On September 8, crypto KOL 0xShawn (@ShawnThread) said on social media that he had successfully minted BNC4 tokens on the Four.meme platform using the stock’s after-hours market price, locking in a $230,000 arbitrage profit.
Per Four.meme’s 4Stock mechanism and its official documentation, here’s how the trade happened: Shawn sent USDC to a designated minting address and filed a request. The platform then handled the request, used the money to purchase actual BNC shares (CEA Industries), and minted and issued BNC4 tokens to him on a 1:1 basis tied to the number of shares bought. Then he quickly sold the BNC4 tokens on BNB Chain.
At that moment, BNC4 was changing hands at 7-8 times the price of the underlying stock. Big gap. The stock was around $4 in after-hours trading, while BNC4 briefly climbed above $30, which made the arbitrage possible.