Turning Russian stocks into virtual assets to help Ukraine
- Ukrainian refugees lose their financial and property rights.
- Morpher’s Arena puts the power back in the hands of individuals, giving them back ownership of their finances, starting with sanctioned Russian stocks.
- Morpher aims to donate all revenue generated to humanitarian organizations providing relief to Ukraine.
The sanctions imposed by Ukraine-Russia, while justified, continue to torment innocent people. Morpher aids Ukrainian refugees and raises awareness about the loss of property rights of ordinary citizens on both sides. Morpher Arena allows its users to trade virtual copies of Russian stocks, and all revenue it generates goes to organizations supporting Ukrainian refugees.
Virtual copies of markets such as stocks, commodities and currencies can be created. The protocol observes the price of globally traded assets in real time and then replicates the economics of holding that asset on the blockchain. Anything that comes with a real-time data feed can become a market on Morpher. The underlying stock is never actually traded, allowing investors to bet on assets without having to own them.
The protocol does not need direct market access and does not benefit shareholders of the underlying assets. The platform is designed for speculation and will be accessible 24/7. Virtual shares can be sold short and are liquid, with no need to match buyers and sellers. Arena gives power back to individuals by giving them autonomy over their finances.
Since Arena runs permissionless on the Polygon blockchain, anyone with a crypto wallet can join. Morpher Arena users compete in a zero-sum game. Users deposit USDC into a smart contract and in return own a portion of the total staking pool. Users then select a stock they want to bet on. Their participation in the pool increases or decreases with the share price. Those with the best predictions of market performance earn a higher stake in the pool.
Morpher aims to democratize finance through its Arena platform. The company will donate all revenue generated to humanitarian organizations providing aid to Ukraine, such as Save the Children and other similar groups.