With all the new bull market triggers flashing again, I'm kind of tempted to become a complete degen again and dip my toes into some coins again that fundamentally have nothing to them. Yesterday, I came accross a project called stonkatm (Dexscreener Link) which runs on the new Robinhood Chain. The idea behind the coin kind of clicked for me and I wanted to test Robinhood Chain anyway so I aped in and am riding the rollercoaster now...
** WARNING: Don't buy this memecoin just because I did, nearly everything I touched in the past went to zero and so will this most likely. See this post only as entertainment and general info. If you do end up buying something, it's fully your own fault if it goes to zero, but also your acomplishment in case it goes to crazy highs!
$STONKATM
I pretty randomly stumbled upon this one while checking Crypto Twitter. One of the accounts that I follow is the one from @Kevnisvenson which is one of the Youtube technical analist I respect the most. The concept kind of instantly triggered my interest in that you get paid coins from the most popular stocks for holding the coin. I know robinhood is quite popular with the masses and I always was interested in what they would do with their chain but had briged money over there to test it out yet. So this $STONKATM coin that caught my interest was the perfect excuse to test it out...
The Concept
The idea behind the $STONKATM is pretty straightforward and it kind of feels like a recipe for a potential crazy pump given the fact that it was only 6 hours old when I came across it and had a very low market cap (~40k Dollars)
Basically, every buy and sell of the coin comes with a 4% fee of which is 75% is used to buy tokenized stock that gets distributed to the holders and 25% is used to buy and burn $STONKATM coins to lower the supply. From what I understand, all of it is put in code, and there was no crazy scam supply scoop of the ones who created it to eventually rug everyone.
Aside from this, it's just another fundamentally worthless shitcoin where the price pretty much fully depends on if more people after you buy it and where getting in early is the kep to potentially make a lot of profit.
The Payouts!
The only thing you need to receive the payments in the real stocks is to hold $STONKATM in your wallet.
On the website (https://stonkatm.xyz/), you can see a progress meter toward a certain amount of Fees that are collected before the next payout is done.
You also can see the previous epochs and how much was distruibuted. In the first 23 hours since it was launched, already 14 times a payout was made to holders.
Buying $STONKATM
So after kind of reading about it, I was willing to take a small gamble on it given the super tiny market cap and the fact that I kind of trust and respect Kevin Svensson. So I did some research into Robinhood chain and similar to Arbitrum, you can just bridge ETH over there selecting the right chains on https://portal.arbitrum.io/bridge which goes instantly. Once you have ETH on Robinhood Chain you can use Uniswap to buy the coin. Along the way, I got bombarded with warnings that included blind signing and risk of a honeypot. But I researched it making sure that the only money I could lose is the one I put in which I was more than willing to do.
So last night I bought just around 200$ worth of f $STONKATM only to test it out and see how it works for the tokenized stocks to be distributed. To my surprise, in the morning there was around 1$ each of Apple / Nvidia / Tesla / Amazon / S&P500 in my metamask so I knew it was 'safe'. The price had not really moved and it was still around 40k market cap so I aped in more for a total around 800$ and with the intention to sell a bit to recover my initial investment in case it would pump.
By now with a holding of 20 Million $STONKATM, I alrready was paid ~44$ worth in dividends that come from fees that were generated!
The price by now also went up x4 but it's still super small at just 150k Dollars. The good thing about this coin is that holding is encouraged because it pays the dividends which should make it much easier to pump in case most just hold it. At the same time it kind of contradicts itself sice the 4% fee on each trade kills the ability for traders to quickly get in an out of it which possibly kills the fee generation and the dividends. None of this is an issue at such a small market cap and this early, but sooner than later I guess it will eventually kill this memecoin similar to all the others and the higher the market cap goes, the more risky it becomes to actually get in.
Conclusion
My apatite for risk in crypto feels like it's back and I have enough spare funds laying around from the nice dividends received from Sportbet.one which remains one of my biggest holdings and the best money protection / generation during the bear markets (Link: GambleFi Portfolio | SBET In 2026 Still Big Dividends !!). So to test out Robinhood Chain also because I have an interest in real life tokenized stocks, I aped into the $STONKATM Memecoin which concept clicked for me and where it feels still very early. No Financial advice and I do think that this one eventually over time will also go all the way down similar to all the other memecoins previously. Depending on how things go, I might make another update on this one next week.
