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NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
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Author Topic: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets  (Read 82122 times)

Cassius

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NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« on: February 01, 2016, 02:56:33 pm »

EIX to merge with MMNXT under unified NEXT asset; NEXTBOND 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 (NEXTBOND) will launch to generate further revenues for NEXT and directly for BOND holders through arbitrage on BTC/USD exchanges.

NEXTBOND - asset id 7105354913147670050
Arbitrage across bitcoin exchanges currently yields returns of up to 4% monthly. 1 NEXTBOND 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. NEXTBOND 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. NEXTBOND will pay daily. Due to the transaction fees involved in sending daily dividends, no dividends will be sent to accounts holding less than 0.1 NEXTBOND.

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. There is no closing date but dividends will not be distributed to the old assets.

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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #1 on: February 01, 2016, 02:56:46 pm »

http://bitscan.com/articles/nextbond-bitcoin-arbitrage-asset

Quote
NEXTBOND: Bitcoin arbitrage asset

Price difference on bitcoin exchanges represents an opportunity for easy, safe profits.

Bitcoin is by far the most liquid cryptocurrency, but there are still inefficiencies across its many exchanges. It’s not unusual for prices to be several dollars apart, one way or another. Those differences can be exploited by arbitrage: buying at the lower price and simultaneously selling at the higher one.

Whilst this can be done manually, it’s far easier with custom software that continually checks the most active exchanges and automatically executes the trade when it sees a discrepancy. It also requires having a significant amount of funds on both the exchanges in question, since even with bitcoin withdrawing money from one exchange to another takes too long; opportunities may last only seconds. The more funds you have in place, the most profit can be made before you have to readjust your balances to make sure the BTC and USD are in the right place.

Read full article: http://bitscan.com/articles/nextbond-bitcoin-arbitrage-asset
« Last Edit: February 01, 2016, 02:59:14 pm by Cassius »
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #2 on: February 01, 2016, 02:56:58 pm »

First dividend has been paid!

NEXT (5504266111917554921)
Total issued assets: 1000000
Assets to be distributed to: 780640.52
Dividend per asset: 0.10599885335186034
Summary of proposed distribution of 82747 NXT to 170 assetholders
Based on ownership at timestamp: 69049210 (1/02/2016 19:20:09)
Prunable message included: Dividend from asset: NEXT(5504266111917554921)

We've kept back a proportion of revenues for those who have not yet swapped their assets (total for this fortnight is 106k NXT). Lots of smaller MMNXT holders have not swapped yet.

Note: there's a second div of 26776.2325467 NXT that also went out at the same time - we accidentally sent to the account that holds escrowed NEXT assets.
« Last Edit: February 01, 2016, 04:33:22 pm by Cassius »
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KarlKarlsson

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #3 on: February 02, 2016, 05:32:12 pm »

First dividend has been paid!

NEXT (5504266111917554921)
Total issued assets: 1000000
Assets to be distributed to: 780640.52
Dividend per asset: 0.10599885335186034
Summary of proposed distribution of 82747 NXT to 170 assetholders
Based on ownership at timestamp: 69049210 (1/02/2016 19:20:09)
Prunable message included: Dividend from asset: NEXT(5504266111917554921)

We've kept back a proportion of revenues for those who have not yet swapped their assets (total for this fortnight is 106k NXT). Lots of smaller MMNXT holders have not swapped yet.

Note: there's a second div of 26776.2325467 NXT that also went out at the same time - we accidentally sent to the account that holds escrowed NEXT assets.
So, the total div is 109523, right?  :)
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #4 on: February 02, 2016, 07:47:46 pm »

First dividend has been paid!

NEXT (5504266111917554921)
Total issued assets: 1000000
Assets to be distributed to: 780640.52
Dividend per asset: 0.10599885335186034
Summary of proposed distribution of 82747 NXT to 170 assetholders
Based on ownership at timestamp: 69049210 (1/02/2016 19:20:09)
Prunable message included: Dividend from asset: NEXT(5504266111917554921)

We've kept back a proportion of revenues for those who have not yet swapped their assets (total for this fortnight is 106k NXT). Lots of smaller MMNXT holders have not swapped yet.

Note: there's a second div of 26776.2325467 NXT that also went out at the same time - we accidentally sent to the account that holds escrowed NEXT assets.
So, the total div is 109523, right?  :)

No! The total was around 106k, but a proportion of that was held back to reflect the proportion of assetholders who haven't exchanged yet. So 82,747 is the correct amount. The second div was funds accidentally sent to escrowed assets that were then redistributed.
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KarlKarlsson

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #5 on: February 03, 2016, 11:33:06 am »

First dividend has been paid!

NEXT (5504266111917554921)
Total issued assets: 1000000
Assets to be distributed to: 780640.52
Dividend per asset: 0.10599885335186034
Summary of proposed distribution of 82747 NXT to 170 assetholders
Based on ownership at timestamp: 69049210 (1/02/2016 19:20:09)
Prunable message included: Dividend from asset: NEXT(5504266111917554921)

We've kept back a proportion of revenues for those who have not yet swapped their assets (total for this fortnight is 106k NXT). Lots of smaller MMNXT holders have not swapped yet.

Note: there's a second div of 26776.2325467 NXT that also went out at the same time - we accidentally sent to the account that holds escrowed NEXT assets.
So, the total div is 109523, right?  :)

No! The total was around 106k, but a proportion of that was held back to reflect the proportion of assetholders who haven't exchanged yet. So 82,747 is the correct amount. The second div was funds accidentally sent to escrowed assets that were then redistributed.
Thanks for clarification, corrected in both the spreadsheet and in our database!
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crumb-bum

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #6 on: February 03, 2016, 10:06:52 pm »

HI! Please reserve dividend for me. My nxt account is NXT-W6G8-F4ES-MSTS-5269V.

I haven't been able to do the asset swap yet but will do so in the next couple of days.
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coinomat

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #7 on: February 04, 2016, 09:23:59 am »

HI! Please reserve dividend for me. My nxt account is NXT-W6G8-F4ES-MSTS-5269V.

I haven't been able to do the asset swap yet but will do so in the next couple of days.
Don't worry, the full amount is reserved for all the assets which have not been swapped yet.
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crumb-bum

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #8 on: February 04, 2016, 02:43:27 pm »

Thanks, Coinomat. Good to know!
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #9 on: February 08, 2016, 03:42:00 pm »

A quick update on forthcoming dividends:

Whale has sold our SIA after the recent rise for a 2 BTC profit. There will also be 13k NXT in assets from the latest NxtInspect dividend.
Coinomat's bots are continuing to work their magic, grinding away. NEXT has around 80 BTC directly under management, which yields in the region of 4% per month or 1.6 BTC per fortnight. NEXTBOND has so far collected 41 BTC, which yields holders 2% per month and around 2% to NEXT.

At a rough count, then (i.e. subject to further revision), we should be looking at a dividend of 4 BTC on 15th. If NXT is still around 2200 sats that will be 182k NXT in total, around twice as high as last time. Assuming distribution to all 850k active assets, that's ~0.21 NXT per asset, which at the latest price of 30 NXT is a yield of 0.7% per fortnight or 18.5% per year. So not too bad for the stage we're at right now.
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #10 on: February 11, 2016, 09:22:52 am »

Hi guys, we now have an automated superBTC > NEXTBOND swap script.

Send superBTC to NXT-ESXQ-5QFC-ARPP-HG2C7 to receive NEXTBOND automatically. (Reverse is still manual)

Meanwhile, daily divs are now sent from NXT-SQ3N-USPR-DRZT-6SN7E, around midday.

Note: you can send any amount of superBTC to this address and receive the same amount of NEXTBOND. However, divs will only be paid to holders with more than 0.1 NEXTBOND. This enables reinvestment of dividends, amongst other things.
« Last Edit: February 11, 2016, 09:37:20 am by Cassius »
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danisapfirov

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #11 on: February 11, 2016, 02:32:09 pm »

If <0.1 BTC no div = auto reinvestment to account
Is that right?

Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #12 on: February 11, 2016, 02:45:19 pm »

If <0.1 BTC no div = auto reinvestment to account
Is that right?

Not quite.
If you own < 0.1 BTC of NEXTBOND then it's not worth the tx fee to send out the daily div. You can buy any amount, but if accounts with less than 0.1 BTC won't get a payout. It is important that people can buy small amounts, because they can then reinvest revenues themselves periodically. Swapping superBTC for NEXTBOND is now automated.
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ebby

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #13 on: February 12, 2016, 12:18:16 am »

Is there a "buy back offer" for bigger holders of NEXT-Asset?
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #14 on: February 12, 2016, 06:29:03 am »

Is there a "buy back offer" for bigger holders of NEXT-Asset?

Not currently. How much are you looking to sell?
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danisapfirov

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #15 on: February 12, 2016, 07:48:32 am »

If <0.1 BTC no div = auto reinvestment to account
Is that right?

Not quite.
If you own < 0.1 BTC of NEXTBOND then it's not worth the tx fee to send out the daily div. You can buy any amount, but if accounts with less than 0.1 BTC won't get a payout. It is important that people can buy small amounts, because they can then reinvest revenues themselves periodically. Swapping superBTC for NEXTBOND is now automated.

If someone sends superBTC to the account but the total sum is less than 0.1 BTC there are no div payed.
My question is if there are some satoshies added to these accounts weekly?
« Last Edit: February 12, 2016, 07:50:43 am by danisapfirov »
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #16 on: February 12, 2016, 07:59:14 am »

If <0.1 BTC no div = auto reinvestment to account
Is that right?

Not quite.
If you own < 0.1 BTC of NEXTBOND then it's not worth the tx fee to send out the daily div. You can buy any amount, but if accounts with less than 0.1 BTC won't get a payout. It is important that people can buy small amounts, because they can then reinvest revenues themselves periodically. Swapping superBTC for NEXTBOND is now automated.

If someone sends superBTC to the account but the total sum is less than 0.1 BTC there are no div payed.
My question is if there are some satoshies added to these accounts weekly?

I see. No, we wanted people to buy in with at least 0.1 btc for various reasons.
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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #17 on: February 12, 2016, 06:52:12 pm »

Is there a "buy back offer" for bigger holders of NEXT-Asset?

Not currently. How much are you looking to sell?
29000
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Cassius

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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #18 on: February 15, 2016, 11:47:45 am »

Dividend day, and it's a good one as expected. Total was around 200k NXT, but we've kept back a little for those who have not yet swapped their MMNXT and EIX assets.

NEXT (5504266111917554921)
Total issued assets: 1000000
Assets to be distributed to: 823349.2300000003
Dividend per asset: 0.2210483636451569
Summary of proposed distribution of 182000 NXT to 240 assetholders
Based on ownership at timestamp: 70241982 (15/02/2016 14:39:41)
Prunable message included: Dividend from asset: NEXT(5504266111917554921)

Thanks for holding!
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Re: NEXT and NEXTBOND: unified trading fund and BTC arbitrage assets
« Reply #19 on: February 19, 2016, 01:35:54 pm »

where is NEXT gonna end up when that new coinomat chain becomes a reality?

https://nxtforum.org/general-discussion/%28pre-ann%29-time-to-go-further-new-chain-is-coming/
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