I understand. Im currently working on a similar project except were trying to decentralize the mutual fund by adding another token to control the fund.
Mutual fund token is a great way to have a stabalized token it being backed by the underlying assets the token would trade on the exchanges within 10% of the actual value but would never drop more than that
Topic: RFC / METAcoin / A Mutual Fund of Cryptocurrencies ? (Read 738 times)
I put this out there as "prior art" in case someone wants to try and patent it ;-)
It would work just like an existing mutual fund -- it goes up or down based on the value of the underlying assets.
PLUS it might have value beyond the current 'mark to market' price as a hedge in that it could be more valuable in some traders minds long term as a hedge.
-dvd
It would work just like an existing mutual fund -- it goes up or down based on the value of the underlying assets.
PLUS it might have value beyond the current 'mark to market' price as a hedge in that it could be more valuable in some traders minds long term as a hedge.
-dvd
I just saw how old this post is haha
I just saw how old this post is haha
I some what follow what you are saying but i dont get how the price continues to go up while the initial seed stays the same
[Request For Comment]
I've been kicking around the idea of spinning up a METAcoin based on the basket of currencies I currently hold as a way of creating a blockchain with an instant valuation, backstopped by my holdings setting a floor exchange value.
Pinged Max Keiser over at STARTjoin and he seems interested in the idea.
I've done a bit of simulation but nothing rigorous yet to see how it would function.
Basically it would start life as a pre-mine with the transactions holding the coin addresses of the seed capital that could be instantly verified at any moment to determine the total bases worth. Coins would be distributed by acquisition from the original wallet/vault and fully disclosed much like an exchange.
Here's the kicker. The value would essentially increase based on the distribution as all coins used to acquire would be held in the vault so the per coin price would rise as they were exchanged until fully distributed.
So for arguments sake lets say I kick if off with 100 BTC and 5000 LTC backing the initial seed value and have say have a total 10M coins. That puts a par value of about .00995/USD per METAcoin. The first distribution goes for say 10 BTC in exchange for 623K of METAcoin raising the value to now .01057/USD per METAcoin. The next distribution for 10 BTC gets 586K METAcoin but also now raises the value to around .0112/USD per METAcoin.
And yes, I did just register "metacoin.net" and "metacoin.club" :-)
It would likely be a pure Proof of Stake based system but with a slower block time to encourage its use as a longer term stakeholder based mechanism (like a stock or bond) vs a currency.
Your initial reaction/thoughts?
I've been kicking around the idea of spinning up a METAcoin based on the basket of currencies I currently hold as a way of creating a blockchain with an instant valuation, backstopped by my holdings setting a floor exchange value.
Pinged Max Keiser over at STARTjoin and he seems interested in the idea.
I've done a bit of simulation but nothing rigorous yet to see how it would function.
Basically it would start life as a pre-mine with the transactions holding the coin addresses of the seed capital that could be instantly verified at any moment to determine the total bases worth. Coins would be distributed by acquisition from the original wallet/vault and fully disclosed much like an exchange.
Here's the kicker. The value would essentially increase based on the distribution as all coins used to acquire would be held in the vault so the per coin price would rise as they were exchanged until fully distributed.
So for arguments sake lets say I kick if off with 100 BTC and 5000 LTC backing the initial seed value and have say have a total 10M coins. That puts a par value of about .00995/USD per METAcoin. The first distribution goes for say 10 BTC in exchange for 623K of METAcoin raising the value to now .01057/USD per METAcoin. The next distribution for 10 BTC gets 586K METAcoin but also now raises the value to around .0112/USD per METAcoin.
And yes, I did just register "metacoin.net" and "metacoin.club" :-)
It would likely be a pure Proof of Stake based system but with a slower block time to encourage its use as a longer term stakeholder based mechanism (like a stock or bond) vs a currency.
Your initial reaction/thoughts?
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