Not sure if community has heard of Dhedge, but they are likely going to become the top decentralized hedge fund protocol. They already have many many big names involved in it as well.
- There’s a very clear and accurate leaderboard that tracks daily, weekly, and monthly gains performance from all managers.
- Its very easy to invest
- We can earn DHT tokens for partaking in the system.
The platform is also very safe in how it’s designed.
I was thinking maybe we can create a new strategy for IDLE for this. The IDLE governance can vote and select which hedge managers to use for investment as well.
I don’t think it will take much work to implement something like this right? To do batch deposits daily to hedge fund managers from IDLE protocol. Probably more to it than that, but figured I’d share.
Also, someone did mention in chat that IDLE is kind of a hedge fund in way, since they move user funds around, getting users the best yield 24/7. BUT technically it’s not a hedge fund lol. So please let me know below if not a good fit, so I can remove the post from the forum. Thanks.
But hedge funds focus more on trading, short selling, leverage trading, etc…which IDLE doesn’t do. Even if we don’t add this as one of the strategies for users, maybe we can use this to our benefit once were able to use IDLE as collateral on MAKER to mint DAI. Then we take those DAI and turn it into sUSD which I think is needed on the platform and let the hedge fund make us gains on the all the DAI. Then we use all those gains to buyback IDLE from open market and burn it. As the the IDLE token supply drops, the more IDLE will be worth, which means the more DAI we can mint down the road, which means more we can funnel to the hedge fund, which means the burns continue to get larger and larger.
Here is their site if you want to check it out.