Asset ID: 979292558519844732
Quantity: 50'000'000 Asset Decimals: 0
This is an automated trading fund for NXT asset exchange. Its goal is to provide market making for most liquid AE assets. Also we strive to move most of NXT trading to NXT AE Multigateway assets, thus providing additional liquidity for NXT which should assist in keeping its price more stable. Trading will be carried out at NXT Asset Exchange and other exchanges supporting NXT.
Trading is both long and short, that is you buy lower to sell higher and you sell higher to buy back lower. The profit is converted to NXT, also when trading MGW assets profit can also be realized in corresponding crypto, and converted to NXT afterwards.
There's 50 mil MMNXT shares. IPO will be carried out based on current projected monthly 10% profit, that means that initially around 2 mil shares at 1 NXT each will be sold. The fund will payout 60% of the profit, dividend payments will be made weekly on Fridays. The fund statistics will be published daily in this thread and at a special website mmnxt.com (not live yet).
Roadmap for the fund development:
October - November 2014:
NXT AE market making for the most liquid assets. MGW cryptocurrency assets Market Making (we also participate in MGW servers maintenance )
November 2014:
Arbitrage trading for BTER, Poloniex, Cryptsy.
We plan to trade on InstantDEX as soon as it's live.
We also run Bitcoin trading bots privately, they can be included in the fund portfolio in future based on its performance.
We believe that fund will be both profitable for shareholders and beneficial for NXT as a community, since it's based on the NXT most valuable asset - NXT Asset Exchange.