rkass.base.eth
@kassr30
leading @coinbasewallet
Code, Ball, Crypto, Hanabi
374 Following 540 Followers
Limit orders only occupy 3% of onchain trades. Compare this to brokerages where I literally get a warning when I submit a market order. As equities+RWAs move onchain and DEX trading matures, expect this 6% number to 10x to converge with brokerages
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Let's quantify how much value tokenized equities create. Let's assume that whenever anyone buys or sells equities at the open, they would've transacted earlier if they could. The market's closed 81% of the time so on-average someone trading at the open had to wait 20 hours to execute. How costly are those hours? Well, if I'm buying at the open, I missed out on the price action for these hours. If we assume equities outpace overnight rate by 4% per year, that's 1 cent for every $100 invested. While it's true that lots of open buys are efficient and not from idle cash (rebalancing), lots of open buys are people investing money they receive after close. That money is waking up
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