The biggest change in bStocks right now isn’t that the token can be bought.
And in the fact that it started being used for work.
By the end of June, only 5.5% of these tokens were borrowed against as collateral. Today it’s already 46.2%. About $3.1 million in loans against $6.8 million in collateral. Yes, the figure is small compared to the entire market. The important thing is that the stock token stops being just another line in a portfolio and becomes an instrument.
📌 Where does this work?
No, not in Binance Earn, but I hope the exchange will add such an option in the future. The collateral lives in a different place. The clearest example of a loan right now is on Lista. You deposit bStocks and can take U, USDT, or USD1 without selling the token. Among the available $NVDAB , $TSLAB , $SPCXB and dozens of others. On September 4th, Lista showed about $7.2M in collateral and $3.32M in loans. Cool? Cool!
You can also use it as collateral on Venus, as margin on Aster. On Binance, part of the tokens is accepted as collateral for margin, and with each day, there will be more such cases. What has changed in practice? Earlier there were two options: hold or sell. Now there’s a third one. Keep the stock and work with it.
📌 Risks—because without them, what’s the point?
The risk here is different from a regular hold. If the stock falls, the collateral falls too. The protocol can close the loan automatically. On Aster there’s also additional risk from the trading agreement itself. That’s why I’m not trying to squeeze the maximum out of the token. I borrow only as much as I can comfortably repay if NVIDIA decides to go down.
I keep the main position in hold. I only give it as collateral when I understand why I need this money and what will happen if the price goes down. Otherwise, it’s not a tool—it’s a debt on top of the stock.
