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Author Topic: [Ann] [Coinex] Coinex.ir Exchange fund raising  (Read 74426 times)

sepehr

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[Ann] [Coinex] Coinex.ir Exchange fund raising
« on: September 21, 2015, 06:04:47 am »

Recently established Iranian Exchange, Coinex.ir, looking for fund raising through NXT Asset Exchange.



Target:

Raising 1,000,000 CNY to supply liquidity for exchanging major digital currencies like BTC and Perfect Money in http://coinex.ir/ .

Description:

Coinex.ir is an established exchange in Iran and started it’s testing phases for about 2 months.
We have exchange accounts with major Chinese exchanges like BTCChina and Huobi.
As any banking transaction to/from Iran yet is prohibited by many countries, the need for currencies like bitcoin and perfect money that can be transferred freely cross borders are increasing.
So Coinex.ir team decided to establish and form exchanging Iranian Rial with Bitcoin and other digital currencies.
We assure you that we do our best to secure your investment and to maximize your benefit and minimize any possible lose.
Each transaction may have 1-3 percent benefit.
Our BTC reserve will be hold as in our dedicated Cold Stored Address:

https://blockchain.info/address/1CoinExcJvvLEibPQ9F7WtVBXcPixv3CMV

Also you can see our last months records for our trades in the above address. And the other address that can show our trade records is the address we have in our exchange:

https://blockchain.info/address/1L3LJML3yq194gZ2oe2ZUo5d3YXVwHZTLb

Benefits calculated at the end of each month according to CNY equivalent of our total portfolio and dividends will be paid in BTC through SuperBTC Asset or CoinexCNY2 Asset according to User choice.
For more clarification for investors every week a Total Portfolio report will be published.
Any funds invested can be redeemed after each Coinex Report in BTC or any agreed Currency. It will be calculated as equivalent share from total portfolio.
Each asset is an equivalent to 1 CNY at the end of each month.
Total Number of 1,00,000 Assets with 2 decimal places issued.
We have a licensee issued from local government to show that we have a trustworthy entity, you can click on this image in our website to be sure about that:



http://Coinex.ir

Asset Descrption:

Asset Name: CoinexCNY2

Asset ID: 15567956136394580893

Asset Issuer Account: NXT-XBVF-49V3-UYUS-2AZMQ

Total Assets issued: 1,000,000.00

Price per asset at the end of each month: 1 CNY or equivalent in BTC or NXT

Dividend payments: Monthly

Each CoinexCNY2 is pegged to 1 CNY at start of each month.
During month the value of CoinexCNY2 will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividends will be paid and CoinexCNY2 will be pegged to CNY again and this cycle will continue.
Each User have the option to receive their Dividends at the end of month in CoinexCNY2 or SuperBTC.
Any new investor should pay as the last CoinexCNY2 value published here in this topic and join.
Portfolio Reserve Combination is %100 in fiat mostly in CNY. By the way we will have the right to change this combination according to local business requirements in this case we will inform about this to the community in this topic.

We prefer the asset to be bought in BTC, to avoid NXT to BTC exchange rates, So you can simply transfer any amount of BTC to our BTC address and ask us to transfer the Asset to your NXT Address Manually. In this case you should be able to prove that you are the owner of claimed BTC address.

New Investors:
Please send an amount equal to "Each Asset now" Value in last Coinex Report in this topic for each asset to our BTC address and ask us to transfer the Asset to your NXT Address Manually.

Forum Threads:

NXT Forum Thread: https://nxtforum.org/assets-board/(ann)-(coinex)-coinex-ir-exchange-fund-raising/

BitcoinTalk Forum Thred: https://bitcointalk.org/index.php?topic=1204913.0

Terms and Conditions:

1. By investing you accept that there may be some loss of value in the transferring between BTC, NXT, PM, CNY and IRR.
2. You accept that whilst invested NXT, BTC, PM, CNY & IRR values may fluctuate.
3. Iranian and Chinese banks have not been known to close accounts involved in bitcoin trading. By the way You accept that at any time operations may be ceased because of this. Any money returned will still be returned to investors.
4. We will take 50% of profits to pay for our management time, staff costs and any other costs.
5. In the event of fraudulent or otherwise faulty payments, should our bank refuse to give the money, We will not be held liable.
6. Any update or reports about this asset will be posted here in this topic.

Please ensure you've read the terms! 

Our User Verification Policy:

A few notes about our user verification policy to reduce risk of payment through Payment gateways or fraudulent payments:

1. We always require at-least one form of government issued in-date ID from any user.
2. We verify a land line or a Mobile phone number for each user.
3. Some users will have to go through additional Verifying procedures.

About Asset Issuer

Some notes about me:

I’m Sepehr, an old NXTer, My total number of posts Show my history.
I had two assets in my history record,

One is Forgecoin:

https://nxtforum.org/assets-board/(ann-forgecoin)-mining-with-cheap-electricity!/

And the other one was CryptoZin:

https://nxtforum.org/assets-board/(ann)-(cryptozin)-cryptocurrency-for-anyone-with-a-smartphone!-)/

While the above two assets may have not very good records in returning benefits, it can be assure you that, I’m not here to grab your money and flee! And show that I’m serious and here to make benefit for myself and you both together.
Also this is my account in Local Bitcoins:

https://localbitcoins.com/accounts/profile/sepehr/

My Personal NXT account is: NXT-BUN9-PXG2-JTR2-6ET4Z
I personally hold my personal share from Coinex Assets there.

About Coinex:

Coinex website: http://Coinex.ir
Twitter: https://twitter.com/Coinexir
Email: info@coinex.ir
BTC Account: https://blockchain.info/address/1CoinExcJvvLEibPQ9F7WtVBXcPixv3CMV
Perfect Money Account: https://perfectmoney.is/public_view.html?id=3063233
Let me know if you have any questions,

Sepehr
« Last Edit: December 06, 2015, 03:32:52 pm by sepehr »
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qq2536007339

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #1 on: September 21, 2015, 06:20:19 am »

Interesting,did you have any competitor in Iranian?
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你送我阿朵,我是要的。ARDOR-DJ68-PG7W-4JEU-2LU5T

sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #2 on: September 21, 2015, 06:22:36 am »

Interesting,did you have any competitor in Iranian?
Yes we have, but most of them very small entities.
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #3 on: September 21, 2015, 06:55:05 am »

Interesting,did you have any competitor in Iranian?
I think that this can be my most beneficial Asset.
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coinomat

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #4 on: September 21, 2015, 11:22:06 am »

very cool!
You'd better place a sell order at AE, though
No problem to exchange NXT to BTC I think
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #5 on: September 21, 2015, 11:47:47 am »

very cool!
You'd better place a sell order at AE, though
No problem to exchange NXT to BTC I think
Thanks a lot my friend. We had lots of exchanges together and thanks for your attention to our new project.
There is a sell order there in Asset Exchange.
I am sure with your support there will be no problem with NXT to BTC exchange.

Sent from my SM-P601 using Tapatalk

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marechou

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #6 on: September 21, 2015, 02:55:27 pm »

Hi Sepher,

This asset is pretty interesting, but i have several question to ask you:

AA/ What is the purpose of your exchange exactly? Is it an exchange or a place to buy/ sell bitcoin and you sell above market price? I mean it is not a bitsamp like exchange?

BB/ Currently you have some money already invested in (bitcoin + FIAT), how will you manage to split the dividends between the money you already have and the money / bitcoin provided by the investors?

CC/ Who are the customers? I can understand that Iranian people can send money with national bank transfert and buy bitcoin or sell their bitcoin but whqt about the chinese exchange as international transfert is prohibited?

DD/ What is the turnover of 1 btc sold? I mean when you sell 1 btc then you have to buy back this bitcoin at a cheaper rate in order to get profit, so how long doeas it take and where do you buy this bitcoin?

Customer (send IRR by bank transfert) ==> Customer buy 1 btc ==> you buy 1.02 btc with IRR

EE/ How does it work with perfect money?
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #7 on: September 21, 2015, 03:32:35 pm »

Hi Sepher,

This asset is pretty interesting, but i have several question to ask you:

Very good question Marechou, Thanks for your attention,

I reply one by one:

Quote
AA/ What is the purpose of your exchange exactly? Is it an exchange or a place to buy/ sell bitcoin and you sell above market price? I mean it is not a bitsamp like exchange?
It's place to buy or sell bitcoin. It is not a bitstamp like exchange. We buy below world exchanges from customers and sell above world exchanges to customers and normally we have a 1 to 3 percent margin.


Quote
BB/ Currently you have some money already invested in (bitcoin + FIAT), how will you manage to split the dividends between the money you already have and the money / bitcoin provided by the investors?
I think about this a lot! My solution is that I will buy some of the assets as well. So there exist no other money other than the one invested through this asset in our cash flow. And we simply pay asstes dividends and every one will have his own share from them.

Quote
CC/ Who are the customers? I can understand that Iranian people can send money with national bank transfert and buy bitcoin or sell their bitcoin but whqt about the chinese exchange as international transfert is prohibited?
I hope that I understand this question, Our current customers are most likely people buying bitcoin or perfect money in Iran, So we need lots of Bitcoin and Perfect money daily. We transfer money not through banking system but through unofficial fiat exchanges to Chinese banks and from there to Chinese exchanges to buy bitcoin. And so we need more cash in hand to increase our cash flow.

Quote
DD/ What is the turnover of 1 btc sold? I mean when you sell 1 btc then you have to buy back this bitcoin at a cheaper rate in order to get profit, so how long doeas it take and where do you buy this bitcoin?

Currently in one day sometimes I buy and sell 1 btc three times, It's very hard job! By increasing my cashflow, I hope that 1 buy and sell per working day is a better idea. I have several customers that they need more btc daily and I cannot supply them now.

Quote
Customer (send IRR by bank transfert) ==> Customer buy 1 btc ==> you buy 1.02 btc with IRR

The turnover is like this:

Customer send IRR by Bank transfer  ==> I buy BTC with CNY that I already have on Chinese exchange ==> I send BTC to customer ==> I sell IRR to Fiat exchange and buy CNY ==> Fiat exchange send CNY in my Bank Account in China ==> I send CNY from Chinese Bank to Chinese Exchange

As I told before some days I do all these three times now!

Quote
EE/ How does it work with perfect money?

Same turnover almost with Perfect Money, I buy BTC and change it to Perfect Money, There is a good demand to PM in Iran and thats because it has no restriction to Iranians.

Each exchange should have at least 1% benefit and sometimes it have 2.5% benefit.
If we can do this for 25 days per month.
For each BTC we will have %25 income monthly. Excluding our charges it will be about %12.5 per month that I think something attractive nowadays.

I have a question that will send it in next post
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #8 on: September 21, 2015, 03:36:22 pm »

My main question that need consultation from comunity is that how I should hold the portfolio?

Currently I hold all my portfolio almost in CNY like this:

BTC: %0 , PM: %0 , CNY: %100 , IRR: 0%

But I think that the community may prefer something like this:

BTC: %50 , PM: %25 , CNY: %20 , IRR: 5%

I think that decision about this is a bit hard! So I prefer to consult about it and then voting will decide about it.
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marechou

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #9 on: September 21, 2015, 04:02:18 pm »

Thanks it is pretty clear for me now but still few more questions or advises :


Quote
BB/ Currently you have some money already invested in (bitcoin + FIAT), how will you manage to split the dividends between the money you already have and the money / bitcoin provided by the investors?
I think about this a lot! My solution is that I will buy some of the assets as well. So there exist no other money other than the one invested through this asset in our cash flow. And we simply pay asstes dividends and every one will have his own share from them.

==> I think that is the best solution.


Quote
CC/ Who are the customers? I can understand that Iranian people can send money with national bank transfert and buy bitcoin or sell their bitcoin but whqt about the chinese exchange as international transfert is prohibited?
I hope that I understand this question, Our current customers are most likely people buying bitcoin or perfect money in Iran, So we need lots of Bitcoin and Perfect money daily. We transfer money not through banking system but through unofficial fiat exchanges to Chinese banks and from there to Chinese exchanges to buy bitcoin. And so we need more cash in hand to increase our cash flow.

==> Now it is clear, I was not aware about such unofficial exchanges


About your portofolio, I think it is better to have at least half of the value in BTC so your second proposal seems good.

I guess you should calculate and publicly show the NAV in real time in order to adjust the price of the asset (until you have sold all the shares at least), then at each end of the month you can do (NAV end of month - NAV beg of month) to calculate the dividends per asset.
If there is a rise of the price of bitcoin then dividends will be poor or even equal to 0 and if bitcoin drops dividends will be high, but that will be pretty tranparent and simpl for everybody in my mind.

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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #10 on: September 21, 2015, 04:19:14 pm »

I guess you should calculate and publicly show the NAV in real time in order to adjust the price of the asset (until you have sold all the shares at least), then at each end of the month you can do (NAV end of month - NAV beg of month) to calculate the dividends per asset.
If there is a rise of the price of bitcoin then dividends will be poor or even equal to 0 and if bitcoin drops dividends will be high, but that will be pretty tranparent and simpl for everybody in my mind.

Yes, I think so, for more clarification, this asset have no reference or represent no share of our exchange.
This asset only supply liquidity to our exchange and in return receives monthly dividedns.

So a weekly report of our total portfolio can guide to net asset value.
I think it is possible that I supply a Total portfolio report every week.
And it should include total Asset sold as well.

I can add this in the first post if you also agree.
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marechou

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #11 on: September 21, 2015, 05:24:51 pm »

So you should say how much of your own shares you buy.

I think I will invest in your asset after that.

Regards
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #12 on: September 21, 2015, 06:26:05 pm »

So you should say how much of your own shares you buy.

I think I will invest in your asset after that.

Regards

I estimate to invest for 20 shares at start. This is what I already have in this project now.

But later I may reduce it to 5 because I should return some borrowed money and also may increase it if I receive more money to invest.

I don't know what you exactly need to be clarified but if you want to adjust some limitation for me on number of assets I own, I think it's better to clear it now.
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marechou

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #13 on: September 21, 2015, 06:53:38 pm »

What I meant is to calculate the number of bitcoin equivalent invested already (so your shares equity) in order to be able to calculate the dividends at the end of the month because if you don't know exactly the value of the funds already invested it will be complicated to calculate the dividends then...





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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #14 on: September 21, 2015, 07:12:06 pm »

What I meant is to calculate the number of bitcoin equivalent invested already (so your shares equity) in order to be able to calculate the dividends at the end of the month because if you don't know exactly the value of the funds already invested it will be complicated to calculate the dividends then...

No problem for this issue. I will distinguish between my personal NXT account and coinex NXT account. So I transfer what exact share I bought to my personal account and will declare it here in this thread for clarity.
Now is late night here so I will declare it tomorrow.

You are most welcome to ask any question Marechou.
« Last Edit: September 22, 2015, 02:16:44 am by sepehr »
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #15 on: September 22, 2015, 02:43:39 am »

ok, This is my personal NXT Account:

NXT-BUN9-PXG2-JTR2-6ET4Z

And I personally bought 17 assets because of my current liquidity in Coinex accounts(BTC,CNY,IRR) for the moment.

I can show them in one transaction on main Coinex BTC Account if community asked.

I added these lines in first post:

My Personal NXT account is: NXT-BUN9-PXG2-JTR2-6ET4Z
I personally hold my personal share from Coinex Assets there.

« Last Edit: September 22, 2015, 03:32:34 am by sepehr »
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #16 on: September 22, 2015, 03:21:50 am »

Coinex Report:

Total Assets Sold: 28

Current Portfolio Combination:

Bitcoin: 14.5 BTC
Chinese Yen: 16,900 CNY ≃ 11.57 BTC
Iranian Rial: 15,200,000 IRR ≃ 1.93 BTC

Total Portfolio ≃ 28 BTC

Each Asset ≃ 1 BTC ≃ 1460 CNY ≃ 228.8 USD
« Last Edit: September 27, 2015, 07:46:03 am by sepehr »
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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #17 on: September 22, 2015, 03:28:48 am »

Coinex Report:

Total Assets Sold: 28

Current Portfolio Combination:

Bitcoin: 14.5 BTC
Chinese Yen: 16,900 CNY ≃ 11.57 BTC
Iranian Rial: 15,200,000 IRR ≃ 1.93 BTC

Total Portfolio ≃ 28 BTC

I have added this sentence to first post:

For more clarification for investors every week a Total Portfolio report will be published.

The above quote is our first Portfolio report. And I promise to publish such report every week. First Dividends will be paid on First October.
« Last Edit: September 22, 2015, 03:31:52 am by sepehr »
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marechou

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #18 on: September 23, 2015, 04:01:52 pm »

Hi sepehr,

I have some ideas to increase the interest of your asset.

What I suggest is to limit to 50 btc in a 1st time in order to give better dividends and let the freemarket deciding about the price of the asset, like this people would be interested as they could get even make money with the price of the asset ==> you make scarcity.

I guess right now you don't need 200 btc for your exchange.

When you will need more funds you will  release more assets on the market at a higher price for exemple 1.1 btc Worth, that must be stated before, people who will buy at higher price on freemarket will do it at their own risk.

You can release 50 more assets if you have 2 month in a row with more than 6% of ROI which seems pretty realistic according your annoucement, otherwise you don't really need the funds.

Like this you will always have a profitable asset and everybody should be happy (early investor will get dividends because people have bought at higher price, so more dividends for the next month.

pro for early investor = more dividends on the next month
cons for early investors = shares diluted

If you can really perform 12% per month of returns on dividends, people will rush the asset soon (even with half of this performance actually).


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sepehr

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Re: [Ann] [Coinex] Coinex.ir Exchange fund raising
« Reply #19 on: September 23, 2015, 05:43:41 pm »

Hi sepehr,

I have some ideas to increase the interest of your asset.

What I suggest is to limit to 50 btc in a 1st time in order to give better dividends and let the freemarket deciding about the price of the asset, like this people would be interested as they could get even make money with the price of the asset ==> you make scarcity.

I guess right now you don't need 200 btc for your exchange.

When you will need more funds you will  release more assets on the market at a higher price for exemple 1.1 btc Worth, that must be stated before, people who will buy at higher price on freemarket will do it at their own risk.

You can release 50 more assets if you have 2 month in a row with more than 6% of ROI which seems pretty realistic according your annoucement, otherwise you don't really need the funds.

Like this you will always have a profitable asset and everybody should be happy (early investor will get dividends because people have bought at higher price, so more dividends for the next month.

pro for early investor = more dividends on the next month
cons for early investors = shares diluted

If you can really perform 12% per month of returns on dividends, people will rush the asset soon (even with half of this performance actually).

Thanks a lot Marechou,

I think this is a good proposal. Please give me some time to think on it and then we(the asset holders) can decide what to do.
Now is late night here and we have two holidays in our region from tomorrow. By the way I hope that tomorrow I can decide what to do about your proposal.

Once again thanks a lot for it.
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