“I have a dream” I thought as GME was skyrocketing towards 400$ and Melvin Capital, Citron Research and other Hedge Funds where suffering from huge losses on a position that probably was only designated to get 1–2% of each funds performance. The tricky thing about short selling is and will always be that you can potentially loose an infinite amount by being short whereas being long you can only loose the amount you invest in. Gabriel Plotkin and Andrew Left had to feel that on their own skin. Even as experienced traders you can get bankrupt by a 4-sigma event like Gamestop. Or was it even a 5-sigma event? Luckily they are experienced, and cut their short at the end (or maybe where forced to by their prime broker). Even injecting 2.75bn $ hasn’t helped in the case of Melvin Capital.
Back to “the dream”, Hedge Fund 2.0. How about a Hedge Fund who is driven by their communities investment decisions. A voting platform, fully digital, driven by it’s decentralised community, the token holders. The Wall Street Bets Token (WSBT) will be the first blockchain solution used for investment decisions. WSBT Holders will be eligible to earn rewards based on successful investments, have privileged access to investment informations on the Wall Street Bets Hedge Fund and also privileged access to invest into a special share class with Zero Management Fees.
Private Sale is currently ongoing and Pre-ICO will take place in March. Team formation is also ongoing for the platform development and Q3 2021 the Testnet will go live with the plan to start the Hedge Fund by Mid 2022.
More information about the Token Sale you will find on www.wsb.cx.