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Set Protocol launches platform for automated crypto asset management

Set Protocol launches platform for automated crypto asset management

The team of Set Protocol, a solution to create, manage, and obtain baskets of tokenized assets, has announced the initial launch of Strategy Enabled Tokens on TokenSets, a platform that enables traders and crypto enthusiasts to automate asset management strategies by simply acquiring a token.

TokenSets initially supports 6 Sets optimized based on how bullish or bearish the user is of the crypto market. Hold the ones that most align with your sentiment:

  • ETH Range Bound Low VolatilityIf you believe the price of Ether will swing within a tighter range in the medium to long term, this Set will automatically buy on 30% dips and sell on 35% rebounds.
  • BTC Range Bound Low VolatilityIf you believe the price of Bitcoin will swing within a tighter range in the medium to long term, this Set will automatically buy on 20% dips and sell on 25% rebounds.
  • ETH Range Bound High VolatilityIf you believe the price of Ether will swing within a wider range in the medium to long term, this Set will automatically buy on 50% dips and sell on 40% rebounds.
  • BTC Range Bound High VolatilityIf you believe the price of Bitcoin will swing within a wider range in the medium to long term, this Set will automatically buy on 40% dips and sell on 30% rebounds.
  • ETH EnthusiastIf you are bullish towards Ether, but wish to diversify a portion into Bitcoin, this Set will automatically rebalance monthly to maintain a fixed ratio of 75% ETH and 25% BTC.
  • BTC EnthusiastIf you are bullish towards Bitcoin, but wish to diversify a portion into Ether, this Set will automatically rebalance monthly to maintain a fixed ratio of 75% BTC and 25% ETH.

There are no management fees, no minimums, and no counter-party risk when acquiring a Set token on TokenSets. Users maintain custody of their funds . The system enables users to put their idle crypto assets on exchanges or wallets to work on TokenSets in a  set-it and forget-it fashion.

“With the launch of TokenSets and Set Protocol today, we are another step closer to our mission to make wealth creation tools accessible to anyone. We are excited to be adding decentralized asset management to the mix of lending, decentralized exchanges, derivatives and stablecoins products available in the DeFi ecosystem. As we continue to evolve, we plan to roll out more Sets with complex portfolio strategies to truly level the playing field in this new open financial system.”

Richard Liang, Set Protocol

User Experience

The team of Set Protocol built TokenSets with simple user experience in mind. In addition to MetaMask, TokenSets supports a novel phone login system via Fortmatic, an easy to use and highly secure wallet that utilizes SMS and PIN. A user simply inputs their phone number, creates a PIN, and transfers ETH from an exchange or wallet to start purchasing Sets in just a few clicks. TokenSets supports the most popular mobile wallets including Coinbase Wallet, imToken and Trust Wallet to make Sets accessible from anywhere.

“We’re seeing an explosion of activity in DeFi particularly in stablecoins, lending, decentralized exchanges, and derivatives. Unleashing Set to the world adds asset management for the first time to the mix of financial products available to Ethereum ecosystem.” 

Paul Veradittakit, Partner at Pantera Capital

“Set enables an easy way for users to manage their assets efficiently and effectively, while providing trustless security to end-user funds. The native integration with Kyber also shows the power of decentralized on-chain protocols to be able to work together and enable a connected decentralized financial stack.” 

Loi Luu, CEO and Co-Founder of Kyber Network

As mentioned above, there are no management fees for using TokenSets. However, there may be some slippage during each rebalances and purchases of Sets using Kyber Network’s decentralized exchange. The Set Protocol team reports they will quickly be following up this launch with more customizability with the thresholds in the Range Bound Sets, and also include support for stablecoin purchases.

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