Introducing Betoken
A decentralized crypto hedge fund managed by a true meritocracy
It would seem that most western governments believe you’re too dumb to make good investment decisions if you are not a millionaire. If a billionaire’s kid wants to throw money at crazy pizza startups? No problem. If a poor college student knows what startups will be leading the next tech revolution and wants to invest? Tough luck. It appears that the investment industry is rigged towards keeping all the money-making opportunities just to the rich.
This is the reason we’re announcing Betoken, a hedge fund where anyone can invest, and anyone can get paid for their investment insights. It is by the people and for the people. Betoken is open, transparent, trustless, and unstoppable.
As an investor
To be an investor in Betoken, all you have to do is put in money, and our unique system guarantees that your money is handled by the best people. All the research and hard work involved in making the investments will be handled by our managers.
As a manager
On Betoken, you can exercise your trading skills and get paid purely based on your merit. No wealth requirement and no licence needed.
Learn more and sign up for our alpha release at betoken.fund, read our whitepaper and join us on Telegram, Twitter, Reddit, and Facebook. We will launch a beta platform soon in Q4 2018.
So, What Is Betoken?
Betoken is a hedge fund that invests in crypto-assets — things like cryptocurrencies and tokens. It is a decentralized app running on the Ethereum blockchain. Betoken uses a true meritocracy to manage its investments.
At the beginning of each month, you can deposit Ether or ERC20 tokens to buy Betoken’s shares. If you just want to invest, your journey ends here; just remember that you can only withdraw your investment at the beginning of each month.
If you want to manage the fund’s investments, you would need to buy Kairo tokens (KRO) — our utility token that denotes a user’s ability to make profitable investment decisions and how much of the fund’s money they can manage. Then, you can start buying & selling crypto-assets on behalf of the fund using Kairo tokens. It’s just like trading on exchanges, except you’re using Kairo instead of USD, EUR, BTC, or other currencies.
Every month, a certain proportion of profits made in the previous month is distributed to Kairo holders, based on how much Kairo they own. The more good decisions you make, the more Kairo you have, the more income you get. This ensures that Betoken’s decision-making process is truly meritocratic, and incentivizes managers to become better and better.
What’s next?
This article is the beginning of a series of biweekly posts that will introduce what Betoken is, how it works, and our vision for it. We will also have biweekly updates of our development progress laced in between. Research documents will be published from time to time as well. Stay tuned!
We are also excited to share the first public release of the Betoken White Paper, in which we outline our future plans for the project. In addition, we’re figuring out new ways to handle governance systems research and revolutionize how we as a species will organize ourselves. If you find that interesting, you can read our article We Need to Formalize Governance using DAOs. (Spoiler: it’s really fun)
It’s still early days for Betoken, and we can’t wait to take on the trillion-dollar asset management industry head to head. We hope to disrupt the existing financial structure and join the historical struggle of achieving economic equity. Please note, our vision for the Betoken fund is continuously evolving and we want you to be a part of the process; we eagerly welcome all feedback and suggestions.
To share your thoughts or to learn more about the project, come chat with Zefram, Surya and Guillaume directly on Telegram or Twitter. We look forward to seeing you there!
Don’t forget to sign up for our alpha release at betoken.fund. 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.
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