If Meme can squeeze Wall Street, how much market value do you think this Meme is worth?
Last night's BONER has already risen.
Today another rabbit has arrived.
Rabbit on the Robinhood chain.
CA：
0xcd1cca2b3d0a11b295c42fe765ea8f895c2d0901
The core narrative of this project is not about rabbits, nor is it about AI.
But rather:
Using the liquidity of Meme to squeeze Wall Street.
The target chosen by Rabbit is WYFI.
Behind WYFI is the Nasdaq-listed company WhiteFiber, a company that does GPU cloud and AI data centers.
Why not choose NVDA, TSLA, but instead pick a small-cap stock?
Because throwing this amount of money at Nvidia would barely make the chart sneeze.
But if the target is a small-cap stock with a smaller circulation and thinner liquidity, which also has shorting chips, the same amount of funds could create more significant price fluctuations.
The smaller the market, the more concentrated the short positions, and the less fuel needed for a squeeze.
This is also the starting point of Rabbit's entire narrative.
Its native pool is not Rabbit/ETH, but Rabbit/WYFI.
To buy Rabbit in the native pool, one must first exchange WYFI Stock Token.
So this machine begins to turn:
The market continues to buy Rabbit.
More WYFI Stock Tokens enter the permanent pool.
The amount of freely circulating WYFI on-chain decreases.
If Rabbit continues to rise, and the market wants to keep buying, it needs to find more WYFI Stock Tokens.
Here comes the question:
What if there isn't enough WYFI on-chain?
Robinhood's official information shows that Stock Tokens are supported 1:1 by the underlying stocks; new Stock Tokens can only be subscribed to through authorized participants, and currently, the authorized participant is BBVI. Robinhood official explanation
The theoretical transmission path appears:
Rabbit continues to rise
→ The market continues to scramble for WYFI Stock Tokens
→ On-chain inventory of WYFI decreases or premiums arise
→ Authorized participants replenish Stock Tokens
→ The issuing side synchronously supplements the corresponding underlying WYFI stocks
→ Spot buying increases
→ Stock price rises
→ Shorts bear pressure
→ Shorts cover
→ Stock price further rises
This is the on-chain version of GME that Rabbit wants to tell.
On-chain players are responsible for grabbing stock tokens.
The issuing side is responsible for replenishing the underlying assets.
Ultimately, Wall Street shorts are responsible for writing the climax of the story.
Of course, this chain is not a vending machine.
Every time Rabbit rises, it doesn't mean Robinhood will immediately rush into Nasdaq to buy a chunk of WYFI.
New Stock Tokens may first use existing stock inventory; only when on-chain demand and premiums persist, and authorized participants are willing to expand issuance, and when inventory is insufficient, can new spot purchases occur.
What can be confirmed now is:
The Rabbit native pool indeed needs WYFI for purchase, and net buying will leave more WYFI in the permanent pool. o1 stock pairing mechanism
Robinhood Stock Tokens indeed adopt a design supported 1:1 by the underlying stocks. Robinhood product explanation
But there is still no evidence proving that Rabbit has spurred BBVI to issue new WYFI Stock Tokens, nor is there evidence that the shorts on Nasdaq have covered as a result.
So the market is not trading on "the squeeze has already happened."
But rather:
If on-chain liquidity can indeed transmit to US stock spot via Stock Tokens, what will happen?
This is where Rabbit is most imaginative.
Ordinary Memes sell a type of animal.
Rabbit sells a ticket to participate in on-chain GME.
If we can later see three data points change simultaneously:
WYFI in the Rabbit native pool continues to increase.
Total supply of WYFI Stock Tokens begins to grow.
Nasdaq WYFI's trading volume, stock price, and short data show a correlation.
Then this rabbit is not just riding on a stock.
It may really be attempting to knock on Wall Street's door using on-chain liquidity.
Once this path is validated, the market may likely replicate it en masse:
Search for small caps, high short interest, and low liquidity stocks.
Issue corresponding stock pairing Memes.
Create attention using Memes.
Use Stock Tokens to absorb liquidity.
Then transmit the on-chain demand to US stock spot.
By then, coin-stock Memes will no longer just be "stock code plus an animal picture."
It will turn into a set of on-chain games specifically looking for weaknesses in Wall Street.
Whether this rabbit can squeeze WYFI, we still don't know.
But the question it raises is already interesting enough:
When on-chain lunatics start studying the circulating market and short positions of US stocks, can Wall Street still treat Memes as a joke?
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