Sure, RadioShack Has Pivoted to DeFi

For years, electronics retailer RadioShack used the slogan, “You’ve got acquired questions, we have got solutions.”

After the moribund chain’s newest transfer, folks have loads of questions.

Over the weekend, the corporate confirmed a pivot into decentralized finance (DeFi), the title for blockchain-based protocols that enable folks to ship, obtain, commerce, lend, and borrow funds with out intermediaries.

RadioShack DeFi, the website now reads, “would be the bridge between the CEO’s [sic] who management the world’s firms and the brand new world of cryptocurrencies.”

In keeping with paperwork on the web site, “RadioShack, and RadioShack alone, can bridge the hole and ‘cross the chasm’ of mainstream utilization for Cryptocurrency.”

(If you happen to’re elevating your hand to ask a query, we see you.)

The web site touts a partnership with Atlas USV (common retailer of worth), a DeFi protocol that permits purposes to be constructed atop it. RadioShack DeFi goals to start by making a decentralized change (DEX) within the vein of Uniswap or Sushiswap that faucets into liquidity swimming pools. This mannequin lets token holders commerce instantly for some other token.

Atlas’s Ethereum-based token USV is new sufficient that it’s not even one of many 10,000+ belongings tracked by CoinGecko or CoinMarketCap, although it may be traded on DEXs. In keeping with RadioShack, the protocol “permits USV customers to buy third-party tokens within the open market after which switch them to the Atlas USV treasury in return for discounted USV tokens.”

If you happen to’ve by no means heard of Atlas USV, which is supplying the know-how for the enterprise, you may not be shocked to listen to that it is the brainchild of Alex Mehr and Tai Lopez—the identical males who bought RadioShack last year.

Lopez confirmed in a video posted on December 11 that he’s “taking RadioShack on the blockchain, it’s going to be the primary large mainstream model that flipped utterly right into a crypto.” He additionally teased the upcoming launch of Atlas USV.

RadioShack, a once-ubiquitous electronics retailer, could not climate the e-commerce growth; it filed for chapter in 2015 and once more in 2017. It is since carved out a humble existence post-bankruptcy as a elements provider for HobbyTown USA whereas protecting a number of hundred franchised retailers open and sustaining a web-based retailer. Retail Ecommerce Ventures (REV), run by CEO Mehr and Government Chairman Lopez, purchased it in 2020.

In truth, REV owns most of the chains that used to outline U.S. retail, together with Pier1, Linens ‘N Issues, and DressBarn. Its normal technique is to pivot failing retailers away from storefronts and into e-commerce, whereas courting co-investors to pitch in. They’re form of like home flippers, solely they deal in rejuvenating the picture of defunct legacy manufacturers.

(Okay, put your hand down, as a result of we’re about to reply what you actually wish to know.)

Sure, RadioShackSwap (or no matter its title turns into) will launch its personal token: RADIO.

members of the general public can join a notification of the launch, however the plan is to distribute 10 billion RADIO tokens. The corporate hasn’t but shared how—or to whom—they are going to be distributed.

Until, after all, Mehr and Lopez are pranking everybody in crypto.

So, with RADIO coming quickly, the pure subsequent query is: Wen Pier1 token?

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