Betoken is a decentralized hedge fund built on the Ethereum blockchain that invests in ERC20 tokens. Betoken relies on a large pool of managers to make investment decisions, each of whom maintains a portfolio using a portion of the fund. Individual portfolios are compiled into good investment decisions on the fund level using a unique decision making system we call “Incentivized Meritocracy”, where control over investment decisions is continuously redistributed to managers who make the most profitable investments.