SolStreet.Finance — The Decentralized Non-Custodial Asset Management Protocol — Integrated with Serum for Deep Liquidity
Traditional fund management is expensive and slow. Built to solve hedge fund’s issues with incentives, accessibility, and transparency, SolStreet allows anyone to launch a decentralized fund directly to market on the Solana blockchain while utilizing the Serum DEX’s deep liquidity.
An Introduction to SolStreet.Finance
Decentralized? Being built on Solana means that assets on SolStreet remain secure on-chain, performance history is immutable, and fee calculations are transparent. It also makes transactions cheap and fast, and results in a distinctly open-source, modular product — the Serum DEX integration serving as the perfect example of SolStreet’s composability. In addition to the decentralized ecosystem, the SolStreet protocol has a roadmap to becoming fully decentralized, including a decentralized decision making process where stakers control all critical aspects of SolStreet.
Non-Custodial? SolStreet allows investors to deposit into funds which are governed by smart contracts that permit the asset manager to manage the fund portfolio without ever being able to withdraw investor funds. This also means that investments can be redeemed instantly, without friction, penalty, or delay.
Unlike most TradFi asset management vehicles, which have a high barrier to entry, SolStreet has no minimum buy-in amount, nor any prerequisites or costs for launching a fund.
Put these ingredients together and you get a platform on which fund managers can build an auditable on-chain track record — a vehicle for growing assets under management trustlessly based on fund performance merit. This makes SolStreet the ideal place to launch or further build a career in fund management, all without any running costs.
On the other hand, for investors SolStreet represents a secure route to an actively managed crypto portfolio, no matter how big or small. Choose from a diverse set of the best performing fund strategies and invest without ever losing sight of or access to your assets. Better yet, investors only pay fees if their investments make money — eliminating management fees altogether in favour of performance fees. This arrangement aligns all stakeholders’ incentives. For SolStreet’s treasury to accrue revenue, fund managers must earn performance fees, which can only be done by earning returns for investors. It’s win, win, win or nothing.
SolStreet concluded its Solana DevNet fund management competition in November with over 35,000 funds created and 180,000 transactions processed.
SolStreet 🤝 Serum
The protocol uses Serum DEX as a liquidity engine and to execute swap transactions with its 70+ tradable asset pairs. Investors and fund managers alike enjoy unprecedented speed, outstanding security, and ultra-low costs when executing trades.
Serum DEX’s market-making power ensures that each and every SolStreet fund can be developed around its own unique trading strategy — all counting on seamless swaps without liquidity concerns.
The SolStreet team is committed to building further integrations with Solana DeFi ecosystem partners to expand the realm of what’s possible for decentralized fund management. WAGMI!
Solana + Wall Street = SolStreet
SolStreet was started in June 2021, completed extensive testing and proof of concept, and launched to Solana Mainnet on December 31. SolStreet will now commence a funding round.
The team behind the protocol is composed of seasoned degens from ranging backgrounds, and a technical team with an impressive track record; recently winners of the Orca Prize at the 2021 Solana Season Hackathon. SolStreet is also seeded and incubated by Invictus, a crypto-asset management firm with multiple 100x investments through their blockchain venture fund, Hyperion.
For more information and to get started as an investor or fund manager, visit the SolStreet website and litepaper, here.
More on Project Serum
Project Serum is a liquidity infrastructure protocol for DeFi protocols built on the Solana blockchain. It offers an on-chain central limit order book (CLOB) that gives developers access to matching services and shared liquidity across all protocols built on Serum.