Crypto KOL: Successfully minted BNC4 via Four.meme at after-hours price, arbitraging $230,000

BlockBeats News, September 8th, crypto KOL 0xShawn (@ShawnThread) stated that he successfully minted BNC4 through the Four.meme platform at the US stock after-hours market price, thereby arbitraging $230,000.

According to the Four.meme platform's 4Stock mechanism and official documentation, 0xShawn's arbitrage process mainly involves the following: Shawn sent USDC to the minting address designated by Four.meme and submitted an application. The platform processed the application, used the funds to purchase real BNC shares (CEA Industries), and then minted BNC4 tokens at a 1:1 ratio based on the actual quantity purchased, sending them to him.

After receiving the BNC4 tokens, Shawn immediately sold them on BNB Chain. At that time, BNC4 on-chain was being traded at 7-8 times the price of the underlying stock (the underlying stock was slightly above $4 in after-hours trading, while BNC4 once reached over $30), thereby realizing the arbitrage.