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Luxembourg, 05 September 2024 – Fume, the leading blockchain-based fund administration platform, has successfully completed a one-year pilot phase for the on-chain administration of the CryptoSurfers Fund, part of an Alternative Investment Fund (AIF) registered in Luxembourg. This milestone represents a significant achievement in Fume’s journey to revolutionize fund management through blockchain technology.
Fume's one-year pilot of the CryptoSurfers Fund marks a major breakthrough in blockchain-based fund management. As part of this pilot, Fume utilized its on-chain protocol on a public test network to automate and simplify critical fund operations such as subscriptions, redemptions, and fee calculations. The pilot has proven the robustness of on-chain administration, achieving high levels of transparency, efficiency, and security while complying with Luxembourg's strict regulatory framework and delivering ample benefits to the fund.
"Completing this pilot confirms that on-chain administration is not only feasible but highly beneficial for fund managers and investors alike," said Riccardo Conti, CEO of Fume. "We’re excited to continue building on this success as we move from pilot to live deployment for all our clients."
Moving forward, the fund has been deployed on Arbitrum, one of the most prominent Layer-2 scaling solutions for Ethereum. The deployment of the CryptoSurfers Fund sets a new standard for efficiency and trust in the alternative investment space.
The CryptoSurfers Fund is part of an Alternative Investment Fund (AIF) registered in Luxembourg. The fund focuses on high-potential cryptocurrencies and decentralized finance (DeFi) projects with real-world financial use cases, high liquidity, and strong community support. The fund employs a multi-strategy approach aimed at outperforming Ether and Bitcoin over the long term by diversifying across all major crypto sectors. Its core strategy is medium- to long-term, with discretionary investments in liquid digital assets, early-stage tokens, and non-fungible tokens (NFTs). With a focus on fundamental analysis and monthly rebalancing, the fund also incorporates short-term opportunistic trades to optimize the risk/reward ratio. Moreover, all subscriptions and redemptions are processed via Fume’s protocol using stablecoins.
Founded in 2023 and headquartered in Ticino, Switzerland, Fume is an innovative on-chain fund administration platform designed to address inefficiencies in traditional fund management. By leveraging blockchain technology and smart contracts, Fume automates critical processes such as subscriptions, redemptions, and NAV calculations, removing intermediaries and reducing operational costs. Fume is fully compliant with regulatory frameworks in top jurisdictions like Switzerland and Luxembourg, making it the go-to platform for fund managers looking to adopt blockchain solutions.
For more information about Fume, visit: https://www.fume.finance/
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