WallstreetBets (WSBDApp) has partnered with Balancer to launch Exchange Traded Portfolios (ETPs) on Balancer’s V2. These products will focus on improving decentralization for retail investors to find an alternative.
WallStreetBets (WSBDApp) Partners With Balancer
A statement indicated that Balancer, the liquidity provider and automated portfolio manager. This will also facilitate WSBDApp roll out ETPs on its V2 platform.
WSBDApp also plans to support “the little guy,” which has been WSB since inception in 2012, via the decentralized portfolios’ nature.
Retail investors will also be able to shield themselves against inflation with a selected pool of fiat-linked stablecoins, cryptocurrencies, and tokenized commodities.
WSBDApp will also be allowed to vote to organize and arrange the portfolios. According to the announcement. These measures will “further expand the possibilities of DeFi and increase crypto exposure to crypto-native and traditional investors alike.”
“We are excited to partner with the WSBDApp and also 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.” – commented CEO of Balancer Labs – Fernando Martinelli.
How Would the ETPs Work?
According to the announcement, the exchange-traded portfolios will operate similarly to Index funds or ETFs.
To avoid inflation they will therefore create a unique portfolio of tokens. By ensuring they are fully liquid, balanced, and non-custodial.
It will enable users to connect their wallets to the Balancer protocol portfolios to utilize the proper currency to purchase and receive tokens worth their holdings.
This is where Balancer V2 plays a critical part in enabling those portfolios and rebalance through its dynamic and user-friendly control capabilities.
This is how BTCVIX, the CEO of WSBDApp, commented on the matter:
“The WallStreetBets community has something for everyone, and with democratic tools like ETPs. We’re showing the world how we can manage financial markets. Balancer is providing our community the data they need to access and evaluate these portfolios, enabling really educated financial decisions.”