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[ANN] Liquid / CVF Terms of Merger / Acquisition
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Author Topic: [ANN] Liquid / CVF Terms of Merger / Acquisition  (Read 3409 times)

chanc3r

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[ANN] Liquid / CVF Terms of Merger / Acquisition
« on: April 30, 2015, 11:56:06 am »

REDEEM CVF USING THIS LINK

https://nxtforum.org/index.php?topic=9017.msg177013#msg177013

This post covers the merger / acquisition of the CryptoVentureFund (CVF) asset by the Liquid (LQD) asset on the NXT Asset Exchange, to achieve this both parties are making comittments to the merged business and these are set out below;

CVF Asset Transition:

1. LQD will repurchase the CVF assets currently in circulation, these number 610,100. The assets will be repurchased for a combinations of LQD assets and NXT in the proportion 0.0075LQD/CVF and 0.3NXT/CVF
2. LQD will ensure LQD escrow account is funded with 4576 LQD and 183030 NXT by 00:00 on 2nd May 2015 in order to fund the redemption process.
3. The redemption process will continue for a period of 8 weeks, at the end of this process any unredeemed LQD / NXT in the escrow account (NXT-335C-HMKJ-WG7U-ELE86)will be transferred to the 4good charity account (NXT-Y7JN-8RWA-SPZ2-7P4A5)
4. NXTi will process the redemptions over a period of 8 weeks startng on 2nd May 2015 on behalf of CVF and LQD Asset Issuers via the LQD Escrow account.
5. NXTi will ensure the destruction of any CVF assets in the LQD Escrow account or the CVF Escrow Account (NXT-ARHF-BN4A-Q82P-75GYE) by sending them to the NXT GENESIS account.
6. On the 2nd May CVF will transfer any assets/NXT from the CVF Issuer Account (NXT-75D2-ULVM-TXA2-CRG9J) to the Liquid Issuer Account (NXT-M2Y7-FKFH-CAQC-DEF7N)
7. On the 2nd May CVF will also provide Liquid with a final balance of any and all CVF accounts held on NXT AE or elsewhere.CVF will also provide the necessary login/authorisation for LQD to access the CVF trading acoount for inspection / verification purposes.

CVF Issuer Benefits:

1. In consideration for the transfer of the CVF business and provision of trading services, LQD has awarded 5000 LQD assets to CVF, these are locked and cannot be sold until LQD NAV is above 200 NXT. CVF has waived these LQD assets and donated them to the 4good asset, the lock is preserved but 4good will receive any LQD dividend benefits from the point of transfer.
2. To stimulate the performance of the Forex trading, CVF is awarded 1000 LQD assets per quarter based on the achievement of published performance targets. These assets are not locked and CVF will be free to keep the asset for dividend, sell them or transfer. This bonus is limited to the 4 quarters following redemption.

The Ongoing Commitment:

1. CVF will continue to operate Forex trading and will perform this solely and on behalf of LQD.
2. CVF will not start or implement a new CVF asset or another asset which directly compete with LQD or conflicts with his execution of trading activities on behalf of LQD.
3. LQD will fund the CVF Trading account to the minimum level of 2M NXT, LQD may increase the funding for Forex trading above this level, by agreement, but will not allow the Forex fund to fall below this minimum amount.
4. LQD will provide a minimum of 5% of Forex profits to the 4good account on an ongoing basis as long as CVF continues to provide Forex trading services on behalf of LQD.
5. CVF will provide LQD with log-in and full access to the accounts that CVF is using for Forex trading for inspection/auditing purposes.
6. CVF will support LQD with the requirement to integrate CVF trading activity into the liquid.info near real-time HUD
« Last Edit: May 01, 2015, 04:57:10 pm by chanc3r »
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JanSako

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #1 on: April 30, 2015, 12:13:22 pm »

Now the most important question:

What are my options and steps to take as CVF holder?

KISS pls, for the benefit of all!  ;D

THX!
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chanc3r

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #2 on: April 30, 2015, 12:35:10 pm »

Now the most important question:

What are my options and steps to take as CVF holder?

KISS pls, for the benefit of all!  ;D

THX!

When I start the redemption (expect saturday after CVf/LQD dividends) I will post the account to send CVF to...
CVF received will be converted to LQD and NXT and sent back to the sending account
I will publish a spreadsheet of the redemptions and outstanding CVF once a week.
I will run the redemption process as often as I can over Saturday and Sunday
From monday it will be once per day.

How's that?
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Cassius

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #3 on: April 30, 2015, 12:50:27 pm »

That's good, thanks.
Can I clarify: Mike won't be trading on behalf of 4good, only LIQUID. 4good will receive its revenues solely from that part of the deal with LIQUID. Is this correct?
Also, what implications will the growth of 4good have, since its revenues will be diluted by further assetholders?
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chanc3r

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #4 on: April 30, 2015, 01:40:49 pm »

That's good, thanks.
Can I clarify: Mike won't be trading on behalf of 4good, only LIQUID. 4good will receive its revenues solely from that part of the deal with LIQUID. Is this correct?
Also, what implications will the growth of 4good have, since its revenues will be diluted by further assetholders?

Mike who? anyway...

LIQUID has no obligations towards 4good and no involvement with 4good, the FOREX revenue commitment is simply a condition of the CVF acquisition.
If you have any questions about 4good asset please ask in that thread - this is about LIQUID and beyond my scope in terms of this merger.
« Last Edit: April 30, 2015, 01:52:42 pm by chanc3r »
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Cassius

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #5 on: April 30, 2015, 02:09:29 pm »

That's good, thanks.
Can I clarify: Mike won't be trading on behalf of 4good, only LIQUID. 4good will receive its revenues solely from that part of the deal with LIQUID. Is this correct?
Also, what implications will the growth of 4good have, since its revenues will be diluted by further assetholders?

Mike who? anyway...

LIQUID has no obligations towards 4good and no involvement with 4good, the FOREX revenue commitment is simply a condition of the CVF acquisition.
If you have any questions about 4good asset please ask in that thread - this is about LIQUID and beyond my scope in terms of this merger.

CVF's signature says 'call me Mike'. I just assumed...

It's relevant because 4good generates revenues from forex trading and:
Quote
1. CVF will continue to operate Forex trading and will perform this solely and on behalf of LQD.
2. CVF will not start or implement a new CVF asset or another asset which directly compete with LQD or conflicts with his execution of trading activities on behalf of LQD.

It's not entirely clear to me what the implications of that are. Maybe none. Maybe some.
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cryptoventurefund

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #6 on: April 30, 2015, 02:14:55 pm »

chanc3r knows me by my first name :D . Mike is my middle name :P

I trade solely for LIQUID, and 4 good is capped and has a small, stable growth, just enough to keep the asset alive and the investors happy, but not enough to compete with LIQUID in any way.

Does it make sense now?
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Cassius

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #7 on: April 30, 2015, 02:22:55 pm »

chanc3r knows me by my first name :D . Mike is my middle name :P

I trade solely for LIQUID, and 4 good is capped and has a small, stable growth, just enough to keep the asset alive and the investors happy, but not enough to compete with LIQUID in any way.

Does it make sense now?

It does.
4good being capped is a new development though. Glad I picked up a few first :)
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blackyblack1

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #8 on: April 30, 2015, 02:44:32 pm »

chanc3r knows me by my first name :D . Mike is my middle name :P
Do you have any other names?
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cryptoventurefund

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #9 on: April 30, 2015, 03:09:48 pm »

They used to call me SEXY when i was younger, but as time passed i got uglier each day :D
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starfishi

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #10 on: April 30, 2015, 05:02:32 pm »

This post covers the merger / acquisition of the CryptoVentureFund (CVF) asset by the Liquid (LQD) asset on the NXT Asset Exchange, to achieve this both parties are making comittments to the merged business and these are set out below;

CVF Asset Transition:

1. LQD will repurchase the CVF assets currently in circulation, these number 610,100. The assets will be repurchased for a combinations of LQD assets and NXT in the proportion 0.0075LQD/CVF and 0.3NXT/CVF

I´m really, really happy for this merger to happen, guys, but a question:

What exactly does this mean: "a combination of . ."  There`s a big difference between the NXT and LQD conversion . .



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martismartis

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #11 on: April 30, 2015, 05:15:35 pm »

This post covers the merger / acquisition of the CryptoVentureFund (CVF) asset by the Liquid (LQD) asset on the NXT Asset Exchange, to achieve this both parties are making comittments to the merged business and these are set out below;

CVF Asset Transition:

1. LQD will repurchase the CVF assets currently in circulation, these number 610,100. The assets will be repurchased for a combinations of LQD assets and NXT in the proportion 0.0075LQD/CVF and 0.3NXT/CVF



I´m really, really happy for this merger to happen, guys, but a question:

What exactly does this mean: "a combination of . ."  There`s a big difference between the NXT and LQD conversion . .

I understand, if You have 1000 CVF and redeem them, You'll get 7.5 LQD assets and 300 NXT to your account. Somebody correct me if I'm wrong :)
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starfishi

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #12 on: April 30, 2015, 05:26:35 pm »

This post covers the merger / acquisition of the CryptoVentureFund (CVF) asset by the Liquid (LQD) asset on the NXT Asset Exchange, to achieve this both parties are making comittments to the merged business and these are set out below;

CVF Asset Transition:

1. LQD will repurchase the CVF assets currently in circulation, these number 610,100. The assets will be repurchased for a combinations of LQD assets and NXT in the proportion 0.0075LQD/CVF and 0.3NXT/CVF



I´m really, really happy for this merger to happen, guys, but a question:

What exactly does this mean: "a combination of . ."  There`s a big difference between the NXT and LQD conversion . .

I understand, if You have 1000 CVF and redeem them, You'll get 7.5 LQD assets and 300 NXT to your account. Somebody correct me if I'm wrong :)

Oh, i understood "or",  not "and",  my bad. That´s probably, why it´s called "combination" . . , damn  :)

I´m happy anyway, i have only few CVFs, but i´m definitely going to get more Liquids . .


« Last Edit: April 30, 2015, 06:49:25 pm by starfishi »
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LibertyNow

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #13 on: April 30, 2015, 06:19:59 pm »

This post covers the merger / acquisition of the CryptoVentureFund (CVF) asset by the Liquid (LQD) asset on the NXT Asset Exchange, to achieve this both parties are making comittments to the merged business and these are set out below;

CVF Asset Transition:

1. LQD will repurchase the CVF assets currently in circulation, these number 610,100. The assets will be repurchased for a combinations of LQD assets and NXT in the proportion 0.0075LQD/CVF and 0.3NXT/CVF



I´m really, really happy for this merger to happen, guys, but a question:

What exactly does this mean: "a combination of . ."  There`s a big difference between the NXT and LQD conversion . .

I understand, if You have 1000 CVF and redeem them, You'll get 7.5 LQD assets and 300 NXT to your account. Somebody correct me if I'm wrong :)

That is correct.
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whale

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #14 on: May 01, 2015, 12:21:48 am »

A further sign of just how far the NXT AE ecosystem has grown in a relatively short time period.

Congratulations to all of the parties involved!
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Nippybrit

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #15 on: May 01, 2015, 06:56:55 am »

I'll say! Sounds like a great deal to me.  ;D
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Evan

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #16 on: May 01, 2015, 03:20:54 pm »

6. On the 2nd May CVF will transfer any assets/NXT from the CVF Issuer Account (NXT-75D2-ULVM-TXA2-CRG9J) to the Liquid Issuer Account (NXT-M2Y7-FKFH-CAQC-DEF7N)
Won't all CVF be destroyed?

2. To stimulate the performance of the Forex trading, CVF is awarded 1000 LQD assets per quarter based on the achievement of published performance targets. These assets are not locked and CVF will be free to keep the asset for dividend, sell them or transfer.
There is no time limitation for this. What if Liquid has no LQD assets left and no one is selling LQD though this is unlikely.  ::)
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chanc3r

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Re: [ANN] Liquid / CVF Terms of Merger / Acquisition
« Reply #17 on: May 01, 2015, 03:31:10 pm »

6. On the 2nd May CVF will transfer any assets/NXT from the CVF Issuer Account (NXT-75D2-ULVM-TXA2-CRG9J) to the Liquid Issuer Account (NXT-M2Y7-FKFH-CAQC-DEF7N)
Won't all CVF be destroyed?

2. To stimulate the performance of the Forex trading, CVF is awarded 1000 LQD assets per quarter based on the achievement of published performance targets. These assets are not locked and CVF will be free to keep the asset for dividend, sell them or transfer.
There is no time limitation for this. What if Liquid has no LQD assets left and no one is selling LQD though this is unlikely.  ::)

1. These are assets other than CVF - this transfer has been done.
2. This is limited to 4 quarters (therefore max 4k LQD)  - thanks I have amended the published terms to reflect what was agreed.
3. All CVF in escrow has been sent to genesis by me today.

There is now only 610k CVF left and I will be publishing the redemption address soon.
« Last Edit: May 01, 2015, 03:34:55 pm by chanc3r »
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