Description
Have you heard about the movie called The Big Short, where couple of investors short the U.S. housing market and make millions of $ ? Well, TheBigLong is the same but with a different approach.
TheBigLong comes with a unique, groundbreaking concept. It aims to create the first index fund like crypto token.
An index fund is a type of mutual fund or exchange-traded fund (ETF) with a portfolio constructed to match or track the components of a financial market index, such as the Standard & Poor's 500 Index (S&P 500). An index mutual fund is said to provide broad market exposure, low operating expenses, and low portfolio turnover. These funds follow their benchmark index regardless of the state of the markets.
TheBigLong created suitable tokenomics for this. 8% of every buy & sell will be collected for the buyback/fund wallet. TheBigLong acts like a decentralized autonomous organization and let the community decide what to do with this wallet. Some portion of this wallet will be used for instant buybacks in case there is a sharp correction. The rest will be invested in different crypto assets that the community wants to invest. TheBigLong will make sure that the fund portfolio is diversified properly. This fund will be used for buybacks and marketing expenses with the guidance of the community.
