Set Labs

The company's primary product, TokenSets, launched commercially in April 2019 and serves as a platform for the automated portfolio management of crypto-assets. It allows users to create, manage, and trade baskets of assets, known as "Sets," which are ERC-20 tokens representing a portfolio of underlying assets. This enables investors to gain exposure to a diversified portfolio through a single token, with strategies that automatically rebalance based on predefined logic. The platform caters to a range of clients, from individual retail investors to other businesses like Index Coop, Ember Fund, and Yam Finance, who use the Set Protocol for social trading, treasury management, and creating structured products. The protocol itself is a suite of smart contracts on the Ethereum blockchain that facilitates the creation of these composite tokens, essentially functioning as an infrastructure layer for asset management in the DeFi space.

Set Labs' business model centers on providing the tools and infrastructure for creating and managing these tokenized asset baskets. The company has successfully raised capital to fuel its growth, including a $2.2 million seed round and a $14 million Series A round in May 2021, bringing its total funding to over $21 million. These funds are intended to further decentralize its protocol and expand its offerings of multi-coin investment vehicles. One of its most prominent creations is the DeFi Pulse Index (DPI), a decentralized exchange-traded product that tracks the performance of various DeFi assets.