Wrapped Stocks on Ethereum: Meet StonkSwap and STONK Token

Find the description of the StonkSwap protocol and learn how to trade its token on Tokpie Exchange.

trade Stonk tokens on Tokpie

Apart from DeFi and NFT boom, another trend is rising in the crypto market. We are talking about platforms that allow users to trade traditional stocks on a blockchain. Today, you will learn about the StonkSwap working protocol and its STONK token. Also, you will learn how to trade STONK tokens on Tokpie.

What’s the StonkSwap?

The StonkSwap is a decentralized protocol to wrap stocks from the classical stock exchange market. As a result, StonkSwap users can trade wrapped stocks right from their Metamask wallets. That solution gives the following advantages comparing to traditional stock exchanges:

  • Ability to trade stocks 24/7/365;
  • Simple cross-border trading regardless a user’s location;
  • Immediate settlement. Just like on any DEX.

So, StonkSwap’s users can buy and sell wrapped stocks like Tesla (wTSLA) or Apple (wAAPL) on the Ethereum chain quickly. The holders of StonkSwap tokens can define what assets to add to the list of wrapped shares. Moreover, users store all wrapped stocks backed with actual stock shares in their wallets. That’s exceptionally safe.

StonkSwap app
StonkSwap DEX protocol

What’s the STONK token?

The STONK is an ERC20 token. Its primary values are to be a governance token and pay trade fees. Consequently, only STONK-holders vote for the new stock to be wrapped and added into the StonkSwap protocol. Also, users spent STONK for each trade as a gas fee.

How to buy STONK tokens?

To purchase STONK tokens for ETH do three simple steps:

  1. Fund your account with ETH. If you don’t have crypto, you can purchase ETH with a bank card in a few minutes.
  2. Open the STONK/ETH order book and place your trade order to buy. Use this instruction if you don’t know how to place a trade order.
  3. Withdraw STONK tokens to your personal Ethereum wallet or hold them on the account.

How to sell STONK tokens?

To sell STONK tokens for ETH follow three steps:

  1. Deposit STONK tokens on your account.
  2. Open the STONK/ETH order book, and place your trade order to sell. Read the instruction if you don’t know how to place a trade order.
  3. Withdraw ETH to your personal Ethereum wallet or hold them on the account.

How to deposit STONK tokens?

To deposit StonkSwap tokens on your Tokpie account, follow this guide. Also, make sure that you are going to deposit tokens that relate to this smart contract address. If you deposit the wrong tokens, Tokpie could not identify your transfer.

Note: Tokpie doesn’t charge any fees for depositing.

How to withdraw STONK tokens?

To withdraw StonkSwap tokens from your Tokpie account, use this instruction. Besides, you must have an eth compatible wallet address to be able to withdraw tokens. Also, check the withdrawal commission.

Disclaimer

In addition, please be aware that Tokpie charges a fee for the listing. Tokpie does not give any investment, legal, tax, financial advice, or warranty of token price performance or successful fundraising.

Useful links to trade Stonk

For any questions or cooperation, you can contact Tokpie at https://t.me/tokpie.