📰 Order Flow in Forex Trading: Definition and Importance
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https://preview.redd.it/bej50vvgviy91.png?width=1200&format=png&auto=webp&s=f431827629161aff21cb4d0f94e5cf9259aa3231

My first post on this topic about 2 weeks ago had its flair changed to speculation by the mods as there was not sufficient evidence to support my theory that tokenized "GME" shares were being used as locates for short sales in the stock market. Fair enough.
I'm labeling this one as DD and I stand by it.
https://i.redd.it/ay42izyd0t4a1.gif
---
Same as last time, here's a legend for the post;

1. Prologue
2. Tokenized Equities
   1. BIS & Tokenized Equities
   2. Project Helvetia
3. Uniswap & Liquidity Pools
4. "GME" tokens
5. Wrapping it up with FTX

---

1 - Prologue

I am fascinated by TOKENIZED STOCKS.
Quick reality check for all the immediate naysayers;
Member when we discovered the GameStop NFT landing page in May 2021? The one that evolved into the NFT marketplace?
member?
And member when we discovered a series of easter eggs that led to the hidden bananya cat game game and this message?
member?
Well the Ethereum contract listed on the official landing page was 0x13374200c29C757FDCc72F15Da98fb94f286d71e, which just happens to be one of the many "GME" tokens - Gamestop
And the solidity code for this contract has the same message from the website easter egg;
member?
And and it was minted on May 25, the same day Ryan Cohen Tweeted 'Don't Try This At Home';
And and and the contract for this token has multiple interactions, all of which oddly failed due to lack of gas, including 3 directly from Matt Finestone on Dec 2, Dec 4 and Dec 7, 2021;
tOkEnIzEd GaMeStOp ToKeNs ArE a NoThInG bUrGeR
Yeah, no, yeah, they're not a nothing burger. They're a something burger.

2 - Tokenized Equities

What the heck is even that? Well, officially;

Tokenized equity refers to the creation and issuance of digital tokens or coins that represent equity shares in a corporation or organization.
With the growing adoption of blockchain, businesses are finding it convenient to adapt to the digitized crypto-version of equity shares. Tokenized equity is emerging as a convenient way to raise capital in which a business issues shares in the form of digital assets such as crypto coins or tokens.

In theory, they offer flexibility in and better access to fundraising, decrease restrictions that may genuinely hinder some businesses and bring all other benefits of blockchain to equities like verified voting, dividends, mergers, acquisitions, etc., but like all things, people can be shitty when given the chance.
And this gives them a big chance.
IMO DEX tokenized shares would be a great idea, but what we got was CEX tokenized shares.
And CEX is for dummies.

2.1 - BIS & Tokenized Equities

In case you missed my post on the Bank for International Settlements (BIS), here is a great video again of the author, Adam LeBor, of the book The Tower of Basel, summarizing the history and the current structure of the BIS. Watch it.
He explains how the BIS is the central bank for central banks. What they say goes.
And what they're saying is that tokenized equities are meaningful and CBDCs are 100% coming.
---
The following two documents are BIS's updated global legislation on crypto assets and tokenized securities from June 2021 and June 2022, respectively;
---
Consultative Document #1 - Prudential treatment of cryptoasset exposures;
https://preview.redd.it/7vp994zuge4a1.png?width=646&format=png&auto=webp&s=05bbba2af5be07cef1c7946fff03e375bbe1f1ba
Ok firstlies, banks have limited exposure to crypto assets, yet banks face increased risks with the growth of crypto assets? Hmm.
Secondlies, it is BIS's official stance that the risks involved are;

• consumer protection
  • Protect who exactly? Protect them how? from what? They conveniently left out any elaborations. I wonder why.
• money laundering
  • Takes one to know one.
• terrorist financing
  • See above.
• carbon footprint
  • Fixed that.

What's next? Oh wait, that's all they had... Terrorists and energy consumption. Fucking L-O-L.
https://preview.redd.it/hs7q5mijhe4a1.png?width=624&format=png&auto=webp&s=65ce59cc13cd91f6ba0e7087db2e262d73ad187c
The BIS says tokenized assets must have adequate reserves. Take that, SBF.
https://preview.redd.it/p5vcblq7ur4a1.png?width=702&format=png&auto=webp&s=f746c498185d9b7008d921f891571cf4112361fb
"If you (any Central Bank) even look at anything crypto, we have legal access to your books, because fuck you, we're the BIS.."
---
Consultative Document #2 - Second consultation on the prudential treatment of cryptoasset exposures'
https://preview.redd.it/cxg0zht8wr4a1.png?width=667&format=png&auto=webp&s=621a22f81f06a9819d63176c5feb57c722f05db9
"We're still worried about being out of a job but don't want you to know we're worried about being out of a job."
"Also tokenized assets are for real for real."
https://preview.redd.it/83dgn8szxr4a1.png?width=747&format=png&auto=webp&s=f9e3f83ec3a224a2a9dab242facfc45d3630b04b
Look, there's a whole whack of legalese that, to be honest, is well above my pay grade, however the point I want to emphasize is simply that the bank of banks has been working hard to define crypto and tokenized asset definitions, exposure limits, risk calculations, etc.
If someone ever tells you these assets are just fluff, show them these documents.

2.2 - Project Helvetia

SIX? More like DIX amirite?
Project Helvetia (Latin for Switzerland) is a joint experiment by the BIS Innovation Hub (BISIH) Swiss Centre, SIX Group AG (SIX) and the Swiss National Bank (SNB), exploring the integration of tokenised assets and central bank money on the SDX platform ^{see below}
Quick recap on these 3 entities;

• BISIH identifies, in a structured and systematic way, critical trends in technology affecting central banking in different locations, and develop in-depth insights into these technologies that can be shared with the central banking community.
• SIX operates the infrastructure for the Swiss financial centre. The company provides services relating to securities transactions, the processing of financial information, payment transactions and is building a digital infrastructure. The company is owned by ~130 domestic and international financial institutions (can't find specifics?), which are also the main users of its services. (Like the FED?)
  • SIX Board of Directors, Governance, 2021 Annual Report
  • SDX **(**SIX Digital Exchange), "the world’s first fully regulated Financial Market Infrastructure offering issuance, listing, trading, settlement, servicing, and custody of digital assets"
• SNB - Swiss Central Bank

Wait a second, a lof of Switzerland happening here? Isn't that where FTX had its custodian CM-Equity AG "hold" it's "stock reserves" for its tokenized stocks?...
u/tjoma90 I would love to know your thoughts. Post for reference.
---
I won't go into the all of the details because that's not what I want to focus on (totally not because I don't understand it...), but the TL,DRS is that BIS, SIX and SNB have conspired cOlLaBoRaTeD to create a private, permissioned, peer-to-peer blockchain for central banks with hierarchical access to the ledger and SDX as the central authority.
https://preview.redd.it/66prae3lgd4a1.png?width=399&format=png&auto=webp&s=ad881ce76d91cc907356903e5383c8ecded13115
Yeah, this is going to be fine. PAUSE NOT!
https://preview.redd.it/opj0yah9cd4a1.png?width=469&format=png&auto=webp&s=0cffdbcbf327d4da1070f0f99269d8fa6d1e0931
https://preview.redd.it/8lfqhp36nd4a1.png?width=541&format=png&auto=webp&s=6e801c472942ee62b7769dc902cadf5b9cb985b4
There you have it folks. Don't ever let someone tell you that CBDCs aren't coming or tokenized assets are meaningless. Here you have the tippy top of the pyramid of modern global financial institutions discussing the topics, and how they already went live with part of their intervention solution to stay modern back in November 2021.
\"we need to change the laws to allow CBDCs\"
\"we need to change the laws to allow CBDCs\"
Aside from the mechanics of their proposals, let's look at the language they use in the following legal sections;
\"CBDCs won't be bad at all!\"
\"we will need a global effort to change all the laws to allow CBDCs\"
They want CBDCs, badly.
Why? IMO they saw the writing on the wall. "Join or die" is ever prevalent in this transition away from fiat currency to cryptocurrency, and CBDCs are a last-ditch effort to "compromise". Well, tough luck asshats, you're trying to offer better horse-drawn carriages when Henry Ford has already showcased his automobile - the Ford Broncass.
No thanks. I'll take the car.

3 - Uniswap Liquidity Pools

Before we hop into the matter at hand, we need to review what Uniswap is. The mechanics are not overly important but you'll see why this is relevant in section 4. If you know what Uniswap is or don't care about its mechanics, skip ahead.
---
Uniswap is a decentralized cryptocurrency exchange (DEX) that facilitates automated and permissionless transactions of ERC20 tokens through the use of smart contracts.
It's like a currency exchange booth at an airport except it's decentralized and you exchange Ethereum tokens on the blockchain rather than cash, and you pay a very small fee (~0.3%). Meaning if you wanted to exchange $1,000 of XYZ token, it would cost you around $3. All automatic, trustless and guaranteed by math.
Traditional exchanges price assets based on the order book model, where all bid and ask prices are recorded and once there's a match, a trade is conducted. In this model, liquidity is determined by the amount of offers on both sides of a trade and the price of the assets is based off of the most recent trade.
Uniswap prices assets differently. Rather than having the last trade determine the price of an asset, a deterministic mathematical formula is used, called an Automated Market Maker (AMM). Assets stay in liquidity pools, which are a shared pool of assets deposited by liquidity providers (LPs). Why would you want to become an LP? Pretty simple - because you can collect fees. Anyone can create a liquidity pool or become an LP.
More specifically, Uniswap uses an AMM called Constant Product Market Maker Model, which is represented as "X*Y=K". This can get quite complicated but in a nutshell this means that any one specific liquidity pool has a constant ratio of assets, K, comprised of a pair of two tokens, X and Y. K is called the constant because the amounts of X multiplied by Y is always the same.
If X is purchased from the pool, there is a lower supply making it more valuable, so the price goes up (within that liquidity pool).
https://preview.redd.it/h7mi67891t4a1.jpg?width=1400&format=pjpg&auto=webp&s=af9d78987d34177f29b1014ba2acad03f0071d38
For example, let's say I want to make a liquidity pool with 100 apples and 10,000 oranges, so people who have either can exchange for the other, in this instance at a ratio of 1:100. Using the AMM model the constant K would be 1,000,000 (100*10k). If person A buys 10 apples, there are only 90 left in the pool. Our constant has to stay at 1,000,000, so the cost for this transaction will be 11,111.11 oranges (X/K*Y). This means person A would need to deposit 11,111.11 oranges to buy 10 apples.
Ok yes yes yes math, but why do we do this? Well, it's because the price of assets in liquidity pools are determined by how much you want to buy, not by how much someone else wants to get for it. This keeps liquidity in the system without the need for external market makers regardless of the order size or amount of liquidity. If someone uses your assets to trade 10 times a day, that's a direct peer-to-peer, permissionless and taxless 3% ROI per day, 9% per month, 108% per year, etc. Not bad.
This model makes it infinitely expensive to consume the whole amount of a certain token because algebra. If someone buys most of the apples, the contract just makes the next person pay more oranges for the amount of apples they want. This happens until someone wants to trade a bunch of oranges for apples and balance is restored.
There have been 3 different formulas that Uniswap has used;
V1 Formula (Nov 2018) - Trading of ETH to ERC20 tokens only
V2 Formula (May 2020) - Trading of ERC20 to ERC20 tokens added
V3 Formula (May 2021) - Adjustments to the math to incentivize providing liquidity

4 - "GME" tokens

From my previous post I thought there were only a handful of GameStop-related tokens. Well, I found a few more, as well as a buttload of sequential "GME" liquidity pools from Uniswap...

Token Name	Supply	Uniswap Liquidity Pool	LP Contract Creation
Gamestop	0
GameStop Token	100,500	Uniswap V2: GME	Jan 26, 2021
Wrapped GameStop	10,000,000	Uniswap V2: GME 2	Jan 26, 2021
GameStop	20,000,000	Uniswap V2: GME 3	Jan 27, 2021
		Uniswap V2: GME 4	Jan 27, 2021
GAME-STOP	61,500,000	Uniswap V2: GME 5	Jan 28, 2021
GameStonk	21,212,121	Uniswap V2: GME 6	Jan 28, 2021
		Uniswap V2: GME 7	Jan 29, 2021
GameStop.Finance	1,000,000	Uniswap V2: GME 8	Jan 29, 2021
		Uniswap V2: GME 9	Jan 31, 2021
		Uniswap V2: GME 10	May 12, 2021
Gamestop NFT	1,000,000,000,000	Uniswap V2: GME 11	May 25, 2021
		Uniswap V2: GME 12	May 25, 2021
		Uniswap V2: GME 13	May 26, 2021
Gamestop NFT	1,000,000,000,000,000	Uniswap V2: GME 14	May 26, 2021
GameStop	69,420,000	Uniswap V3: GME 2	July 3, 2021
GME Coin	12,000,000	Uniswap V3: GME 3	July 10, 2021
Gamestop Inu	1,000,000	Uniswap V2: GME 19	Sept 29, 2022
		Uniswap V2: GME 20	Sept 29, 2022
GAMESTONK	1,000,000,000,000	Uniswap V2: GME 21	Oct 2, 2022
GME Token	1,000,000,000,000,000	Uniswap V2: GME 23	Nov 6, 2022

Fun facts:

• Every one of these swaps involve Wrapped Ethereum because Eth is not an ERC20 token and Uniswap only deals with this standard.
• Gamestop, the token and contract listed on the official GameStop NFT parking page currently holds 69,420.69 GameStop (~0.1% of the supply) and 6M GME Coin (50% of the supply)
• Uniswap V2:GME 7 was ENS registered as "GameStop: Delpoyer" on Jan 27, and sent 500k of GameStop.Finance tokens to a contract called PostBootstrapRewardsDistributor
• Liquidity pool Uniswap V2: GME 23 holds 438 million % of the supply of GME Token
• The Uniswap icon and ticker is the same on all of the above tokens

5 - Wrapping it up with FTX

Ok ok ok, let me onceuponawrapitup for you.
On Jan 26, 2021, FTX minted 10M Wrapped Gamestop tokens, depositing 2.5M tokens each to 4 addresses; FTX Exchange, FTX Exchange 2, Serum Deployer... and a 4th address... whose first order of business was to DEPOSIT THESE ('add liquidity') INTO THE UNISWAP LIQUIDITY POOL FOR THIS TOKEN.
The following day, Jan 27, 2021, SBF himself released the "official" "tokenized GME" on the FTX platform, product "GME-0326".
The same product that recently (pre-bankruptcy) had a discrepency between the token price and share price.
The same product that was possibly used as locates under DTCC eligibility of hybrid securities.
The same product that can be used by JP Morgan for collateral.
The same product that was included in the W5B-1230 FTX futures contract that increased linearly from $795 to $52.6k a few weeks ago (outlined in my first post section 4, ^{the screenshots of which look to be scrubbed? oh well hehe, I still have them saved hehe} ).
^{Also, all FTX webpages now conveniently redirect to legal filings due to the bankruptcy, not surprising, but what's odd is even the multiple confirmed screenshots saved on the wayback machine for this FTX webpage won't load...}
Anyways, another point, "wrapping" a coin allows it to be used on a non-native blockchain. Wrapping a token is essentially swapping one token for another token in an equal amount via a smart contract, or code on the blockchain that can store and send funds.
Why is that relevant? Because I can't find anything regarding GameStop on Serum/Solana/Synthetix/Kwenta, where the original Wrapped Gamestop token was minted, or even in the ERC20 contract on Etherscan, suggesting there is actually nothing "wrapped" about this token, it's not an actual wrapped token, it just has the name "wrapped" to have the appearance of being legitimate, and in addition to the intentionally complicated systems, cross-blockchain transfers, multiple Uniswap liquidity pools and more, is all likely just to obfuscate the data.
---
And going back to a specific section from document #1 in section 2a real quick (banking exposure to cryptoassets);
https://preview.redd.it/9hqoctdbtr4a1.png?width=710&format=png&auto=webp&s=4cd82803df81977fd84ad4859731086e2ec7241f
Wait wait wait, "redeemers" (holders) of cryptoassets (GME tokens?) backed by traditional assets (GME shares?) held in a bankruptcy vehicle (FTX?) have zero credit risk exposure due to that bankruptcy? Wow. How convenient.
tOkEnIzEd StOcKs ArE a NoThInG bUrGeR
Yeah, no, yeah, they're not a nothing burger. They're a something burger.
---
I probably need one more brief post following the specific transactions to link the tokens to each other, but the teaser for that is that the most recent token has 1 quadrillion tokens in circulation, yet the uniswap liquidity pool for this token has 4.383 sextillion tokens in it.
That is 4,383,561,655,088,940,000,000 tokens.
That's a lot of fucking tokens.
Stay tuned.