Introducing Elon’s Ape, a Novel Celebrity-Based Investment Strategy

Introduction

Elon Musk is the world’s richest man and crypto’s ultimate influencer. The product architect of Tesla, “former CEO” of Dogecoin, and the champion of Bitcoin’s inevitability is famous for his market moving tweets. He has leveraged his unique position in tech to get Tesla to buy $1.5b in BTC, and minted overnight millionaires with his ironic meme shilling of DOGE.

The Meme

In January, Elon Musk changed his bio. It simply read “#bitcoin”, with an auto-generated logo of the world’s largest cryptocurrency. He then accompanied it with a tweet that contained 5 famous words. “In retrospect, it was inevitable”. The crypto community lost their minds. Another milestone in mainstream acknowledgement of our movement.

Investing Methodology

This uncomplicated strategy is a long-only basket of the 3 tickers most closely associated with Musk. User deposits will be allocated evenly into ERC20 versions of Tesla, Bitcoin, and Dogecoin. This portfolio is themed around the popularity of one eccentric billionaire.

Allocations

In the form of sTSLA, by Synthetix, which creates synthetic stock tokens that reflect the prices of real world equities.

In the form of WBTC, an Ethereum compatible version of Bitcoin, by Bitgo.

In the form of renDOGE, an Ethereum compatible version of Dogecoin. Dogecoin exists on its own blockchain, and RenVM makes cross-chain assets possible for DeFi.

Growth

This strategy has outperformed almost everything in the market, thanks to the meteoric rise of DOGE this year. The graph below gives a backtested look at the performance of this basket from Jan 2020 to the present.

Comparing the performance of Elon’s Ape strategy against BTC, and US equities, represented by the S&P500

Risks

Take everything you know about tech and finance and throw it out of the window. This degen level vault is not designed with any sound investing principles in mind, and is driven purely by Twitter hype from Elon Musk. You’re buying into an often heavily shorted and controversial stock, as well as a coin created as a complete joke. Expect extreme volatility. Past performance is not an indicator of future success.

About DAOventures

DAOventures is a DeFi robo-advisor and automated money management platform. Imagine “Robinhood for DeFi”. It is our mission to make DeFi simpler, accessible & inclusive. We believe in creating a simpler, more accessible, and more open world that is permission-less, inclusive, and guided by our DNA of continuous learning, integrity, and transparency.

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Your smart money manager for DeFi. With smart contracts and automated robo-traders, invest in the best performing DeFi assets for most optimized return.

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