SpaceX tokenized stock (PreStocks) (SPACEX)

This market is being thoroughly manipulated by the airdrop point program.

In reality, $SPACEX trades at around $400 on the OTC Market, yet on Ventuals HIP-3 Market, you can inflate the FDV to 200B with just a $20k-40k.

Looking at short position liquidity makes it simple.

The reason shorting is extremely disadvantageous is as follows:

1. The moment you short, you cannot liquidate your position at market price because market orders are impossible when the price exceeds 20% of the Oracle Price.

2. There is no counter-position liquidity for shorts. Not even a few thousand dollars' worth of liquidity exists.

3. Even at 20% of the Oracle Price, the funding rate only maintains an APR of 50-100%. This means that even if the price rises to 20% of the normal price, you only pay a cost of 0.3% per day.

The team is enjoying the viral situation created by the price increase. It's a very unhealthy sight.

@ventuals @paradigm

A couple of days ago, @RobinhoodApp's $SPACEX added a pool on @Uniswap and started trading.

But early this morning, Robinhood first renamed $SPACEX to "demo token 1" (https://t.co/DW6NqCzKS7), then suspended all equity token trading on Uniswap (https://t.co/DW6NqCzKS7). A few hours later, they upgraded the contract and directly wiped out everyone's account balances (https://t.co/k6POipa7sQ).

Is this RWA? I'm utterly shocked 🥲