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E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio singapore
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Author Topic: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio  (Read 40895 times)

Cassius

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It's been a tough fortnight, for reasons explained above and elsewhere. We're very keen to replenish our reserves, so we've continued to reinvest 29% rather than pay this out.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  46750NXT to 107 assetholders
Based on ownership at timestamp 63673624 (Tue, 01 Dec 2015 11:07:04 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.
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prometheus

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]
Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.

this is an interesting idea
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Cassius

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]
Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.

this is an interesting idea

It is, and it could be a good way to move forwards under the current circumstances.
We will know more in due course, once the bots have been tested further. If all goes well, we'll look for a handful of major investors in January. (Smaller numbers of large investors are preferred simply to make admin easier.)
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Cassius

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EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  62100NXT to 107 assetholders
Based on ownership at timestamp 64881270 (Tue, 15 Dec 2015 10:34:30 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

It's a low div again this time, but we've got some interesting developments that will be coming online in January.

Coinomat has re-coded the bots for BTC/USD arbitrage. With our current bots holding of 25 BTC, he has managed to make almost 1 BTC in the last fortnight (accounting for all of our div this time as alts are still crashing and our FX is out). This can scale many times over.

We would like to gauge interest for larger BTC holders to invest in the bots. The deal would be that they would keep half the proceeds (~4% per month), with the rest going to EIX. Because it is arbitrage, there is no liquidity issue and people can get their BTC back as fast as coinomat can process the withdrawal. It is low-risk in terms of trading, because the buy/sell goes through at the same time. The major risk is exchange hack; coinomat obviously uses 2FA but another large hack can never be ruled out.

If any large BTC holders want to get involved, please drop us a line or show up on #e9-fund Slack channel.
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Cassius

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There's a dividend due today, but we need to delay until tomorrow. We're expecting a couple of payments to come in, particularly one from NXTinspect, but it's been delayed for administrative reasons. We'd really like to include it this time around!
Will update you tomorrow but hopefully we can pay as normal then.
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Cassius

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As expected, it's a smaller div than usual. A couple of reasons:
1) Lower volumes in the BTC/USD markets over Christmas. Hopefully we'll see more activity in the new year.
2) We were expecting divs from CORE and NxtInspect to come in yesterday. CORE will presumably come in over the next day or two, but NXTi will be delayed. It's a substantial dividend, but it's in assets and they don't want to pay the fees associated with distributing them. It looks like they may end up selling and dividending out the NXT instead, which could take a while. So:

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  43500NXT to 112 assetholders
Based on ownership at timestamp 66437808 (Sat, 02 Jan 2016 10:56:48 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Two more positive bits of news.
We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Secondly, BTC/USD arbitrage is by far our most lucrative opportunity at the moment. Coinomat is targeting 4% per month with the BTC funds we have. We would like to raise more money without issuing further assets, so are looking at an initiative where people lend us BTC and we split the arbitrage revenues 50/50 with them - half goes to the lender, half to the fund. It is a low-risk activity (never no-risk, due to factors like exchange hack, etc). We hope to attract a few BTC whales and dolphins, ideally minimum 10 BTC but potentially 100 or more. Please contact coinomat on Slack if you are interested.

Edit: oops, turns out CORE did send out their divs yesterday after all - we didn't see it because it was an invisible one. We're just deciding whether to div it out now (~12,700) or hold it over for next time
« Last Edit: January 02, 2016, 11:30:17 am by Cassius »
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Seccour

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?
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Cassius

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?

We will discuss, and please swing by Slack for a more interactive discussion. But for the sake of clarity, I think it's something that really needs to happen. There's too much room for confusion and potential overlap of services.
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jeezy

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?

We will discuss, and please swing by Slack for a more interactive discussion. But for the sake of clarity, I think it's something that really needs to happen. There's too much room for confusion and potential overlap of services.

Makes sense. Please keep us up to date on the procedure.
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Cassius

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EIX to merge with MMNXT; BOND to launch

Trading funds E9 (EIX) and MMNXT are merging under a single fund, NEXT. This will allow better use of combined funds, more clarity and no conflict of interest between the activities of the two funds. At the same time, a new bitcoin bond (BOND) will launch to generate further revenues for NEXT and directly for BOND holders through arbitrage on BTC/USD exchanges.

BOND - asset id 7105354913147670050
Arbitrage across bitcoin exchanges currently yields returns of up to 4% monthly. 1 BOND will represent 1 bitcoin (SuperBTC) on the Asset Exchange, with a guaranteed monthly payout of 2% in superBTC. The remaining income will go to NEXT assetholders. BOND may be redeemed for SuperBTC at any time by sending back to the issuing account. They can also be traded on the AE’s secondary market. BOND will pay monthly, on the first of the month.

PROCEDURE:​ ​
​Deposit:​​ When you want to invest in BOND, simply send superBTC to ​NXT-ESXQ-5QFC-ARPP-HG2C7​ and you will receive the equivalence in BOND (1:1). ​​Withdrawal:​​ When you want to withdraw your superBTC, simply send your BOND to ​NXT-ESXQ-5QFC-ARPP-HG2C7​ and we will send the equivalence in BTC (1:1) to the senders address.

All reasonable security precautions are taken and arbitrage is low-risk, but investor funds cannot be guaranteed against theft or exchange hack.

MMNXT/EIX asset swap for NEXT
MMNXT and EIX will be combined into a single asset, NEXT, which will pay out twice a month (1st and 15th) in NXT.

A total of 10% of active NEXT assets will be reserved for management payments. 25% of the total NEXT issue will be reinvested to grow the fund (similar to EIX’s current 29% reinvest and MMNXT’s 25% buyback). It makes sense for NEXT to hold 25% of NEXT’s assets to automate this.

A total of 1 million NEXT will be issued, with 15% being held back for future asset sales if required (there is no immediate intention to sell more assets). Of the 850,000 active assets, a total of 35% will be retained for management and reinvestment (85,000 + 212,500 = 297,500).

This leaves 552,500 NEXT assets for swap with existing MMNXT and EIX assets. No MMNXT or EIX assets are currently retained for management payments, only founder shares. (EIX currently reserves 15% of income for management payments as well as 29% for reinvestment.)

EIX price: 14.5. Assets issued: 568,200. MMNXT price: 1.15. Assets issued: 8,648,144. Total combined market cap of MMNXT and EIX is therefore estimated at around 18 million NXT; there is some daily variation. Thus 552,000 NEXT assets will be swapped in proportion to MMNXT and EIX market cap, at 32.6 NXT per NEXT, with each being worth around 21 NXT when considering all 850,000 active NEXT assets.

2.3 EIX per NEXT = 247,043 NEXT assets swapped for EIX
29 MMNXT per NEXT = 298,212 NEXT assets swapped for MMNXT
Total: 545,255. The remaining 6,745 assets will be retained by NEXT for reinvestment, bringing the fund’s total of its own assets to 25.8%.

The asset swap will begin on 16th January, after EIX’s next dividend. BOND will launch shortly.

Further details will be posted in due course.
« Last Edit: January 13, 2016, 02:17:53 pm by Cassius »
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farl4bit

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Thanks for the info, a lot info for me, but I will keep an eye on this topic for the swap.  ::)
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jeezy

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The asset swap will begin on 16th January, after EIX’s next dividend.

Will this be an automated process or do we need to do something?
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Jukie

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No more 10 btc minimum for bond?
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taggartd

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Some questione about bond.

I have seen asset decimal is 8: so it s possible to buy  fraction of the assets like for example 0,1 bond. Correct?

It's already possibile to send superbtc to the address you wrote about?

Guaranted monthly payout 2%: if i understand correctly it means there is a fixed 2  % payout. the gain above 2% goes to next. If the gain is 1% the payout is always 2%. Correct?

When is scheduled the first payout?

 Cassius thanks in advance for the answers..
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Cassius

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Hi folks,
I'm away for a few days and won't be able to answer questions for a bit. Please check in with whale and coinomat if you need anything.
Briefly:
No minimum buy in now, as the asset makes admin easier
2% fixed payouts, yes. If we have a string of bad weeks we'll have to rethink but it should be sustainable now.
Asset swap - you'll need to send existing assets to the address coinomat will announce on 16th, after the next eix div tomorrow.
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yassin54

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From slack, By Whale:

Code: [Select]
EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  37889NXT to 115 assetholders
Based on ownership at timestamp 67555792 (Fri, 15 Jan 2016 09:29:52 GMT)
Message included-->Dividend from asset EIX(5056017329645101426)
As most of you know, this will be the last EIX dividend. Swap details will be announced shortly[code]

Seccour

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Some questione about bond.

I have seen asset decimal is 8: so it s possible to buy  fraction of the assets like for example 0,1 bond. Correct?

It's already possibile to send superbtc to the address you wrote about?

Guaranted monthly payout 2%: if i understand correctly it means there is a fixed 2  % payout. the gain above 2% goes to next. If the gain is 1% the payout is always 2%. Correct?

When is scheduled the first payout?

Yes you can buy fraction of the assets. ( I did it )

Yes it's already possible to send superBTC to the address. ( I did it too )

I don't know

And i don't know :p
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farl4bit

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.
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Cassius

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.

It should be sent back to the same sending address, but it's a manual transfer so may take a day or so. Let us know if you don't see it after that long.
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farl4bit

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.

It should be sent back to the same sending address, but it's a manual transfer so may take a day or so. Let us know if you don't see it after that long.

Got it! Thanks!
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