BONER Meme Coin Swallows Half of Tokenized HIMS Stock on Robinhood Chain
The Defiant reported that the meme coin BONER on Robinhood Chain has absorbed over half of the tokenized HIMS stock. As of Monday at 17:12 UTC, a total of 58,714 tokenized HIMS were issued on the chain, with 31,198 (53%) locked in the BONER/HIMS liquidity pool and another 1,424 scattered across eight other meme coin pools. Only 20,303 remain in the HIMS/stablecoin and HIMS/ETH ($2,469.95 · Live) pools for price discovery.
Due to the lack of real-time stock prices over the weekend and weak liquidity, the token experienced wild fluctuations: it briefly surged to $132.64 on Sunday 22:00, while the underlying HIMS stock closed at $28.84 on Friday. After the NYSE reopened on Monday, new tokens were minted at a premium, causing the price to drop back down to around $29.
Compared to the same type of HIMS tokenized by Ondo Finance, with 10 million issued and a market value of $30 million, the BONER/HIMS token is significantly smaller, with only 18 times the liquidity on Robinhood Chain. The platform's TVL reached $72.74 billion on Monday.