Iakov Levin, f0under of the defunct custodial crypto funding platform Midas Investments, has launched a brand new decentralized finance platform.
Locus Finance will give customers entry to excessive yield-bearing tokenized vaults, the corporate mentioned in a press release. Locus will initially provide three yield-bearing merchandise pinned on Ethereum staking, DeFi development and Arbitrum buying and selling.
“Traders don’t need to fear about blockchains, protocols, transaction prices, and day by day portfolio administration,” Levin mentioned in a press release. “They want particular publicity in a set-and-forget model. Vaults symbolize a novel strategy needed for maturing the retail yield market, permitting for optimum wealth technology for retail buyers.”
Based in 2018, Midas Investments amassed over $250 million property underneath administration at its top in 2021. Nevertheless, after market situations turned in 2022, Midas misplaced over $50 million.
Levin introduced the closure of Midas Investments in December of the identical 12 months.
