Original ｜Odaily Planet Daily（@OdailyChina）
Author｜Golem（@web3_golem）
The BSC coin-stock Meme counterattack is still ongoing, and the Meme masters have made a fortune again.
On the morning of September 8, CZ posted on the X platformstating “IPOs will move on chain”, and just a minute later, the BSC Meme launchpad Four.meme introduced a new coin-stock pairing Meme token launch model—4Stock, and issued the first stock token BNC4, pegged 1:1 to the US stock CEA Industries (BNC).
Subsequently, the first Meme coin 4Stock, with the stock token BNC4 as collateral, was born, and within just 3 hours, its market capitalization peaked at 90 million USD, currently retracting back to around 40 million USD. The price of BNC4 was also pushed up, once exceeding 30 USD, about 10 times the premium of the BNC stock price. Even more magically, the “coin-stock pairing Meme flywheel” was effective again, and the BNC stock actually rose because of this, gaining over 50% pre-market, with the stock price temporarily reported at 5.5 USD. As of the time of writing, the stock token BNC4 has seen a price drop, but it remains around 10 USD.
All of the above events occurred within 3 hours, and even in such a short time, some players have made significant profits. According to Lookonchain monitoring, a trader (0xbebb…7c3f44) spent about 4,400 USD to buy 4Stock, and as of the time of writing, has a floating profit of 1.08 million USD, still holding; several participants involved in BNC4 arbitrage have shared their profits on social media, with earnings ranging from tens of thousands to hundreds of thousands of USD. Trader 0xShawn postedofficial documentation), and after the transfer is complete, they still need to fill out the 4Stock mint form and submit it. The official will process it in order upon receipt, while charging a 1% minting fee (10,000 USDC charges 100 USDC).
Four.meme promises to purchase the corresponding underlying assets within 24 hours after receiving USDC and will mint the corresponding number of 4Stock based on the actual quantity purchased. The very small time difference is the key for BNC4 arbitrage players to make profits.
Four.meme will mint BNC4 based on the market price of the underlying stock BNC, rather than based on the on-chain price of BNC4. For instance, if trader 0xShawn invests 30,000 USD to get 6,666 BNC4, the mint price for BNC4 is about 4.5 USD, whereas by the time he receives BNC4, the on-chain price has risen to over 30 USD, so 0xShawn achieved over 7 times return.
As of the time of writing, the unit price of BNC4 is around 10 USD, while the night trading price for BNC stock is 5.5 USD, meaning there is still arbitrage space. However, BNC is a small-cap stock, and since it is currently during the US stock market's closing hours, Four.meme may not be able to buy anymore BNC, having to wait for today's US stock market opening.
If Four.meme indeed follows through with its promise to purchase BNC in the US stock market within 24 hours, it will surely bring a huge buying pressure on BNC, and the stock price of BNC at today's US stock market opening will be worth watching closely.
Compared to the scam project JINQIAN/FAMI, retail investors shorting Wall Street Version 2.0, and the flywheel of on-chain Meme coins driving up small-cap stocks, perhaps the launch really has begun with 4Stock/BNC4.
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