WallStreetBets Partnered With Balancer To Launch ETPs: Report

WallStreetBets partnered with Balancer to enhance DeFi utilization by releasing the new exchange-traded portfolios as we are reading more in our latest cryptocurrency news.

WSBDApp is the blockchain-based trading platform related to the WallStreetBets movement and it partnered with Balancer to launch an exchange-traded portfolio on the latter’s V2 platform. The products will aim o enhance the decentralization for retail investors that are seeking alternative investment opportunities. The statement shared with the media shows that Balancer as teh automated portfolio manager and liquidity provider will enable WBSDApp to roll out the novel ETPs ont eh launched the second version on teh platform. WSBDApp intends to support the “little guy” which was the mission WallStreetBets had since its inception in 2012 through teh decentralized nature of the portfolio. The retail investors can hedge against inflation with teh community-selected basket of teh fiat-linked stablecoins, cryptos, and tokenized commodities.

The WSBDApp community will vote to compile and rebalance the portfolios and according to the announcement, these steps will further expand the possibilities of Defi and increase the exposure to crypto-native and traditional investors alike as the CEO commented:

“We are excited to partner with the WSBDApp and bridge the gap between traditional and DeFi investing. WallStreetBets shares our mission of scaling accessibility to DeFi, and we are thrilled to welcome them into our ecosystem.”

The press release explained that the exchange-traded portfolios will work similarly to the ETFs or the index funds and they will create a new portfolio of tokens by ensuring that they are fully liquid, noncustodial, and balanced to avoid inflation. Users will be able to connect their wallets to their portfolios and will utilize the proper currency to buy in and to receive a token representing holdings which are where Balancer V2 players a very important role to allow these portfolios to be rebalanced via its user-friendly and dynamic control capabilities, as the CEO of WSBDapp said:

“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. Balancer is providing our community the data they need to access and evaluate these portfolios, enabling really educated financial decisions.”

Source: https://www.dcforecasts.com/altcoin-news/wallstreetbets-partnered-with-balancer-to-launch-etps-report/