Introduction
Fume: On-chain Fund Administration.
Last updated
Fume: On-chain Fund Administration.
Last updated
The need for Fume protocol comes from the direct pain we've experienced managing our own investment fund in traditional finance. In a world where blockchain technology exists, we can't stand trying to manage an investment fund paying enormous fees to fund administrators to perform tasks that could be automated. Nor do we accept the idea of paying 20-80 bps to move capital around. Finally, we personally lost a large amount of the Fund's money in the FTX collapse. We need to build a better alternative, where intermediaries are no longer the point of failure.
Founded in 2023 and based in Ticino, Switzerland, Fume provides an on-chain fund management platform that aims to address the inefficiencies plaguing traditional fund management. Many intermediaries and a lot of manual reporting. Fume automates the administration through smart contracts. It streamlines the subscriptions/redemptions with tokenized fund shares and automates the manager's payout (management, performance, entry, and exit fees). On-chain funds are fully compliant with regulations in top-notch jurisdictions. It's not limited to digital assets: fiat subscriptions are still possible with any off-chain underlying asset.
Fume operates under two main lines of business:
Software-as-a-Service (SaaS) model, providing access to its platform for a commission on the funds' AUM. The asset managers rely on their own fund license.
Fund-as-a-Service model, providing a full fund formation, AML/KYC, reporting to the financial regulator, and other admin functions on top of the platform.
Name: Fume, legally incorporated as FumeX AG (CHE-342.025.757).
Incorporation Date: 15/05/2023.
Location: legal address in Ticino, Switzerland, operating with a remote-first approach.
Sectors: Fintech, Blockchain, Asset Management, DeFi, Web3.
