Wonder how many people are leveraging their crypto for IPO plays given how easy it is to do w/ Robinhood now...
Example with the upcoming Figma IPO:
- Hold ETH or BTC on-chain or in ETFs/brokerage (ETHA or IBIT)
- Borrow against it: Aave (~5.5% USDC) or RH margin (4.7-5.45%)
- Deposit USDC to RH, convert to USD fee-free, request $FIG allocation
Risk obviously depends on your LTV - but this is exactly the type of leverage play that used to be reserved for institutions.
Also curious as to whether RH users actually get meaningfully filled for $FIG allocation
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