Founder of Defunct Midas Investments Launches New DeFi Platform, Locus Finance, Offering High Yield-Bearing Tokenized Vaults
Iakov Levin, the founder of the now-defunct custodial crypto investment platform Midas Investments, has recently embarked on a new venture in the world of decentralized finance. His latest project, Locus Finance, is a DeFi platform that aims to provide users with access to high yield-bearing tokenized vaults.
Locus Finance announced its vision of offering three distinct yield-bearing products centered around Ethereum staking, DeFi growth, and Arbitrum trading. In a statement, Levin emphasized that investors are seeking simplicity and convenience, preferring to avoid concerns related to blockchains, protocols, transaction costs, and daily portfolio management. The vaults introduced by Locus Finance are designed to cater to this need, enabling a ‘set-and-forget’ approach. Levin believes that these vaults present a crucial step in the evolution of the retail yield market, facilitating optimal wealth generation for retail investors.
Midas Investments, which Levin founded back in 2018, enjoyed significant success, amassing assets under management worth over $250 million at its peak in 2021. However, the tides turned in 2022 as market conditions took a toll, resulting in a loss of over $50 million for Midas. Consequently, Levin made the decision to close down Midas Investments in December of the same year.
Now, with Locus Finance, Levin is embarking on a fresh journey in the DeFi space, aiming to offer users a platform that simplifies high-yield investments while empowering retail investors to thrive in the crypto market.
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