Fumbi Product Update – September 2024

After another three months, we did a regular update of our products. The September update brings several changes. During August, our experts analyzed and adjusted our portfolios in detail so that we can offer you an even wider and better quality cryptocurrency offer. The adjustments to our products as well as the addition of new cryptocurrencies will allow you to better diversify your investments in order to achieve your investment goals.

In the penultimate week of August, Fumbi’s Investment Committee met to discuss the current situation in the cryptocurrency market and to make the necessary changes to our products to reflect the current market trends currently prevailing in the market. The purpose of this discussion was to analyse the current state of the products offered and expand the possibilities of investing your funds efficiently to appreciate their value. On 20.08.2024, the Investment Committee accepted and approved the addition of up to 8 new assets in Fumbi.

Fumbi Index Portfolio

Interest in our Fumbi Index Portfolio continues to grow among our users, and it continues to be one of our clients’ most popular products. This portfolio currently consists of 24 cryptocurrencies that have been analysed and selected based on strict formal criteria. By investing in multiple cryptocurrencies simultaneously, diversification occurs, which is a standard method of minimising and managing investment risk. Spreading the entire investment across a larger number of cryptocurrencies reduces the exposure and risk arising from one particular investment.

During the last update, Fumbi’s Investment Committee adopted the following changes:

Added an asset to the Fumbi Index Portfolio

• Artificial Superintelligence Alliance (FET) – FET is the token of an alliance consisting of the Fetch.ai, SingularityNET, and Ocean Protocol projects, which collectively aim to build an infrastructure that enables different kinds of artificial intelligence and autonomous agents to interact and collaborate with each other. As part of the broader diversification of our Fumbi Index Portfolio, we have decided to add an AI-focused asset.

Asset removed from the Fumbi Index Portfolio:

• Algorand (ALGO) – Algorand does not currently meet the formal criterion regarding the Top 50 in terms of market capitalisation, as it is currently ranked 62nd. In order to comply with our formal criteria, we have decided to delist the cryptocurrency Algorand from the Fumbi Index Portfolio.

Fumbi Custom

As part of the expansion of cryptocurrencies available in the Fumbi Custom product, we have decided to add one new asset to our current cryptocurrency offering, which you will now be able to purchase through this product.

Added asset to the Fumbi Custom product:

• Near Protocol (NEAR) – A Smart-contract blockchain platform that enables cheap and fast transactions thanks to the so-called sharding technology. It focuses on ease of use, and fast scalability while being environmentally friendly, offering great opportunities for the development and growth of new decentralised applications.

Advanced Portfolios

When creating your own investment portfolios, it is very important that you have plenty of options to choose from. A wide range of proven assets that meet the formal criteria set out for this product allows our clients to diversify their investments in order to reduce risk. It is also for this reason that we have expanded the range of assets in the Advanced Portfolios product to include up to 9 new cryptocurrencies.

You can now find the following new cryptocurrencies in the Advanced Portfolios product:

• Toncoin (TON) – A native token of The Open Network, a tier-one blockchain known for its high scalability and ability to process transactions quickly. This blockchain was originally developed by the team behind the Telegram app but is currently managed by the TON Foundation.

• PaxGold (PAXG)* – PAX Gold is a type of digital asset that is backed by real physical gold. This is stored at Paxos – a financial institution regulated by the New York Department of the Treasury. Because of this, the Bitcoin and Gold product is able to bring you the benefits of conservative real gold investing. Read more about digital gold.

• Bonk (BONK) – Bonk is a decentralised meme token originally created on the Solana blockchain that gained popularity as the “first dog token on Solana.” It aims to compete with well-known meme coins such as Dogecoin or Shiba Inu.

• Notcoin (NOT) – A play-to-earn token. It is designed for use in games that are integrated into the Telegram app. In these games, players can earn tokens by tapping virtual coins and completing various tasks.

• LayerZero (ZRO) – A project that allows different blockchains to securely and efficiently exchange information with each other. The idea behind this project is to simplify the transfer of messages and data between different blockchain networks.

• Jito (JTO) – Jito is a cryptocurrency operating in the Solana ecosystem that focuses on providing liquid staking on Solana and maximising rewards for users. Through its JitoSOL pool, it offers liquid staking of SOL tokens, allowing users to earn rewards from staking that is “flexible”. The project has a JTO governance token that allows community members to participate in the decision-making processes and direction of the platform.

• Gravity (G) – A token that serves as a native token for the Gravity and Galxe ecosystem. It is a token within the Ethereum network that is used for transactions, staking, and governance within these ecosystems. The Gravity token was created by migrating & swapping the Galxe (GAL) token – currently the largest platform on which community members perform various social tasks for rewards or airdrops.

• Space ID (ID) – Token ID serves as the governance token for the SpaceID project, which aims to create a decentralised web3 domain management network, allowing users to register, trade and manage domains across different blockchains.

• Astar (ASTR) – A multichain platform that is designed to support the development and integration of decentralised applications within the Polkadot ecosystem. It allows developers to create decentralised applications that can operate across different blockchains.

The new cryptocurrencies were selected based on their potential and growing popularity in the crypto market. We believe that the new cryptocurrencies in Fumbi will allow you to customise and optimise your investment strategy to achieve your investment goals.

There were no changes to the pre-existing templates in the Advanced Portfolios product during this update. If you can’t decide what to invest in, you can choose one of our pre-made investment templates that focus on different areas from the world of cryptocurrencies and have been carefully put together by our team of experts.

At Fumbi, we adhere to strict guidelines when selecting cryptocurrencies for our portfolio, with an emphasis on liquidity, market capitalisation, and strong fundamentals in payment systems, decentralised finance, and Web3. More information can be found in this blog.

*The PAX Gold (PAXG) cryptocurrency will be available in the Advanced Portfolio product for SK clients only.