WSBDApp, the blockchain-based trading platform related to the WallStreetBets movement, has partnered with Balancer to launch exchange-traded portfolios (ETPs) on the latter’s V2 platform. These products will aim to enhance decentralization for retail investors seeking alternative investment opportunities.
The statement shared with CryptoPotato reads that Balancer – the automated portfolio manager and liquidity provider – will enable WBSDApp to roll out its novel ETPs on the recently launched second version of its platform.
WSBDApp intends to support the so-called “little guy” – which has been WallStreetBets’ mission since its inception in 2012 – through the decentralized nature of the portfolios. Retail investors will be able to hedge against inflation with a community-selected basket of fiat-linked stablecoins, tokenized commodities, and cryptocurrencies.
The WSBDApp community will also vote to compile and rebalance the portfolios. According to the announcement, these steps 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 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.
The press release explained that the exchange-traded portfolios will work similarly to ETFs or index funds. They will create a selected portfolio of tokens by ensuring they are fully liquid, non-custodial, and balanced to avoid inflation.
Users will be able to connect wallets to their Balancer Protocol portfolios and utilize the proper currency to buy-in and receive a token representing their holdings. This is where Balancer V2 plays a crucial role as it allows those portfolios to be rebalanced through its user-friendly and dynamic control capabilities.
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 financial markets should really be managed. Balancer is providing our community the data they need to access and evaluate these portfolios, enabling really educated financial decisions.”