Exploring Web3 finance

I started investing in Bitcoin and alternative coins in 2014 while working at a mutual fund. I was one of a handful of people at the company who were exposed to Bitcoin. The Associate Vice President of Investments Management Technology and I discussed offering a crypto product to clients but found that the market cap was too small, and mutual funds were too heavily regulated, so we would never get approval. Years later, I was happy to discover the emergence of DeFi.

While working on the Mix3d community I had several friends and family ask what cryptocurrencies they should invest in. Besides legal reasons, I try to avoid giving any financial advice because novice investors act on emotion and are inconsistent. I have considered launching a fund several times, and DeFi presented an opportunity to create a strategy without any organization becoming the custodian of the funds. I found TokenSets and put together a strategy on the Polygon network to minimize trading fees while having access to most tokens. The strategy is weighted by market cap and includes all of the currencies that I thought would be crucial to the development of Web3.

While TokenSets is an incredible tool, ultimately I was unsure of the legal implications and did not want to take the leap of being responsible for the funds of family and friends. Luckily, I did not move forward because LUNA imploded months later.