How Morpher Arena is Supporting Ukraine With Stock Trading

Ever since the Ukraine-Russia conflict began in early 2022, there have been concerted efforts from the rest of the world to support Ukraine. These have included fundraisers, sanctions against Russia itself, and so on. Many ordinary people have also wondered how they can help the situation. 

Now, an American and Austrian startup called Morpher has announced a new initiative that will offer everyday people a chance to support Ukraine by betting on Russian stocks. 

Buy to Help Out

While this might seem odd at first, Morpher Arena has put a very unique system in place. Using Morpher’s special blockchain protocol, users can buy copies of sanctioned Russian stocks. While buying these stocks, they can bet against them and make a profit while fighting against Russia. 

How this works is that the protocol creates virtual copies of the Russian stocks and replicates the outcomes of holding those stocks. As such, the actions taken on Morpher Arena will not actually hurt the shareholders. 

To play, users need to deposit USDC unto the platform, which earns them a place in the staking pool. Those who make the best predictions will be given a bigger part of the prize pool and 0.03% of the pool is then donated to organizations that help Ukrainian refugees. 

Ultimately, this initiative goes beyond just buying stock but is a matter of skill and knowledge of the market. 

“Morpher Arena is a bit like Poker. Having a good hand isn’t enough. You need to be better than the other players to win,” says Martin Froehler, Morpher’s CEO.

Then there is the social aspect as well. The goal of Morpher Arena is multifaceted. First, it aims to allow users to interact with Russian stocks, even as they have been sanctioned by the rest of the world. It also hopes to raise money for Ukrainian refugees who have been negatively affected by the conflict. 

But the Russians themselves have not been forgotten as many lost their life savings after sanctions were put in place. The project aims to bring more awareness to their plight even as the issues between Ukraine and Russia continue. 

Since the project was founded in 2018 by Martin Froehler, a former hedge fund manager, and Denis Bykov, a Stanford Engineer, it has seen a lot of support from investors. In its recent Series A funding round, for example, it raised over $6 million.

Greater Market Access

What Morpher Arena is bringing to the market is more than just a stock trading platform. It is a way to do good by giving back, a communal experience in stock trading, and ongoing documentation of the issues facing the world at large.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: https://cryptodaily.co.uk/2022/05/how-morpher-arena-is-supporting-ukraine-with-stock-trading