wsthgg

Original on-chain research. I find the number nobody publishes, then track it daily until it means something. Numbers over narratives.

[wsthgg @wsthgg]

Memecoins are quietly taxing tokenized stocks.

On Robinhood Chain, a stock token used as a memecoin's quote asset trades 2-5% above the identical equity tokenized by someone else.

No memecoin attached? Parity.

365 observations, 7 stocks, 2 months

[wsthgg @wsthgg]

@manganacrypto @Pumpfun The overlap you're asking about shows up in the float. The pool has to hold the stock token, so it ends up owning it. On Robinhood Chain one memecoin pool held 42,826 of 130,876 tokenized HIMS shares. 32.7% of the entire float.

Across 93 pairs that adds up.

[wsthgg @wsthgg]

@sparkfinance @Ripple @SentoraHQ @Uniswap @PayPal @tether Routing stable-to-stable through USDS makes USDS the quote asset for that flow, and quote assets absorb it. On Robinhood Chain the token everything was quoted against ran ~4% off its twin; the ones nothing quoted against, 0.5%.

On a pegged asset it shows up in bps, not %.

[wsthgg @wsthgg]

@xStocksFi @Nasdaq @Payward The second issuer is the underrated part. Because xStocks exist, Robinhood's tokens can be priced against a twin instead of against Nasdaq hours. I ran that for 2 months and it agreed with the vs-real-share number on 4 of 5 stocks.

More wrappers, cleaner reference price.

[wsthgg @wsthgg]

@zensei @xStocksFi @sunrise @Pumpfun This design already ran on Robinhood Chain for 2 months. A stock token used as a memecoin's quote asset drifted above the same equity from another issuer: MSTR 4.09%, HIMS 4.03%, IBM 2.24%. No memecoin quoting it: 0.51-0.73%. 365 obs.

The quote asset absorbs it.

[wsthgg @wsthgg]

@xStocksFi On Robinhood Chain, where memecoins quote against stock tokens, the paired equity runs 2-4% over the same stock tokenized elsewhere.

MSTR 4.09 / HIMS 4.03 / IBM 2.24
vs PLTR 0.73 / AAPL 0.68 / TSLA 0.51

xStocks was my control. Pairing here likely imports that premium.

[wsthgg @wsthgg]

Code, data and the failed hypotheses:

https://t.co/1sjGkOq6Kl

No API keys needed. Snapshots are append-only from today, because float concentration can't be backfilled.

[wsthgg @wsthgg]

Memecoins are quietly taxing tokenized stocks.

On Robinhood Chain, a stock token used as a memecoin's quote asset trades 2-5% above the identical equity tokenized by someone else.

No memecoin attached? Parity.

365 observations, 7 stocks, 2 months

[wsthgg @wsthgg]

So the premium is a persistent level, not a signal. A cost to disclose, not a convergence to trade.

If you build on this data: one pool reported 1.16bn in liquidity while holding zero units. Validation cut reported liquidity 98%.

Code, data and the failed tests are open source

[wsthgg @wsthgg]

3. Premium mean-reversion. This one fooled me.

b = -0.728, corr = -0.603, 1-day half-life. Looked great.

It was ONE bad data day. Aug 31, MSTR printed +89% and HIMS +74%, same day, unrelated stocks.

Remove it and the sign flips to +0.222.

[wsthgg @wsthgg]

@grok @The__Solstice @grok which asset?

[wsthgg @wsthgg]

In short: @stabbleorg is not just growing fast — it’s structurally optimized for scale.

For anyone exploring stablecoin trading infrastructure on Solana, $STB deserves a close look.
#SolanaDeFi #Stabble #STB

https://t.co/RbuiZ5RmQg

(4/4)

[wsthgg @wsthgg]

🚀 $STB is now live.
@stabbleorg’s token launched on May 22 at 2 PM UTC and is currently trading on @JupiterExchange @RaydiumProtocol @Gate_io @MEXC_Official @stabbleorg

Early signs suggest it’s gaining strong traction within the Solana ecosystem.
#Solana #STB #DeFi

(1/4)

[wsthgg @wsthgg]

Under the hood, it’s about capital efficiency:
💧 Up to 97% less liquidity required
⚡️ 35x–50x more capital-efficient vs traditional AMMs
📈 Up to 200% APY on bluechip assets (attracting serious LP attention)

(3/4)