BiShares Embraces Degen Vibes, Launches biDEGEN ETF Fund

The new dETF product comprises numerous DEGEN tokens in the Fantrom network.

Utulu Hope
October 23, 2021
BSC News

BiShares Introduces biDEGEN dETF 

BiShares continues to expand its decentralized Exchange Traded Fund (dETF) ecosystem. The dETF protocol boasts numerous dETFs on Binance Smart Chain (BSC) and has added biDEGEN to its rich list. 

The biDEGEN dETF is a collection of DEGEN projects and their tokens built on the Fantom network. BiShares introduced the new product on 20th October via Twitter. 

“Looking for a diversified $FTM Degen dETF fund? #BiShares got you covered! $biDEGEN is live on our funds page! $BISON,” tweeted BiShares. 

The BiShares platform offers a basket of tokens in numerous market sectors like the Decentralized Finance (DeFi) sector, GameFi sector, Chain sector, etc. The newest addition will offer users exposure to different tokens in the DEGEN sector on the Fantom chain. In addition, The biDEGEN fund comprises ten Fantom-based project tokens with different weighting percentages. 

BiDEGEN Fund Lineup

The new product adds more liquidity to the protocol’s native $BISON token. The biDEGEN fund is a curated list of tokens in the DEGEN market built on Fantom, including the $BISON token. Every asset on the dETF fund will be minted as one token using the weighting percentages. 

Let us take a look at the list of projects that make up the biDEGEN dETF fund and their weighting percentages below: 

A curated list of all ten projects and their weighting percentages | source

Mensa has the highest weighting percentage of 13.82%, IceToken comes second with 12.06%. SpiritSwap token has the third-highest weighting percentage of 10.26%. Magic Internet Money (9.31%), JustYours (9.19%), TOMB (9.16%), and Tarot (9.09%) occupy fourth to the seventh position. Finally, liquid Driver (8.17%), Bishares (6.80%), Timechain Swap Token (6.45%), and TosDis (5.68%) complete the list. 

The Bishares Degen fund is available to anyone, occupying the underlying assets on the Fantom network listed above. This is another solid move by the dETF project on BSC. We expect BiShares will keep adding more dETF products soon. Now, users can enjoy the benefits of managing all Fantom-based DEGEN projects all in one place through the BiShares Degen fund. 

What is BiShares? 

BiShares was named as a combination of Binance and Bison - the platform mascot.  Founders, @allthingsNFT and @defivlad hope to serve the BSC community first and have high hopes that CZ and the Binance team will embrace their creativity. BiShares launched its DAO token, with a 750% oversubscribed Initial Ape Offering from ApeSwap, and the team plans to turn over the reins to the community in August for DAO voting and collaborations with token holders. The $BISON token gives holders a .5% kickback in platform fees for staking while the platform token gives another 1% kickback - it pays to hold the DAO token, a rare offering with such a robust protocol and community outreach.  

To learn more about BiShares, visit the following links:

Website | Twitter | Telegram | Discord | Medium

Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He hodls mostly in Ethereum, BNB, and, Avax.

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