At DeFi HiFi our analysts are constantly looking to identify and capitalise on new emerging trends in the DeFi space.
We’ve recently been exploring the burgeoning asset management protocol side of DeFi, and believe we have identified its future star: DEXTF, an asset management protocol that empowers anyone to mint, trade, redeem and provide liquidity on non-custodial oracle-less tokenized portfolios, as well as providing intricate structured products to help institutions and high net worth individuals hedge and manage risk.
Onboarding institutions
The most notable difference between DEXTF and its competitors, in addition to its intricate structured products, is that it is already working with multiple institutions. As recently reported by Hubbis, one of the leading Asset Management & Wealth Management publications in Asia, DEXTF has partnered with two Singaporean funds under the umbrella of Mindful Wealth, a boutique Wealth Management firm with around SGD 600 million assets under management (AUM).
These funds (Variable Capital Company VCC, & Impact Global Ventures VCC) will work with DEXTF to create non-custodial oracle-less tokenized portfolios, utilizing two blockchains that the DEXTF protocol runs atop:
- Ethereum: for entities and individuals that require or prefer less regulation; and
- Algorand: for entities and institutions that require more regulation than is typically required for corporations seeking exposure to DeFi.
The two Singaporean Funds are expected to use both the Ethereum and Algorand instances in their work, whereas the Tier 1 Investment Bank that DEXTF is currently in the process of onboarding will be principally working on Algorand.
Both blockchains will only require one token, DEXTF, and eventually the blockchains will be fully interoperable, with clients and portfolios being able to move between Ethereum and Algorand as required.
Valuation
Our analysts see a vast amount of potential upside for DEXTF. We particularly like the valuation proposed by Malbec, an ex-Wall Street analyst, that utilises TVL and a Dividend Discount Model (DDM) to project a price of $21 for 2021 (x11+ from current price of $1.80) and $336 for 2023 (x186+ from current price of $1.80).
DEXTF is our current pick for 2021 DeFi overperformer for the following reasons:
- Massively experienced team which includes ex-Mckinsey and ex-Google staff.
- Hugely talented and highly regarded advisor, economist Alex Kruger.
- The only project of its kind right now onboarding genuine blue chip institutions.
- Highly regarded multi-chain protocol about to launch V2, along with its own highly specialised and sought-after suite of structured products.
- Highly attractive yields that should continue to lead to a massive increase in TVL, especially as more institutions are onboarded, consequently continually legitimising the project further:
Please continue to follow us as we seek to identify future star performers and future trends in the world of DeFi.
