Hi everyone,
I'd really appreciate some feedback on something we're building on Ethereum. This is pretty much my first time doing this, but my co-founder is way more experienced, he's been a Web3 engineer for a long time.
You probably know there are already some projects putting public stocks on-chain as RWAs. What we're trying to do is a bit different: bring the actual chain of custody on-chain for those shares. The issue with normal shares is they're totally fungible so you have zero clue who owned it before you. We want to track that history to unlock some "cultural premium" value as an RWA. Kind of like NFTs but for real shares.
For example imagine proving your TSLA share was once held by Elon Musk. That kind of story probably makes it worth more to some people.
To make it work we take verified shares (held in proper custody) and wrap them as provenance-wrapped shares on Ethereum smart contracts, using something like ERC-1155 for semi-fungible units, and record the full ownership chain in metadata or on-chain events.
We're still in the middle of building, no live contracts or actual trading yet. Just trying to get real opinions early and figure if we're onto something or is this just dumb as hell.
It would mean a lot to hear what Ethereum people think:
- Does provenance tracking for equities as RWAs actually sound useful/valuable, or is it kind of a gimmick?
You can check out the demo to see how we're thinking about it in practice: https://provenantx.com
Thanks a ton for any thoughts!
Appreciate feedback on provenance tracking for shares as RWAs on Ethereum
byu/DollarBallers inethereum
Posted by DollarBallers