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Exchange Traded Portfolios by WallStreetBets Running on Blockchain’s Automated Money Manager Platform Balancer

UTC by Andy Watson · 2 min read
Exchange Traded Portfolios by WallStreetBets Running on Blockchain’s Automated Money Manager Platform Balancer
Photo: Depositphotos

WallStreetBets has become a brand name and has now launched its one trading platform app on the blockchain WSBDApp.

If 2020 showed us anything, it was that resilience and coming together could get us through anything. During this difficult time, a revolution was born in the retail trading community, effectively bringing in millions of users that had never traded before to enjoy new opportunities. An army of people came together through the Reddit forum, WallStreetBets, and the concept of retail trading was deeply fomented.

Millions of people that had never traded before got together, to share ideas and push up stocks, and even managed to bring the institutions to their knees, those same institutions that had shorted stocks learned a very valuable lesson.

At that time, WallStreetBets became a kind of home for the underdog, as it successfully lifted the barriers to new traders, who all joined the same playing field. Since then, WallStreetBets has become a brand name and has now launched its one trading platform app on the blockchain WSBDApp.

ETPs Giving ETFs a Run for Their Money

Its latest product known as ETPs, Exchange-Traded Portfolios is being offered through the leading blockchain-based automated portfolio manager and trading platform Balancer.

ETPs are baskets of assets grouped together, across fiat-linked crypto stablecoins, tokenized commodities, and crypto native assets, giving investors a way to diversify and broaden their portfolios and a way to hedge against inflation. investors can directly connect their wallets to these Balancer Protocol portfolios. From there, their deposit will be transferred into a token, which can be used to trade their portfolios on Balancer V2. From there Balancer V2 automatically optimizes the client’s portfolio giving users a way to extend gains and manage risks automatically.

“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 CEO of Balancer Labs said.

Blockchain News, News
Andy Watson
Author Andy Watson

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