Investing and trading, two of the ancient traditional business words, are not unique to the crypto community. They’ve been in existence way before the launch of the premier cryptocurrency Bitcoin in 2009. Even then, diversification of assets was a key mantra that all investors had to live with or else lose enormous funds to the various trading markets.
Assortment of assets, surprisingly, is that code that separates the advanced investor from an amateur. This is similar to how the crypto market works. Presently, investors are advised to live by these words “do your research [DYOR]” each time a new project is showing great prospect.
Whilst beneficial, DYOR is a tad bit difficult and involves time. Keeping up Telegram groups, crypto Twitter, Reddit, Quora, Launchpads, and other platforms requires time and effort, two scarce commodities.
Variety of Crypto Assets — a Prospective Investor’s Bottleneck
While most traders may have willingly or unwillingly tried their hands on diversification of crypto assets through the course of their crypto expedition, it, most of the time, takes an ugly turn when they find out how riveting researching for new projects is.
The crypto world, unlike the traditional financial investment system, is replete with assets of different classes, making it a bit difficult for prospective investors to carry out proper research. The existing assets vary in market capitalization, community maturity, project idea, blockchain type, consensus mechanism type, transparency, smart contract compatibility, and a ton of others.
The increasing availability of distinctive factors made possible by the growing number of trends in the crypto market can become overwhelming, resulting in a lack of proper due diligence and imminent loss of funds.
Traders with ample knowledge of the crypto market have also had to deal with this major problem. Albeit well versed, some have become way over their head and have had to settle for some of the most popular coins — Bitcoin, Ethereum, Litecoin, BNB, et al. Deeper reflection shows that traders are oftentimes in a lose-lose dilemma — spread your portfolio and run the risk of losing funds because most of the projects do not have prospects or hold only a few coins and run the risk of selecting them poorly. It’s always a lose-lose situation.
This is where the YDragon platform comes in.
Piggybacking on the existing traditional investment model, YDragon integrates blockchain technology which helps traders invest in a variety of crypto assets and yield farming protocols at once.
While taking the traditional financial investment system, YDragon does away with the need for a portfolio manager, relying on smart contracts to make financial decisions. Unlike the traditional system where assets work primarily for the benefit of fund management firms, this advanced crypto investment platform will distribute yield farming rewards to investors.
YDragon’s first steps into the world of indexes will see the platform bring together what it calls “the B5”, the top 5 projects on the Binance Smart Chain [BSC] which is an advanced and efficient alternative to the Ethereum network. The index, according to the team behind this project, will feature all of the top 5 most reputable projects on BSC.
“Diversification is a key tenet and mantra of the investor code and with the protocol we are building, we will give investors a higher chance of sticking to this code.” said Raiden, YDragon CEO.
In addition to a wide range of yield farming protocols to choose from, YDragon will farm rewards for some of its dedicated investors who have staked a certain amount of money for a specific period.
YDragon’s second step into the index space will see the platform offer these amazing opportunities to additional blockchains like Polygon, Polkadot, Avalanche, and a host of others. To gain exposure to the YDragon ecosystem, investors will need to own YDR tokens, the platform’s native token.