{"id":80493,"date":"2023-11-04T00:17:56","date_gmt":"2023-11-04T04:17:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/a16z-backed-cryptocurrency-index-platform-unveils-v2\/"},"modified":"2023-11-04T00:18:01","modified_gmt":"2023-11-04T04:18:01","slug":"a16z-backed-cryptocurrency-index-platform-unveils-v2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80493","title":{"rendered":"A16z-Backed Cryptocurrency Index Platform Unveils V2"},"content":{"rendered":"<div>\n<figure id=\"attachment_127174\" aria-describedby=\"caption-attachment-127174\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127174\" class=\"wp-caption-text\">Source: Adobe \/ Postmodern Studio<\/figcaption><\/figure>\n<p>Alongside, a cryptocurrency index platform backed by venture capital giant Andreessen Horowitz (a16z), has launched its V2, aiming to take a decentralized approach to crypto investments using blockchain technology.<\/p>\n<p>The startup will allow crypto investors to gain exposure to a basket of the top 15 cryptocurrencies via a single token \u2013 AMKT \u2013 in a similar way as exchange-traded funds (ETFs) work in the traditional financial market, a report from The Block said.<\/p>\n<p>With its V2 release, Alongside fully migrates the product onto the blockchain, decentralizing key components of its offering.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u26a0\ufe0f Some Personal News \u26a0\ufe0f<\/p>\n<p>Today, we&#8217;re revealing the new and improved <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24AMKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AMKT<\/a>.<\/p>\n<p>It&#8217;s never been easier to get exposure to the crypto market \u2013\u2013 now including staked ETH.<\/p>\n<p>Here&#8217;s what&#8217;s new with <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24AMKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AMKT<\/a>, along with the launch of our Match program \u2193 <a rel=\"nofollow\" href=\"https:\/\/t.co\/cEfDOzE19L\">pic.twitter.com\/cEfDOzE19L<\/a><\/p>\n<p>\u2014 Alongside (@alongsidefi) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/alongsidefi\/status\/1720123413988004157?ref_src=twsrc%5Etfw\">November 2, 2023<\/a><\/p>\n<\/blockquote>\n<p>In traditional finance, ETFs often involve multiple participants handling various aspects of the fund, each charging their own fees.<\/p>\n<p>In contrast, Alongside\u2019s V2 reduces centralization and leverages the blockchain to offer a more cost-effective, decentralized, and globally available index product.<\/p>\n<p>According to The Block\u2019s report, the company believes this release will appeal to crypto investors seeking a more decentralized approach to investing across a range of tokens.<\/p>\n<p>The report added that Alongside\u2019s approach differs from other on-chain crypto funds by decentralizing the custody of assets, keeping it fully on-chain.<\/p>\n<p>In V1, the platform utilized a wrapped asset model with crypto exchange Coinbase as the custodian, but in V2 this has now been fully migrated onto the blockchain.\n<\/p>\n<h2>Decentralizing the fund\u2019s methodology<\/h2>\n<p>\nWhile Alongside has achieved some decentralization in terms of custody, it\u2019s still reportedly exploring ways to decentralize the methodology of the fund, including the rules that govern the composition of the fund.<\/p>\n<p>Ultimately, this aspect is left to holder governance, executed via a multisig arrangement where Alongside does not have a majority vote.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/blockchain-integration-a16z-backed-cryptocurrency-index-platform-unveils-v2.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe \/ Postmodern Studio Alongside, a cryptocurrency index platform backed by venture capital giant Andreessen Horowitz (a16z), has launched its V2, aiming to take a decentralized approach to crypto investments using blockchain technology. The startup will allow crypto investors to gain exposure to a basket of the top 15 cryptocurrencies via a single token [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":80494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-80493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A16z-Backed Cryptocurrency Index Platform Unveils V2 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe \/ Postmodern Studio Alongside, a cryptocurrency index platform backed by venture capital giant Andreessen Horowitz (a16z), has launched its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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