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Topic: [ANN][FOTA][NEW BOUNTY] FORTUNA – The First Blockchain OTC Derivatives Platform! - page 2. (Read 16567 times)

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The testnet of Fortuna’s public chain and Web wallet are now live. Also, FOTA will be listed on two new exchanges by the end of the week.



The testnet of Fortuna’s public chain is live starting Jun 25th, 2018. It now supports functions, such as, creating multiple wallets, making transfers/deposits, registering as a delegate, voting, block/transaction queries, etc.

Meanwhile, the first version of our digital web wallet has also been released ahead of schedule. The FOTA wallet was initially scheduled for release in Q3, yet we have made significant progress and decided to give the community an early look. Additionally, FOTA, the token of Fortuna will be listed on two new exchanges, which will bring the total number of exchanges to eleven.

The first blockchain project of the Yale Alumni will officially embark to explore the vastness of Finance. We are on the road to becoming the world’s No.1 public chain in finance!

Testnet Link: testnet.fota.io


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Weekly Fortuna News, Issue 015

Welcome to see Fortuna how to build a first financial public chain



Dear Fortuna supporters,

Please find the weekly edition of Fortuna News below! As always, thanks for being a great community, and enjoy the read!

Founder Brian Cai’s Foreword

Dear Fortuna Community,

Last week, Zhejiang University Fortuna Blockchain Center was founded. We are very glad to have made this cooperation with Director of Zhejiang University Information Technology Center, Professor of College of Computer Science and Technology, ZJU (Former Associate Dean) and Doctoral Supervisor Chen Wenzhi. This allows us to add to, and use, very advanced research into the application of blockchain technology. We complement eachothers work and in the future can tap into a wealth of information.

At the same time, we are very happy with the exposure from Xinhua News Agency, people.com.cn, Caijing.com.cn, caixin.com, ifeng.com, chinanews.com, huanqiu.com, china.com.cn, toutiao.com, Zhejiang Daily, jinse.com, huoxun.com, 8btc.com, GMTech, iterduo.com as well as a dozen blockchain newsoutlets such as We Media’s support, Blockchain Diurnal, biquanlieren and chdblockchai covered the story.

We welcome you all to see how Fortuna will build the first financial public chain in 2018.

-Visual FORTUNA-

Behind the scenes #15

Technology Research and Development

Black Friday Derivatives Trading Platform: Black Friday platform V1.1 version has been launched in time. We have added ETH options as planned. Additionally, we will start launching new options once every two weeks.

Fortuna’s mainnet: Product manager has freed up time which resulted in the Blockchain wallet’s progress getting back on track. We are developing Double Kill version now. However, some demand has been changed. The iteration plan is changed a little.

Fortuna’s community BBS: The testing and related issues were completed this week and the online plan was not changed at the end of May.

Quantifying and Modeling

Complete implementation and packaging of all modules required for a single European option on the Black Friday platform;

Listed dozens of industry and/or academic papers on quantitative market, which are currently being analyzed and integrated;

Analysed the needs of in-house quantitative and non-quantitative trader teams.

Marketing and PR

The second Fortuna Forum:
For the Fortuna Forum offline activities we invited all kinds of partners (from We media, exchanges and capital institutions). We prepared film equipment, recorded video on site, had a photographer to capture the day. We prepared roll up banners and the like.

Chinese community operations:
Collect Bounty mission statistics; Contacted two overseas exchanges and reached an agreement;

Overseas community operations:
Released the Weekly Fortuna News, Issue 014; Translatde and published articles on the establishment of Zhejiang University Fortuna Blockchain Center;

The collection and optimization of bounty program community recommendations;

Follow-up on the operation of the Russian community; Delivered overseas employee’s cards and cultural shirts, etc.

Part-time and full-time community operators’ interviews and follow-up;

Fortuna community BBS:
BBS forum bug detection and report; BBS’s registered email and writing of forgetting password’s email; BBS’s copy content optimization and feedback;

Content operations:

The official account is updated by releasing the Weekly Fortuna News, Issue 014; Fortuna Forum content’s preparation, including newsletters; Do the issuance schedule, connect with external media channels, publish in self-built accounts, and collect media announcements.

Furthermore, FOTA tokens have been listed on two more overseas exchanges on May 28th, which adds the total number of overseas FOTA-listed exchanges up to nine.

Talent Hunting



A total of 154 resumes were reviewed this week. 40 were interviewed and 1 admitted;

New employees breaking ice and we organised a grant May birthday party for all employees who had their birthday in May, this proved a great opportunity to get to know eachother better;

Warm regards,

Fortuna
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Hello, good to see a lot of news and updates. Those interviews with top bounty hunters are really interesting. Good idea.

Thank you, your support is greatly appreciated Smiley
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Hello, good to see a lot of news and updates. Those interviews with top bounty hunters are really interesting. Good idea.
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The establishment of a blockchain research collaboration between Fortuna and Zhejiang University.
In response to the spirit and instructions of Zhejiang Provincial Government’s Blockchain Technology and Application Conference and the Governor of Zhejiang Province, Yuan Jiajun, “Building blockchain innovation highlands, building blockchain application highlands, creating a blockchain talents highlands and building a blockchain development ecosystem”.

On May 26 2018, Zhejiang University Fortuna Blockchain Center was founded. Director of Zhejiang University Information Technology Center, Professor of College of Computer Science and Technology, ZJU (Former Associate Dean) and Doctoral Supervisor Chen Wenzhi will serve as the directors of the Zhejiang University Fortuna Blockchain Center. Additionally, they will also serve as a strategic consultant for Fortuna.




Director Chen Wenzhi and Brian Cai, the founder of Fortuna delivered a keynote speech at the ceremony.




Thus far, Zhejiang University has applied for 6 blockchain patents and published 7 blockchain papers. They are in the lead compared to many domestic universities. At the same time, Zhejiang University will begin a blockchain and digital currency course for the more senior undergraduates and postgraduates in September this year. This is the first blockchain-related course offered by domestic Chinese universities. On top of that, Zhejiang University will also consider the addition of blockchain-related professional orientations and set up corresponding postgraduate courses to cultivate research talents.

In the field of blockchain, the strength of Zhejiang University can’t be underestimated. From alliances with chain technology experts/enterprises to several blockchain financial enterprises, from experiments and research institutes to investment agencies, Zhejiang University has a large number of people with influence and power.

To name a few:
Huang Butian (founder of YUNPHANT BLOCKCHAIN), Li Wei (founder of Fun Chain), Wu Sijin (founder of 33.CN), Zhang Xiaodong (co-founder of Fortuna), Xie Hanjian (co-founder of Cryptape), Du Yu (director of Wanxiang blockchain laboratory), Zhang Yifeng (dean of ZHONGCHAO blockchain technology research institute) and Chen Weixing (founder of FUNCITY Capital).

Milestones and a New Starting Point

At the inaugural ceremony, Director Chen Wenzhi stated that blockchain technology, as a new revolutionary database technology, will help transform the Zhejiang provincial government on different levels. It also exerts significant influence on Zhejiang’s provincial government’s work, industrialization and people’s lives in general. The establishment of a blockchain research center between Fortuna and Zhejiang University is both a milestone and a new starting point. The two parties will play their respective advantages and will promote blockchain technology adoptation at the application level.








The Integral between the square

At the ceremony, Brian Cai, founder of Fortuna, stated that there is too much opaqueness and indirectness, to high cost and low efficiency in the traditional financial sector. The blockchain technology is a new type of financial technology depriving trust and a distributed database technology that is difficult to falsify. It will have an immense impact on the financial sector. Fortuna hopes to develop a financial public chain of BAAS architecture with good storage security, risk isolation, good transaction performance and create comprehensive distributed financial activities. At the same time, unlike other public chains, Fortuna hopes to dig deeper into the sub-sector market for OTC financial derivative products to create a well-experienced distributed financial application. This to refine its own technological development capabilities for distributed financial activities and then look for partners with related resources and operational experience who will work together to co-create these financial activities, including distributed banking, mutual insurance, family trust and asset securitization. The Blockchain research center between Fortuna and Zhejiang University will give full play to the advantages of school-enterprise cooperation. They will use blockchain technology and focus on issues such as the peer-to-peer trust mechanism in the financial market, the issue of guarantee-cost reduction and transaction efficiency issues. Fortuna and Zhejiang University hope to open up a new road for the application of blockchain in the financial sector.



Let’s wait and see, in the days to come, what the collaboration between Fortuna and Zhejiang University will bring. How will we shape the future of blockchain finance?

Chen Wenzhi



Professor Chen Wenzhi, Doctoral Supervisor, Director of IT Center for Zhejiang University, Former Associate Dean of Computer Science and Technology Department, Member of IEEE/ACM, Vice-president of ACM SIGCSE, Senior Member of CCF. Doctor Wenzhi’s major research focuses are cloud computing, distributed systems, big data platforms, blockchain technology and network information security. He has published nearly 100 notable papers and obtained 20 plus national invention patents. Furthermore, he has also served as a reviewer for many academic journals and was a member of several international conference program committees. Last but not least, he has received numerous national and provincial awards in science, technology, and teaching.

Brian Cai



Brian received his Master’s degree from Yale University, majored in Computer Science. He won the first prize at the International Mathematical Contest in Modeling. At the age of 26, he began to serve a cadre of divisions of a state-owned bank. Brian was the director of the private banking department of the Zhejiang Provincial Branch of BoComm, which is a national bank in China. He has worked in New York, London, Hong Kong, Shanghai and Hangzhou, in investment banking, corporate finance and private banking. Brian founded Fortuna in 2017. His aim is to create the №1 China’s financial public chain and the first OTC financial derivatives market blockchain solution in the world.
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Fortuna Blockchain have been officially listed on the following exchanges:

@Hotbit_io & @Bitrabbit_Team

Fortuna Blockchain did get some feedback from the community indicating that they do not want to hear exchange announcement until they happen. Would you want to hear the news in advance?

https://twitter.com/FortunaBlockch1/status/1001118821594288133
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Dear Fortuna Supporters,

Exciting news! Fortuna is launching ETH underlying options on our Black Friday platform! Additionally, the Black Friday platform now has a Chinese and English version.

We will start launching new options once every two weeks. Make sure you stay tuned.

Enjoy using our Black Friday platform!
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Dear Fortuna Supporters,

We have just released our weekly news issue #014. Check it out!

Medium

Twitter
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We've released our Third Interview with one of Fortuna's best Hunters!


Also be sure to join our Hunting Lobby
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Congratulations for your partnership with University.

I bought FOTA at 20 cts and Now I hold. Project is great.
Your team is very active.
I think that the regulation could boost your project

Thank you, your support is greatly appreciated!!  Grin Grin
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Congratulations for your partnership with University.

I bought FOTA at 20 cts and Now I hold. Project is great.
Your team is very active.
I think that the regulation could boost your project
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Hello everyone! Grin

Check out this article written by one of our community members to get a better understanding of our OTC derivatives trading platform "Black Friday"

Check the article out here!
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We've just released our second interview with one of Fortuna's best Hunters!

Read more about it here

/">What should we list next?
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How will Fortuna continue to reward users and maintain customers after the initial product launch in Q4? Will they offer airdrops or any discount on trades for the fees which people need to pay to use the product?

Hello etopster!

FOTA has many other utilities such as payments for quoters, arbitrators and contract template creators. This along would create a healthy ecosystem for FOTA, especially with the growth of Fortuna’s user base  Grin
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How will Fortuna continue to reward users and maintain customers after the initial product launch in Q4? Will they offer airdrops or any discount on trades for the fees which people need to pay to use the product?
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I like the idea of your project. But I'm curious what benefit the blockchain would have for a project like this?
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To learn how to use the BETA version of Fortuna called Black Friday, check out this video!
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A Letter from Brian Cai(Founder and CEO of FORTUNA) #005
The success of an enterprise depends on the first 10 people

Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!
After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

Update

Many friends have asked me what I am doing recently. It seems that they haven’t heard my voice for a while, I have been working tirelessly and have not been able to tell them about Fortuna yet. That is also why I originally chose to write “A Letter from Brian Cai(Founder and CEO of FORTUNA)”. To keep everyone up to date on what is going on.

I would like to start out and say that we have been very busy recently. Busy with building products and recruiting people. But especially with achieving the goals we had set for ourselves to be completed per the first quarter: the design and development of FORTUNA’s derivatives trading system of single-node version.
Why will we start with a single-node version of the derivatives trading system (and not with a multi-node mainnet)? I am happy to share this with you and get a little technical:

Excellent methodology with both mobile internet and blockchain

The most powerful methodology of the mobile internet is the A/B version test. This simple and crude method was born in the mobile era and enables a company to try different versions simultaneously and compare results. It is a type of experimentation that is short, frequent, and fast. This methodology has become notorious for pushing out traditional companies that were focused on one-year-version updates.


One of the most important features of blockchain as an autonomous and self-managed distributed network is that it cannot be tampered with. Data can’t be tampered with, rules can’t be tampered with, and this means that many mobile internet era’s methods are not fully suitable for the blockchain domain. How to better inherit and use the excellent methodologies and tools of the mobile Internet? Personally, I think that using a single-node version as a trial and leveraging the rapid verification and continuous trial-and-error methodology can be very beneficial before publishing a fully distributed main net version.

Data formatting and risk control modeling

Some of the core components involved in managing derivatives are the risk control and pricing models. These models are so important that they are said to determine the survival of the investment companies that make derivatives their main business. Because of the quantitative complexity, the core of the derivatives-related companies is usually run by experts from the quantitative fields. After the subprime mortgage crisis of 2008, the quantitative risk management department and the model validation department started to play an increasingly more important role in many large organizations and hedge funds.
To attune the quantitative models, it is important to have real historical data. So, how can we quickly accumulate historical data? Using a crawler is one method. Self-done accretion is another method. A single-node version of a derivatives market will become a great business data accumulation method. Just like our Chief Product Inspector Z. T. said, “Sooner or later, the digital currency space will also become a data processing and service company akin to Bloomberg. Given it’s bound to happen, why can’t it be us?”

Environmental Construction and Investors’ Education

In the past China’s derivatives exchanges had derivatives that linked to stocks, such as options and warrants. In 2005, the Chinese market had launched seven additional stock-linked warrants (similar to derivatives such as stock and options). It is said that at that time, relying solely on the trading volume of these seven warrants, China ranked first in the world in terms of trading volume of stocks and warrants.
However, due to the failure of investors’ education at that time, many investors did not know that warrants should be exercised on the exercise date. Many investors did not exercise their rights before the expiry of the exercise date, resulting in zero value of these warrants once they expired. This led to many unfortunate incidents.
Fortuna’s (single-node) derivatives trading platform will prioritize beneficial and simple derivatives: ‘Option Iron Butterfly’ and ‘Binary Synthetic Option’ based on mainstream digital currencies, and all options will have an “automatic exercise” mechanism that will be set up to avoid unnecessary trouble for investors.


In summary, designing and developing Fortuna’s single-node derivatives trading platform is not only an explanation of Fortuna’s vision, but more importantly the overall strategic deployment of Fortuna’s product. As I often say, the “technology roadmap” is very important. Promises and commitment are very important, but the most important thing must be the team and making the business tangible. Otherwise, all this is just a game of “weaving bubbles and dreams together”, leaving codes but leaving no productivity, creating memories but not making sense.
In fact, the success or failure of a business often depends on the first ten people who joined the company. The advantage of starting with a small team is not in being small, but because you can choose members.


I remember an analogy from the book “Hackers and Painters.” It roughly says that big companies are like giant ancient Roman warships. One thousand crew members paddle at the same time to make the battleship go forward. However, there are two core factors that make this giant battleship unable to be fast:
Firstly, nobody notices that their efforts to paddle makes the battleship move faster;
Secondly, the speed of battleships depends on a thousand people, which greatly averages individual efforts and achievements.

Ancient Roman Battleship

If you select 10 people from a thousand people to make a relatively sized boat, it will move faster than the battleship itself. It will be faster, because working hard is encouraged, and inactiveness is discouraged. The boat is a cooperative park and athletic field that is naturally suitable for the survival of the fittest.
At this point Fortuna has only existed for three months. As you can imagine this is a very short time spent for a project, let alone running a company. We have grown rapidly during this time and I have spent the most time and energy in attracting like-minded and talented people to join the party. I believe that this is one of the most important things in the development of Fortuna.
Fortuna has now gathered a small group of powerful “fans” in their respective fields (blockchain technology, financial derivatives, trading systems, business operation, etc.) and together we are making progress very quickly. This is one of my happiest and proudest experiences.
Thanks for reading and see you next time!
Brian Cai.


Follow us on social media:
Telegram: www.t.me/FortunaGlobal
Twitter: www.twitter.com/FortunaBlockch1
Reddit: https://www.reddit.com/r/FortunaBlockchain/
LinkedIn: www.linkedin.com/company/fortuna-blockchain/
Website: www.fota.top
Facebook: www.facebook.com/fortunablockchain/
Email: [email protected]
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