{Set}: A specification for token abstraction

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

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.

High Transaction Fees

Sending multiple tokens means multiple transactions

Sending tokens with ethereum cost.

No Bundling

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

Separated tokens.

Welcome to {Set}

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 {Set}, an abstract token that represents a basket of tokens.

ERC20 + Issue + Redeem

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

A thin protocol layer over the ERC20 token standard.

Fully Collateralized

{Set} smart contracts trustlessly hold the underlying tokens

Tokens locked in a smart contract.

Redeemable

Any {Set} can be traded for its underlying tokens

Tokens unlocked from the smart contract.

Composable

Like building blocks, {Set}s can be used to build other {Set}s

Blocks stacked on top of each other to create a super set.

How it works

{Set} 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

A set of tokens.

Processing Files

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

A single token used to process files.

Healthcare Package

Purchase a single healthcare package {Set} from your healthcare institution

Healthcare package set.

About us

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.

Team

felix feng

Felix Feng

CEO

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

inje yeo

Inje Yeo

CPO

Senior software engineer at Bcoin. Previously at GoDaddy. BFA from RISD

alex soong

Alex Soong

CTO

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

justin chen

Justin Chen

Engineer

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

Advisors

felix feng

Michael Karnjanaprakorn

Advisor

Founder of Turing Capital and CEO of Skillshare

inje yeo

Paul Veradittakit

Advisor

Partner at Pantera Capital

We're hiring

We are looking for outstanding technologists and operators to help us build the future of {Set}. Interested in joining?