Ofin : De-Fi Portfolio Manager

Ofin : De-Fi Portfolio Manager

By FarewelltoMinds | Farewell2Minds | 17 Sep 2020


Edit: I no longer believe in this project. Too many red flags. I sold. DYOR


Ofin : De-Fi Portfolio Manager

I was reading this article about the need to find De-Fi coins with actual use-cases. I agree completely.

One project I think that could actually take off is Ofin, exactly because it has a use-case.

Ofin is a decentralized finance project that aims to allow users to invest in the funds of a more experienced trader.

This is a common system in more contemporary stock markets, where your financial planner takes your investments in manages them in a portfolio.

With Ofin, the process is non-custodial, meaning that the funds are handled through smart contracts. The assets will all be whitelisted beforehand, and the assets are allocated between fixed liquidity pools. Think balancer pools, but using whitelisted assets for the purposes of traders making gains with your portfolio.

Ofin aims to be multi-chain. Starting with ERC20 tokens, the team hopes to later move to other chains like Tron or the Binance Smart Chain.

Ofin will be using 0x API, using the 0x Mesh and other liquidity sources like Uniswap Oasis, Kyber and more. Using these as pools, they will navigate the many different liquidity sources, prices and fees to find the lowest prices and make the best trades.

Users will be able to choose a pool that they find the most profitable. They deposit their investments and receive investment pool tokens. The trader handling the pools (hopefully) make profitable trades using those assets. Users can then withdraw their assets when they reach the desired profit.

The website claims that they are backed by leading companies, but the team insists they are unable to name names, by order of NDAs.

I see this project as taking off. Not only is there a tiny circulating supply right now of just 1.3 million tokens out of 7 million, but they also have a partnership with Ferrum network.

Forget about the 'yield farming' nonsense. Ofin is a decentralized portfolio manager system. 

But hey, DYOR. This isn't financial advice. 

 

Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0x3b4caaaf6f3ce5bee2871c89987cbd825ac30822&outputCurrency=ETH

Telegram: https://t.me/ofin_io

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FarewelltoMinds
FarewelltoMinds

Trying my best to stay rational in an irrational world.


Farewell2Minds
Farewell2Minds

Crypto news, unheard of alt coins, investments as gamblings and self-hating decentralized financial musings

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