Proposal to launch TSLA/USDC market

Proposals
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I think there is quite some demand for Synthetic Stocks like Tesla, since it provides global access to local stocks. Probably people in Asia want to trade American stocks and Vice Versa. This has proven to work well for Mirror protocol. They are doing around $40m in 24hr volume mostly on Synthetic Stocks likes Tesla, Twitter, Apple, etc. Set protocol has also added a FAANG set based on Mirror protocol’s synthetic assets.

Taking this as a cue, maybe adding stocks like TSLA/USDC for trading could benefit Perpetual Protocol a lot, so I propose to add a TSLA/USDC market.

Chainlink has a price feed for TSLA.

4 Likes
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This would be a big winner for customers. I know I would be all over this.

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If Mirror can add stocks I don’t know why Perp can’t do the same. Apple, Tesla, and the Nasdaq would be huge for DeFi and Perp.

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I agree.
This could be a BIG market in the next few months.

Several EU countries currently do not tax crypto transactions (like the ones occuring in Perpetual protocol).
The tax occurs only when tokens are sold for fiat (a real one: EUR, USD, etc), and this is around 25-35%.

This means that trading stocks on Perp would incur in no taxes (only one at the end, when quitting crypto to fiat).

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Yes, from fund utilization efficiency, perpetual is greater than synthesis assests, we will get huge market!

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Please note that it might not be as easy to keep the price close to index, since arbitraging this pair would require using some other crypto synth, or a tradfi broker (which often disallows shorts/leverage). Need to survey the arbitragers if anyone will be able to maintain the peg before launching this.

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