NFTでも株トークンが稼げる？StonkBrokersとは何か？

Original Author: KarenZ, Foresight News

Once most NFTs are bought and held in a wallet, their primary function is to "sit idle."

StonkBrokers, however, has assigned an on-chain job to 4,444 pixel brokers: each NFT comes with its own wallet capable of receiving stock tokens; holders can activate it using the project's token to increase reward weight, or pledge it as collateral for loans. Building on these NFTs and the related token STONKBROKER, CLUTCH is also planning a token launch and a decentralized exchange product.

The market has shown considerable enthusiasm for this design. According to GMGN data, the market cap of the StonkBrokers token STONKBROKER once exceeded $15 million, with a 24-hour increase of over 300%. It surged more than 14 times in the past two days, and its current market cap is fluctuating around $10 million. OpenSea data indicates that the floor price of StonkBrokers NFTs has also risen to 1.63 ETH.

StonkBrokers NFT trading volume and price, Source: OpenSea

Who is CLUTCH, and what is StonkBrokers?

CLUTCH, more fully known as Clutch Labs, is an independent Web3 development team focused on on-chain market infrastructure. Its public products span areas such as prediction markets, NFT liquidity protocols, perpetual contracts, on-chain games, and AI Agents.

The CLUTCH website lists OxSimpleFarmer as a project builder, and his X account describes himself as the founder of Clutch Markets.

CLUTCH did not start developing products with StonkBrokers. According to its project timeline, the team began with an on-chain parlay prediction market. They subsequently launched prediction markets, Clutch Puppies, Pixel Pups, an NFT marketplace, and the Anvil NFT AMM on networks like Arbitrum, ApeChain, and Ethereum.

StonkBrokers can be understood as CLUTCH's combinatorial attempt, applying its previous experience with NFTs, AMMs, and DeFi after moving to the Robinhood Chain.

The project was initially developed as an experimental concept on the Robinhood Chain testnet for the Arbitrum Buildathon. OxSimpleFarmer mentioned that this test version was showcased by the Robinhood Chain team at the event. Approximately seven months later, the project launched on the Robinhood Chain mainnet on July 17, 2026, completing the minting of 4,444 NFTs.

The mainnet launch of StonkBrokers was termed a "free mint" by the project. However, "free" here only refers to the minting price of the NFT being 0, not that all participants could obtain the NFT at zero cost. Users needed to burn either the Pup Cup NFT on Ethereum or the Clutch Puppies NFT on ApeChain before the deadline to receive a corresponding minting spot for StonkBrokers; one old NFT corresponded to one spot. This channel is now closed, and all 4,444 StonkBrokers have been minted. To acquire an NFT now, one must purchase it through the Anvil AMM or secondary markets.

How are NFTs, Bound Accounts, and the STONKBROKER Token Connected?

Each StonkBroker NFT is associated with an ERC-6551 Token-Bound Account (TBA).

In simple terms, the NFT is not just an image in a wallet; it possesses its own on-chain account. This account can hold ERC-20 tokens or other on-chain assets, and control of the account follows NFT ownership: whoever owns the NFT controls its bound wallet.

Upon minting, the NFT receives an initial allocation of stock tokens, and subsequent stock token rewards are also deposited directly into its corresponding bound account. If a StonkBroker's bound account holds stock tokens, these assets will transfer together with the NFT to a new holder.

The StonkBroker NFT is a non-fungible ERC-721 asset with a total supply of 4,444. STONKBROKER is an ERC-20 token that can be freely split and transferred. They are connected via CLUTCH's Anvil NFT AMM.

The protocol sets a base exchange unit of 666,666 STONKBROKER per NFT. Users can pay 666,666 STONKBROKER plus a transaction fee paid in ETH to the Anvil vault to exchange for the next available NFT in the vault. If a user wants a specific ID, they can use the "snipe" feature to select a particular NFT (with a higher ETH fee). The project's current documentation lists the ETH transaction fee as 10% for standard swaps and 15% for snipe swaps. Users should always refer to the actual transaction page and contract calls for final parameters.

This structure can, to some extent, address the liquidity issues of certain NFTs. Traditional NFT trading depends on buyers and sellers placing orders. If there are no immediate buyers for an NFT, the holder may find it difficult to exit. Anvil establishes a protocol-level swap channel between the NFT and its series' ERC-20 token.

It is important to note that "each NFT corresponds to 666,666 tokens" should not be misinterpreted as a risk-free price guarantee. Both the NFT and STONKBROKER will fluctuate with market trading. The actual value paid or received by the user is also affected by the token price, ETH fees, vault inventory, and protocol parameters.

Furthermore, Anvil provides a protocol-level swap channel with a 10%/15% ETH fee. While this is better than having no liquidity at all, it is not a low-cost, high-efficiency liquidity solution.

From Activation to Clock In: How are Stock Token Rewards Generated?

However, the initial stock token allocation and subsequent rewards are two separate mechanisms. Subsequent stock token rewards, funded by Anvil transaction fees, are distributed only to StonkBrokers that have been activated, weighted according to their activation level.

Simply holding a StonkBroker does not guarantee automatic eligibility for subsequent stock token rewards. Holders must first activate their NFT on the project's page using STONKBROKER tokens to be added to the reward distribution system.

The current StonkBrokers documentation sets five activation levels. The base level requires 66,666 STONKBROKER, and the highest level requires 1,666,666 STONKBROKER, with corresponding reward multipliers increasing from 1x to approximately 3.33x.

According to current contract parameters, the StonkBroker activation fee is split 50% to burned and 50% to the protocol. When the actual ownership of an NFT is transferred, the existing activation status is cleared, and the new holder must re-activate it. However, any stock tokens already deposited into the bound account are not cleared.

Funding for stock token rewards currently comes primarily from Anvil's ETH transaction fees. According to current documentation, 70% of these fees go to the StockBooster, and 30% to the protocol. When the StockBooster accumulates to a set condition, any user can call the 'Clock In' function (paying only gas fees). This triggers the protocol to swap the accumulated ETH for the currently configured stock tokens, which are then distributed to the bound wallets of activated NFTs according to their activation weight.

The entire process can be simplified as:

Trading NFTs on Anvil generates ETH fees → 70% of fees go to StockBooster → Community user calls Clock In → ETH is swapped for stock tokens → Stock tokens are distributed to the bound accounts of activated NFTs.

From NFT Lending to Launcher and vDEX

Building on this foundation, StonkBrokers also offers an NFT collateralized lending feature. Holders can lock their NFT into a Loan Vault to borrow a principal amount denominated in STONKBROKER. The documentation lists the base principal as 666,666 STONKBROKER. The borrowing fee is paid upfront in ETH and is calculated based on the loan duration, an annualized rate of 15%, and the ETH market value of the NFT.

Borrowing fees are also distributed with 70% going to the StockBooster and 30% to the protocol. The borrower can retrieve their NFT by returning the agreed amount of STONKBROKER. If the loan is overdue, additional ETH fees apply, and persistent default may result in the loss of the collateralized NFT.

Furthermore, StonkBrokers plans to launch the Stonk Launcher and Stonk Exchange on July 30.

The launch platform supports issuance configurations for fixed prices, bonding curves, and custom emissions. According to the project's design, this step will automatically create LP positions, fee distribution contracts, and a staking vault for the new token. Token holders can deposit the newly issued tokens into the staking vault and share the corresponding LP fees proportionally.

The project describes Stonk Launcher as an issuance platform co-governed by STONKBROKER holders and activated StonkBroker NFT holders, with shared fee streams. A portion of the fees and royalties generated by the Launcher are planned to support stock token rewards. The specific distribution ratios and execution methods need to be confirmed with the officially deployed mainnet contracts.

Alongside the Launcher, Stonk Exchange is scheduled to go live at 8:00 PM EST on August 29 (morning of August 30 in Beijing time). The project refers to it as a "Vote Directed DEX" or vDEX, meaning a DEX where transaction fee allocation can be determined by voting.

At the basic trading layer, Stonk Exchange plans to adopt the Uniswap V3 architecture. Users will be able to perform token swaps, create concentrated liquidity pools, and deploy capital within custom price ranges. Unlike traditional AMMs that spread liquidity evenly across the entire price curve, Uniswap V3 liquidity providers can concentrate their capital in price ranges where they expect more trading activity to improve capital efficiency. However, if the price moves outside the chosen range, the LP position may stop earning trading fees and face risks such as impermanent loss.

The project documentation plans three tiers of trading fees: 0.05% mainly for relatively stable trading pairs, 0.3% for standard pairs, and 1% for less liquid or more volatile assets. STONKBROKER is planned as a governance tool, allowing holders to vote on the allocation of certain fees, for instance, which liquidity pools or ecosystem incentive programs receive support.

It is important to distinguish that current available information does not confirm that trading fees from Stonk Exchange will be automatically directed to the StockBooster or the stock token reward system. What is currently confirmed is that the allocation of these fees will be determined by the STONKBROKER governance mechanism. Whether they will be used for stock token rewards depends on the final contract design and governance decisions at that time.

Summary

The most noteworthy aspect of StonkBrokers may not be "how much ETH an NFT has risen to" or "how high the token's market cap has gone," but rather its attempt to answer a long-standing question plaguing the NFT market: can an NFT become a truly functional on-chain account capable of sustaining ongoing relationships with trading, lending, and RWA, beyond just a profile picture and community identity?

CLUTCH has deployed some mechanisms to the mainnet, but subsequent modules like Stonk Launcher and Stonk Exchange still need to be delivered. Whether StonkBrokers can ultimately form a sustainable on-chain financial system, or simply remain a noteworthy product experiment during a period of high volatility, will depend on real protocol revenue, the successful delivery of subsequent products, and more thorough security validation.

Concurrently, the Robinhood Chain ecosystem is still in its early stages. Network activity, asset liquidity, and infrastructure maturity all require further observation. StonkBrokers faces uncertainties including smart contract security, team delivery capabilities, governance parameter adjustments, and regulatory policy changes. The NFTs, STONKBROKER token, and related stock tokens may all experience significant price volatility. The project's mentioned stock token rewards should not be equated with stable returns or traditional stock dividends. Participants need to fully assess the associated risks.