According to the investment report of Polychain Capital obtained by Coindesk, the annual return of the cryptocurrency hedge fund of Polychain Capital was a loss of 2.7% in 2016, a profit of 2,278.8% in 2017, and a loss of 60.4% in 2018. As of November last year, The annual return for 2019 is 56.1%. Coindesk commented that the large fluctuations in the fund’s annual rate of return also show the sharp fluctuations in the cryptocurrency market, but investors who hold funds during the overall life of the hedge fund can earn up to 1332.3% net, so long-term investments may be offset Partial risk. Coindesk also stated that the lock-up period of Polychain Capital’s hedge fund is at least six months, and this duration brings greater risks to short-term investors with low liquidity. Whether or not the return is realized depends on the investors of Polychain Capital, including famous risks When are investment companies Andreessen-Horowitz, Founders Fund, Sequoia Capital, Union Square Ventures depositing or withdrawing funds. According to Coindesk’s calculations, the maximum increase in the six-month duration is a 529.5% return from January to June 2017, and the largest decrease is a 47.6% return loss from July to December 2018.