Staked has launched its newest service, the Robo Advisor for Yield (RAY), aimed at helping investors with ETH or DAI find investments that will give them the best returns.
With decentralized finance or DeFi taking the spotlight in the cryptosphere in recent months, Staked unveiled RAY, an automated service that will seek out high-yield investment opportunities for its users via smart contracts that will monitor their investments and allocate funds appropriately.
According to Coindesk, Staked CEO Tim Ogilvie revealed that RAY is for investors holding cryptocurrency and looking to better manage their investments.
“This product is targeted to people who hold ETH or DAI and want to earn yield on it,” Ogilvie said. “If you hold ETH, you can earn more ETH. If you hold DAI, you can earn more DAI.”
The newly-introduced service will allow users to put their crypto assets into a specific pool,with smart contracts doing the job of determining investments with the best yields.
As all investors in the crypto market are constantly looking out for the next best project, pooling their resources together into an asset-specific tool like the ones offered by Staked may be more advantageous to both investors and DeFi developers, as Staked has capital ready for investments in projects that may offer higher yields.
“We’re not necessarily saying we are going to beat the market. We’re just saying you’ll get the best of what a savvy watcher would get in the market,” Ogilvie added. “The vision we are building toward is the same level of sophistication the fixed income markets have in traditional finance”.
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