According to an announcement from the platform’s team, Valio, a decentralised asset management platform, launched publicly. The new protocol is expected to allow users to have their funds managed by professional traders without the need for any custodians.
Sources revealed that initially, Valio will be launched on the Abitrum and Optimism networks. Earlier, Valio is supposed to have launched in a whitelisted version on July 24,2023 but the new public version launched on August 7, 2023, does not require managers to be approved in advance, Cointelegraph added.
It is believed that all the assets are stored in smart contracts and cannot be removed by the money manager. Also, the DeFi applications that a manager can invest is expected to have been limited to a predetermined list. It is expected that Valio is integrated with GMX, a perpetual trading platform on Arbitrum and 0x, a decentralised exchange protocol on Optimism.
Furthermore, Karlis, founder, Valio, opposed that apps such as Valio might represent the future of asset management, as they will attract the “Wall Street Bets” crowd that is interested in “actual success,” Cointelegraph concluded.
(With insights from Cointelegraph)