Category Archives: Capitalization Weighted Index
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.
Introducing Rhea Token
Rhea is a revolutionary crypto-equity hybrid token.
Our main mission is to create a clear synergy between the worlds of finance and cryptocurrencies. Through the Rhea Crypto20 – our capitalization weighted index, we will enable multiple ways of hedging, speculating and investing in the cryptocurrency market without holding any individual currency. The Rhea token will be used to buy and sell options on our platform or provide market liquidity for extra return.
Rhea aims to achieve a crypto-equity synergy by adopting the best features from both worlds. From financial markets we will take long-term value adding instruments, multiple ways of participation and dividends. From cryptocurrencies – bypassing burdensome regulations, fast and simple execution, as well as the opportunity to invest in exotic assets. Rhea is ERC-20 compliant and is built on the Ethereum blockchain. It is the means by which options trading will be executed on the platform and dividends will be paid out.
Transparency and Accountability
We value transparency above all. Currently cryptomarkets are unregulated and ICOs are not obliged to provide any accountability or performance results to their investors. Although in the cryptocurrency world such regulations still do not exist, we still choose to integrate them in the core of our company by providing token holders multiple ways of tracking our performance through our accountability systems such as daily transaction volume on the entire platform and complete capital allocation breakdown.
In contrast to equity markets, the world of cryptocurrencies currently has 2 major flaws – fragmentation and specific knowledge. Traditional markets are well structured and covered by multiple indices, which give investors a clear view of how they are performing and what the overall state of the market is. Most investors cannot fully understand all cryptocurrencies and are uncertain which one is the best. Investing through the Crypto20 will enable participants to bet on a market direction or to hedge their portfolios
against volatility and unexpected risks. Our goal is for the Crypto20 index to become a benchmark of the cryptocurrency market. Options trading is how investors will take position on the index. Our goal is for the Crypto20 index to become a benchmark of the cryptocurrency market.
The platform launch is planned for 01.05.2018 and additional features will be introduced in the following 3 months. Post launch, Rhea will pay out quarterly dividends to all token holders. They will be based on transaction costs revenue from options trading, before the subtraction of any expenses, such as operational and maintenance costs. The dividend payout ratio will range from 20% to 40%, depending on the success of the ICO. Once the payout ratio has been established it will remain the same in perpetuity.
The token sale will commence on the 2nd October and conclude on 30th October. The campaign is divided into 5 rounds each with a different discount factor and we will be accepting only Ether contributions. The maximum available supply will be 50,000,000 tokens, of which 42,500,000 will be offered during the ICO at an initial price of 0.000814 ETH/RHEA or about 0.25$/RHEA. These funds will be used exclusively for developing the platform and all of its features.
Failure to raise 100% of the required capital would result in the permanent reduction of the total supply of Rhea tokens. The burn model will keep the distribution pro-rata to the individual contributions made. This way we avoid two issues: us having more than 15% of the total supply and giving contributors an abnormal amount of Rhea tokens.
The bounty campaign starts on September 11th and will stop one day before the ICO’s end – October 29th. 1% of the total contributions will be allocated for the bounty, or a maximum of 333,333.33 RHT – whichever is lower. There will be 5 sub-campaigns in descending order of importance – Bitcointalk, Twitter, Articles&Videos, Facebook and Translations.
Official Website: http://www.rheatoken.io/