# Managed DeFi Hedged Pools
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*Documents here are currently draft versions.*
*More docs are being prepared and will be added continuously. Information contained here may be incomplete, inaccurate, or out of date. Built by a global community, we encourage community members to help edit on GitHub.*
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iob.fi DAO is a DAO-governed, non-custodial, and on-chain DeFi **hedged pool manager**. iob.fi enables both **retail investors** and **institutional traders** the opportunity to invest in *all asset classes* including cryptos, stocks, commodities, and indices in one place with just a **Web3 wallet** *without border or fiat currency restriction*.
The project was launched as iob.vc in July 2017 and was rebranded as iob.fi DAO in October 2020. iob.fi DAO's Web3 layer enables institutional trading systems to connect to DeFi platforms through smart-contract-native interactions, solving some of the incompatibility issues between high-frequency trading (HFT) and cryptocurrency on-chain trading.
## Why this is a big deal:
iob.fi DAO is committed to making sure that our traders in the future will have **no longer need to** set up trading accounts all over the world (as we have been doing until now): New York, Chicago, Shanghai, London, Frankfurt, Sydney... nor is there a need to make foreign currency exchanges to fund those accounts.
## What you will find here:
The frequently asked questions, iob.fi DAO and Defy DAO instructions, fund documentation and instructions, iob.fi liquidity pools on various exchanges, and developers' resources.
# Legal notice and disclaimer
## NOT available in the United States
The products described in this material are available for purchase and sale only in jurisdictions outside the United States in which such purchase and sale are permissible under the local applicable law. These products may not be purchased or sold by any person located or any entity organized in the United States, by any person whose principal residence is in the United States, or any entity with its principal place of business in the United States. If it is determined that any United States person, as defined in the preceding sentence, has purchased or sold these products, such persons will be subject to actions for rescission of the transactions and for damages.
## Substantial risk
The products described in this material involve substantial risk and this material should not be the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. This material does not constitute the provision of advisory services regarding investment, tax, legal, financial, accounting, consulting, or any other related services, nor is a recommendation being provided to buy, sell or purchase any product.
## NOT verified
The information provided on [iob.fi](https://iob.fi), [iobots.pro](https://iobots.pro), and other iob affiliate websites has not been verified and we make no representation or warranty as to its accuracy, completeness, or correctness. This information reflects the information available as of the date of this material and is subject to change at any time without notice. iob.fi DAO, Defy Hedged Pool DAO, and IOB LLC will not be liable whatsoever for any direct or consequential loss arising from the use of this material or its contents.
# Terms and conditions
## ioBots and trading signals
ioBots website is a collection of market data, information, and trading tools. It offers no investment advice or asset management services.
Data is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers. iob.fi does not verify any data and disclaims any obligation to do so.
iob.fi, its data or content providers, the financial exchanges, and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions, or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither iob.fi nor any of our information providers will be liable for any damages relating to your use of the information provided herein. As used here, “business partners” does not refer to an agency, partnership, or joint venture relationship between iob.fi and any such parties.
You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. All data and information are provided “as is” for personal informational purposes only, and is not intended for trading purposes or advice. Please consult your broker or financial representative to verify pricing before executing any trade.
Either iob.fi or its third-party data or content providers have exclusive proprietary rights in the data and information provided.
## NO INVESTMENT ADVICE
The Signals are for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our site constitutes a solicitation, recommendation, endorsement, or offer by iob.fi or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
All content, including cryptocurrency Signals, on this site, is the information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. iob.fi is not a fiduciary by virtue of any person’s use of or access to the site or content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on the Site before making any decisions based on such information or other content. In exchange for using the site, you agree not to hold iob.fi, its affiliates, or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other content made available to you through the site.
## INVESTMENT RISKS
There are risks associated with investing in securities. Investing in cryptocurrencies, stocks, bonds, exchange-traded funds, mutual funds, and money market funds involve risk of loss. The loss of principal is possible. Some high-risk investments may use leverage, which will accentuate gains & losses. Foreign exchange (forex) investing involves special risks, including greater volatility and political, economic, and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.
## TRADING RISKS
This website is meant to be informational and should not be used as trading advice. All traders should gather information from multiple sources, and create their own trading systems. iob.fi makes no guarantees related to the claims contained herein. Please trade responsibly.
# Privacy Statement
iob.fi DAO is committed to protecting the privacy and accuracy of confidential information to the extent possible, subject to provisions of state and federal law per country and worldwide. If you make use of our services, you state that you have read, understood, and agreed with our privacy policy.
## **We care about your privacy**
### **Cookies**
If you leave a comment on our site you may opt-in to save your name, email address, and website in cookies. These are for your convenience so that you do not have to fill in your details again when you leave another comment. These cookies will last for one year.
If you have an account and you log in to this site, we will set a temporary cookie to determine if your browser accepts cookies. This cookie contains no personal data and is discarded when you close your browser.
When you log in, we will also set up several cookies to save your login information and your screen display choices. Login cookies last for two days, and screen options cookies last for a year. If you select “Remember Me”, your login will persist for two weeks. If you log out of your account, the login cookies will be removed.
If you edit or publish an article, an additional cookie will be saved in your browser. This cookie includes no personal data and simply indicates the post ID of the article you just edited. It expires after 1 day.
IOB makes use of Google Analytics which is a third-party cookie that tracks certain information to improve our services.
### **Comments**
When visitors leave comments on the site, we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection.
An anonymized string created from your email address (also called a hash) may be provided to the Gravatar service to see if you are using it. The Gravatar service privacy policy is available here: . After approval of your comment, your profile picture is visible to the public in the context of your comment.
### **Media**
If you upload images to the website, you should avoid uploading images with embedded location data (EXIF GPS) included. Visitors to the website can download and extract any location data from images on the website.
### **The use of data**
We do not sell, lease, rent, or otherwise disclose your personal data to any third party. Visitor comments may be checked through an automated spam detection service.
We do use your data for the following reasons:
* To comply with the law and governmental requests
* To prevent fraud
* To optimize your experience on our website
* To record and retain your account on the SiP platform
The information can be collected automatically through cookies or filled in by yourself when creating an account. There is the information we do not collect such as private keys or wallet seed. Do not trust anyone or any message you receive that are asking for this kind of private information. If something like this occurs on our website please notify us immediately.
If you leave a comment, the comment and its metadata are retained indefinitely. This is so we can recognize and approve any follow-up comments automatically instead of holding them in a moderation queue.
For users that register on our website (if any), we also store the personal information they provide in their user profile. All users can see, edit, or delete their personal information at any time (except they cannot change their username). Website administrators can also see and edit that information.
If you have an account on this site or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.
### **What happens if the privacy statement changes**
This Privacy Statement was last revised on 01-10-2020. We may change this Privacy Statement at any time and for any reason. We encourage you to review this Privacy Statement each time you visit the website.
If we decide to make a significant change to our Privacy Statement, we will post a notice on the homepage of our website for a period of time after the change is made.
### **Privacy of third parties**
IOB may contain links to other websites. Some of those websites may be operated by third parties. We provide the links for your convenience, but we do not review, control, or monitor the privacy practices of websites operated by others. We are not responsible for the performance of websites operated by third parties or for your business dealings with them. Therefore, whenever you leave this website, we recommend that you review each websites’ privacy practices and make your own conclusions regarding the adequacy of these practices.
Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website. These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.
### **Contact**
If you have questions or comments about this Privacy Statement, please reach us on our Telegram and Discord channels.
# Corporate GDPR Statement
In May 2018, the EU[ General Data Protection Regulation (GDPR)](https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32016R0679) replaces the existing 1995 EU Data Protection Directive (European Directive 95/46/EC).
iob.fi DAO currently complies with applicable data protection regulations and is committed to GDPR compliance across its relevant services when the GDPR takes effect May 25, 2018. iob.fi DAO has a dedicated internal team made up of cross-functional stakeholders overseeing iob.fi DAO’s GDPR readiness. iob.fi DAO’s ongoing compliance efforts include:
### **Assessment**
iob.fi DAO has reviewed where and how our relevant services collect, use, store and dispose of personal data and has updated policies, standards, governance and documentation where needed. iob.fi DAO is dedicated to keeping such due diligence current and carrying out re-assessments periodically and/or as required by changed circumstances.
### **Contractual Commitments**
Working in conjunction with our partners and customers, iob.fi DAO is reviewing our contractual commitments and updating as needed to directly address GDPR requirements. iob.fi DAO has released a Data Processing Addendum (DPA) with provisions to assist our partners and customers with their GDPR compliance.
### **Cross-border Data Transfer**
In addition to ensuring iob.fi DAO’s contractual commitments meet the requirements to legally transfer data from the EU to the rest of the world under applicable law, iob.fi DAO plans to certify under the EU-US Privacy Shield Framework.
### **Employee Training and Awareness**
All iob.fi DAO employees must complete data privacy and security training. iob.fi DAO will supplement existing training modules with GDPR-specific content. In addition to these training requirements, iob.fi DAO conducts ongoing awareness initiatives on a variety of topics, including data protection, security.
### **iob.fi DAO Investors, Partners, and Customers**
Compliance with the GDPR requires a partnership between iob.fi DAO and our partners and customers in their use of applicable iob.fi DAO services. In this context, iob.fi DAO generally will act as a data processor and our partners and customers generally will act as data controllers. Working together, we hope to explore opportunities within our relevant service offerings to assist our partners and customers meet their GDPR obligations. In the meantime, iob.fi DAO encourages partners and customers to independently familiarize themselves with the GDPR.
# On diversification and risk control
iob.fi DAO hedged pools give retail investors exposure to cryptos, forex, commodity futures, and stocks.
## Why we diversify?
Most fund managers state that they diversify to reduce portfolio risk. That is not the reason for us to trade as many classes of assets as possible.
We diversify using several DeFi platforms for the following two main reasons:
1. **More trading opportunities:**
* Trading cryptos as an asset class gives the trader the benefit of only one market. In the past five-plus years since our fund managers started trading cryptocurrencies, the crypto markets are highly correlated most of the time. Almost all of them move up and down at the same time. Furthermore, the market moves sideways 70-86% of the time.
* We trade both long (buy) and short (sell) positions during the relatively rare periods the market is trending. All of our trading strategies are determined by Market Types and we stay away from choppy markets because we are not good at catching the relative highs and lows of small movements.
* The result is that we were out of the market most of the time.
* By adding stocks and commodity futures to the trading baskets, we have more opportunity to stay in one of the moving markets.
2. **Providing easy access to multiple-asset classes to overseas traders:** Mos of our clients have existing investment portfolios and are seeking more exposure to assets not available in their home country. However, it has always been expensive for institutional traders, and basically impossible, for smaller retail traders to have global market access. The cost is too high, plus it is geographically and politically impossible for most of the people in less developed countries. Through [smart-contract-enabled synthetic assets](https://docs.iob.fi/getting-started/faq#defi), decentralized finance platforms are offering anyone a chance to trade stocks, commodity futures, and any liquid assets in the world.
## What about risk control?
Using diversification as the means of risk control is ineffective. It is often used as an excuse for incompetence.
Risk control is the starting and the endpoint of all of our trading strategy and portfolio management decisions. We use different risk control methods as the main ways to achieve trading objectives.
* Every trade goes through the Risk Engine before it was generated by the Decision Engine, and it is the Risk Engine that gives the Order Server the final approval before an open order is sent.
* After a position is established, the Risk Engine actively monitors the position against its original trading objective with a continuous new price feed.
In short, we consider risk control the single most important factor in trading success more than anything else
# FAQ
## General Questions
### What is iob.fi DAO?
iob.fi is a decentralized autonomous organization (DAO) hedged pool manager and a DeFi technology developer.
### What does iob.fi DAO do?
iob.fi manages multi-asset-class hedged pools aiming to achieve superior returns with controlled max drawdowns.
Unable to find a Web3 solution in order to interact with the various DeFi platforms by our "black box" trading system, we have decided to develop one, the Prodefy platform, for our quantitative trading platform. Other institutional traders can use it too as we are developing Prodefy as an open-source project in partnership with several Wall Street veterans.
### Why iob.fi DAO?
iob.fi seeks consistent capital appreciation. With over 20 years in managing various types of funds totaling billions of dollars, iob.fi founding members have developed a cryptocurrency trading system called ioBots. ioBots is a set of rule-based algorithmic trading strategies, order, risk, and asset management tools.
In the past 12 months, ioBots has demonstrated above-average returns in real-time, real-money trading while being constantly developed. Changes were made daily sometimes. The ioBots-generated trading signals have been tracked in real-time on [iobots.pro](https://iobots.pro). If the signals automatically invested with $10,000 each time, the model portfolio would have made over 150% in the first 12-month period. ioBots has added new markets continuously and gradually. The original 6 starting markets (crypto pairs) have demonstrated gains ranging from 183.9% to 597.35% for the first 12 months.
### **Who is behind iob.fi DAO?**
A team of financial and blockchain veterans has been working over four years to build iob.fi since early 2016. As the nascent DeFi technology evolves, we will never stop innovating together with other industry-leading projects such as Uniswap, TokenSets, Balancer, and the others to help bring decentralized finance to go mainstream.
#### **Core contributors**
**Yale ReiSoleil**
Having started his financial career in 1996, Yale worked in mutual funds, venture capital, private equity, and hedge funds with high-frequency trading (HFT) partners. With his diverse experience in several financial sectors managing over $3 billion funds, Yale has been a pioneer in utilizing and advancing emerging financial technologies. Yale and Dr. D were trailblazers in HFT in China. In 2013, they partnered with China Telecom to build the first dedicated trans-Pacific fiber-optic line linking the New York main financial data hub to their Shanghai-based commodities hedge fund.
An unexpected event in 2015 propelled Yale to look into the fledgling decentralized currencies called Bitcoin and Ether. Having spent millions building a proprietary ‘black box’ algorithmic trading hardware and software system co-located in Shanghai Futures Exchange (SHFE) datacenter, the firm’s good time in being one of the biggest stock index futures HFT traders in China came to an abrupt halt when the local government banned HFT index futures trading and limited all order size to 1 contract. Being aware of the danger posed by any centralized authorities led him to make his first purchases of BTC at $430 and ETH at $8.
Yale is the fund manager of [Quasar Fund](https://iobots.pro), chief architect of ioBots trading algorithms, and a firm believer in decentralized finance (DeFi).
[LinkedIn](https://www.linkedin.com/in/reisoleil/)
**Dr. D**
Dr. D’s Ph.D. program was sponsored by Cisco’s research for the next generation of Internet Protocols. Dr. D is a vice president of trading technology in a top Wall Street firm. He has more than 10 years’ experience in High-Frequency Trading and Quantitative Trading platform design. His expertise is mainly in trading platform software/hardware design, trading network design, and trading strategy design and implementation. The trading systems designed by him are running in dozens of stocks and futures exchanges in North America, Europe, and Asia.
**Fred Fei**
Fred Fei is a System Integration Architect. He is a Senior Staff System Engineer with over 10 years of experience in a multinational telecommunications company in charge of system integration with working experience in China, India, Malaysia.
#### Advisors
**Tal Elyashiv**
Tal is a senior executive, serial entrepreneur, and investor. On the corporate side, Tal was a CIO at Bank of America, CIO at Capital One, CTO & Head of New Businesses at 888, and COO at BondDesk. As an entrepreneur, Tal was a founder at Navion, Exactor, Yallo, SPiCE VC, and Securitize with multiple exits under his belt. For over a decade, prior to founding SPiCE VC Tal was an early-stage investor and board member in numerous companies with multiple exists.
[LinkedIn](https://www.linkedin.com/in/talelyashiv/)
**Alexander Borodich**
Alexander is a pioneer in the fields of innovation and the blockchain world. He was named “The Most Active Business Angel in Russia” by the Russian Venture Company. He is Chief Dream Officer and Managing Partner of Marketing Communication Agency Future Action, founder of VentureClub.co, the fifth-largest crowd-investing platform in Europe, and founder of Russian Cryptocurrency and an investor in more than 70 projects.
Alexander has a U.S. patent in the estimation of the effectiveness of information spread in social networks.
[LinkedIn](https://www.linkedin.com/in/borodich/)
**Technology Evangelist**
A top executive at one of the world's top financial centers, Technology Evangelist with 30 years’ experience delivering large transformation programs in a range of industries from media, to retail and public sector. Worked across a number of large consultancies as an ‘executive geek’, remaining true to his engineering background and striving for simple, innovative disruptive solutions. Over the past 5 years has taken a hands-on interest in the power of blockchain technology working across startups and community projects and now supports a number of funds and private banks with their investment decisions, due diligence, and structuring of large transactions.
**Amit Srivastava**
Amit is Senior Partner at Cycle Capital and Senior Portfolio Manager at Qingdao High Technology Equity Investment Fund. He has more than 30 years in operational, Venture Capital, cross-border transactions, and fund management in high tech companies. He is also CEO of Entrepia Ventures. Amit holds an MBA from the Wharton School of the University of Pennsylvania.
[LinkedIn](https://www.linkedin.com/in/amit-srivastava-b80153/)
# ioBots
iob.fi DAO managed hedged pools are powered by ioBots.
### What is ioBots?
ioBots is a trading system. It is a collection of trading tools developed by IOB LLC in-house and is continuously being improved by the core development team at iob.fi DAO. Besides generating Buy or Sell signals, ioBots trading system tries to address trading as a system of interoperable components consisting of the price feeds, trading strategy interpretation, decision engine, risk control engine, order engine based on smart contract interactions with other DeFi platforms, and the ongoing risk monitoring.
In its simplest form, the ioBots can be expressed as:
$$
ioBots=\frac{DecisionAlgos+SmartContractOrderEngine}{RiskControlAlgos}
$$
### What is a trading system?
A buying or selling signal is not a trading system. A strategy is not a trading system either. A well designed working trading system needs to have the following components:
1. Clearly set objectives: All trading starts with a clear objective that will not change during the entire trading process;
2. Mechanism that seeks the consistency: The key to consistency is to keep what we have earned;
3. Market Types determination: ioBots identifies which of the 5 Market Types -- Very Bullish, Bullish, Choppy, Bearish, or Very Bearish -- is underway every day for each market we are trading through a proprietary algorithm;
4. Different strategies for different Market Types: There is no one single "best strategy." Each very bullish, bullish, choppy, bearish, or very bearish market type calls for a different trading strategy for that market on that trading day;
5. Pre-determined risk level: Knowing how much to lose before every order entry.
### What is the most important thing in investing and trading success?
Consistency is the #1 secret to be a winning trader, but most traders fail to achieve it. Long-term views always win in trading. Most failed traders inadvertently treating trading as an adventure, rather than a profit-making business, therefore fail to achieve consistency.
### What is the best trading strategy?
A successful trader would start with a clear trading objective first. All methods of wealth growth start with a clear objective and a detailed action plan. Simply wanting to "make lots of money" is neither. Same as running a successful business, trading strategies and setups are only meaningful after a clearly defined objective is formulated.
### Why am I not achieving trading consistency?
The key to consistency is to keep what you have earned, and the key to that is to clearly define your Expected Max Drawdown *BEFORE* entering any trade.
### **How to choose the best strategy?**
For any trading strategy to work well, you first must identify what the Market Type is at the moment.
### What are the iob Market Types?
iob.fi identifies which of the 5 Market Types -- Very Bullish, Bullish, Choppy, Bearish, or Very Bearish -- is underway every day for each market we are trading through a proprietary algorithm.
### Why is market-type awareness important?
Trading methods and strategies are not one-size-fits-all. A certain strategy may work well in the bullish market but loses badly in a bearish market. It is essential to have the right strategies for the corresponding market type.
### Again, what is the best trading strategy?
There is no one single "best strategy." Each very bullish, bullish, choppy, bearish, or very bearish market type calls for a different trading strategy for that market on that trading day.
### What are ioBots [trading signals](https://iobots.pro/signals)?
Trading Signals are buying and selling trading signals generated by ioBots developed by IOB LLC, which is being transferred iob.fi DAO. Currently, ioBots is covering 20 markets, including BTC, ETH, ADA, XTZ, Gold, MSFT, and TSLA, among others. These are the same trading signals Quasar Fund uses for all trading decisions. The Signals started for 6 trading pairs in July 2019. 14 more markets were subsequently added. The best historical total return is BCH with a 601.57% profit. The worst is XTZ with a loss of 11.46%. You can find detailed Signal performance history [here](https://iobots.pro/signal/history/BTCUSD).
###
# Hedged pools for retails investors
### What is a managed DeFi hedged pool?
A managed DeFi fund is beyond yield farming and on-chain record keeping. We are changing the entire trading model. Instead of trading on centralized exchanges with an order book, trading signals generated through a trading engine, and orders sent through high-speed network connections, we are developing trading strategies rooted in time-tested successful systems as smart contracts that interact natively with other DEX smart contracts automatically, preferably with a zero slippage.
### What is Quasar Fund?
Started on September 3, 2019, Quasar Fund was the real-time trading "lab rat" used for ioBots algorithmic development. It also serves as a real-time, real-money track record builder for IOB LLC fund managers.
IOB LLC used the Quasar Fund to develop a brand-new trading system from the ground up. Many trading signals were divided into 4-5 small order sizes to test various limits of the system. This resulted in less-than-optimal results but that was the purpose of the fund.
### Why are the results of the signals better than that of Quasar Fund?
The Trading Signals and Quasar Fund have totally different objectives. Each "trading position" in the model portfolio is always [fully invested with $10,000](https://iobots.pro/signals/portfolio), regardless of the risk level of the signal. This results in potentially big profits with larger per-position losses. The Model Portfolio represents an "Aggressive Growth" fund trading objective. On the other hand, the "Total Return" trading portfolio may have a higher risk tolerance with an even higher expected return than the model portfolio, but investors must be prepared for a roller-coaster ride.
No longer relying on centralized exchanges for order execution, Quasar Fund will be migrated to one of our DeFi funds in the near future.
### What is Defy Hedged Pool?
iob Defy Fund is the first tokenized, actively managed DeFi fund in the world. Defy will invest in derivatives of non-correlated asset classes including cryptocurrencies, commodities, and stock futures.
The objective of the Defy Fund is low-risk, stable growth with a targeted annual return in the low double digits.
### What is DEFY token?
The DEFY token on the Defy DAO provides an open, auditable record for fund inflows and outflows, and is automatically connected to various DEX liquidity pools through a Web3 dApp.
The use of a DAO structure helps fundamentally change the decades-old fund structure, from fundraising to accounting, reporting, and auditing. No traditional third-party custodian and transfer agent required.
### What's the difference between Defy and other liquidity pools?
Currently, all the diversified liquidity pools are passive mixers of tokens. Some of them are similar to sector-specific ETFs. Since cryptocurrencies are highly correlated, they may suffer large drawdowns (sometimes all coins drop over 80% from their peaks in a short period of time) as the cryptocurrencies regularly exhibit in the past. Defy will actively trade in derivatives representing different asset classes, mitigating excessive drawdown risk.
Most liquidity pools hold just a few high-flying tokens at the time of their creation. They may experience some extraordinary short-term upside moves, but their short-term-focused design may not yield true meaningful long-term profit potential.
### What do I get by investing in Defy Hedged Pool?
The possibility of consistent capital appreciation for years to come.
Defy Fund is not designed to chase the newest fad that may be associated with excessive risks.
To encourage our community-driven governance, Defy Fund investors and liquidity providers are granted FI governance token staking rewards.
# Solutions for institutional investors
### What is Prodefy?
iob Prodefy is a unifying multi-financial protocols communication platform connecting FIX (Financial Information eXchange) protocol, Pillar, and other protocols to Web3-enabled decentralized finance (DeFi) and cryptocurrency trading.
For the high-performance trading systems, Prodefy is akin to Bloomberg Markets of DeFi.
### Who needs Prodefy?
The institutional hedge fund traders and Wall Street firms.
One of the obstacles that have prevented the large hedge funds from the crypto investing and trading is that the crypto trading infrastructure is incompatible with their existing trading systems.
### Why can Wall Street firms not build their own DeFi solutions?
They certainly can. However, there are reasons, besides the current government regulations and their internal compliance restrictions, why the institutional traders and investors are largely absent from the DeFi revolution.
The emergence of decentralized exchanges (DEXes) has fundamentally changed how trading takes place. Gone are the centralized order books, specialists, and market makers who all have the inherited advantages over small traders. Most Wall Street firms count their existence on those advantages.
Moreover, DeFi has some pros and cons for professional traders. While zero slippage is an attractive feature, but on-chain transactions renders some of the main benefits of HFT impossible.
### Who else can also benefit from Prodefy?
The cryptocurrency exchanges, both centralized and decentralized exchanges.
Currently, they are only built for retail traders, crypto enthusiasts who are willing to experiment with the new financial revolution with limited and unreliable trading infrastructure.
Cryptocurrencies and DeFi will become a true force of change once the institutional establishments are on board. Through Prodefy, institutional investors are able to tap into the DeFi platforms. The exchanges can benefit from the new trading money that is maybe hundreds of times their current trading volume.
### What other major functionalities are being planned for Prodefy?
Unified asset and investment management.
A single place to manage your asset and investment both in traditional and decentralized markets, as well as your funds' banking needs.
### What are the major applications Prodefy can be used in the near future?
Prodefy can be used by institutional traders for creating new derivatives trading pairs of any assets, synthetic indices, and offering new index trading and actively managed trading products to their clients.
### What are the possible extensions for Prodefy?
When our own and institutional clients' needs have exceeded the functionalities provided by the prevailing DEXs, we will work with them to deploying a more robust trading venue.
# DeFi
### Why does iob.fi need DeFi?
#### Trading anything anywhere in the world
DeFi platforms are naturally suitable for iob.fi to create and to trade any asset classes globally with universal market access. Synthetic derivatives break the common barriers of borders and fiat currencies. For instance, now anyone anywhere in the world can trade the gold futures with a Web3 wallet.
#### Permissionless
Trading without borders and gatekeepers.
Markets are democratized for anyone to access and are governed by the transparency of smart contracts.
#### Secure
Your asset, your private key, your control.
#### The new market opportunities
DeFi is the future of finance. iob.fi has a deep understanding of both traditional finance and emerging decentralized finance. DeFi has only largely captured the imaginations and excitement of the retail investors and traders so far. There is a disconnection between the old and new. DeFi innovations are led mostly by coders with little or no financial background, and that is actually an advantage they have -- not being burdened by the old-fashion ways of thinking and the predatory ways of doing business. However, the financial world is still being controlled by traditional institutional players. We have witnessed that the two sides are belittling each other every day. We believe they will gradually adapt and penetrate each other's turfs. Being one of the first to build a bridge between the traditional and decentralized finance, iob.fi is in a similar position that is similar to the early days of the Bloomberg Markets system.
# Tokens
## FI Token
### What is FI?
FI is the iob.fi DAO governance token. It has no preset initial par value. Today FI is used for voting on proposals of all business aspects of iob.fi. FI will be used as a native token for the Prodefy technology platform in Phase 2. FI holders will be given control of the iob.fi ecosystem in Phase 3 of the iob.fi product launch.
### Why does iob.fi DAO need FI?
FI aligns incentives in the iob.fi DAO for value creation and economic growth. By linking demand for services to FI, the iob.fi DAO is able to benefit from the success of the products and services it provides. FI holders can also have a direct say in the evolution of the network by participating in governance.
### What is the FI token structure?
48.5% of the initial FI token supply is reserved for IOB holders. IOB holders have funded all of the operational expenses and investments made by IOB LLC.
25% of FI tokens are initially allocated to founding members, core contributors, advisors, and partners, all subject to vesting periods.
5% of tokens are allocated for the Prodefy Ecosystem Fund. This fund will be deployed to attract and incentivize strategic partners that will help the Balancer ecosystem grow and thrive. FI holders will ultimately decide how this fund is used over the coming years.
Up to 12% of tokens are intended to be mostly distributed to iob.fi fund investors in the coming years.
| Token distribution | % | | Vesting |
| ------------------- | ------- | -------- | ------------------------------------------------- |
| IOB holders | 48.50% | 4,834.48 | Conversions subject to DAO voting approval |
| Core contributors | 25.00% | 2,492.00 | Must be vested and subject to DAO voting approval |
| Prodefy Ecosystem | 5.00% | 498.40 | Subject to DAO voting approval |
| Private sale 1 | 2.00% | 199.36 | Must be vested and subject to DAO voting approval |
| Airdrop sweepstakes | 1.00% | 99.68 | Subject to DAO voting approval |
| IEO/CEX listing | 5.00% | 498.40 | DAO voting approval |
| Staking rewards | 12.00% | 1,196.16 | Subject to DAO voting approval |
| Reserve | 1.50% | 149.52 | N/A |
| Total | 100.00% | 9,968.00 | |
### Do I get any additional benefits for holding FI over the long term?
By holding FI you can benefit from any potential increase in the value of the iob.fi and its related products and services.
### Where to buy FI token?
FI token initial liquidity on [Uniswap was 1 FI=5 ETH](https://info.uniswap.org/pair/0x3201ed3ca1057bd6d595fe87dc1fbcb9cdfaad30), funded by the iob.fi team. The initial liquidity is locked for no less than 12 months. iob.fi plans to add liquidity over time, and will never remove it.
Please double-check the FI token address is [0xf03d05ed4cf4e723c04500ab64281bfa591968f2](https://etherscan.io/token/0xf03d05ed4cf4e723c04500ab64281bfa591968f2#balances) to verify that you are interacting with the official FI token.
## IOB Token
### What is IOB?
IOB was created in October 2017. The IOB LLC and iob.fi business are entirely funded by the funds from the sale of IOB tokens, along with some successful and failed investments in cryptocurrency projects.
### What is the exchange rate between IOB and FI tokens?
IOB holders have the right to convert their IOB into FI. Each conversion event is unique. Conversions are proposed by iob.fi core members initially and are determined by the majority voting power approval of the IOB holders on the iob.fi DAO.
Important policy proposals such as token conversion price and available batch amount are made by the designated core member during Phase 1 and 2 of iob.fi DAO deployment. After a certain amount of IOB tokens are burnt, in Phase 3 the entire IOB token control will be given to the IOB holders.
### Since IOB holders only control 48.5% of FI tokens, will the FI holders out-vote IOB holders on important matters, including IOB to FI conversions?
Not likely.
First of all, only the current IOB holders can vote on matters concerning IOB to FI conversion. Secondly, the conversion mechanism is so designed that the IOB holders ARE the majority of the FI holders for a foreseeable future.
In the beginning, iob.fi DAO core members act as a 'central bank' that controls and balances the FI 'money' supply. If we do things sensibly, we will not flood the market with an excess of FI token supply that will ruin the token economics and the price of FI in the open market. For a period after FI's creation, only IOB holders are FI token suppliers.
Eventually, the role of the 'central bank' will be given to the entire community, no longer in the hands of the core members.
### What is the difference between IOB and FI?
IOB holders are entitled to receive dividends from iob.fi business activities while FI is not.
### Where and how can I exchange my IOB to FI?
Once the required voting majority has approved the token conversion on iob.fi DAO and the conversion event is enacted, all IOB holders can then clicking on "[Token Request](https://rinkeby.client.aragon.org/?#/iobe/0x1ee5073065f9537f91da424f84c68d3f85cdafe1/)" to make the exchange.
### What will happen to IOB Power points on SiP?
They are yours to keep and are exchangeable to IOB tokens.
### What will happen to the IOB tokens that were converted into FI?
The converted IOB tokens are considered as Redeemed and will be permanently burnt.
### Can IOB holders vote on iob.fi DAO?
Yes. IOB holders can wrap their IOB temporarily into wIOB on iob.fi. The wIOB tokens can then participate in voting on all proposals in the iob.fi DAO.
### Who holds IOB?
Over [1,100 unique addresses](https://etherscan.io/token/0x6130ff302f24267380753e52ece48b852be3dd38#balances) hold a total of 11,603,244 outstanding tokens.
# DAOs
### What is the iob.fi DAO management team?
There is no central leadership, decisions are made in a bottom-up way. It has its own rules, such as how to manage funds that belong to iob.fi. The organization is running under a global network of contributors. The core contributors can be reached [here](https://discord.gg/nszVFC).
### Where is iob.fi DAO registered?
The DAO structure gives internet communities unprecedented power to organize around shared values and resources. There is no centralized registration or any national borders.
### How is iob.fi DAO organized by its contributing members?
Decentralized organizations can solve some of the traditional companies' worst problems. All of us are not constrained by geography. Members work remotely by a shared vision.
### If the core members control all the important mattes and even act as a 'central bank,' how decentralized is iob.fi DAO?
We intend to give all the control to the community. However, we can only do it in a gradual, guided, and controlled way towards the state of total democracy.
During Phase 1 of the DAO deployment, only some of the core members are designated to make policy proposals. The entire community of FI and IOB holders is still entitled to vote for each proposal. A proposal is enacted only after it receives the required vote counts. Phase 2 will give any token holder the right to make proposals on most business policies for the community to vote. In Phase 3, the community is given the total control of iob.fi DAO and anyone can make a proposal on any policy matters.
### What is the voting-power difference between IOB and FI?
IOB holders can vote on ALL matters on iob.fi DAO through wIOB while FI holders can vote on most, but not all policies. For instance, FI cannot vote on IOB to FI conversion proposals. However, most FI holders are at the same time IOB holders during the first two phases of DAO's deployment, we do not see a drastic conflict between the two camps.
### What are the benefits of iob.fi DAO?
iob.fi DAO is an inclusive, transparent, and global model for human coordination. It brings superpowers to the online community that shares our longer vision since 2017.
iob.fi DAO enables the community to:
#### Attract and incentivize contributors
The DAO incentivizes contributors by giving them a say in the future of the organization. Through the iob.fi DAO, our research and development effort will reach a global level. Anyone can make a contribution from any corner of the world, not only the "employees."
#### Pool funds
iob.fi DAO allows people all around the world to pool funds.
#### Govern those funds together
It allows people to collaboratively channel common funds towards common missions.
### What is my power?
Over time, we will be scheduling votes to decide on a range of issues, including (but not limited to):
#### IOB token conversions
The community will decide on the IOB to FI conversion rate and the batch amount available for each voluntary swap.
#### Management fees and incentives
For each new fund, the community decides on its management fee and incentive structures.
#### Dividend payouts
Authorizing dividend payout ratio, timing, and payment methods.
#### Business expansions
Allocation of FI grants to development efforts and new business partnerships.
#### Core member replacements
Propose and vote on organization leadership members, including the financial controller, key advisors, and security council members.
# Defy Hedged Pool
iob Defy Hedged Pool is one of the first tokenized, actively managed DeFi hedged pools in the world. Defy will invest in derivatives of non-correlated asset classes including cryptocurrencies, commodities, and stock futures. The objective of the Defy Hedged Pool is low-risk, stable growth with a targeted annual return in the low double digits.
Based on an Aragon DAO, Defy Hedged Pool is a professionally-managed hedged pool that operates entirely on the blockchain. Besides enabling accounting, auditing, and account management on-chain, Defy is powered by a smart-contract-native trading system that directly interacts with Uniswap, Synthetix and Balancer. The pool’s assets are safely kept in its own smart contracts and in some cases, trades are executed with 0 slippage.
| **Fund pool name** | **iob** Defy Hedged Pool |
| ---------------------------------- | --------------------------------------------------------------------------------------------------------------------- |
| Hedged pool smart contracts | |
| Network | Ethereum Mainnet |
| Investment objective | Stable growth |
| Investment strategies | Quantitative, both long and short |
| Management fee | 2% |
| Performance fee | 20% |
| Hurdle rate | 12% |
| Contribution | ETH and/or DAI |
| Assets traded | Cryptos, stock indices, and commodity futures synthetics |
| Starting NAV | $1.0000 |
| | |
| **Current investor pool** | Defy Fund Pool **#1** |
| Pool token | DEFY-1 |
| Token address | [0x7aF3B2B4093bd52309fE374C5FD05E215762c20C](https://etherscan.io/address/0x7af3b2b4093bd52309fe374c5fd05e215762c20c) |
| Contribution cutoff | 31 March 2021 |
| Staking | 12 months |
| Total cap | 2,800 ETH |
| Minimum investment/staking | 0.25 ETH |
| Staking APY | 28% FI token reward |
| Staking payout | 31 December 2021 |
| Staking credit | Pro rata |
| Early redemption | 1% redemption fee and staking Reward forfeiture |
| Redemption at or after payout date | 0% redemption fee + Staking reward pro rata |
| Token/share transferable? | Yes |
| | |
| **Next investor pool** | Defy Hedged Pool **#2** |
| Pool token | DEFY-2 |
| Contribution cutoff | 30 June 2021 |
| Staking | 12 months |
| Total cap | 5,000 ETH |
| Staking APY | 18% FI token reward |
A video tutorial can be found here:
# How to invest in Defy by buying DEFY token
## **Open** [**iob.fi**](https://iob.fi) **homepage**
Step 1: Find the **banner** on the [iob.fi](https://iob.fi) homepage and click. (Click [here ](https://iob.fi/pool/0x7af3b2b4093bd52309fe374c5fd05e215762c20c/buy)to skip to step 3.)
Step 2: Click the **"DEFY Invest"** button.
Step 3: In the window **"DEFY Invest"**, click **“Connect Wallet”**. (If you already connected the wallet, skip to Step 6.)
Step 4： In **“Connect Wallet”** window，select a wallet (currently **“MetaMask”** and more selection under development)
Step 5：After successful connect to wallet, you will find your **wallet address** and **balance** in the upper right corner.
Step 6：Then you can back to **"DEFY Invest"** window and input amount of **ETH (or USDT、DAI)** or amount of **DEFY-1**. You can also leave a note in **"Reference"** field. After that, click **"Swap Token"** button.
`Note: The number of tokens received may be slightly different due to changes in market prices.`
Step 7：**"MetaMask Notification"** will request your confirmation, click **"Confirm"** button to confirm this transaction.
Step 8: Then your transaction has been signed and sent to the network for processing. Click **"See on Etherscan"** to view details on the Ethereum network. After this transaction successfully recorded on ethereum network, you can find it in [Defy DAO](https://client.aragon.org/#/defy/0xf783b9e19597d212e3fa61cb71d62e7c5cba2422/) and just waiting for pool managers' approval.
## [Buy DEFY-1 today!](https://iob.fi/pool/0x7af3b2b4093bd52309fe374c5fd05e215762c20c/buy)
# iob.fi DAOs
## *True democracy, not only for the rich*
Many of today's DAOs are not living up to their promise. Aside from low participation, they are generally not truly decentralized in the decision-making process and its results.
We are proposing a novel approach to help solve some of the problems.
### An electoral college plus a popular vote system
All governance tokens are not free in reality. Most of the public holders are buying them for price speculation only, not voting, the tokens' true purpose of existence. Coupled with the high gas fee that is required for each vote, voting participation is generally low by the public token holders. On the other hand, anyone can acquire testnet tokens and vote for free with some dedicated efforts on the testnet.
We are proposing a new voting system that has been around for over 200 years, the [electoral college](https://en.wikipedia.org/wiki/United_States_Electoral_College) paired with a popular vote system.
In our governance model, we will simultaneously maintain both the Ethereum Mainnet and Rinkeby Testnet DAOs to vote on every issue and proposal. The testnet DAO is what we call a popular vote platform. Each testnet vote result is delegated to a representative (an elector) on the Mainnet DAO to be cast on the proposal with a certain proportion of the total voting power.
### How to encourage community engagement
Broad community involvement is essential to the success of DAO governance. We plan to empower the airdrop participants with Rinkeby testnet DAO tokens and give them a say in running iob.fi business. Over time, the testnet voters that have helped reshape our governance decisions will be awarded the official FI tokens.
# Addresses
## Deployed smart contracts
{% tabs %}
{% tab title="Mainnet" %}
| Contracts | URL |
| ----------------------- | ----------------------------------- |
| iob.fi DAO | |
| iob Defy Hedged Pool | |
| ioBots Quasar on dHEDGE | |
| {% endtab %} | |
{% tab title="Popular Voting on Rinkeby" %}
| Contracts | URL | Purpose |
| ----------------------- | ---------------------------------------------------- | --------------- |
| iob.fi Popular Vote DAO | | Voting for free |
| {% endtab %} | | |
| {% endtabs %} | | |
## Tokens
{% tabs %}
{% tab title="Mainnet" %}
| Token | Address | Listed |
| ------------- | ---------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------- |
| IOB | [0x6130ff302f24267380753e52ece48b852be3dd38](https://etherscan.io/token/0x6130ff302f24267380753e52ece48b852be3dd38#balances) | No |
| IOB-V2.1 | [0xe987b1d77da83d84af43a1f1820eb4b68f3b2126](https://etherscan.io/token/0xe987b1d77da83d84af43a1f1820eb4b68f3b2126) | Replacing IOB |
| FI | [0xf03d05ed4cf4e723c04500ab64281bfa591968f2](https://etherscan.io/token/0xf03d05ed4cf4e723c04500ab64281bfa591968f2) | [Uniswap](https://info.uniswap.org/pair/0x3201ed3ca1057bd6d595fe87dc1fbcb9cdfaad30) |
| DEFY-1 | [0x7aF3B2B4093bd52309fE374C5FD05E215762c20C](https://etherscan.io/address/0x7af3b2b4093bd52309fe374c5fd05e215762c20c) | Pool token |
| ioBots Quasar | [0x739F41C699276C9b6182AECb9d5F4eCa226dA8DD](https://etherscan.io/address/0x739f41c699276c9b6182aecb9d5f4eca226da8dd) | Pool token |
| FI-AD-1 | [0xcbf727efa8da3cc405fdb6fe212325518f2c6933](https://etherscan.io/token/0xcbf727efa8da3cc405fdb6fe212325518f2c6933) | FI Airdrop 1 |
| {% endtab %} | | |
{% tab title="Popular Voting on Rinkeby" %}
| Tokens | Address | Decimals |
| --------------- | --------------------------------------------------------------------------------------------------------------------------- | -------- |
| FI-POPULAR-VOTE | [0x0a774ed04f2eb7a34b7cab01577aeaba8528a604](https://rinkeby.etherscan.io/token/0x0a774ed04f2eb7a34b7cab01577aeaba8528a604) | 18 |
| {% endtab %} | | |
| {% endtabs %} | | |
## Uniswap ETH-FI trading pair
{% tabs %}
{% tab title="Mainnet" %}
| Contracts | Address |
| ------------------- | ---------------------------------------------------------------------------------------------------------------------- |
| Uniswap ETH-FI pool | [0x3201ed3ca1057bd6d595fe87dc1fbcb9cdfaad30](https://info.uniswap.org/pair/0x3201ed3ca1057bd6d595fe87dc1fbcb9cdfaad30) |
| {% endtab %} | |
| {% endtabs %} | |
# Useful tools
| Sites | URL |
| ---------------------- | -------------------------------- |
| MetaMast Wallet | |
| Rinkeby faucet | |
| ETH gas price forecast | |
# Requesting and Accessing 2021 IOB Dividend
## 1. Requesting
### Step 1:
On [iob.fi](https://iob.fi/) homepage, click "**MENU**" button and select the "**Managed Pools**" tab in the sidebar.
### Step 2:
Click "**2021 IOB Dividend**" button. You can also click on the banner shown below. (Click to skip to step 3.)
or
### Step 3:
Click the **"Connect Wallet"** button.
In **“Connect Wallet”** window，select a wallet (currently **“MetaMask”** and more selection under development)
### Step 4:
Confirm my wallet address (0x5b4......5b9e) is used to request for IOB dividend. Click the **"Request"** button.
### Step 5:
**"Requested!"**
#### **Note: Once you have requested your dividend, your eligible dividend will be reset to "0."**
## **2. Accessing Your Dividend on Polygon Network**
### Step 1:
Add [**Polygon Network on MetaMask**](https://docs.polygon.technology/docs/develop/metamask/config-polygon-on-metamask/)
### Step 2:
Check and confirm your **USDC balance** on [**Polygon Wallet**](https://wallet.polygon.technology/)
2.1 If you decide to keep USDC in the wallet on the Polygon network, do nothing.
2.2 To transfer from the wallet, first swap a small amount of MATIC tokens (5-10 cents) using your USDC you just received via their gas-less swap feature.
2.2.1 If you want to **transfer USDC to an** [**exchange**](https://docs.polygon.technology/docs/faq/wallet-bridge-faq/#what-are-the-list-of-supported-exchanges-on-polygon), you can only sent via the Polygon network to **one of the following 3 exchanges currently: crypto.com**, **OKEx** or **Binance**.
## **You will lose your USDC if you try to transfer them to any other exchange! Do NOT do it!**
**If unsure, please ask questions in our** [**Telegram**](https://t.me/+Swx7dK5JMJfBcXBm) **group first!**
### Step 3:
You can also **connect your wallet to Uniswap** through their Polygon layer to swap USDC to any coins you want.
Remember, the USDC is in your wallet on the Polygon Network. You do not need to "get it out." It is already there, as long as you have the private key to your wallet.
## Conclusion
## Unless you must convert the dividend received into USD, EURO or any other fiat, there is really no reason to "get it out." The funds are in your wallet on the Polygon network, (almost same as on the Ethereum network,) and you can swap it into other coins for almost no fee.
# 请求并使用 2021 IOB 股息
## 1. 请求
### 第1步:
在 [iob.fi](https://iob.fi/) 首页, 点击 "**菜单**" 按钮并在侧边栏选择 "**管理的基金池**" 标签。
### 第2步:
点击 "**2021 IOB 股息**" 按钮，您也可以单击下面显示的广告横幅。 (点击 跳转到第3步。)
或者
### 第3步:
点击 **"连接钱包"** 按钮.
在 **“连接钱包”** 窗口，选择一个钱包 (当前仅支持 **“MetaMask”** ，更多选择正在开发中。)
### 第4步:
确认我的钱包地址 (0x5b4......5b9e) 被用于请求 IOB 股息。 点击 **"请求"** 按钮。
### 第5步:
**"已请求!"**
注意：一旦您申请了股息，您的合格股息将重置为“0”。
## **2.** 在 Polygon 网络上获取您的股息
### 第1步:
在 MetaMask 上添加 [**Polygon 网络**](https://docs.polygon.technology/docs/develop/metamask/config-polygon-on-metamask/)
### 第2步:
在 [**Polygon 钱包**](https://wallet.polygon.technology/) 查看并确认您的 **USDC余额**
2.1 如果您决定将 **USDC** 保留在 **Polygon** 网络的钱包中，请什么也不要做。
2.2 如果要从钱包中转账，首先您需要使用刚刚收到的 **USDC** 通过无气体交换功能去兑换少量的 **MATIC** 代币（只需 5-10 美分）。
2.2.1 如果您想要将 **USDC** 转账到 [**交易所**](https://docs.polygon.technology/docs/faq/wallet-bridge-faq/#what-are-the-list-of-supported-exchanges-on-polygon), 当前您只能通过 **Polygon** 网络发送到以下3个交易所**: crypto.com**, **欧易** 或者 **币安**。
## 如果您尝试将它们转移到任何其他交易所，您将丢失您的 USDC！千万不要做！
**如果不确定, 首先请到我们的** [**电报**](https://t.me/+Swx7dK5JMJfBcXBm) **群里进行询问!**
### 第3步:
您还可以通过他们的 Polygon 网络将您的钱包连接到 **Uniswap**，就可以将 USDC 兑换成任何您想要的代币。
请记住，USDC 就在您的 Polygon 网络上的钱包中。 您不需要“把它拿出来”。 只要您拥有钱包的私钥，它就已经存在。
## 结论
## 除非您必须将收到的股息兑换成美元、欧元或任何其他法定货币，否则真的没有理由“把它拿出来”。 资金在 Polygon 网络上的钱包中（几乎与以太坊网络上相同），您几乎可以免费将其兑换成其他代币。
# Rinkeby Testnet
{% hint style="info" %}
We use Rinkeby Test Network for both testing and Permanent Popular Voting.
{% endhint %}
# Popular Vote Token Request and Voting
## Setting up MetaMask on PC
MetaMask is a Web3 wallet. Rinkeby uses test ETH, not the regular ETH.
### Installing MetaMask for your browser
Chrome: Firefox:
#### Creating a wallet and store your seed phrase in a safe place
#### Changing your network to Rinkeby
## Requesting some test ETH for your new MetaMask wallet
Go to
Click the tweet button at the bottom of the page.
Sign in or create a twitter account.
Replace the 0x0 address with your own from MetaMask.
Tweet it and copy the link to the tweet.
Go back to the Rinkeby faucet and paste your tweet link in.
Select 18.75 Ethers / 3 days.
Congrats! You can now use MetaMask on Rinkeby.
## Requesting FI-POPULAR-VOTE Tokens from Token Request
1. Go to [iob.fi DAO Popular Vote Token Request](https://rinkeby.client.aragon.org/#/fipopularvote/0x9e1110b76b469d020184da374ddb334c2fc5308f/) page.
2. Connect your MetaMask wallet.
Make a new request for 368 FI-Popular-Vote Tokens.
Create the transaction
Confirm the transaction
Go to My Requests
Submit your request
Create the transaction
Confirm the transaction
You now have 368 FI-Popular-Vote Tokens!
## Adding a custom token to your MetaMask Wallet
Click the Add Token button in MetaMask.
Click Custom Token
Enter the FI Popular Vote token address and click Edit
Change the name to FI-Popular and click Next
Finally, click Add Tokens
## Voting on the Rinkeby DAO
Go to
Connect your MetaMask
Go to the Voting app.
Whenever there is a vote, you can vote on it. Once you have gotten FI-Popular-Vote Tokens from an airdrop.
Open a vote.
Choose Yes or No accordingly.
Create the transaction
Confirm the transaction
#### Congrats!
You have successfully voted on the DAO!