DHedge scales up on Polygon, integrates with SushiSwap

dHEDGE’s “v2” Polygon deployment boasts a SushiSwap integration enabling asset managers to access Sushi’s DEX and yield farming functionality.

Decentralized asset management protocol, dHEDGE, has launched its V2 deployment on Polygon. The new platform also boasts an integration with popular decentralized exchange, SushiSwap.

Speaking exclusively to Cointelegraph, dHEDGE’s Henrik Andersson highlighted v2’s new Guarded Open Access Transactions (GOAT) framework — which enables v2 users to access whitelisted DeFi DApps whitelisted by the dHEDGE decentralized autonomous organization (DAO).

Andersson emphasized that the GOAT framework will significantly increase the speed with which dHEDGE is able to launch new integrations with third-party protocols, stating:

“It's like a general framework for us to add support for DApps. Instead of having to build specific plugins or connections to DApps, we can use this framework to whitelist DApps.”

Launched in late 2020, dHEDGE’s first iteration exclusively allowed fund managers to speculate on assets provided by the Synthetix protocol. By contrast, v2’s GOAT framework allows fund managers to access the assets and services of any Ethereum Virtual Machine (EVM)-based protocol approved by the dHEDGE DAO, enabling asset managers to provide yield farming services for investors.

At launch, dHEDGE v2 will enable support for SushiSwap’s Polygon-based decentralized exchange and yield farms. The dHEDGE DAO is currently exploring other popular DeFi protocols for potential support.

Andersson noted dHEDGE’s DAO is currently looking into integrating with Aave, noting the decentralized money market would enable asset managers to borrow a wide variety of assets for shorting. He added that dHEDGE plans to launch its v2 platform on additional EVM-compatible chains, noting Eth2, Optimism, and Arbitrum as likely contenders.

Despite the expanded functionality, Andersson describes gas fee mitigation as the primary motivation behind dHEDGE v2, noting the steep fees associated with trading through the protocol on Ethereum’s layer-one.

dHEDGE launches tokenized index tracking its top 10-ranked traders

Coin Telegraph

Funds will be rebalanced across dHEDGE’s top-ranked fund managers monthly.

Decentralized fund management platform dHEDGE has launched a tokenized index that tracks its top-ranked traders.

An ERC-20 token will also be issued for the index on automated market maker DEXes in futur.

dHEDGE allows fund managers to launch actively managed investment pools powered by synthetic assets provided by Synthetix.

“What dHEDGE is trying to do is crowdsource the best traders on the internet, and if you can create an index out of that, [...] I think that’s tremendously powerful,” Apollo Capital chief investment officer and dHEDGE co-founder, Henrik Anderson, told Cointelegraph.

The new pool, dubbed “dTOP,” will rebalance funds across the platform’s top 10-ranked fund managers on a monthly basis. The bot will also cover gas fees incurred through rebalancing, with the dHEDGE DAO paying for gas.

The performance of dHEDGE’s hundreds of pool managers is scored using the Sortino Ratio. The risk-adjusted measure considers a pool’s performance relative to its size and risk profile, considering historic volatility both to the upside and the downside.

“What we’re looking for is a risk-adjusted measure — we think it is really important you not just look at the returns,” Anderson said.

The dHEDGE DAO provided $50,000 to seed the dTOP pool, with Anderson predicting the organization will invest more funds into the index in future. The pool has a 10% performance fee that is distributed among the month’s top asset managers relative to their weight in the index.

Since exiting stealth mode in July 2020, dHEDGE has attracted a TVL of $30 million and facilitated more than $400 million worth of trades.

Anderson indicated that more indices will be launched on dHEDGE in future, and noted that the project is currently exploring Optimism for layer-two scaling.

“The team is excited to continue to deliver value and expand the capabilities of the protocol,” he said.

dHEDGE

DHedge scales up on Polygon, integrates with SushiSwap

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