Baekdu Technologies Raises $ 1 Million From Mirae Asset Venture, C …

(MENAFN- ACN NewsWire) Baekdu Technologies Raises $ 1 Million from Mirae Asset Venture, Continuing Advance in DeFi Systems Trading Industry

Seoul, South Korea, November 8, 2021 – (ACN Newswire) – Baekdu Technologies Inc. has secured $ 1 million pre-A financing, led by Mirae Asset Venture Investment. Baekdu is one of two companies that Mirae Asset invested through its owner fund this year.

Baekdu Technologies is a blockchain hedge fund that invests only present in DeFi. A blockchain hedge fund differs from crypto hedge funds in that crypto hedge funds invest in digital assets but use traditional investment methods, while blockchain hedge funds use blockchain technology and develop smart contracts to implement solutions. DeFi specific strategies. Strategies include: cross-chain arbitrage, carry trades, yield farming, LP fees Funding fees Interest accumulation and other technology-driven approaches, including flash loans. It is one of the very few companies to continue trading systems in the DeFi space with ParaFi Capital, leading the new era of hedge funds.

The company is focused on absolute returns, having so far demonstrated positive weekly returns since inception. Yields were strongest in the bear markets. Its fully automated system trading program operates around the clock, continually looking for opportunities in the DeFi space. Baekdu currently uses over 50 dapps.

Since the Covid-19 pandemic, many institutional investors have jumped into the crypto space. Overbooked with such demand, Baekdu is expanding its client list in the United States and Japan. In particular, the proportion of institutional clients is increasing sharply.

In an interview, Baekdu CEO Won Suk Lee reaffirmed “we are focusing on challenge-specific strategies that traditional institutions do not know, which gives us a head start”, stressing that “how to ‘investing is changing.

Mirae Asset Venture Investment is a South Korean venture capitalist specializing in incubation, buyout, growth and cross-border investments. Horizon ETF, a subsidiary of Mirae Asset, launched the world’s first Reverse Bitcoin ETF in Canada in 2021. Mirae Asset also invested in FalconX this year.

About DeFi

Decentralized Finance (DeFi) is an ecosystem of financial products on a decentralized public blockchain network. Because DeFi is based on an open ledger, it can facilitate peer-to-peer transactions, unlike the traditional approach where intermediaries such as banks are involved. In DeFi, users can borrow, save, invest and trade just like in the traditional system. Blockchain enables smart contracts that can code into binding agreements between buyers and sellers, and borrowers and lenders.

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Baekdu Technologies Inc.
Won Suk (Wayne) Lee

THE SOURCE : Baekdu Technologies Inc.


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