Topic: [ANN][NFD][MMNXT] New NFD Asset: NFDMMNxt (Read 4036 times)

This returns 6%/week for me.

Since i had bought NFD @1 satoshi, NFDMMNxt 2K NFD and the current NHZ price (@140) .

Good Work!!!

Quite some development here!

https://horizonplatform.io/horizon-acquires-nfd/
 

After last week's return to what used to be normal, MMNXT's weekly dividend fell back again. Today, it only passed through 136.46219067 Nxt to the NFDMMNxt_Dedicated_account. Tx ID: 17032103363827133688.

The resultant disappointment made MMNXT's price drop hard. On the good side, one of my remaining lowball bids was filled. On the bad side, though, MMNXT is harder to sell at a decent price. As of now, the spread-trading public ledger shows booked profits greater than this week's dividend but not much greater. Hopefully, some optimism will come back into the market before Sunday night.

Nxt shot up earlier this week, but has since slumped back. Fortunately, it's well above 5000 satoshis even after its slump. As I write this, it last traded at 5191. I'm still using NFD's last low ask at Bter: 3. So, the total value of the pass-through dividend is 236'125.1 NFD, or 9.45 NFD per unit of NFDMMNxt.

Here's the pay roster:

The spread-trading dividend for this week has been booked.  Luckily, all my lowball bids were hit and I managed to sell all of the surplus MMNXT at a more normal price level of a little less than 1.1 Nxt each. This week required a bit of patience, and I only squeezed out one full turn of the entire surplus in the NFDMMNxt_Dedicated_Account. But the profits for each buy-and-sell were thick enough for me to book an overall profit of 432.333999 Nxt. You can see the details for yourself by looking at the public spreadsheet ledger:

https://www.dropbox.com/s/mh7nmqsnrn1ppd2/NFDMMNXT%20Spread%20Trading%20Ledger.xlsx?dl=0

Bter is back up, but trading seems to be suspended still. So, I'm again using Poloniex's figure for Nxt. Recently, Nxt bounded back from its recent lows: as I prepared to send out the payments to NFDMMNxt holders, it traded at 4875 satoshis. NFD's last low ask at Bter was 3 and is still stuck there; the last trade was also at 3. So, the total value of the pass-through dividend is 702'542.8 NFD, or 28.11 NFD per unit of NFDMMNxt.

Here's the pay roster:


A more recent buy ladder was all taken up at the end of this last week, in part because of another huge dump, but at higher prices than the prior week's buy ladder. More significantly, at least two big buyers are beginning to catch on to the manic-depression in the MMNXT market: there's now a huge buy order of 44'000 MMNXT at 1.01 Nxt. As I write this post, the high bid's at only 1.05000011 Nxt but it's an order for 4000 MMNXT - and its from a tradebot. The buybook is thicker than usual in the low 1.0s, so a renewed bubble of optimism followed by another huge dump fest will be needed for me to book a similar spread-trading profit this coming week. Strangely: if MMNXT's own dividend dives back downhill, I'd have my chance.   

Last Friday, I paid out the dividend passed through from MMNXT itself. In a somewhat surprising rebound, MMNXT recovered from its pay slump and shot out 222.91385537 Nxt. Despite the NFDMMNxt_Dedicated_Account having only 25'000 MMNXT at the time of the dividend, due to me lying in wait with a ladder of lowball bids, the payout from MMNXT itself jumped back up to the levels near its payout for the first two weeks of NFDMMNxt's life.

The Tx ID for the dividend payout is 13895393759886010063.

Bter was still down at the time of the payout, so I used Poloniex's figure for Nxt. As of the payout time, it last traded at 4697 satoshis. NFD's last low ask at Bter was 3. So, the total value of the pass-through dividend was 349'008.8 NFD, or 13.97 NFD per unit of NFDMMNxt.

Here's the pay roster:

The weekly spread-trading dividend has been booked, but unfortunately sent out a day late. This week, I managed to bounce back some what from last week's low payout. My strategy is evolving into a wait for a dump, with lowball orders laddered, which I sell at higher prices once the market recovers. This strategy, although it results in fewer turns, is working right now. As a result of it, this week's dividend is back above MMNXT's own. Specifically, it's 202.890022 Nxt.

You probably know of the huge Bter hack already. Since Bter's still down, I'm using Poloniex's figure for Nxt. As I write this, it last traded at 4864 satoshis. NFD's last low ask at Bter was still 3. So, the total value of the pass-through dividend is 328'952.4 NFD, or 13.16 NFD per unit of NFDMMNxt.

Next week's spread-trading dividend is likely to be above MMNXT's own, as a large hasty dumper hit my lowball ladder of bids two days ago; after which, the market mostly recovered. Barring another torpedoing, I should be able to unload the buys of two days ago with some nice gains. After the weekly period closed, one sell order has already been hit; the profits from it will make up part of the coming week's dividend. You can audit last week's performance and see how I'm doing by accessing the NFDMMNxt public spreadsheet ledger at any time.

Here's the pay roster:

Well...the MMNXT dividend fell again, considerably. As this block explorer link shows, the weekly take from MMNXT itself was only 106.62739392 Nxt. This drop occurred for two reasons: MMNXT's trade- and arbitrage bots are making less than they used to, and I held less MMNXT at the time of the dividend than last week. I managed to unload most of the NFDMMNxt_Dedicated_Account's surplus MMNXT at higher prices than those prevailing now, because I feared another drop in the MMNXT dividend. Anticipating another whaledump after the lowered dividend, I also put in a ladder of orders from MMNXT between 1.01 and 1 Nxt. That whaledump didn't take place this week, but a series of dumps may still hit my bids. As the spread-trading public ledger stands now, I'll book profits that are well above MMNXT's own dividend. Even if the running total right now is still below MMNXT's prior dividends, when market conditions were better.

For the record, the Tx ID of the pass-through dividend is 12628179727534687053. You can see it as an Ordinary Payment in the block-explorer page for the NFDMMNxt_Dedicated_Account NXT-QQKJ-SWLJ-CPX4-3QXXW.

Nxt itself is still going through a rough time as it stays stuck below 5000 satoshis. I'm of the opinion that Nxt below 5000 is a bargain, but what would I know. Since NFD's low ask is still holding steady at 3, the implied price of Nxt in NFD terms is 1636.67 NFD per Nxt. With the dividend being 106.62739392 Nxt, the total value of the pass-through dividend is 174'513.5 NFD or 6.99 NFD per unit of NFDMMNxt.

Here's the pay roster:


 

Sadly, MMNXT's lower dividend last Friday came as a bit of a shock to the market. After rallying earlier in the week, the price dropped almost to 1.0 Nxt because a disappointed big dumper slammed its price down. By the time I offloaded the stakes I had bought and held until Friday, in the hopes that the dividend would stay up or increase, the dumping was over and the orderbook healed. Thankfully, I managed to unload all of this week's positions at a profit except for one. But because of the market's reaction to that disappointing dividend, the profits on the spreads were much narrower than they have been the prior two weeks. 

Consequently, this week's spread-trading dividend is only 144.6758 Nxt. As I write this, Nxt is at 5030 satoshis. NFD's low ask is holding steady at 3. So, the total value of the pass-through dividend is 242'573.1 NFD, or 9.71 NFD per unit of NFDMMNxt. It's much lower than the first two weeks', but I can't say I didn't warn. An economist would call this drop the oldest story in the book: great returns invited more competition, which drove down the returns. As the orderbook looks now, the profits on future spread trades will stay narrow unless more big dumpers come along followed by another burst of optimism.

Here's tonight's pay roster:

The MMNXT dividend came in, but it unfortunately took a dive from the usual ~220 Nxt. As this Nxtblock links shows, the exact amount this week was 157.04240919 Nxt. This payout is disappointing in two ways. First of all, it means a lesser payout for all NFDMMNxt holders today. Secondly, it meant that I was caught on the wrong side of the market: as things stand now, the spread-trading profits for this week will also be cut considerably. You can see where we're at by looking through the public spread-trading ledger.

If you want to check the size of the dividend yourself, the Nxtblocks page for the NFDMMNxt_Dedicated_Account is here. The Tx ID of today's payment is 10614349264466242987 .

As I write this, Nxt last traded at 4900 satoshis and NFD's low ask is holding steady at 3. These two figures give an implied price of Nxt as 1633.33 NFD. So, the total value of this week's pass-through dividend is 256'502.6 NFD, or 10.27 NFD per unit of NFDMMNxt.

Here's the pay roster:

Hey, thanks!

This is an awesome asset.  Great stuff.  NFD is taking off!

NOTICE: My offering of NFDMMNxt is now sold out. If you want any, you'll have to place a bid and hope someone takes you up on it.

I had another pleasant surprise this week. After another dump that I had been ready to catch with a few lowball orders, the MMNXT market woke up with a lot of strong buying. Unfortunately, I got a little stubborn at the time it woke up and didn't go with the new upward flow: I didn't bend until the market topped out. This led to the first and only spread trade that booked a loss. But thankfully, I had a lot of unbooked profits that I realized later in the week: most of them came from my lowball orders being filled thanks to that big dumper. The profits on these were wide enough that I not only buried that single loss but - to my surprise - managed to do better than last week. Thanks also to more prudent placing of orders, which reduced the losses due to cancelled orders, I'm reporting and distributing a spread-trading profit for this week of 413.8272 Nxt.

Again, I have to caution that next week's profits will likely fall. The heating up of the MMNXT market has cooled down, and there's a huge, huge volume of sells between 1.19 and 1.2. Earlier today, there was a huge buy order of 100'000 MMNXT at ~1.10. That order has thankfully been pulled. I have got more lowball buys in place below 1.1, but there has been no dumping even though last Friday's MMNXT's dividend was slightly lower than the previous week's. Despite that slight drop, there's still a small bid as high as 1.13 right now and a substantial bid at 1.12. The low ask has substantial volume at a price of 1.172. So, the current spread is relatively narrow and the market is in a holding pattern. There have been no trades at all since a little before 9:40 AM Eastern time. In order for me to come close to this week's booking in the week to come, there has to be another mood swing like this week's. So far, nothing like that has happened.   

As with last week, the public ledger shows the trades I've made and itemizes the profits. It also shows the single turn in which I booked a loss: https://www.dropbox.com/s/mh7nmqsnrn1ppd2/NFDMMNXT%20Spread%20Trading%20Ledger.xlsx?dl=0

As I mentioned in the last post, though, NFD's low ask is now 3. That's the price at which I'll be buying the NFD once I sell the profits Nxt at Bter. As I write this, Nxt's last trade was 5210 satoshis. Dividing that by 3 gives an implied price of 1736.67 NFD for each Nxt. So, the total dividend fund for this Sunday night is 1736.67 * 413.8272 = 718'681.3 NFD, or 28.75 NFD per unit of NFDMMNxt. As with last week's this week's spread-trading dividend is more than the pass-through dividend from MMNXT itself.

Here's the payout roster:

Much to my surprise, NFD's low ask is now at 3 satoshis. Since Nxt itself has fallen since I posted my original offer, I've lowered the price of NFDMMNxt from 3300 NFD to 2030 NFD.

Unfortunately, this move will lower the dividend payout in NFD terms if NFD's low ask stays at 3. If its low ask goes back to 2, I'll up the order according to that new ratio and Nxt's own value but the dividends will go up to the usual amounts in NFD terms.

The second pass-through dividend from MMNXT came into the NFDMMNxt_Dedicated_Account today. Despite the hoopla in the MMNXT world, it was slightly lower than last week's: 222.72448848 NXT. Tx ID: 7002282946544092969 Block explorer link: https://nxtblocks.info/#section/txid/7002282946544092969

Nxt's price also dropped from last week, to 5360 satoshis. Since NFD's low ask is still 2, the NFD equivalent to MMNXT's dividend is 596901.6291264 NFD, or 23.88 NFD per unit of NFDMMNxt.

Here's the pay roster for today's payout:


Next dividend, in which I pass through the week's spread-trading profits, comes Sunday night. You can see the updated spread-trading ledger on the Web here. Again, this figure is down for last week's as the MMMNXT market confounded me earlier this week. But I managed to scoop up a lot of MMNXT on a dump, and am in line to book some nice gains if it holds up at current levels.

Thanks to all who bought some NFDMMNxt!

It's Sunday night, and I was actually lucky I started this Asset last week. When I began doing my thing, there was lots of activity and the spreads were fairly wide. It wasn't that hard to sit, wait for a big gotta-have-it-now buyer or dumper, and collect the spread. As a result of what will undoubtedly be an unusually good first week, I booked 318.935 NXT as the first dividend. Orders I placed, and later pulled, did cut into the thick margins this week.

You can check my record by looking through the public ledger: https://www.dropbox.com/s/mh7nmqsnrn1ppd2/NFDMMNXT%20Spread%20Trading%20Ledger.xlsx?dl=0

But as I write this, the MMNXT market in the Nxt AE has slowed down considerably. Add to that, more than one bigger spread trader has decided to join the party. The buys are no longer big: almost all of them are small or micro-buys. The spread is much narrower. Right now, the high bid is 1.06 and the low ask is 1.09. As both indicate, the price of MMNXT has fallen a fair bit too.

Unless the excitement for it comes back, or unless those other traders give up and move along to where the action is better, next week's spread-trading dividend is going to be much smaller than this week's. The fat week has gone over to the lean week.

But there is a silver lining. Because I positioned myself to take advantage of dumps when I had Nxt to spare, the  NFDMMNxt_Dedicated_Account now holds 29'665 MMNXT. So even if I get stuck this next week, the pass-through dividend will be larger than it would have been had I held only 25'000.

All I can say is, I hope MMNXT becomes exciting again....


The Pay Roster:

The first pass-through dividend from MMNXT came in today, and I just sent out the NFD equivalents to the holders of NFDMMNxt. The amount that the NFDMMNxt_Dedicated_Account received this morning was 230.93089501 NXT; Tx ID 18362448331694644878. Using a Nxt price of 6000 satoshis and NFD's low ask of 2, the NFD equivalent to MMNXT's dividend is 692792.68503 NFD, or 27.7118 NFD per unit of NFDMMNxt.

So, here's today's pay roster:


Next dividend, in which I pass through the week's spread-trading profits, comes Sunday night. You can see the updated spread-trading ledger on the Web here.

Thanks to all who bought some NFDMMNxt!

Like the other Assets I've issued, this one is a straightforward alias Asset. NFDMMNxt will be backed 100% by a dedicated Nxt account holding enough MMNXT for the NFDMMNxt holder to redeem it for MMNXT on demand.

But there's a twist to this one! MMNXT is a Nxt Asset that runs a series of tradebots on the Nxt Asset Exchange and arbitrage bots on Bter, Poloniex and Cryptsy. Ever since its bots started trading, it's paid a dividend once per week without fail. You can read up on it in its official thread on the Nxt Forum. As an alias Asset, NFDMMNxt will pass through all MMNxt dividends from its holdings to NFDMMNxt holders. Dividends from this stream will be paid on the day MMNXT sends the dividend to the holding account. They will be paid in NFD at a rate determined by the ratio of Nxt's price to NFD's low ask at the time I send out the pass-through.

However...that's only one of the revenue sources for NFDMMNxt dividends. In addition to the once-a-week pass-throughs, I'm going to be paying a second dividend per week from another revenue source: spread-trading MMNXT itself on the Nxt AE.

To facilitate this, I sent 5000 of my own Nxt to the NFDMMNxt_Dedicated_Account that I'm using for the spread trading. This Nxt is my own: in essence, I'm "leasing" it to the NFDMMNxt Asset. Any profits I make on the spread trading, net of all fees, will be summed up each Sunday night and sent out to all NFDMMNxt holders as a second weekly dividend. Like the pass-through dividend, these will be paid out in NFD at the prevailing ratio between Nxt's price and NFD's low ask.

So if the spread trading works out, NFDMMNxt holders will get two dividends a week!

To keep track of the profits and any losses, I've set up a spread-trading ledger that you can view on the Web. Each transaction is numbered and linked to NxtBlock's block explorer. You can audit my ledger at any time by going through the Transactions of the NFDMMNxt_Dedicated_Account and the trades of MMNXT as shown on MMNXT's Asset Explorer page at NxtBlocks. Just look for the trades that Nxt Account NXT-QQKJ-SWLJ-CPX4-3QXXW has been involved in, and you can audit every entry in my public ledger. The rightmost column is the Running Total of accumulated Profits or Losses, which I'll zero out on Sunday night when I send out the spread-trading dividend.

If I get unlucky and the week's take is a net Loss, I'll pass that week's second dividend and use further Profits to while down the accumulated Loss until it zeroes out. The pass-through dividend from MMNXT will be paid every week in full regardless of how my spread-trading works out.

So: as a holder of NFDMMNxt, you're guaranteed to get the NFD value of MMNXT's own dividends no matter what. The Sunday spread-trading dividend is an add-on. If I prove to be a hapless spread-trader, I'll just burn through my 5000 Nxt. I will never buy or sell the 25'000 MMNxt that backs this Asset. I'll only Transfer them out to fulfill a redemption request.

Each time I send out a dividend, I'll post a report on this thread. The spread-trading dividend, if any, will be accompanied by a brief commentary about the MMNXT market in the Nxt Asset Exchange over the week.

Unlike my other Assets, I'm offering the entire issue of this one at a static price: 3300 NFD per unit of NFDMMNxt. This price, I came up with by using a ratio of 3000 NFD per Nxt and 1.1 Nxt per unit of MMNXT. Both ratios are in line with current market prices with a bit of give for fluctuations. However, I reserve the right to change this price if these ratios change significantly.

Here's the summary sheet for NFDMMNxt:

---

NFDMMNxt ASSET DETAILS:

NAME: NFDMMNxt
ASSET ID NUMBER: 7008598312490387994
ISSUING ACCOUNT: NFD-T4MX-HYMV-2J6M-AR9KM. Balance inspectable at the NFD Block Explorer.
NUMBER OF UNITS: 25'000
BACKING: Dedicated Nxt account NXT-QQKJ-SWLJ-CPX4-3QXXW. Holdings of MMNNXT identified at bottom of block explorer page.
BENEFIT: Each unit of NFDMMNxt is redeemable on demand for one unit of MMNXT from the backing account, sent to the redeemer's choice of Nxt account. In addition, each holder of NFDMMNxt will receive dividends paid in NFD from two sources: MMNXT's own weekly dividends, passed through, and any profits made by spread-trading MMNXT on the Nxt Asset Exchange. The pass-through dividend will be paid within a day of its receipt into the backing account. The spread-trading dividend, if any, will be paid out each Sunday night Eastern time.
PRICE: 3300 NFD 2030 NFD per unit. See here for why I reduced the price.

If you want me to prove I have control of the Asset Issuer account NFD-T4MX-HYMV-2J6M-AR9KM: just send me your own NFD Account ID and I'll send you an Arbitrary Message that'll prove it's my account. If you don't have an NFD Account, just download a new wallet here.

---

Feel free to ask any questions you have, and thanks for reading.


FYI: Because MMNXT and NFDMMNxt both pay dividends based upon spread trading, they're technically securities. That's not a worry right now, as both are too small for the SEC to be bothered with, but please keep in mind that there's a "regulatory risk" associated with this Asset.