Topic: [ANN] Crypto Exchange Traded Fund ETF - Crypto Diversification Fund (CDF) (Read 1265 times)

The btc addy is : 13PMYNVmuTadVEEfwv1TMGktiwdeYbzpys
Token name: CDFASSET
Total Tokens:  100000 tokens but expandable if there are subscriptions.


I have finally done a Counterparty token.  At first I wanted to issue a smart contract, but again the whole ETH and DAO and smart contract questions still remain...so I threw all that on hold.  Simple is better.  Simple is safer.  The exact composition of the fund will be shown tomorrow, and the indice will start off at 0.01btc finally (just a base value).  So if the fund does 10% return, one unit of the fund will be worth 0.011 btc, etc.  

Since this isnt on any exchange yet, (except for counterparty market), I propose to all that are interested to REGISTER with me (send me PM).  Tokens will be issued and redemption is available(free of charge) at ANY time you want, but only to the original btc address.  You may only do a redemption at the original btc address for those that register.  Other than that, the usual redemption period (first day of the month) is still valid, but carries a 0.5% fee.  This is a security measure in case something goes wrong.  Users that are interested can opt to buy in the fund at any time, and new tokens will be distributed.  It is interesting to note that even though the token amount increases, the Net Asset Value (edit: per unit) of the fund remains the same.


again, all input in appreciated, and if you guys want I could make this automated with a flashy webpage, but work has been pretty busy with the brexit and all (go brexit lol).

fr4nkthetank

Interested. I met somewhere in the forum topic in which asked about hedge funds and hedge. Perhaps this here will be of interest.

Hey everyone !

I've been playing around with different code and tokens to see whats easiest/more adapted to the situation.  this isnt really like any other crypto coin so bear with me.  As for my track record....hmm considering I do work for a private firm I can really upload account statements.  I'll break it down though for you guys if that interests you   This month has been good due to brexit and lots of volume on the open/close, which is where I usually make my money.

Active volume: 1671380
Passive Volume: 1772500

So this month i'll be paying out a little bit in exchange fees.  Last month I got 4047.79$ in rebates.  Paid 1053.78$ in Lending fees and interest fees (on margin so you pay interest on borrowed money, also on borrowed shares).

I can't really say what products I trade.  But i'm in Canada and do canada/us trades.  This month's P&L is about 40958.28$ including dividends to be paid.  This seems like a good amount of money, but my firm takes a cut, and I have about 1000$ give or take in fees for price feeds and charting.  proprietary platform is not charged to me.  so in my pocket its about 25-27k or something like that after everything.  I'm pretty happy, but it doesnt make me rich, considering I lost 7k last month, didnt make anything 2 months prior to that.  For the year to date i'm up for my pocket maybe 65-70k, which i'm happy about.  But it seems every few months nothing works anymore and I have to find new ways to make money.  which kinda sucks.  I've been doing this since 2007.  i'm getting pretty tired of A- giving money to my firm (lol) and B- fluctuating income.  Sorry to say, but I kinda wish for another financial crisis (like 2008), where I could make bank and go do something else with my life.  Or screw the firm and tell my boss to go fuck himself (nicely).

Curious too, you said you were already doing this IRL?
Any stats  ?

Can you post your track record (that every IRL trader has)?

I am interested in learning more about this project.

Email: [email protected]
Skype: icocountdown
Twitter: https://twitter.com/ICOcountdown
Facebook: https://www.facebook.com/ICOcountdown

Thank you.

I am in IRL a trader in finance.  Arbitrage and ETF market maker and liquidity provider. 








HOW IT WORKS:


-The fund does a Modified ICO format which has a fix value per share.  All funds are used to buy currencies that are in the fund.  There no initial fees.  The fund will invest in 15 currencies total.  At the end of each month the fund is re balanced according to market weighting.  Simply put, the fund will follow the CMCI15 INDEX (Coin Market Cap index). 

-Redemptions :  Traders can redeem CDF units for cash equivalent (in btc of course) at the NAV, at the end of the month's rebalancing.  The NAV (net asset value of the fund) is calculated daily.  All this is transparent and will be posted.  The redemptions will have a 1btc equivalent minimum to be exchanged.  This permits traders to arbitrage the fund, and permits the fund to correctly follow the NAV.  The fund is not obligated to honor all redemptions and has discretion to act in the best interest of unit holders.  Due to the recent DAO debacle, all fund transactions/monitoring/activity shall be done on a manual basis.

-Dividends : Any proceeds by POS coins held by the fund or others will be added to the fund's NAV.

-Fees :  The fees will be 0.35% yearly, calculated monthly at each re-balancing.  Can be lower as fund grows.

-Tech : The fund will be based off the SAFE network.  Initially the ETH network was to be used, but in light of recent events and persisting incertainty this was changed.



The idea is that a lot of people want to diversify from bitcoin, and this is an excellent diversification vehicule.  It is transparent and predictable.  It is self-regulating - that is - if more people buy it, the price will go higher than the NAV, and traders will arbitrage it - creating new units through the subscription/redemption process - or destroying units (inverse scenario).

This is different from a normal scam coin ICO.  The NAV, fund holdings, and relevant information will be updated daily for all to see.  All proceeds will be held in cold wallets on an always offline system - and transfered only through the redemption process.


BOUNTIES:  The totality of the funds fees will be given out to people who want to help with this idea.  I do this IRL, so I figured why not create an ETF in the crypto world.  So PM me if you want to help or post here.  I'm looking to have people involved in this project, so we can have a real diversification option.  This will be run on the backside like a real ETF, like I do everyday. 


ROADMAP:

Right now everything is ready.  The reason this is a modified ICO is as follows :  There is no set amount of coins for sale.  Thus, a large number of coins will be created, and they will be used only for new unit creation through the subscription process.  In the redemption process, coins will be destroyed by sending them to their deaths (private keys destroyed). 


I am open to constructive feedback and help getting this on an exchange.  Although exchange traded is in the name, the functionality of the coin is not impacted if it isnt traded in the very near future on one.  The composition of the CMCI15 INDEX may change between now and launch.


This is the first fund of its kind, and I believe it serves a purpose.  A framework may be put in place in the future to automate all actions.