A specification for token abstraction

A Set is a new primitive that facilitates the low-cost, trustless creation and exchange of a collateralized basket of tokens.

NEW: We're hiring!

Current Market

With ICOs and the digitization of assets, the world is being tokenized. We may find that in the next two decades that we have millions or billions of tokens. However, there are pains with dealing with the complexity of more tokens.

No Bundling

With a growing number of tokens, there is no way to think about a group of tokens as a single token

High Transaction Fees

Sending multiple tokens means multiple transactions

Welcome to Set Protocol

In computer science, abstraction is a tool that is used to focus on higher-level concepts and hide irrelevant details. Applying the concept to tokens, we introduce the Set, an abstract token that represents a basket of tokens.

Issue and Redeem

A thin protocol layer on top of ERC20 token standard with issue and redeem functions

Fully Collateralized

Set smart contracts trustlessly hold the underlying tokens

Redeemable

Any Set can be traded for its underlying tokens

Composable

Like building blocks, Sets can be used to build other Sets

How it Works

Set Protocol is a set of smart contracts, tools, and specifications for issuing baskets of assets on blockchains.

In a Set smart contract, tokens are issued by performing an atomic swap between the underlying tokens and the new Set token. The underlying tokens sent to the ownerless contract are trustlessly held as collateral. The new Set is an ERC20 token, which can be exchanged and traded like other tokens.

Use Cases

Index Token / ETF

Invest in a single Set that represents a basket of tokens like the S&P 500 or DJIA

Processing Files

Use a single token to process and store a file in a distributed manner

Our Team

Our team is a group of individuals with backgrounds in engineering, business, and design. We are passionate about pushing the boundaries of what can be done with decentralized technologies. We're focused on building the tooling and applications that help us get there.

Felix Feng

CEO

Investor at Turing Capital. Previously at Radius and 21.co. B.S. from UC Berkeley

Inje Yeo

CPO

Previously Senior Software Engineer at GoDaddy and Bcoin. BFA from RISD

Alex Soong

CTO

Previously at Square, Caviar, Apple and Zynga. 
B.S. from UC Berkeley

Justin Chen

Engineer

Lead engineer at Airbnb. 
M.S. Stanford & B.S. from UC Berkeley

Brian Weickmann

Technical Operations

Self-taught engineer. Previously at DRW. B.S. from University of Colorado

Advisors

Michael Karnjanaprakorn

Founder of Turing Capital and CEO of Skillshare

Steve Jang

Founder of Kindred Ventures, and Investor in Coinbase and Uber.

Paul 
Veradittakit

Partner at 
Pantera Capital

We're Hiring

We are looking for outstanding technologists and operators to help us build the next generation of finance.

Interested in joining?

View Angelist Listings

Introducing TokenSets

We’re excited to announce TokenSets, a consumer-facing platform that allows anybody to explore, buy, sell, create, and manage Sets that will launch in mid-2018.