the time to get wordy, just to the point!
Invest and trade in stocks 24/7 anywhere from the world
2) Do you have a video to introduce yourself or explain the token? Upload it here and share the link here. (Not required)
3) Do you have a logo for your token? If so, upload it here. (Not required)
4) How does your token work? Be as detailed as possible
Might need regulatory permission, 6 months project.
5) What problem is your token aiming to solve? How will this positively impact the crypto industry?
Stock market operates 5 days a week for 6 to 7 hours per day. US stock market is accessible only to US investors. Provide a platform which will tokenize the stocks. People all over the world can trade or own the stock tokens 24/7, anytime. It gives an opportunity for anyone is the world to invest in popular stocks like Tesla.
The stocks are held in centralized demat account. For every one stock held in demat account produces exactly one token. Users can buy or sell the token. Whoever holds the token can sell the token but the underlying stock is never sold. So the actual stocks acts like collateral.
6) What was the inspiration of this token? How did you think of it?
I saw in twitter, lot of non US investors asking questions about buying Tesla !
The token trades during weekend gives fair indication of the stock markets during weekend.
You need not wait till Sunday afternoon for futures market to start.
7) Are there any projects out there doing something similar?
Not aware of.
8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explore phase)
9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?
Supply depends upon the underlying stock.
10) How long do you think it would take to build a minimal viable token?
11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)
12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?
Stocks held in centralized demat account. Need a mechanism to cryptographically secure the account.
If the stocks are moved out the account, then the token holder loses the value.
If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.
Twitter : jagsposts
This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc