The BiShares community has spoken and the results were explosive. A new BiShares decentralized exchange traded fund (dETF) called Chain Fund was launched, offering an opportunity for potential buyers looking to diversify across the cryptosphere into the native tokens of some of the strongest chains.
The release of this fund comes after the launch of the genesis funds, which were the biT10 (the Binance Smart Chain native top 10) and the biApe (ApeSwap fund). The BiShares community craved a fund that comprised the native coins of different chains. It’s been delivered.
What dETFs mean for the community
All dETFs enable crypto enthusiasts to diversify with the click of a button as the technology implied in the smart contracts allows them to purchase all of the underlying assets in the fund and hold them in a single token. The biChain fund is composed of Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Fantom (FTM), Polygon (Matic) and Binance USD (BUSD), with a 1% allocation of BiShares’ governance token, BISON. BiShares developers have added stablecoins into this fund to allow users the unique ability to arbitrage the price of the token and the movements of the underlying assets more aggressively. This fund has a single minting feature as well as a multi-mint. The possibility to mint the fund token with Apeswap (BANANA) tokens was also added to satisfy a large ApeSwap following.
BiShares is now onboarding other major decentralized exchanges and plans to release partner funds in the weeks ahead. Some notable names that have shown interest are Wault, JetFuel and Wall Street Bets. Additionally, two other major DEXs will be named at a later date after the partnerships are 100% solidified. The DEX fund will include some of the highest quality DEXs in the industry.
Upcoming fund launches
Plans for the upcoming fund launches also include the FOMO (fear of missing out) fund, where tokens with the most “moon potential” will be audited and placed for a wild high risk or high reward atmosphere. This fund is not for the faint of heart: It’s very suitable for those who seek wild swings and high returns.
The most awaited and anticipated fund will be released on Sept. 15 — the game fund. This instrument will be fully packed with gaming tokens and targets the fund to grow to over 10 tokens after the launch. Play-to-earn games are one of the absolute major trends in the crypto space and the developer team is ready to deliver.
Lastly, BiShares will be launching interest-bearing and farming funds — imagine buying the best farms all in one click and receiving the yields. It is currently working on a partnership to distribute these products in October.
Please see the roadmap below for the full path of where the bison are roaming.