Basket Protocol

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[Basket Protocol @basket_IMD]

Basket Protocol is a new financial experiment on Robinhood Chain, launched via the $IMD swarm.

Can a community build an ever-evolving onchain index of stocks that earns consistent fees from the price movement of the stocks inside it?

The protocol fully opens up Monday. 🧵

[Basket Protocol @basket_IMD]

Over the past 24 hours, the Community Stock Basket has generated 130 $BASK in fees.

The majority of these fees were generated with less than $10K in TVL, further demonstrating the mechanism’s potential to deliver sustainable, meaningful value as TVL grows.

We’re also working on new products designed to drive even more value across the Basket Ecosystem.

More to share soon ❤️

[Basket Protocol @basket_IMD]

$ITEM is live. The vault's fee switch to ITEM staking is queued onchain and can execute from Wed 10/21.

$BASK: 0x739fD5B653aA092a434534FA1aDE67C1770b5a5B
$ITEM: 0x4F1b7a5aAF3768F7500E9ab5CBBF3762834e8B57

Full write-up: https://t.co/v9OYYGNMHY

Not financial advice.

[Basket Protocol @basket_IMD]

Most DeFi yield is taken from someone: holders, latecomers, or the losing side of a bet.

Basket Protocol's yield comes from somewhere else: the stock market moving.

Here's how $BASK earns, who actually pays, and why its farmers hold stocks and dollars, not memecoins. 🧵

[Basket Protocol @basket_IMD]

It's not risk-free. Stocks can fall, ITEM's price can fall, LPs carry the usual pool risk, and no volume means no fees.

But every source of yield here is one you can point to onchain: stocks moving, and people choosing to close the gap.

[Basket Protocol @basket_IMD]

Prefer Uniswap? Add liquidity on Uniswap v2 to get your LP tokens:

• BASK/USDG: https://t.co/o35h4Iooo0
• ITEM/ETH: https://t.co/E2As84J4tK

Then stake your LP tokens on the Earn page to start farming $ITEM: https://t.co/ksYWFwH8Fr

[Basket Protocol @basket_IMD]

🌾 Farming and staking are officially LIVE!

Provide liquidity to BASK/USDG or ITEM/ETH and farm $ITEM.
Stake $ITEM and earn a share of Basket's fees in $BASK.

No locks. Everything can be done directly on the Earn page, with clear instructions: https://t.co/ksYWFwH8Fr

[Basket Protocol @basket_IMD]

🚀 $ITEM is officially LIVE!

$ITEM CA: 0x4F1b7a5aAF3768F7500E9ab5CBBF3762834e8B57
$BASK CA: 0x739fD5B653aA092a434534FA1aDE67C1770b5a5B

Prep for farming and staking:
• Grab $ITEM: https://t.co/kbSlpXiUWy
• Deposit your favorite stock to get $BASK: https://t.co/XFd38byaZq

[Basket Protocol @basket_IMD]

🧺 Basket deposits are officially LIVE!

Help build the community basket: https://t.co/XFd38byaZq

$BASK CA: 0x739fD5B653aA092a434534FA1aDE67C1770b5a5B

Up next on Monday, Oct 19, between 10am and 12pm ET:
• $ITEM launch
• Farming
• Staking

[Basket Protocol @basket_IMD]

🌾 Get ready to farm $ITEM on Monday:

1. Deposit on Basket to get $BASK
2. Get some USDG
3. Open the BASK/USDG pool on Uniswap v2: https://t.co/o35h4IoWdy
4. Enter an amount, approve both tokens, then add liquidity
5. Hold your LP tokens and stake them Monday