WallStreetBets is now a brand name for investors and non-investors alike. They shook up the world of retail investing during the pandemic, by introducing investing to a whole new genre of traders through their Reddit forum. Their community caused a stir, by forcing a GameStop short squeeze and Gamma squeeze in the markets by effectively coming together as an army, talking up the stock, before moving on to other brand name stocks like AMC. WallStreetBets has effectively democratized the trading markets by making them understandable and accessible to all, with a strong community sharing ideas and trading tips.
In that time, the WSB name has gone from strength to strength. Now, this powerhouse brand has partnered up with one of the leading blockchain platforms offering programmable liquidity, by hosting their first exchange traded portfolios (ETPs) to users of Balancer V2.
Investing on the blockchain
These portfolios aim to remove market manipulation from trading, by being hosted on the blockchain. The blockchain comes with many benefits, which include absolute anonymity for its users, a decentralized approach to investing, which is untameable and human proof, with all activity being reconciled automatically on the blockchain. Furthermore, the decentralized nature of the blockchain means it is almost unhackable by cybercriminals.
ETP’s, much like their similar namesake ETFs, are portfolios built from popular assets, but rather than being controlled by institutions, who are in conflict with the investors, they are controlled by community members of WSBDApp, who all have voting and governance rights about the portfolios and the products contained therein. Trading classes inside the portfolios include fiat-linked crypto stablecoins, tokenized commodities, and crypto native assets.
Examples of tokens include WBTC, WETH, wDGLD, USDC, EURS, and NZDS. These offer diversification and exposure to cryptos to investors as well as the ability to hedge against inflation.
Balancer Protocol, the platform hosting these ETPs, offers a trading platform and automated money management services, which seek the best gains for users while minimizing risk and extending capital. It promises competitive fees and processing speeds and investors receive regular updates on their portfolio.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.