Get started with the first crowd-powered crypto asset management protocol. Powered by Kyber, Fulcrum, Compound, DAI, and Ethereum.
Today, we are beyond excited to announce the launch of Betoken, a fund management protocol that will not only transform how people invest in cryptocurrencies, but also provide thousands of open job opportunities to crypto-traders.
By staking Kairo tokens — Betoken’s non-transferable reputation token — Betoken’s fund managers collectively & actively maintain a single portfolio consisting of 70+ Ethereum-based cryptocurrencies, as well as margin positions of Ether, Wrapped BTC, BAT, KNC, REP, and ZRX. Connecting your capital into this pooled portfolio is as easy as clicking a button to receive Betoken share tokens — representing your ownership in the Betoken fund.
Betoken uses a meritocratic system that automatically allocates the most funds to the managers with the best track record, and also pays them the most commissions. This tightly couples the managers’ interests — earning commissions — with the users’ interests — putting at work their money and saving time. We believe this will make magic happen.
Get started now!
Connect your capital:
If you want to connect your capital this month, you will only have 72 hours to do so, from July 1st to July 3rd at 3:00 pm Japanese time. If you’re late, don’t worry, Betoken allows capital connection and redemption every 27 days. Stay tuned.
Manage Betoken’s fund:
Make sure you are using a dApp browser like Metamask on Desktop (Chrome, Brave, Firefox) or Trust Wallet on mobile. Note that Ledger wallets connected through Metamask on Brave aren’t supported. Switch to Chrome.
But wait, there’s more!
To celebrate our launch, we want to highlight some of the cool stuff you can do on Betoken.
Betoken is a child of the DeFi ecosystem
Betoken is an open-source, community-owned, permissionless, and censorship-resistant protocol that embraces the Decentralized Finance (DeFi) movement. It is deeply integrated with many other DeFi protocols. Find out about the details below!
Instant liquidity and quick user onboarding with Kyber Network
Kyber Network is a liquidity protocol that aggregates liquidity from a wide range of reserves, allowing Betoken managers to trade instantly.
It’s also a perfect solution for onboarding new users who want to connect their capital or become a manager since it allows users to pay with any of the 70+ cryptocurrencies supported.
For example, a user might use WBTC to deposit their funds into Betoken but Betoken stores its funds in DAI to keep the value stable. Kyber Network is used here to make the conversion.
Decentralized margin positions with up to 4x leverage
Betoken makes it easy for the fund managers to create leveraged long or short positions in WBTC, ETH, KNC, BAT, REP, and ZRX. We built a noncustodial margin trading platform on top of Fulcrum and Compound.
Fulcrum is a financial primitive enabling margin trading with up to 4x leverage on Betoken.
Compound is a decentralized protocol which establishes money markets with algorithmically set interest rates based on supply and demand, allowing Betoken managers to perform margin trading with up to 1.5x leverage long and up to 0.5x leverage short.
Note: Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. It’s completely transparent, 100% verifiable, and supported by leading projects. More here.
Bringing stability and accountability with DAI stablecoin
Betoken use MakerDAO’s DAI stablecoin to store value, handle its transparent bookkeeping, and distribute profits and commissions to its users. MakerDAO is a decentralized autonomous organization (DAO) comprised of a decentralized stablecoin (Dai), collateral loans, and community governance.
The Graph Protocol integration
Betoken trading contest 🏆 with 1,000 USD in prizes
We’re introducing our fund managers trading contest in partnership with Kyber Network. We aim to reward our best fund managers during the first month, with prizes in $KNC.
The top 10 managers who produce the best returns in July will win the following prizes:
- 🥇 1st manager: 500 USD worth of KNC
- 🥈 2nd manager: 150 USD worth of KNC
- 🥉 3rd manager: 100 USD worth of KNC
- 🦄 4th-10th managers: 35 USD worth of KNC each
The competition begins on Thursday, July 4th, 2019, in our dApp and will last 27 days. The result will be announced right after the management phase ends and the prizes will be distributed in $KNC immediately.
Show off your trading performance
One of our favorite features on Betoken is the leaderboard. It tracks managers’ performance and ranks them. Managers’ performance is a form of reputation that is used heavily in our Incentivized Meritocracy.
As we mentioned in many posts during the last 18 months, Betoken’s goal is to create more access to better, cheaper, and more open financial services — no matter who you are, where you live, what you do, or how much you have. Our hope is to build a mainstream and self-regulated open financial system. We’re thrilled to finally launch Betoken and bring that future just a little closer.
Nothing herein constitutes an offer to sell, or the solicitation of an offer to buy, any securities or tokens.
Betoken enables capital connection and managing using smart contracts which are open source. Betoken does not take custody of tokens and is only a collaborative hub for users connecting their capital and managers. Betoken is not a licensed bank, broker-dealer, investment advisor or an exchange. Betoken uses partner protocols (Kyber, Compound, Fulcrum by bZx, Maker DAO) to power its own ecosystem.
💀 This project is in beta. Use at your own risk.