A team of cryptocurrency enthusiasts have equipped monkeys in South Africa with tablets that enable them to trade cryptocurrency. The monkeys began trading on June 26th, and by the end of July, they outperformed BlackRock ($blk) by 7.54%.
In January 2024, as the new year began, a group of crypto and finance enthusiasts discussed the book “A Random Walk Down Wall Street” by Princeton professor Burton Malkiel. Malkiel famously stated that “A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would perform as well as one selected by experts.” Amused by this idea, the group jokingly considered creating a hedge fund managed by monkeys. What started as a joke evolved into a serious project.
Further research revealed a simulation of this theory conducted by Affiliate Researchers and reported by Forbes in 2012. The data indicated that monkeys could outperform experts in 98% of cases—a finding so astonishing that the team decided to test it themselves.
They traveled to South Africa and partnered with CROW (Center for Rehabilitation of Wildlife) to install a tablet in the monkeys’ enclosure. The tablet has various bubbles on its screen, each representing a different cryptocurrency. When the monkeys tap a bubble, they place a long position on that cryptocurrency, which lasts approximately 4 hours. Trading is available for one hour a day, five days a week, with the monkeys receiving peanuts as rewards for their participation.
The aim of the Finkey team is for the monkeys to outperform Wall Street. They compare the performance of the monkeys to the best-performing fund of BlackRock, the world’s largest asset manager. In July, while BlackRock’s “iShares and Blockchain Tech ETF” ($IBLC) declined by 4.5%, the monkeys achieved a performance of 3.04%, thus outperforming BlackRock by 7.54%.
The team behind this project has turned their research into a memecoin initiative, building a community around this mission and involving them in the process. They have created a token called $FINKEY. Holders of $FINKEY can vote on specific cryptocurrencies to be listed on the monkeys’ trading screen. These are limited to large market cap cryptocurrencies to prevent market manipulation. Moreover, 50% of the profits from the monkeys’ trading are used to buy back and burn $FINKEY tokens, linking the coin’s price to the monkeys’ performance and reflecting the original vision of a hedge fund where individuals can trust monkeys with their money. The remaining 50% of the profits are redistributed to the community through airdrops, operations, and donations to wildlife non-profit organizations.
Lastly, the monkeys are live-streamed 24/7 on Kik, Twitch, and YouTube, including their trading sessions, ensuring full transparency.
More information can be found on our website: https://www.monkeyfink.io/
The performance of the monkeys are on-chain and can be verified at: https://dexcheck.ai/app/wallet-analyzer/E6FKaFaZZASaKcto5JWH1JGFgcNumhbrjyWRxg5KVP5U
The performance of BlackRock’s best performing fund can be found on their website: https://www.blackrock.com/ae/intermediaries/products/326614/ishares-blockchain-and-tech-etf
Images can be found at: https://www.monkeyfink.io/images
About $FINKEY
$FINKEY is a token on the Solana blockchain, launched on PumpFun, created on June 26th. Its uniqueness lies in its tokenomics, which are based on the real-life trading performance of monkeys. The profits from the monkeys’ trading are used to buy back and burn $FINKEY tokens, reducing the supply and potentially increasing the price. Conversely, the monkeys’ trading wallet is funded by their 3% holdings of the $FINKEY coin, meaning if they lose money, they sell their $FINKEY, which increases the circulating supply, allowing them to continue trading. The team consists of 12 people, including advisors such as Joel Comm and Travis Wright. The token has over 1,400 holders and a market cap of $300k.
Media Contact
Company Name: FINKEY
Contact Person: Mirus Yeti
Website: https://t.me/m/EOj3H13oNDM0
Email: [email protected]
State: New York
Country : USA
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