BuiDling Betoken — December 2018
New stuff 🌟: check out your Trading View integration, new coins, new fund managers, new stats.
It’s good to be back on Medium. In the last week, we were pretty busy iterating on Betoken and building fun experiments. We thought it was time to share with you what’s going on in back-stage.
If you remember well, we launched the first version of Betoken back in August with the ambition to attract the best fund managers. We wanted to create a space where professional and amateur crypto traders, fund managers and every crypto-fox can show their mad trading skills.
Not talking about intention, but talking about action
We no longer want to say we’re going to do it. We are doing it right now. We’re beating the market for the last 3 months. We’re building the best-decentralized hedge fund generating real alpha with active users.
Well, it took us a little while but we’re happy to say that we have a lot of action to talk about:
Users and performances stats
Let us show you some interesting stuff regarding our users base and our actual financial performances.
Beware — dApps with active users!
To bring more context to our story, we need to explain one thing. After an airdrop in August, we onboarded hundreds of people willing to manage our funds. Afterthoughts, it was a mistake because we onboarded people just wanting sweat profits without working to make it happen.
The airdrop wasn’t a great idea for our model: just a lot of inactive users which means no AUM managed, so no profits were made. Though, we acquired some core-believers still hanging out on our dApp.
We decided to try another way. Since last October, each manager needs to create an account preloaded with Kairo — our custom ERC20 token.
Each month, we’re onboarding new managers and let them play with our AUM. We onboarded so far 50 active managers trying their best to beat the market on a 24/7 basis. You can check their performances in our Ranking tab.
What does it take to generate alpha?
Since our testnet launch, more than 6,000 transactions have been triggered by our managers for buying and selling more than 40 different crypto-assets.
The result?! Well, it’s not a perfect comparison. But, if we take in account the fact that Betoken is a fund with an active management strategy and we compare it with a passive investment strategy used by index funds like Bitwise, the results for the last month are less worse for Betoken.
The chart below is reflective of the November returns an investor would achieve by purchasing all of the assets at the corresponding weights for each index or a particular asset like Bitcoin or Ethereum, and his returns if he invested his money in Betoken.
We can see in the chart that Betoken’s performances are half the loses of the Bitwise 10 Private Index Fund or the Bletchley index. We’re not saying that’s a good result because of the lack of details available in our benchmark. Though, it’s enough to capture the big picture of how a decentralized hedge fund managed by the wisdom of the crowd can generate better alpha.
Time and market fit will tell us if we’re on the right way to reach our goal. If you’re an investor, stay tuned for our launch on Mainnet by subscribing to our email list or by joining us on Telegram and Twitter.
New cool stuff added to Betoken dApp
We’re buiDling, fixing and shipping new features. Here is the list:
TradingView
Managers can now check the trend for an asset’s price on a monthly basis with 24h price change too. This feature completes the Market tab we released in November.
New UI for our buying panel
With the TradingView integration, the overall architecture of our buying order panel needed a refresh. We decided to condensate the main action at the top of it. We regrouped the assets list and the input to stake KRO at the same hierarchy level. And displaying below, available KRO user’s balance and price information.
FAQ
It was a much-needed component of our ecosystem. From our landing page and application, you can now have access to a lot of resources to learn more about our goal, values and how all of those things work together to produce the best-decentralized hedge fund out there. Check out our FAQ.
Better error UX
The last version of our dApp was lacking some fundamentals regarding alerts and messages when errors were occurring. We fixed that with beautiful error components.
We also added a section to guide our new managers and make it more clear when they could join us to manage the fund’s AUM.
UI connection
We released a more comprehensive user interface to connect to the app and display the different state of connection to networks and wallets.
….And we fixed other minor issues regarding spacing, wording, accessibility, etc.
New assets listed
We use Kyber protocol to run the Betoken’s internal trades. They list each month a bunch of new assets, so we’re listing them too. For this month:
Dether DTH: sell and buy your crypto-assets for cash locally using DTH to operate in the ecosystem.
Content Neutrality Network (CNN): a blockchain-based content ecosystem.
EchoLink (EKO): a blockchain based system that provides verified education, skill, and work experience information.
Odyssey protocol (OCN): a project aiming to decentralize the sharing economy.
Propy (PRO): real estate on blockchain.
Ost (OST): allows any consumer-facing marketplace to design, launch, and manage their own branded tokens on open, scalable side-chains.
MakerDAO (MKR): a decentralized autonomous organization for the Dai stable coin. The platform is a currency token network that aims to keep its value stabilized against the U.S. dollar. As a governance token, MKR holders have the responsibility of making risk-based decisions that will influence the future health of the system.
Distributed Credit Chain (DCC): the world’s first distributed banking public blockchain with a goal to establish a decentralized ecosystem for financial services.
Conclusion
Outside of just numbers, charts, and fancy UI, we wanted to thank you all for supporting us along this fantastic journey. We constantly look for market validation through constant iterations. Though, without the support of our community, we wouldn’t have lasted so much time. So, just thanks everyone ❤.
Thanks for reading! Don’t forget to hit the clap button and share the post with your friends!
To share your thoughts or to learn more about the project, come to chat with Zefram, Surya and Guillaume directly on Telegram or Twitter. We look forward to seeing you there!
Stay tuned for announcements on Reddit and Facebook. And we’re always looking for talented individuals to join the team. Please reach out to us at hello@betoken.fund.
