Friktion is building a management platform for all kinds of users to help mitigate the risks of the chaotic crypto world.
Friktion Manager Wants You
The DeFi Direct YouTube hosted the two co-founders, Alex and Uddhav, of Friktion Labs on January 11. The leadership duo at Frikition showed how they are building a Decentralized Finance (DeFi) portfolio manager for sustainable and smart investing.
The near 40-minute chat saw the co-founders intelligently weigh through macro topics like web3 and the current market pullback. The true meat of the conversation was when host Greg, GoonTrades, began digging into the motivations to create Friktion as a response to risk management by users in the market and the volatility created by those risks.
“There’s a lot of people who take leverage and call options but don’t really know what they are doing and they’ll get exercised, and things like that,” explains Alex when talking about risks he sees users taking. “One thing we do to stop that for example is that all the call options we sell are fully collateralized. You can never get liquidated on the option and lose all your money, there’s even a fixed downside.”
The talk with Alex and Uddhav showed several other ways that the portfolio manager they are creating can help benefit users and protect them when stretching risk very thin. The team at Friktion is also working to provide services to groups like Invictus DAO where they manage 20% of the DAO’s treasury. The team hopes their manager can provide an easy-to-use DeFi management platform for any kind of user.
For a full review of the chat, head over to the DeFi Direct YouTube. Following the livestream, Frikition dropped the news of a $5.5 million capital funding round that included backing from some heavy hitters in the industry.
Who are Alex, Uddhav, and team
The core contributors have been building together since 2016. The team came together from working in quantitative research and proprietary trading firms (commodities, treasuries, volatility products, crypto assets), full-stack blockchain engineering, monetary policy, and UI/UX design.
Uddhav – Friktion Co-founder. He has the highest degen score on the team. He currently works on circuits, protocol design,tokenomics, risk management, and marketing. He previously oversaw trading desks spot, futs/vol crude+products, carbon. He is a SubSurface Engineer by degree and has also done mathematics and National Security work.
Alex – Friktion Co-founder. He is a lead protocol developer and professional liquidator. He previously worked as a Quantitative Trader at Crypto HF, US Treasuries Desk, Equity Vol (XIV bear). He has a degrees in Computer Science and Mathematics. He has been working in Quantitative Research and Quantitative Trader for a while.
What is Friktion?
Friktion is a new DeFi portfolio management project that appeared on the Solana ecosystem. The project is seen as a new profit-seeking opportunity, helping users to maximize profits and monitor profit fluctuations in different markets. Friktion offers an automated portfolio manager (APM) to generate profits over the market cycles. Investors simply enter their existing portfolio information, including: spot trading, perpetuals, liquidity, and then use Friktion to determine how to protect and grow the asset better.
Where to find Friktion:
Source : solana.news