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Felix
@felixprotocol
Modern financial account, powered by stablecoins
Joined October 2024
6 Following    22K Followers
Last week, user 0xCA...d5a opened a $1M $NOW position onchain via Felix spot equities User 0xCA...d5a was able to open up their $1M position on ServiceNow ($NOW) in less than 10 minutes for only 0.08% more than what is would cost through their offchain brokerage account Benefits of this: they did not have to go through the tedious process of offramping and transferring funds into their brokerage account. Instead, they were able to quickly open up their $1M position on Felix without incurring FX costs, prolonged settlement times, or restrictions on withdrawal amounts Trade $NOW and 264 other spot equities:
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What are the key benefits of the Felix spot equities RFQ architecture? One is driving costs down for users who want to buy stocks onchain. As an example, today, user 0x0Db…33E6 bought $100,000 of spot Nvidia (NVDA) and $100,000 of spot Taiwan Semiconductor Manufacturing (TSM) fully onchain via Felix. Right now, each of those trades would have a net execution cost of 10.6 bps and 11.1bps respectively: no more 200bps added slippage when buying spot equities onchain. Tx hashes: >0x69f5db529ce47f9c09cc4a13dfec4dec1747d5d2a59b05afa81fd2fca34ed69b >0x617e36446d38c0951a8747784aff7d39996a65223e514ce4f4da45f96c54f4d0 Trade equities here:
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