dave hagen

1 wife, 4 sons, & 12 grandkids! Author of the best selling parenting book “The Masterpiece Mindset: Empowering your kids to be Confident, Kind, and Resilient.”

[Brim @brim_hq]

One bucket, one line, one button. Brim explained:

[Mick Hagen @mickhagen]

Tokenized stocks got a five-year green light in America today.

Most of the posts are about trading: instant settlement, markets that run through the weekend, fractional shares by default. All real, and @vladtenev's post covers it well.

Mine is about one line, and it's the SEC chair's own. To qualify, a tokenized stock "must provide holders with the same rights and privileges as those stocks that you may purchase on your brokerage account today." Voting, dividends, the ability to collect the actual share. Anything that only tracks the price gets nothing.

That line is a collateral policy. I don't think the SEC meant to write one, but it did, and it draws the line in the exact place a lender would.

Here's why I read it that way.

When you run a lending market as I do with @ripe_dao, you spend all day thinking about what the collateral is worth on the worst day of the year, when everyone wants out at once. A token you can redeem for the share is worth the share. A token that only tracks the share price is worth whatever someone will pay for it that afternoon, which on the worst day isn't much.

I learned that distinction the expensive way. I was the largest aOHM holder in 2021, holding a token with a floor, a treasury, and a promise, and I found out on the day it mattered that a promise doesn't have a redeem button.

So when a regulator says the only tokenized stocks that get a venue in America are the ones you can hand back for the real share, I hear something specific. During the next five years, tokenized stocks are going to be the best collateral I've seen in this industry. ETH can drop by half in a month, and a stablecoin is designed not to go up. A share of a real company, with the rights attached, trading around the clock inside smart contracts, is a different kind of asset to lend against.

And collateral is where the actual money is. Wealthy people have known this for a century. They don't sell the stock, they borrow against it, and the stock keeps compounding while the loan pays for the house. Until this year, that was a product for people with a private banker. On blockchains (RH, Base), it can be a phone and a wallet.

Robinhood said three days ago that in-kind redemption and voting are coming for their Stock Tokens. Read that next to today's order. The biggest distributor of tokenized stocks in the world announced that move three days before the SEC required it, and the borrow market against those stocks is already open.

I'll make one prediction. The first stocks to matter on these new trading venues won't be the biggest ones. They'll be the ones with a crowd. In Robinhood Chain's first month, the stocks doing the most volume weren't just the blue chips (Apple, Nvidia). Rather, it was GameStop, AMC, Hims. And Saylor spent this morning telling people MSTR will be trading around the clock on these new trading venues. The retail names go first, the boring names follow. And the moment those stocks are sitting in a wallet, somebody wants to borrow against them instead of selling. That last part is the lane I'm in.

Five years is a long time to build, and the collateral is already here.

Let's go! 🤝

[Brim @brim_hq]

선까지는 약속, 선 위는 덤.

[Brim @brim_hq]

Brim in 20 seconds. A bucket of real assets, a line that marks what backs each token, and a redeem button that hands you your share at that line. Everything above the line overflows to the people who stay.

[Ripe Protocol @ripe_dao]

Are you positioned, anon?

[Brim @brim_hq]

Meet Cal. He watches the line.

"First Fill" order is being decided right now.

https://t.co/3T6oyJMSx9

[Brim @brim_hq]

Overflow szn. Thanks @0xSammy for the mention.

[Ripe Protocol @ripe_dao]

SELL™. It's that easy.

[Brim @brim_hq]

The premium funds the yield.
The reserve funds the floor.
Nothing mints unpaid.

@mickhagen on what Brim takes from @OlympusDAO, @NetNetCap, and @standard_rsv, and the one thing none of them built.

[Mick Hagen @mickhagen]

I was one of the biggest whales in @OlympusDAO. Here's what @NetNetCap and @standard_rsv got right, what neither of them fixed, and what @brim_hq does instead.

[Brim @brim_hq]

681 wallets are earning Juice. About 70 clear the bar.

This list sets the order for Brim's First Fill.

https://t.co/3T6oyJMSx9 (🪣, 🪣)

[Ripe Protocol @ripe_dao]

There was a big keynote today about a phone.

Here's a shorter one about not selling your Apple stock to buy it.

https://t.co/5KPGJlMH7m

[Ripe Protocol @ripe_dao]

The Ripe loop:

Stake RIPE, your Juice score climbs, you get more BRIM, Brim becomes Ripe customer, and revenue makes people want RIPE.
https://t.co/5KPGJlMH7m

[Ripe Protocol @ripe_dao]

SPY has the deepest stock token liquidity on Robinhood Chain. You couldn't borrow against it anywhere.

Now you can. SPY, QQQ, MU, MSTR and AMZN are live as collateral on Ripe.

https://t.co/5KPGJlMH7m

[Brim @brim_hq]

Introducing the "First Fill", Brim's genesis event.

Anyone can contribute, any amount, no cap. 2.5 USDG p/ BRIM, bonuses on top for early days, WL, @ripe_dao Juice Score.

Not live yet. Date to be announced. Nothing to send.

https://t.co/9CLMpw2OCY (中文 · 한국어 · 日本語)

[Mick Hagen @mickhagen]

Brim's "First Fill" (🪣, 🪣)

[Ripe Protocol @ripe_dao]

Put your stock tokens to work. Borrow against them.

[Mick Hagen @mickhagen]

Fill. Spill. Chill. (🪣, 🪣)

Latest in the @ripe_dao ecosystem.

[Ripe Protocol @ripe_dao]

Deposit tokenized stocks, take out one loan, get paid to do it. Only on Ripe. 🍋

[Ripe Protocol @ripe_dao]

Tokenized stock borrowers now earn 5x RIPE rewards.
Right now that is worth FAR MORE than the interest on the loan. Then put it into sGREEN for more yield.

We’re giving out literal free money. Happy farming. 🧑‍🌾