SolStreet Protocol Announces $600,000 Prize Pool for Top Traders
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SolStreet is preparing to disrupt the asset management industry by introducing a state-of-the-art protocol that will allow anyone to launch a decentralized investment fund.
Both aspiring and professional fund managers will have the opportunity to provide the most profitable trading strategies to a wide range of customers by setting up their own decentralized, non-custodial investment fund. For the first time ever, retail investors will be able to take advantage of financial instruments and strategies that were only available to high-net-worth individuals.
As SolStreet prepares to eliminate the costly burdens of intermediaries and facilitate merit-based asset allocation, the blockchain project is launching a series of devnet trading competitions to better understand what features fund managers and investors need the most. The goal is, through constant design iteration, to create an unparalleled experience for fund managers and investors.
Dubbed Money Never Sleeps, the contest will run over a 12 week period starting on the 2nd of August, with the inaugural Wolf of SolStreet competition running over the first two weeks. The top 500 performers in three different categories — best overall return on investment, best sharpe ratio, and most individual investors — will receive fabulous prizes in the protocol’s governance token, STRT (read the token’s Litepaper here).
SolStreet has allocated a total of 1,000,000 STRT to this competition, valued at approximately $600,000. Winners of each category will also receive a unique SolStreet NFT as an added incentive for being part of the pioneer protocol users.
Registration is now open until the 2nd of August when the first competition, Wolf of SolStreet, begins.
Backed by Invictus Capital, SolStreet is set to create the best decentralized fund management protocol. Both companies have established a synergistic relationship that makes for a good marriage between concept and infrastructure.
Invictus, with around $150 million in AUM and a community of over 20,000 investors, will be amongst the first users of the SolStreet protocol, providing valuable feedback for the further development of the non-custodial asset management protocol built on Solana.