Junghyun Park

Building DollarParking.
Turning Asia’s idle USDT into US stock tokens.

[ProtocolCamp @ProtocolCamp]

1/ The winners of Cohort 9's Final Demo Day Announcement

10 teams pitched at @CoinfestAsia in Bali. Three walked away with awards. Meet them 🧵

[Brian @BrianInCrypto]

Big fan of @Uniswap, but AMMs are going to zero.

At XTX Markets, I traded 4% of all US Equities volume on any given day. None of it ever went through an AMM and none of it ever will.

1. Making markets via AMMs is like being a plastic bag drifting in the wind (to quote Katy Perry). If you're a market maker, you want to be able to actively place and cancel orders across thousands of assets at different depths in the book. Doing this via an AMM is nearly impossible. Instead, you put up liquidity in a range and then acquire impermanent loss while getting picked off by takers.

2. It's more expensive and imprecise to manage liquidity on AMMs than in a traditional exchange. You have to model network congestion and then pay gas and protocol fees. Meanwhile, in traditional exchanges you have a co-located FPGA where you can easily measure p90, p99 latencies. Fewer uncontrolled variables.

3. "AMMs lower the barrier to making markets, opening the space up to many new participants." First, not everyone should be making markets. Retail participants should not be making markets. The worst thing for retail to be doing is trading against other retail. You want to trade against people who have different time horizons. For example, market maker (seconds time horizon) vs. retail (years time horizon).

4. AMMs do not segregate order flow properly. Wintermute should not be getting the same pricing as Joe in Minnesota. Retail spreads should be tighter.

5. Retail has been sold a lie on high APRs they get by "making markets" via AMMs. "452% on CASHCAT" is a great headline, but in reality the typical retail investor has no understanding of how an AMMs works. Try explaining what an AMM is to a normal person. This complexity is why AMMs will never take off for general retail outside of crypto degens.

AMMs have their place: "where most assets couldn't get a professional market maker's attention." Or during weekends when traditional markets are close, yet this gap is closing.

All of the tokenized equity issuers are moving to a model similar to @Ondo whereby stocks are minted/redeemed through RFQ (no AMMs). Now, compared to traditional markets even RFQ looks antiquated. We will soon see more dark pools and SDPs which stream quotes direct.

That is the future I see.

[Hayden Adams 🦄 @haydenzadams]

My first blog post since 2019! https://t.co/XTpGSkEUSg

[Junghyun Park @rockethyun]

Don't swap on @MetaMask or @Uniswap directly when you are trading US tokenized stocks.

Use @dollar_parking.

@dollar_parking will help you find the cheapest route to swap them starting from ~0.1% trading fee.

[DollarParking @dollar_parking]

Most wallets and DEXs charge 0.7% to 0.875% to swap into tokenized US stocks.

That's a lot to give up on every trade.

DollarParking charges from 0.1%, and it's fixed.
No slippage, no gas, no worse-than-quoted fills hiding behind the number.

- One fixed fee, known before you sign. What you see is what you get.
- Non-custodial, no KYC. Just connect MetaMask.
- Care+ reimburses up to $10,000 per wallet if an incident occurs while trading on DollarParking.

Trade US equities with USDT/USDC, onchain.
> https://t.co/eeo7VcAHIA

[Junghyun Park @rockethyun]

When self-driving becomes standard,
we'll ban human drivers.

When AI investing becomes standard,
we'll ban human investors.

Your personal AI agent should invest for you.

[Junghyun Park @rockethyun]

Unpopular opinion:
Most people should be banned from investing unless they're professionals.

[Junghyun Park @rockethyun]

Asset inflation made investing mandatory. But nobody ever taught us how.

So we're all forced into a game we were never trained for, and most of us lose. That's not freedom. That's just dangerous.

[Junghyun Park @rockethyun]

@ProtocolCamp @tianbuyung @offchainglobal @offchainglobal helped us promote our offline crypto event last year at SF.
https://t.co/CdO32draGq

So happy to hear both my favorite orgs(@ProtocolCamp & @offchainglobal) are partnering!

[Stacy Muur @stacy_muur]

Everyone assumes @Ondo owns tokenized stocks.

But today, it's a lot more competitive than you think.

Total value of tokenized stocks grew from $290M to $1.9B during the 2025/26 period, but the bigger change is how much more competitive the market became.

Here's how it fragmented ↓

1. Platforms

In January 2025, @Securitize made up 94.6% of the market.

Today, its share is down to 13%. Current leaders:
• @Ondo: 45.5%
• @xStocksFi: 25.9%

2. Networks

At the start of 2025, nearly all tokenized stock value sat on @Algorand.

Right now:
• Ethereum: 35.9%
• Solana: 18.7%
• BNB Chain: 16.3%

Tokenized stocks are no longer tied to one network.

3. Holders

From 2025 to 2026, wallets holding tokenized stocks grew from 57K to 752K.

Robinhood now accounts for 44% of holders but only 2.3% of total value, while Ondo has fewer holders and much more capital per wallet.

The leaders are different depending on what you measure:

@RobinhoodApp wins distribution.
@Ondo wins capital.
@xStocksFi wins activity.

Tbh, I find this much healthier than one platform and one chain owning almost the entire category.

It signals a maturing market.

[DollarParking @dollar_parking]

@dollar_parking is now an official ecosystem partner of @Ondo for Ondo Stocks.

Listed under Exchanges/Swaps alongside 1inch, CoW Protocol, and Euler.
And the first Korean partner on Ondo's ecosystem list. 🇰🇷

Across Asia, where local currencies keep losing ground, USDT and USDC aren't just crypto.

They're a better dollar:
– 24/7, no bank hours
– FX fees ~10x cheaper than a bank
– Access to every RWA on-chain

For decades, Asia's dollars ended up in US Treasuries and US equities.

Asia's stablecoins will take the same road. Money always moves toward the stronger asset.

@Ondo is building the rails. @dollar_parking is where Asia actually gets on them.

Thanks to everyone at @Ondo for making this happen.

@dollar_parking will keep helping anyone in Asia build the wealth that fits their life goals.

[Junghyun Park @rockethyun]

@dollar_parking Congrats!

[DollarParking @dollar_parking]

DollarParking is live.

The best way to trade US stock tokens with the USDT·USDC in your MetaMask wallet.

Gasless. No hidden markup in the quote.
See the exact tokens you'll receive before you sign.
One clear fee, from 0.1%.

On-chain trading, finally predictable.

[ProtocolCamp @ProtocolCamp]

Stablecoin-powered investing for Korean retail investors.

BeBridge (@dollar_parking) lets Korean retail investors buy US stocks with stablecoins. No gas, no slippage, no crypto know-how: it feels like a normal brokerage, fully on-chain.

🔗https://t.co/4npaXdq5VD

[DollarParking @dollar_parking]

@dollar_parking will be pitching in @ProtocolCamp's Cohort 9 Mid Demo Day.

DollarParking?
Bringing tokenized US stocks to Asia. As easy as your brokerage app. See you in Seoul. 🇰🇷

[Junghyun Park @rockethyun]

Our team, DollarParking, will be presenting at the Mid Demo Showcase w/ our tech lead @adriel_mind.

See you there!

[ProtocolCamp @ProtocolCamp]

Protocol Camp Cohort 9 by @0xShardLab x @hashed_official is heading to Seoul 🇰🇷

Our builders take the stage at the Mid Demo Showcase to present their in-progress products and get live feedback from leading VCs and experts.

Real demos, real momentum, new connections.

[Garry Tan @garrytan]

Be your self, not someone you were assigned to be!

Bezos won on time horizon, not AWS or 1-Click.

If your bets have to work in 3 years, you compete with everyone. Every smart, funded team is chasing the same 3-year problems. Short horizon, crowded field.

Stretch to 7 and the field collapses. Investors want returns, employees want vesting, founders want proof. Almost nobody can sit in a bet that doesn't pay for most of a decade. The patience is the moat, and it costs you, that's why it works.

But you can't fake a 7-year horizon on a problem you don't actually care about. Pick the users and the problem Moloch assigned you, the safe ones, the fundable ones, and you'll bail the first hard year. Pick the ones that are actually yours and you'll still be there when everyone else has quit.

So the real prerequisite isn't discipline. It's knowing yourself well enough to choose a problem and a set of people you care about that you'll serve them for decades.

[Junghyun Park @rockethyun]

Honored to represent Korea 🇰🇷 in @ProtocolCamp Cohort 9.

Now back to building DollarParking, tokenized US stock trading for Korean retail investors. 12 weeks, let's go.

Thanks @SEABWofficial @hashed_official @0xShardLab for making this happen.

[ProtocolCamp @ProtocolCamp]

Protocol Camp Cohort 9 is officially underway 🔥

23 builders from Thailand, the Philippines, Indonesia, Malaysia, Korea, and across Asia kicked off in Bangkok during @SEABWofficial. We were honored to have Mr. Muhammad Neil El Himam, Deputy Chairman for Digital & Technology Creativity at Indonesia’s Ministry of Creative Economy @ekraf_ri, and Hojin Kim, CEO at @0xShardLab, open the program with us. A powerful reminder of the momentum building around Asia's builder ecosystem.

Our builders dove straight in, competing at the Play to Build: AI Hackathon on day one, with Junghyun from BEBRIDGE taking first place and setting the tone for the whole cohort.

12 weeks. 23 builders. We can't wait to see what they ship.

[Junghyun Park @rockethyun]

@ProtocolCamp @SEABWofficial Thanks for having me! Proud to kick off Cohort 9 with the hackathon win at @SEABWofficial.
Can't wait to see what all 23 of us build over the next 12 weeks.

[Junghyun Park @rockethyun]

Won the grand prize at @SEABWofficial AI Hackathon out of 92 teams.

Product?
Built an AI agent that rates RWA token trustworthiness by analyzing audit reports in 24-hours.

We know RWA inside out, and we're building the distribution layer for Korea's $14.7B retail dollar investing market.

If you're in RWA/tokenization and want to reach Korean retail, let's talk.

[Junghyun Park @rockethyun]

@adriel_mind Let’s go Bebridge!!! 🚀🚀