At Bitcoin 2024 in July, Samara Alpha Management and Bitcoin Magazine Pro announced Boreal as the winner of the Bitcoin Alpha Competition. Boreal, a market neutral DeFi hedge fund, received $1 million in seed capital and access to Samara’s institutional-grade infrastructure.
The founder of Boreal, Evan Morris, impressed the judges with a trading strategy that utilizes various DeFi protocols to generate yield on US dollars, bitcoin, and ether. Morris, with experience in both the crypto and traditional finance space, expressed optimism about generating returns in DeFi even during bearish market conditions.
Adil Abdulali, Chief Investment Officer at Samara Asset Management, praised Morris for his track record and risk framework, highlighting his expertise in DeFi. Samara plans to provide support to Morris by offering infrastructure such as admin, auditing, accounting, and banking services.
Looking ahead, Morris believes that bitcoin will play a significant role in the DeFi space. He envisions a future where different types of wrapped bitcoin and bitcoin derivatives will be integral to DeFi protocols, offering liquidity and new opportunities for growth. Abdulali echoed this sentiment, emphasizing bitcoin’s value as collateral in DeFi transactions.
As DeFi continues to evolve, Morris emphasized the advancements in cybersecurity, smart contract security, and wallet technology that have enabled the development of institutional-grade DeFi products. Abdulali encouraged Boreal to capitalize on the current opportunities in DeFi before institutional capital saturates the market.
With the promise of “juicy returns” in the DeFi space for early adopters, both Morris and Abdulali are optimistic about the future of DeFi and the role that Boreal will play in shaping the landscape of decentralized finance.