The Founder of the currently failed custodial crypto investment platform, Midas Investments, Iakov Levin, has introduced Locus Finance. This is a fresh decentralized finance platform that is his brainchild.
According to a circular released by the company, Locus Finance has come into existence with a focus on being able to provide connectivity with increased yield-generating tokenized vaults. In the beginning stages, the finance company will come out with three yield-generating products for the sake of Ethereum staking. It will also include the overall growth of DeFi, as well as Arbitrum trading.
In the opinion of Levin, investors are not really interested in blockchains, protocols, or the cost of transactions and portfolio management on a daily basis. The requirement is for a set-and-forget environment. Therefore, in this case, vaults come into the picture for working on the retail yield market, paving the way for the generation of income where the retail investors are concerned.
In the case of the now-derailed Midas Investments, the company was formally established in 2018. They had successfully managed to make for themselves more than $250 million in the form of assets when it was at its peak in 2021. Following that, and due to enormous market instability in 2022, the company landed with losses amounting to more than $50 million. Midas Investments finally had to down shutters in December 2022.
