Baekdu Technologies Raises $1Mln from Mirae Asset Ventures

 Continuing Its Lead in the DeFi System Trading Industry

SEOUL, South Korea, Nov. 05, 2021 (GLOBE NEWSWIRE) — Baekdu Technologies Inc. managed to secure a bag of $1 million from Mirae Asset Ventures in its pre-A round. Baekdu is one of the two companies that Mirae Asset Ventures invested with its proprietary fund this year.

Baekdu Technologies Inc. is a blockchain hedge fund that invests in ways 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 DeFi-specific strategies. Strategies include: cross-chain arbitrage, carry trades, yield farming, LP fee·funding fee·interest accumulation, and other tech-focused approaches including flash loans. It is one of the very few companies pursuing system trading in the DeFi space along with ParaFi Capital, leading the new era of hedge funds.

The company focuses on absolute returns, so far having proven to show positive weekly returns since its inception. Returns were strongest in the bear markets. Its fully automated system trading program runs 24 hours a day, ceaselessly raking in on opportunities in the DeFi space. Baekdu currently uses over 50 dapps.

Since the Covid-19 pandemic, there have been many institutional investors jumping onto the crypto space. Overbooked with such demand, Baekdu is expanding its client list in the US and Japan. Notably, the proportion of institutional clients are on a steep rise.

In the interview, CEO Won Suk Lee reaffirmed “we are focusing on defi-specific strategies that traditional institutions are unfamiliar with, giving us a head start,” emphasizing that “the way of investing is changing.”

Mirae Asset Venture Investment is a South Korean venture capital specialized in incubation, buyout, growth, and cross-border investments. Mirae Asset’s subsidiary Horizon ETF launched the world’s first inverse 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 public decentralized blockchain network. Because DeFi is based on an open ledger it can facilitate peer-to-peer transactions, unlike the traditional approach where middlemen such as banks are involved. In DeFi, users can borrow, save, invest, and trade as in the traditional system. The blockchain enables smart contracts that can code in binding agreements between buyers and sellers, and borrowers and lenders.

Social Links:

Links on socials: https://link.medium.com/wiWLLbPTQkb

Media Contacts:

Company: Baekdu Technologies Inc.

Contact: Won Suk (Wayne) Lee

E-mail: contact@baekdutech.com

Website: https://www.baekdutech.com/

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.
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