Category Archives: CombiCoin Updates
Update received from Triaconta a few days ago…
Last week has been an exciting week for us. The first “Revision and Rebalancing” of CombiCoin has been executed. In this CombiCoin weekly the following things will be addressed:
- CombiCoin performance week 49
- Revision of the “top 30”
- Rebalancing of CombiCoin Assets
- CombiCoin sales update
- TRIA token profit share distribution December
CombiCoin performance week 49
Value on 11-12-2017 – 08:00 CET – $ 20.82
Value on 18-12-2017 – 08:00 CET – $ 34.53
65.85% – (previous week 15.13%)
Year to date growth: 299.65%
Monthly growth: 180.73%
Week high: $ 34.53
Week low: $ 20.82
Total value asset pool: $ 11,592,735 (+77.89% compared to previous week)
Revision of the “top 30”
On Wednesday 13th of December 2017 the new “top 30” has been defined:
This means that we have said goodbye to the following cryptocurrencies.
- BitConnect (BCC)
- Golem (GNT)
- MaidSafeCoin (MAID)
- TenX (PAY)
- Basic Attention Token (BAT)
Regarding the departure of BCC from the top 30, one rule from the whitepaper has been updated. From now on each coin in the top 30 has to be traded on at least 3 exchanges with an API that we can work with. For BCC unfortunately this wasn’t the case.
We welcomed the following cryptocurrencies to the top 30:
- NXT (NXT)
- Ardor (ARDR)
- MonaCoin (MONA)
- Populous (PPT)
- Cardano (ADA)
Rebalancing of the top 30
During the rebalancing of the assets backing CombiCoin the following assets have been sold or bought.
This resulted in the following change of the assets owned by the foundation.
Old asset pool
New asset pool
The next revision and rebalancing procedure is planned on 14-02-2018
CombiCoin sales update
In the past week CombiCoin had 294 new registrations for the amount of $720,093.
TRIA Token profit share distribution
Originally the first profit share distribution was planned for February 2018 with a forecast between $ 0.05 to $ 0.11 per TRIA Token. We are happy to announce that the first profit share distribution will take place by the end of this week and the profit share will be $0.1478 per TRIA Token and will be paid out in Ethereum directly to the address holding the TRIA tokens. You cannot change the wallet address you receive this payment on.
Wallets that held at least 1 TRIA token during the snapshot of the TRIA Token blockchain of 15-12-2017 will receive profit share.
Diversify your Cryptocurrency Investments with a Single Transaction now: CombiCoin sales are open again!
Triaconta, the parent company of CombiCoin (COMBI), has re-opened sales – making it possible for people to buy the Top 30 crypto with a single transaction. This comes after a successful ICO and pressure to re-open COMBI sales. CombiCoin – a token that is 100% asset backed by the top 30 of all cryptocurrencies – has had a great start. After the ICO the initial value of CombiCoin was $ 8.64. At the time of writing the value of CombiCoin is $10.91 which is a 26.28% increase in 4 weeks.
Update received from Triaconta…
It has been three weeks since the last update. In the meantime we haven’t sit idly by and have been working on various things on which we’d like to update you.
Current CombiCoin value
As explained in our previous newsletter you can follow the price of CombiCoin on our website: www.triaconta.com. We also added a pie chart showing the distribution of the assets backing CombiCoin.
CombiCoin started with an initial value of $ 8.64 and we are happy to report that at the moment of writing the value of CombiCoin is $10.48 which is a 21.2% increase in 3 weeks.
TRIA token is listed on Etherdelta.com
From the 3th of November TRIA token has been listed on Etherdelta.com. You can trade TRIA tokens to Ethereum on this exchange. If you have not traded on EtherDelta before please go here for a tutorial how to trade on EtherDelta: https://triaconta.com/
At time of writing already a few hundred TRIA Tokens have been traded with an average of about $ 3 USD.
As mentioned in the whitepaper CombiCoin will be listed on an exchange in January. We are aiming to list CombiCoin on an exchange that supports EURO or USD.
Referral campaign & bounties
All bounties and referral rewards will be distributed this week (6-11 / 10-11). Referral rewards can be found here.
In the above mentioned list you can look up your wallet address to see if you receive a bounty or not.
The other bounties can be found here https://triaconta.com/bounties
Re-open CombiCoin sales
We’ve had a lot of requests from people that either missed the ICO or that want to buy more CombiCoins before it hits the exchange in January. We are going to open the sales of CombiCoin on our website within two weeks. Sales will be done in a way that will benefit all TRIA token holders!
When someone buys CombiCoins on our website a 5% service fee is charged. 50% of this service fee will be reserved for TRIA token holders. The other 50% is used to cover the costs for manually buying the assets backing CombiCoin.
We expect to distribute the first profit share that is created by our automatic exchange software in February, during this distribution we will add the profit of the websales of CombiCoin. We will keep the sales via our website open until CombiCoin is listed on an exchange in January.
The development of the automatic trading software is on track. At this moment the software is connected to 5 different exchanges (Bittrex, Bitfinex, HitBTC, Binance, Poloniex) and more will follow. The software combines all data from these exchanges in real time into one big order book with over 23,000 entries. The complete order book is updated more than 1,000 times per second. The next step is to create the software that calculates the current buy/sell price of a CombiCoin and places orders on an exchange. We expect to do a first testrun in December.
Forks, staking & voting
In these last three weeks a “Fork” of Bitcoin, called Bitcoin Gold, is initialized.
To explain a fork simple, it is a procedure when a blockchain is cut in two. One of the blockchains remains as it is, but the other blockchain will have some adjustments. This already happened before with Bitcoin resulting in Bitcoin Cash. At the moment a fork is initiated owners of the original coin will be awarded the same amount of the new coin, in this case Bitcoin Gold.
Next to Forks, there are other ways that the assets backing CombiCoin can grow in numbers (instead of value), like staking and voting. In each of these ways the Foundation holding the top 30 cryptocurrencies receives small amounts of crypto by voting or staking. These small amounts are put back into the assets pool of CombiCoin, increasing the value of CombiCoin (slightly!).
During a “revision & rebalancing” procedure the received coins that are not part of the top 30 (like for example Bitcoin Gold) will be sold completely. The next rebalancing procedure will take place on 13th of December 2017.
With 1,092 participants our ICO was a great success and we raised a total of $ 2,260,330. This means that from the start there will be 240,460 CombiCoins and 274,780 TRIA tokens. Everyone should have received their CombiCoins, if you have not yet received your CombiCoins please send us an email. All bounty/referral bonuses will be send next week.
Construction of CombiCoin
On October 2, 2017, the funds have been officially released by the supervisory board of the foundation. From that moment we have been fully focused on buying the assets backing CombiCoin. At this moment we bought around 50% of all the assets backing CombiCoin and we expect to finish the buying process this week. From the start we have been buying all assets in the same weighted manner meaning that all top 30 cryptocurrencies are currently bought for around 50% of the level we need.
After finished the buying process of the top 30 you can expect the following things:
- Website update
We will update our website to give you insights on all assets backing CombiCoin. And show the exact value of 1 CombiCoin.
- TRIA Token exchange listing
We are currently in contact with exchanges for the listing of TRIA Token. We expect that TRIA token will be listed on an exchange in the beginning of November.
- Bounty / referral bonus TRIA Tokens
Now that the exact amount raised is known we have determined the exact amount of bonus TRIA Tokens that is available for Bounty and referral bonuses. We will start with the distribution after the construction of CombiCoin procedure is finished. We will send all bounty/referral participants an email stating there bonus.
- Software development already started
The development team already started working on the smart trading software. In all coming updates we will keep you informed about the development.