One main factor that often keeps many individuals from becoming part of the blockchain world is asset management within the platforms. Most people do not know how to write a single line of code, but now that is not a problem anymore. Now people can rely on Set Protocol, which is nothing more than an intelligent protocol that makes blockchain fund strategies easy and accessible.
WHAT THE HECK IS A SET?
A Set is a digital asset (ERC-20), that represents a portfolio of other assets including Bitcoin, Ethereum, and DAI. According to the official website: “Sets automatically rebalance to make executing any portfolio strategy simple by holding a single asset. Using Sets removes the need to manually manage multiple assets and rebalance your portfolio”.
HOW DOES IT WORK?
Set built TokenSets, the first interface where users can acquire a Set with just a few clicks. It is possible today to follow simpler strategies that resemble the average stock market, such as the Index, or even more complex strategies.
There is also Set Social Trading, which allows traders within the Set Protocol to tokenize their strategies.
Interactivity within Set is a highlight involved in the process: its available that users can buy into Traders Sets, gaining automated exposure to their strategy.
CAN I TRUST THE PLATFORM?
According to Set official website info, the team involved behind the SET project has security as a standard to be followed. The protocol indeed involves a series of complexities, which demand from personnel a series of measures such as audits (Chain Security and Trail of Bits have already audited Set).
Also, the project encourages full transparency with users, and every line of smart contract code is open source, so anyone can review and verify the code if they wish to.
WHO MIGHT BE INTEREST ON SET?
Bringing to real-life a protocol that aims to make life easier for beginners, the most benefited people are amateur investors or traders, people that don’t have the knowledge, effort, or skills to implement asset management based on blockchain, but know the importance and the value of such strategies.
SET makes these strategies easily available through a responsive and easy to understand interface.
WHO’S BEHIND THE PROJECT?
The company’s CEO, and co-founder, is Felix Feng, who became interested in cryptocurrency in 2013. At the time, Bitcoin’s value had reached one of its historic highs, making a meteoric jump from $ 100 to $ 1300.
Studying in Italy at the time, Feng attended the Bitcoin Conference 2014, where he met none other than the cryptocurrency pope, programmer Charlie Lee (founder of Bitcoin).
Then being fully convinced that cryptocurrency was the future and would make a drastic change in the world, Charlie continued to specialize and work hard, going through some interesting projects, until he founded SET.
In the past, managing blockchain assets might even have been considered rocket science, but today it is no longer. The Set Protocol makes everyone’s life easier, including newcomers ready to embark on the gains involved in blockchain investments.
Created to help all levels of blockchain traders and investors, Set has a simple interface, self-explanatory processes, and more than useful information, all mixed in an automated management process.