Balancer and WallStreetBets (WSBDApp) Partner to Launch ETPs, Effectively Scaling DeFi Investing
DailyCoin
Published Sep 08, 2021 09:00AM ET
Balancer and WallStreetBets (WSBDApp) Partner to Launch ETPs, Effectively Scaling DeFi Investing
Balancer Protocol, the leading platform for programmable liquidity, and the WSBDApp, the blockchain-based trading platform connected to the iconic WallStreetBets grassroots movement, announced today a strategic collaboration to launch WSBDApp’s novel exchange-traded portfolios (ETPs) on Balancer V2. These decentralized portfolios align with WallStreetBets’ deep-seated belief in the “little guy” retail investor and aim to scale decentralized finance (DeFi) investing by hedging against inflation with a community-selected basket of fiat-linked crypto stablecoins, tokenized commodities, and crypto native assets. With portfolio compilation determined, voted upon, and rebalanced by the WSBDApp community, this initiative will further expand the possibilities of DeFi and increase crypto exposure to crypto-native and traditional investors alike.
As innovation pushes forward in DeFi, an adoption gap widens for traditional financial investors. ETPs allow retail investors to diversify their portfolios with tokens such as WBTC, WETH, wDGLD, USDC, EURS, and NZDS to hedge against fiat currency inflation while also gaining high potential crypto exposure.
“We are excited to partner with the WSBDApp and bridge the gap between traditional and DeFi investing,” said Fernando Martinelli, CEO of Balancer Labs.
“WallStreetBets shares our mission of scaling accessibility to DeFi, and we are thrilled to welcome them into our ecosystem.” Like an ETF or index fund, WSBDApp’s ETPs on Balancer create a carefully selected portfolio of tokens that are fully liquid, balanced to avoid inflation, and non-custodial. As part of the collaboration, WSBDApp users will connect wallets to their Balancer Protocol portfolios and use the proper currency to buy-in and receive a token representing their holdings. Balancer V2 rebalances the portfolio providing a user-friendly and dynamic control.
Balancer V2’s operations significantly reduce gas and processing fees, and users will receive frequent updates about the status of their ETPs. Once the funds are held, users get access to any upside of the collection and can sell back their shares when ready.
“The WallStreetBets community has something for everyone, and with democratic tools like ETPs, we’re showing the world how financial markets should really be managed,” said BTCVIX, CEO of the WSBDApp.
“Balancer is providing our community the data they need to access and evaluate these portfolios, enabling really educated financial decisions.”
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