Degenerative Finance has launched uSTONKS, a synthetic that tracks the ten most bullish Wall Street Bets stocks.
The project is a collaboration between Yam Finance and UMA protocol, and is intended to function as a DeFi proxy for hype on Reddit’s WSB. Users who mint and provide liquidity during the first three weeks will receive bonus $YAM and $UMA.
The first 100 users to hit various minting and LP benchmarks will also receive an exclusive NFT. The NFT’s visuals haven’t been revealed yet, but given the Degenerative theme, it will most likely involve WSB’s diamond-hand mascot.
In the 24 hours since launch, uSTONKS has reached $3M in TVL, Yan Finance said in a tweet.