On May 2, 2023, Steven announced the launch of SHY, a new on-chain, token fund that provides investors access to high yield bonds. The SHY token is fully backed by underlying assets, providing an annual yield of 12%, distributed quarterly.
“As a leader in the world of finance, we are committed to providing innovative financial solutions for investors,” said Steven. “With SHY, we are bringing institutional-grade finance to the DeFi space, allowing investors of all levels to benefit from real-world assets.”
The SHY token is fully collateralized, redeemable, and composable, and is issued as an ERC-20 token. Reserves are independently verified by Chainlink’s decentralized proof-of-reserve oracle network, and all assets are held at third-party qualified custodians, regularly audited by Richey May, and receive daily accounting from NAV Consulting.
“Investors can be assured that their funds are being invested in only the highest-quality, multi-billion dollar, highly liquid, exchange-traded bonds, issued by large listed companies and managed by trusted managers,” said Steven. “The SHY token is liquid and programmable and is compatible with a range of on-chain protocols and applications.
With the launch of SHY, Steven is once again leading the way in the world of finance, providing investors with access to institutional-grade finance and real-world assets in the DeFi space.
One of the key features of SHY is that it allows investors to earn a high yield while holding their investment in a token form. This is different from traditional bonds, where investors would have to hold their investment in a paper form. The SHY token, on the other hand, is easily tradable and can be transferred between wallets in a matter of seconds.
In addition, SHY is fully programmable, allowing investors to automate their investments and take advantage of the various DeFi protocols available on the Ethereum network. This means that investors can use SHY to participate in yield farming, liquidity provision, and other DeFi activities, while still earning a high yield on their investment.
Another benefit of SHY is that it provides investors with access to institutional-grade finance, which is typically only available to high net worth individuals and institutional investors. This is because the underlying bonds are issued by large listed companies and managed by trusted managers, ensuring that they are of the highest quality and highly liquid.
Furthermore, SHY provides investors with transparency and security, as all reserves are independently verified by Chainlink’s decentralized proof-of-reserve oracle network. This ensures that the reserves are fully collateralized and that investors can redeem their tokens for the underlying assets at any time.
As the DeFi space continues to grow and evolve, Steven is committed to providing investors with innovative financial solutions that take advantage of the latest technologies and trends. With SHY, Steven is bringing institutional-grade finance to the DeFi space, allowing investors of all levels to benefit from real-world assets and earn a high yield on their investment.
Steven is a web3 company exploring the way to make bonds more accessible to everyone andto push the crypto space forward. With a global reach and a commitment to innovation, Steven is dedicated to helping clients achieve their financial goals. For more information, visit www.gosteven.xyz.