Topic: [ANN] [USDbitfnx]The first dividend paying USD asset (~60% p.a.)Auditor=Damelon! - page 2. (Read 8855 times)
July 28, 2014, 10:40:45 PM
we all do not like ae system
July 28, 2014, 09:37:40 PM
Daily Interest Update:
Only 1 more day till the first dividend will be paid!
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Day 6: $15.94
Accumulated: $69.55
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
Regards
Only 1 more day till the first dividend will be paid!
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Day 6: $15.94
Accumulated: $69.55
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
Regards
SO if I own an asset, you just pay the dividend to my NXT wallet address?
July 28, 2014, 08:55:38 PM
Daily Interest Update:
Only 1 more day till the first dividend will be paid!
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Day 6: $15.94
Accumulated: $69.55
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
Regards
Only 1 more day till the first dividend will be paid!
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Day 6: $15.94
Accumulated: $69.55
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
Regards
July 28, 2014, 03:52:07 PM
Interest:
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Accumulated: $53.61
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
sdfsdfsdfsdfdsfsdf?
I broke my tongue when I tried to speak that.
This is due to the digit limitation in the NXT asset name
Optimally it would be called USDbitfinex!
Day 1: $2.12
Day 2: $8.90
Day 3: $12.54
Day 4: $14.77
Day 5: $15.28
Accumulated: $53.61
Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Projected total payout on day 7/8: $85.61
Projected payout per USDbitfnx on day 7/8: 0.0068USDbitfnx/USD (6.8 USDbitfnx per 1000 USDbitfnx)
The actual payout per 1000 USDbitfinx will eventually even out at around 0.8-1% (per week)
Quote
usdbitfnx
sdfsdfsdfsdfdsfsdf?
I broke my tongue when I tried to speak that.
This is due to the digit limitation in the NXT asset name
Optimally it would be called USDbitfinex!
July 28, 2014, 03:44:18 PM
Quote
usdbitfnx
sdfsdfsdfsdfdsfsdf?
I broke my tongue when I tried to speak that.
July 28, 2014, 03:42:21 PM
Hey guys, USDbitfnx here!
Today I am presenting you the first USD asset on the NXT asset exchange, that will be backed by real USD deposited on bitfinex.com. The USD will be used to provide liquidity for traders on bitfinex and will in return pay intrest. This interest will be distributed once every 2 weeks to the asset holders of USDbitfnx. Assets can be either bought on the NXT asset exchange or by contacting me and depositing BTC or NXT.
The main discussion topic can be found here: https://nxtforum.org/index.php?topic=3884.0
Details about the swap program of bitfinex, can be found here: www.bitfinex.com/pages/howitworks
Stats about the historical rates of those swap agreements, can be found here: www.bfxdata.com/swapstats/usd.php
Forum Administrator Damelon agreed to do an audit once a month, starting from the point we reach 10,000 USD in the bitfinex account! Thank you!
For those unfamiliar with the NXT asset exchange, you can find details here: http://wiki.nxtcrypto.org/wiki/Asset_Exchange
A very easy way to use the NXT asset exchange is: https://trade.secureae.com/#10294386916428132892
The spreadsheet is now online and I will try to update it daily
https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Name: USDbitfnx
Quantity: 5,000,000
Asset Decimals: 2
Asset ID: 10294386916428132892
Description: Each 1 USDbitfnx asset represents 1 USD deposited at [ur=https://www.bitfinex.com/?refcode=1NrFf6t4Nrl]bitfinex.com[/url] . The USD deposited at bitfinex will be used to provide liquidity to margin traders that pay a fee for that service. This interest is paid daily into our account and is currently hovering at about 0.16% per day(~60% yearly return). This dividend will be distributed proportionally to USDbitfnx holders every two weeks. Details about fees, risks and how to deposit, can be found in this thread on nxtforum.org: https://nxtforum.org/index.php?topic=3884.0
Bitfinex USD Asset
Promoter(s)
Bitfinex_USD
What is it?
Each 1 USDbitfnx asset represents 1 USD deposited at bitfinex.com . The USD deposited at bitfinex will be used to provide liquidity to margin traders that pay a fee for that service. This interest is paid daily into our account and is currently hovering at about 0.16% per day. This dividend will be distributed proportionally to USDbitfnx holders every two weeks.
How many shares to be created?
5,000,000
How many shares to be sold?
The amount of USD in the bitfinex account will determine how many USDbitfnx assets will leave the Issuer Account.
What price will they be sold at?
Market price, whatever people judge them to be worth.
Nxtforum discussion
https://nxtforum.org/index.php?topic=3884.0
Nxt account used to issue assets
NXT-BQK9-UDGP-2Q97-49H3L
2956023623281072679
Asset ID
10294386916428132892
Ticker Symbol
USDbitfnx
FAQ:
How to deposit BTC or NXT?
BTC deposit: Just send me a PM here or on NXT-BQK9-UDGP-2Q97-49H3L and I will provide you with a BTC-Deposit address. The BTC will then be exchanged for USD asap on bitfinex. The equivalent USD amount will be sent to your NXT account using the USDbitfnx asset.
NXT deposit: Just send me a PM here or on NXT-BQK9-UDGP-2Q97-49H3L and I will provide you with a NXT-Deposit address. These NXT will be sold on bter.com and the BTC transferred to bitfinex.com. The BTC will then be exchanged for USD asap on bitfinex. The equivalent USD amount will be sent to your NXT account using the USDbitfnx asset.
Hint: Please think about depositing BTC, rather than buying USDbitfnx on the AE in the beginning, to increase the liquidity of this asset!
Who am I?
I am a senior member of the NXT and bitcointalk community that is active and registered for four years. Due to regulatory risks, I try to keep my identity as separate from this project as possible. Administrator and community member Damelon agreed to verify this and will confirm this in this thread soon. He also knows my real identity and if I go rouge he will release my identity.
How will the USD be managed?
The USD will be invested in the swap-market on bitfinex and this will happen actively, so I will likely outperform the average lender there.
How will the dividends be paid?
Every 11200 blocks or 2 weeks the dividends will be paid. Every asset holder of USDbitfnx will receive his dividends paid in USDbitfnx. Example (ignoring fees): Lets assume there are two USDbitfnx holders with 400 and 600 assets. Now 25 USD in interest was earned in the last two weeks. This will now be distributed in the following way: 25/(400+600)* 400 = 10 USD 25/(400+600)*600 = 15 USD. Assuming that 1 NXT is worth 0.05 USD, then assetholder 1(400 USDbitfnx) gets 9.95 USDbitfnx as dividend and assetholder 2(600 USDbitfnx) gets 14.95 USDbitfnx.
How much fees do you charge?
Deposit with BTC: Only the 0.1% exchange fee on bitfinex!
Deposit with NXT: Only the 0.1% exchange fee on bitfinex and the 0.2% fee + 0.0006 BTC charged by bter.com!
Withdraw with BTC: 0.1% exchange fee + 0.5% personal fee (min 5 USD)
Dividend Fee: 1 NXT + 5% of the dividend amount
These fees are not permanent and can be subject to change!
How do you prove that you don't run a fractional reserve? Audit?
I have already asked Damelon if he could make an audit once a month, and I am sure that I will find someone very trustworthy to do this once a month (or on request!).
What risks are involved when holding this asset?
-Exchange risk: Holding USD will make you experience quite some volatility measured in BTC or NXT.
-Insolvency risk: Even though Bitfinex is a registered company and currently very profitable, a market shock, a hack or severe mismanagement (like mtgox) could happen.
-Theft risk: I will try my best to keep the funds safe and will use all security measures provided by bitfinex (2FA ect) to secure the account, still it is not possible to prevent every aspect of attacks.
-Trust risk: You will have to trust me to not run away with the funds. Given the fact that the administrator of this forum knows my identity, this scenario is pretty unlikely though.
What is the current balance of the bitfinex account?
The name of the USDbitfnx account is: NXTpassthrough
Current balance of the account: $12450
The spreadsheet is now online and I will try to update it daily
https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Do you have a refferal code, so that I can get 10% fee discount?
https://www.bitfinex.com/?refcode=1NrFf6t4Nr
Today I am presenting you the first USD asset on the NXT asset exchange, that will be backed by real USD deposited on bitfinex.com. The USD will be used to provide liquidity for traders on bitfinex and will in return pay intrest. This interest will be distributed once every 2 weeks to the asset holders of USDbitfnx. Assets can be either bought on the NXT asset exchange or by contacting me and depositing BTC or NXT.
The main discussion topic can be found here: https://nxtforum.org/index.php?topic=3884.0
Details about the swap program of bitfinex, can be found here: www.bitfinex.com/pages/howitworks
Stats about the historical rates of those swap agreements, can be found here: www.bfxdata.com/swapstats/usd.php
Forum Administrator Damelon agreed to do an audit once a month, starting from the point we reach 10,000 USD in the bitfinex account! Thank you!
For those unfamiliar with the NXT asset exchange, you can find details here: http://wiki.nxtcrypto.org/wiki/Asset_Exchange
A very easy way to use the NXT asset exchange is: https://trade.secureae.com/#10294386916428132892
The spreadsheet is now online and I will try to update it daily
https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Name: USDbitfnx
Quantity: 5,000,000
Asset Decimals: 2
Asset ID: 10294386916428132892
Description: Each 1 USDbitfnx asset represents 1 USD deposited at [ur=https://www.bitfinex.com/?refcode=1NrFf6t4Nrl]bitfinex.com[/url] . The USD deposited at bitfinex will be used to provide liquidity to margin traders that pay a fee for that service. This interest is paid daily into our account and is currently hovering at about 0.16% per day(~60% yearly return). This dividend will be distributed proportionally to USDbitfnx holders every two weeks. Details about fees, risks and how to deposit, can be found in this thread on nxtforum.org: https://nxtforum.org/index.php?topic=3884.0
Bitfinex USD Asset
Promoter(s)
Bitfinex_USD
What is it?
Each 1 USDbitfnx asset represents 1 USD deposited at bitfinex.com . The USD deposited at bitfinex will be used to provide liquidity to margin traders that pay a fee for that service. This interest is paid daily into our account and is currently hovering at about 0.16% per day. This dividend will be distributed proportionally to USDbitfnx holders every two weeks.
How many shares to be created?
5,000,000
How many shares to be sold?
The amount of USD in the bitfinex account will determine how many USDbitfnx assets will leave the Issuer Account.
What price will they be sold at?
Market price, whatever people judge them to be worth.
Nxtforum discussion
https://nxtforum.org/index.php?topic=3884.0
Nxt account used to issue assets
NXT-BQK9-UDGP-2Q97-49H3L
2956023623281072679
Asset ID
10294386916428132892
Ticker Symbol
USDbitfnx
FAQ:
How to deposit BTC or NXT?
BTC deposit: Just send me a PM here or on NXT-BQK9-UDGP-2Q97-49H3L and I will provide you with a BTC-Deposit address. The BTC will then be exchanged for USD asap on bitfinex. The equivalent USD amount will be sent to your NXT account using the USDbitfnx asset.
NXT deposit: Just send me a PM here or on NXT-BQK9-UDGP-2Q97-49H3L and I will provide you with a NXT-Deposit address. These NXT will be sold on bter.com and the BTC transferred to bitfinex.com. The BTC will then be exchanged for USD asap on bitfinex. The equivalent USD amount will be sent to your NXT account using the USDbitfnx asset.
Hint: Please think about depositing BTC, rather than buying USDbitfnx on the AE in the beginning, to increase the liquidity of this asset!
Who am I?
I am a senior member of the NXT and bitcointalk community that is active and registered for four years. Due to regulatory risks, I try to keep my identity as separate from this project as possible. Administrator and community member Damelon agreed to verify this and will confirm this in this thread soon. He also knows my real identity and if I go rouge he will release my identity.
How will the USD be managed?
The USD will be invested in the swap-market on bitfinex and this will happen actively, so I will likely outperform the average lender there.
How will the dividends be paid?
Every 11200 blocks or 2 weeks the dividends will be paid. Every asset holder of USDbitfnx will receive his dividends paid in USDbitfnx. Example (ignoring fees): Lets assume there are two USDbitfnx holders with 400 and 600 assets. Now 25 USD in interest was earned in the last two weeks. This will now be distributed in the following way: 25/(400+600)* 400 = 10 USD 25/(400+600)*600 = 15 USD. Assuming that 1 NXT is worth 0.05 USD, then assetholder 1(400 USDbitfnx) gets 9.95 USDbitfnx as dividend and assetholder 2(600 USDbitfnx) gets 14.95 USDbitfnx.
How much fees do you charge?
Deposit with BTC: Only the 0.1% exchange fee on bitfinex!
Deposit with NXT: Only the 0.1% exchange fee on bitfinex and the 0.2% fee + 0.0006 BTC charged by bter.com!
Withdraw with BTC: 0.1% exchange fee + 0.5% personal fee (min 5 USD)
Dividend Fee: 1 NXT + 5% of the dividend amount
These fees are not permanent and can be subject to change!
How do you prove that you don't run a fractional reserve? Audit?
I have already asked Damelon if he could make an audit once a month, and I am sure that I will find someone very trustworthy to do this once a month (or on request!).
What risks are involved when holding this asset?
-Exchange risk: Holding USD will make you experience quite some volatility measured in BTC or NXT.
-Insolvency risk: Even though Bitfinex is a registered company and currently very profitable, a market shock, a hack or severe mismanagement (like mtgox) could happen.
-Theft risk: I will try my best to keep the funds safe and will use all security measures provided by bitfinex (2FA ect) to secure the account, still it is not possible to prevent every aspect of attacks.
-Trust risk: You will have to trust me to not run away with the funds. Given the fact that the administrator of this forum knows my identity, this scenario is pretty unlikely though.
What is the current balance of the bitfinex account?
The name of the USDbitfnx account is: NXTpassthrough
Current balance of the account: $12450
The spreadsheet is now online and I will try to update it daily
https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml
Do you have a refferal code, so that I can get 10% fee discount?
https://www.bitfinex.com/?refcode=1NrFf6t4Nr
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