NFT身价升至13 ETH，StonkBrokers又要开张发射台

Original author: KarenZ, Foresight News

Just one month ago, 4,444 StonkBrokers pixel brokers made their on-chain debut. Now, the price of a single NFT has reached 13 ETH.

If you take the 13 ETH floor price and multiply it by the total supply of 4,444, the entire NFT collection's "floor valuation" is roughly equivalent to over $100 million. However, this is not the actual market capitalization, as this calculation assumes all NFTs can be sold at the current floor price. It is more suitable for gauging market sentiment than measuring the real value that can be liquidated.

The STONKBROKER token, which belongs to the same product ecosystem as the NFT, is also rising. According to GMGN data, its valuation once approached $100 million.

What the market is pricing in now goes beyond just 4,444 pixel avatars; it also includes the next layer of products StonkBrokers is trying to build — the token launchpad Stonk Launcher and the trading protocol.

StonkBrokers' Next Stop: Stonk Launcher

In an article dated July 21st titled "Can NFTs Also Earn Stock Tokens? What Exactly is StonkBrokers?", I explained that StonkBrokers is a suite of NFT, token, and DeFi products launched by Clutch Markets on Robinhood Chain. Its core assets include the StonkBroker NFT with a total supply of 4,444, and the transferable and tradable ERC-20 token STONKBROKER.

Each StonkBroker NFT is linked to an ERC-6551 Token-Bound Account. In simple terms, this NFT comes with its own on-chain wallet, capable of holding stock tokens and other on-chain assets. When ownership of the NFT is transferred, the bound account remains at the original address, but control of the account is handed over to the new NFT holder.

Upon initial minting, the NFT receives a one-time injection of stock tokens. Subsequently, holders can also pay STONKBROKER to activate the NFT and participate in Clock In rewards distributed based on tier weights. The entire process can be simplified as:

Trading the NFT on Anvil generates ETH fees → 70% of the fees go to StockBooster → Community users call Clock In → ETH is swapped for stock tokens → Stock tokens enter the bound account of activated NFTs.

StonkBrokers initially aimed to solve the question: Can an NFT come with its own wallet, receive token rewards, and further integrate into trading and lending markets? The upcoming Stonk Launcher attempts to expand this system into a token issuance and liquidity infrastructure for other projects.

How Does Stonk Launcher Operate?

According to the project page, Stonk Launcher will open at 8:00 PM ET on August 11th, corresponding to 8:00 AM Beijing time on August 12th.

Stonk Launcher is essentially a token launchpad on Robinhood Chain, allowing creators to deploy ERC-20 tokens and configure their sales mechanisms. Current documentation lists three primary issuance models:

• Fixed Price: Tokens are sold at a pre-set price during the sales phase.
• Bonding Curve: Token prices follow bonding curve rules, changing based on buys, sells, and the curve's state.
• Custom Issuance: Creators can further adjust parameters like token supply and token allocations.

Creating an issuance requires a fee of 0.00042069 ETH. Tokens can choose to be paired with ETH, STONKBROKER, or Robinhood stock tokens.

The project documentation sets the default "graduation" threshold at 4 units of the paired asset. However, this number doesn't necessarily equal 4 ETH: if the issuance chooses a different pairing asset, the threshold will be denominated in that respective asset, and specific parameters might also be adjustable in custom issuances.

The complete flow of Stonk Launcher can be summarized as:

Create an ERC-20 token and set sales parameters → Users purchase during the sales period → Conditions are met → Issuance enters the Finalize phase → Creation of Uniswap V3 liquidity pool, LP position, fee distribution contract, and token staking vault.

Each token that completes its issuance will also have its own staking vault. According to the project's current design, token holders can deposit the respective tokens into the vault and share LP fees imported by the fee distribution contract based on their proportional contribution. However, public information doesn't yet list the specific allocation percentages of all fees, and actual income depends on trading volume, liquidity size, and LP position performance. It should not be interpreted as fixed income.

Stonk Launcher also plans to connect with the yet-to-be-launched Stonk Exchange. Tokens that have completed issuance can apply or proceed to trade on this vDEX. Stonk Exchange is currently scheduled to open at 8:00 PM ET on August 29th, primarily utilizing the Uniswap V3 architecture, with STONKBROKER holders participating in deciding the flow of some fees and liquidity incentives.

Just before the official opening of Stonk Launcher, on August 11th, Clutch Markets introduced up, the native (3,3) trading and liquidity layer on Robinhood Chain, and listed it as its latest "Special Projects" partner. According to the plan announced by both parties on August 11th, up will provide trading and liquidity infrastructure for Stonk Launcher and Stonk Exchange; tokens that complete issuance via Launcher will default to entering up's liquidity pools and be tradeable on the StonkBrokers frontend.

Opening Bell: Recycling Some Trading Fees Back into the Market

The most distinctive design of Stonk Launcher is the Opening Bell Buybacks, a random market purchase mechanism driven by bonding curve trading fees.

According to the project documentation, each bonding curve trade pays a Launcher fee, a portion of which goes into an on-chain fund pool called the Buyback Bar. Once the pool meets certain conditions, the project uses a VRNG random mechanism to determine two outcomes: when an Opening Bell can be triggered, and which token still in its bonding curve phase will be bought.

However, Opening Bell only applies to tokens that have adopted the bonding curve model and have not yet graduated. Projects that have already entered their Uniswap V3 liquidity pool, as well as tokens using fixed price or other issuance models, are excluded from this random selection.

The probability of different tokens being selected is related to their contribution to the Buyback Bar fees. The more active a token's trading and the more fees it contributes, the theoretically higher its selection weight. However, every curve token still in operation has a chance of being selected.

When the Opening Bell becomes triggerable, any user can pay the Gas cost to call Clock In. The protocol will use the assets in the pool to perform a one-time purchase of the selected token on the bonding curve, and the trigger gets a tip reward for their action.

This design attempts to redirect a portion of trading fees back into the Launcher's token market, rather than letting all fees flow out of the issuance system entirely. However, this so-called "buyback" does not represent a project commitment to support the token price: funds are only used for market purchases when conditions are met and after random selection. It's neither a fixed-frequency buyback nor equal support for all tokens.

Current documentation also doesn't disclose what percentage of each bonding curve trade goes into the Buyback Bar. Therefore, whether Opening Bell can create a sustainable impactful buying volume remains dependent on the final contract parameters and the actual trading volume of the Launcher.

After DERP and MANCER, Who's Next?

Although Stonk Launcher isn't yet open to the public, its page already showcases two projects: DERP and MANCER. This is because both are listed as StonkBrokers' "Special Projects," meaning they are independently incubated collaborations pre-integrated into the ecosystem.

The project page explicitly notes that DERP and MANCER are each independently developed and operated by their respective teams, have their own independent tokens, and carry independent risks. They should not be considered proprietary products of Clutch Markets.

DERP corresponds to a product called StonkPit. It's an on-chain "mining" system that connects StonkBroker NFTs, PitBoy NFTs (which cross over from ApeChain via LayerZero as MineBoy), and browser-based Proof-of-Work, incorporating on-chain entropy and Verifiable Random Number Generation (VRNG).

Unlike standard token mining, DERP isn't just a reward token; it's designed as an economic tool underpinning an on-chain randomness service.

After users activate their StonkBrokers or PitBoy NFTs, they can perform SHA-256 hash calculations in their browser and submit proofs; once the contract verifies the valid proof, participants earn DERP, and the corresponding results are fed into The Ticker's public entropy system. The Conductor handles entropy requests from external applications and provides the generated random results to on-chain games or other contracts requiring random numbers.

Therefore, DERP isn't just a computational reward; it's designed as an economic tool connecting the mining ecosystem, entropy demand, and random number services. The project has two mining zones: StonkBrokers participate in the Green Zone, and bridged PitBoys participate in the Blue Zone. DERP has a maximum supply of 4.444 billion, with 75% allocated to the Green Zone, 15% to the Blue Zone, and the remainder used for partners, liquidity, gaming funds, etc.

MANCER, on the other hand, encompasses the Mancer trading protocol, the MANCER token, and Chain Mancers NFTs. According to the Mancer whitepaper, the team plans to build a decentralized exchange protocol on Robinhood Chain supporting token swaps, limit orders, and recurring buys. Users don't need to deposit all their funds into the protocol's vault when placing an order; instead, they sign an EIP-712 order. Funds remain in the user's own wallet, and only when the order is actually filled does the settlement contract withdraw the assets needed for that specific trade.

Mancer also plans a total supply of 5,000 Chain Mancers NFTs, with a current floor price of 1.3 ETH. According to the whitepaper design, in the initial phase, Mancer will be handled by permissioned executors. Each trade will incur a protocol fee of 10 basis points (0.1%), with 5 basis points (0.05%) paid to the executor as a tip. If a Keeper network launches in the future, activated Chain Mancers can qualify for order execution: Keepers who complete fills receive a 5 basis point execution tip, and the 10 basis point protocol fee is planned to be converted and distributed to activated NFTs.

Beyond DERP and MANCER, Clock In is another project that has been publicly confirmed to launch via Stonk Launcher.

Clock In defines itself as a "theme token" derived from the StonkBrokers community culture, while emphasizing its status as an independent, community-operated brand. The project plans to create trading pools for CLOCKIN paired with ETH, STONKBROKER, APE, and stock tokens like TSLA, NFLX, and AMZN.

CLOCKIN itself has no token trading tax. Its economic mechanism relies primarily on fees generated by the project's permanently locked LP positions. According to the project's announced plan, of the relevant LP fees, 20% is planned for distribution to participating StockBooster brokers, 20% for future development, and 60% for buying back and burning CLOCKIN on the open market.

Furthermore, CLOCKIN plans to reserve 2% of its total supply, equating to 20 million tokens, to reward activated StonkBroker NFTs across four rounds. These four rounds correspond to CLOCKIN's market cap reaching and sustaining $1 million, $3 million, $5 million, and $7 million respectively, with 5 million tokens allocated per round. Except for the first round, subsequent rewards also require holders to maintain a certain amount of CLOCKIN per participating NFT.

TickerYard needs to be considered separately. Its technical design documents do not explicitly state that YARD will be issued through Stonk Launcher. Instead, it plans to use Anvil to build a marketplace consisting of 3,333 Yardkeeper NFTs and the YARD token.

TickerYard aims to create a cross-chain asset routing interface: users specify the original asset, target network, and desired asset, and the system finds viable paths from external cross-chain protocols and liquidity channels, displaying fees, time, and security assumptions. The project has tokenized stocks as its first key focus, and also proposes a scheme to lock qualifying assets in their native network via canonical vaults, creating corresponding asset representations on other supported networks.

The Yardkeeper NFT is designed as a transferable protocol participation seat. Current holders can only qualify for specific protocol task participation if they reach a designated Anvil activation level, complete Keeper Enrollment, and bind a local Runner.

Summary

StonkBrokers is attempting a product boundary expansion: moving from a set of NFTs with built-in wallets, capable of receiving "stock token rewards," towards a product ecosystem encompassing token issuance, ecosystem incubation, and trading protocols.

If Stonk Launcher delivers as planned, the utility of STONKBROKER will also extend beyond NFT redemption and activation, reaching into token pairing, platform curation, and the future vDEX ecosystem. However, until the product is truly live and operational for a period, all judgments about trading volume, fee revenue, and the ecosystem flywheel remain theoretical.

Meanwhile, the Robinhood Chain ecosystem is still in its early stages. StonkBrokers NFTs, STONKBROKER, and tokens created via Launcher could all face risks such as insufficient liquidity, extreme price volatility, and smart contract vulnerabilities. Collaborative projects like DERP, MANCER, and CLOCKIN are operated by independent teams, and StonkBrokers' showcase or incubation relationship does not constitute a guarantee of their security, liquidity, or token value. Participants still need to verify project information themselves and carefully assess the risks.