WallStreetBets’ platform WSBDApp, for the trading based on blockchain, has joined Balancer for issuing ETPs (exchange-traded-portfolios) via the V2 platform of the former. The target of these products will be to make advancements in decentralization regarding the retail investors pursuing substitutive investment opportunities.
WSBDApp – Balancer partnership
In a statement, Balancer (a manager for automated portfolios and a provider of liquidity) has said that it will allow WBSDApp to launch its unique ETPs through the previously launched V2 of the platform thereof. The target of the WSBDApp is at assisting the firm as intended by WallStreetBets when its foundation was being laid in 2012. The platform will launch its decentralized portfolios for this purpose. It will permit the retail investors to avoid inflation through a community-opted collection of fiat-related stablecoins, cryptocurrencies, and tokenized commodities.
The community of WSBDApp will also have the opportunity to cast a vote for compiling as well as rebalancing the portfolios. As per the announcement, such moves will additionally broaden the DeFi-related possibilities and escalate crypto exposure to the traditional and crypto-native investors in the same way. Fernando Martinelli, the Balancer Labs’ CEO, remarked that the company is thrilled to have WSBDApp as a partner to fill the gap between DeFi and traditional investment. He added that the firm intends to scale the accessibility to the decentralized finance (DeFi).
The operation of the ETPs
It has been elaborated in the press release that there will be a similarity between the working of exchange-traded portfolios, index funds, and ETFs. An opted portfolio for covering the tokens will be created by confirming that they are completely non-custodial, balanced, and liquid to evade inflation. The consumers will be permitted to link wallets to the portfolios of Balancer Protocol and use the adequate currency for purchasing and acquiring a token that would represent the holdings thereof. This is the point where the V2 of Balancer enters the scene. It allows the rebalancing of those portfolios via its dynamic and user-friendly control capabilities.
BTCVIX, the WSBDApp’s CEO, remarked by stating that the community of WallStreetBets has something that everyone desires, and through democratic instruments such as ETPs, the company’s platform is displaying the ideal management of financial markets in front of the world. Balancer is offering its community their required data to access as well as evaluate the portfolios, allowing for sure-enough rational decisions regarding finance.