How Will The AMZN Stock Split Affect DeFiChain Users

Early in March, AMZN announced a 20-for-1 stock split. Though it will ultimately take place on 3 June 2022, it has already sent the stock on a rally not seen in recent months. In theory this should not happen, because a split doesn’t affect a company’s business fundamentals. Yet such splits often cause day traders to pile in, fueling rallies like these. However, there is no change in the fundamentals that would justify such an increase, rather, the only thing that will happen is that each shareholder of AMZN in the traditional stock market will receive 20 shares for every 1 share of AMZN they currently own. The distribution from the stock split will take place at the close of business on Friday, 3 June 2022, and trading will begin on the split-adjusted basis on Monday, 6 June 2022, at 9.30 am ET (1.30 pm UTC). How does this affect dAMZN on DeFiChain? Since the minting of dAMZN is dependent on the price oracles of AMZN, a split without an adjustment on DeFiChain’s side would cause ...