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Wall Street Bets Dapp Launches DeFi ETP

What will users be able to access through the latest initiative by WSB Dapp.

Offering Designed for Users

Wall Street Bets Dapp has announced its latest initiative to offer users the best crypto experience possible: DeFi (Decentralized Finance) ETP (exchange-traded portfolio). 

The announcement was made via their official blog and Twitter on December 21. Designed with the Binance Smart Chain (BSC) Index Provider, the DeFi ETP looks to entail ‘all that crypto has to offer’ and highlights the following uses:

  • Easy diversification 
  • Sensible risk management 
  • High-performance potential 
  • Lower gas fees via combined transactions
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What's Inside the WSB DeFi ETP? 

The DeFi ETP looks to include leading elements of all DeFi sectors, as picked by the community of traders operating on Wall Street Bets. The following offers a breakdown of exactly what the DeFi ETP entails:

Borrowing and Lending protocols (37.5%) 

Compound - COMP 

Aave - AAVE 

Maker - MKR 

Decentralized Exchanges  (25%) 

Uniswap - UNI 

SushiSwap - SUSHI 

Derivatives & Synthetic Assets  (12.5%) 

Synthetix - SNX 

Asset Management  (12.5%) 

yearn.finance - YFI 

Data Management  (12.5%) 

The Graph - GRT

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What is an ETP?

ETPs (exchange-traded portfolios) are groups of digital assets that can sometimes include tokenized versions of real assets such as stocks, commodities, and in this particular case, cryptocurrencies. 

How does this differ from an ETF, a term you are likely more familiar with. The ETP claims to be wholly community-run by the traders on Wall Street Bets Dapp, who decide asset allocation via voting on proposals through the WSB token. 

The initiative looks to offer users exposure to an array of DeFi assets without being taken advantage of by greedy financiers running ETFs they claim. 

The ETP remains non-custodial, meaning only you have the keys to your coins. Traders are able to make deposits and withdrawals whenever they please without requiring permission. 

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Another key element that is underlined here by WSB Dapp is that all tokenized assets in the ETP are backed by a physical version through a smart contract. The team claims that everything is transparent within the initiative and that they also offer real-time price and performance stats to users to make the whole experience easier.

How popular this move will be with users is yet to be seen, but what does appear to be true is that Wall Street Bets certainly are looking for ways to offer more. Can WSB flex the popular meme name from the infamous subreddit?


What is Wall Street Bets Dapp?

The team explain that the WSB Dappmovement for financial democracy began on Reddit and became a global phenomenon. This is they (the apes) created a Decentralized Application to give their community a tool to voice their opinions as retail investors. WSB Dapp claim they solve the FEES and MARKET MANIPULATION problem that have solely benefited centralized financial institutions for the past 100 Years.

Where to find Wall Street Bets:

Website | Twitter | Medium | Telegram | Discord 

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