Fully backed Crypto ETP Project

Suprises me it seems intimidating undertanding it when your running an arb service.
Kind of a red flag really unless im misunderstanding you, but you seemed pretty clear in what you wrote.

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When it comes to unregulated investing projects, I have to agree, not for me. But it’s interesting seeing under the hood on this project, I have absolutely been following along and enjoy seeing the progress. At least in the US (I am there), everyone is a little on edge after the Madoff thing (there are entire TV series dedication to investing projects that can only exist if new money is coming in - I’ll avoid the “S” or “PS” “MLsomething” or “RP” words). I’m not saying this is that, what I am saying is anyone that has an accountant is freaked out between that stuff, and the IRS getting serious.

It would be a tough time to get a project like this going in the US but other countries might be different.

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I fully understand your concerns. I personally would not invest in such a project either :sweat_smile:.

That beeing said, I am a technical kind of person. My approach is the following:
Other people have done it, so I can do it. It’s not technically impossible. I believe the biggest headache will be to get everything officially approved and the regulations. I will need external advisors for that. But it’s still a long way there.

I have spoken with our CFO and he told me that here in switzerland, the barrier of entry for a fully official, stock-traded fund is 5’000’000. That is definitely out of reach for now. There are also some other uncertainities such as: Do I have to have 5m under my management, or do I have to dump them in, sort of like fees for entry?
I have informed myself about patronages, but I have never seeked institutional investors and to be honest, I do not want to sell off part of my business in order for institutionals to inject financials into the project. Its kind of taking steroids or so. Seems unhealthy.

Those are mostly the reasons why I want to tackle the technical aspects first. Once these are settled, I will start to use my fund for my investment/storage of my mining income and any passenger is welcome to come onboard.
From there on, I will focus to make it official.

Im glad you enjoy the project.

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Short update:
I’m proud to have implemented NFT preview in my webpage. The loading of further images is still cumbersome… but it works :slight_smile:

you can have a look here:


keep in mind, these images are under my copyright

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I am happy with the APE-“crash” results, but I believe its time now to move on.

I think I have a first selection of coins to include into the portfolio:

  • Bitcoin
  • Chia
  • Binance Network
  • XLumen
  • Tronix
  • Ripple
  • Litecoin
  • Monero
  • Ethereum

*(in rough order of volatility vs performance)
**(further project research still required)

surprising to me: Chia had the lowest volatility compared to bitcoin over my records.
right after, Tron and BNB had the best performance and were comparatively little in volatility (if you can call 48-54% a “little”)
interestingly to me, ethereum had one of the worst performance/volatility ratios (of course the data is highly influenced by the fact that some projects are still comparatively new and I may only have a short data time-range on record (~6 months)

(lower volatility is better, higher performance is better)

I have looked a little into the tron project, and it looks promising. Devs are active as well.
chia is right around the middle of my tracked currencies performance, but as said, volatility is very good among my samples.

I’d be happy to get some feedback about the pre-selection, blockchain suggestions and considerations.

Important: For a currency to qualify, it must be actively tradable and it must be powered by its own blockchain. I will create etf with other categories in the future, but this is what I am focussing on now.

I think it is the safest bet considering the sheer amount of alt tokens out there and how many memecoins there are. Perhaps… there will be a memecoin etf in the future? :sweat_smile: (Let a man dream :innocent: )

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just a short note:
I split the NFT-project thread to the new NFT forum. For anyone of you interested into that part, here you go:

this is also where I take request and discussions for the NFTs

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It is time for another weekly update.
Last week I have successfully launched my CryptoCrests NFT.
This gave me plenty of learnings and insights. Specifically about the interaction with the client via api.
As of right now, the process is still 90% manual.
I can create the Metadate NFT automatically and the RPC shell. Picture upload, gathering of the checksums and sending the rpc to the client is still manual.

Next, I will launch a second NFT. This one will have 10k pictures at launch. That is only possible with automation. Its only purpose is to build and test a chia api-library which allows me to communicate with the client.
This way I can test out the reading of transactions and creation of new transactions.

I have also now established some more of the final coins specifications.
The name and Identifier are set. The amount is set.
I will initialize the coin with 10 xch which will be bound thereafter. I expect launch by start of next year although I have realized that my time spans are extending due to many unforssen engounters. What matters is that im getting closer.

Also, I have done some more research on some blockchains. For example EOS, which was highly recommended on some webpages.
One key indicator for me is to look at development activity. Well:

This Repo looks quite dead to me.

Interestingly, the coin also resides outside of the return/volatility chart of before. Definitely a no-no
I will post more updates on the nft test project. But I think it will take 2-4 weeks at least. I have to prepare all images, as I dont just want to release some totally random stuff.

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Another update is in :slight_smile: As you’ve likely noticed, we had a major drawdown (some might call it a crash) in the crypto world. I’m very glad about that. It let me test my momentum based rebalancing.

I have found that the feature works to my satisfaction. There is still tuning required. I have started by adding a 90 day momentum to better fare in longer moves as well.

Some pictures about activity:




Note: the charts on okex are misleading as they always show the buy at the lowest spot and the sell on the highest spot. But the timings are nice to readout. Example:

this was bought on 27.50 not 25.

As stated in:

I am very happy with the insights. At time of crash the portfolio was mostly balanced >35% in cash and has now mostly backed to equal balancing.
Ape’s purpose has been fullfilled and has been kicked out of the portfolio. It is now time to add one more currency (for more, the portfolio is still too small)

I have also made progress with the Kitchenknife NFTs image generation and will likely come to make the wallet interaction soon. I have researched it a bit and gladly found out that it seems to be a normal websocket api to the full node, which I am using to pull the exchanges data currently.

Ill post a quick gif about the kitchen knife progress later that week.


I guess exchanges are less important now with .6.1 allowing nft / token trading

The main issue I have with the exchanges and the official offerings is that they are at a fixed price and stay like that.

Lets take the recent movements as an fictional example.
For instance, I put an offering which states that I am buying ape for $5. I post the offer out there.

Now the price plummits.
I have to make sure to cancle the offer and push it to the exchanges so that nobody can fullfill that offer at an ape price of 2.70

That might be a drastic example but fast price fluctuations of a couple percent are quite common in the crypto space.

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Ah, ok, ive never used offers.
Id have thought they would give you a chance to confirm / deny if you still wanted to follow through after someone wanted to deal with you.

If it is as you stated thats not great.
Hopefully they implement a confirm later on, as its clear to traders priced offers will be dependant on many factors possibly.


nope, once you made the offer, you made the offer.

There is the possibility to cancle it in the gui but my best guess is that the offer is stored on the blockchain as smart contract and would need to be canceled with a second transaction or so.

But im really not sure as the offers dont seem to require a fee and plattforms such as dexie recognize them immediately. But then how does my offer get executed or other clients informed that my offer ir cancelled (needs testing)

Its just that i wss reading yesterday, and what i read contradicts that it cant be revoked.

But it didnt go into much detail. it wasnt talking about exchanges but posting your offer to forums etc.

  • Makers can change their minds and cancel a transaction


I guess they dont know its no longer valid unless they try it, and it gets refused.

Thoughts on how to buy/sell and offer files
Well, to post an offer to an exchange, you upload an offer file. Basically just the same as if you posted it in a forum.
Changing the offer afterwards is not possible. You can make a second offer and upload that one. Then you have two offers.
Somehow the exchange keeps track if your offer has been executed or canceled so that information needs to be stored somewhere on the blockchain.
For static prices like nfts, that works actually quite well. But for price fluctuating assets, it is suboptimal. I think a lot has to be changed for such things to happen. For everyday commodities, the offers are perfekt I think. Really allowing barter trades like nft vs nft and so on.

The Limitations however are why im reluctant to use offer files on decentralized exchanges (a complaint in a post before) - at least in the beginning.

Maybe I’m missing something fundamental and there is another way. for decentralized exchanges.
Perhaps I could also make an offer download page. Eg:

  • Current price: 39.
  • I want to purchase for x dollar…
    → There is your offer file, valid for 2 minutes.

Of course, the time in between is critical. Too short and the transaction pertner might not be able to execute the transaction. Too long and the risk of price changes is increased. One could endlessly generate offer files, until the price is favourable.

This would result in a higher spread to mitigate the risk / exploitation opportunities.
It also is vastly more complicated than an overview on a webpage: current price, market cap etc and would require an open port/outside connection to my wallet management (which would impose some risk)

In my opinion it is much safer and easier to provide the current price on the webpage and read out the wallet locally for incoming transactions. The value of the transaction would be evaluated at the time when it came in and shortly later (max ~2-5 Minutes) the apropriate amount would be sent back to the sender. That much for the starting.

Thoughts of the current Situation of FTX
I’m relatively confident that we are now approaching this season’s low in the cryptomarket (timewise, a couple of months max)
This means, it is soon the season to buy into the market. I’m currently in the process of cutting my company’s/farms cost so that I can focus better (financially) on the project.

The recent News with collapsing Companies and exchanges make me confident to be on the right track with a fully backed project rather than some mist in thin air. I have thought about security and how to prove it. I will store majority of the funding in cold wallets. Working capital in online (onpremise wallets). And small amounts directly on exchanges for immediate small scale rebalancing. (probably some function of Balance standard deviation in 1 week timeframe as a first guess). The addresses will be provided, so that anyone can look it up.

Of course anyone could make that statement, that I might just take the money and snitch off.
Those fears, I cannot fully mitigate. I’ve got scammed myself one or two times in the past with shops totally looking legible. What I can do do mitigate the fear is to provide documents such as the company ID, Creation proval etc. The plan it to make n nft from it and put it into my storage wallet, kind of how I put a company logo NFT into my wallets.
( https://mintgarden.io/collections/kryptomine_basecollection-col1nd9kcrca97kzpvjh5rwy393cdwgs6sqdxks6ukqan7fv9ef43m3see8v0d )

If you have that fear, the project is nothing for you to invest in. But thats okay, isnt it? Its totally fine with me for one to just follow along and never invest in it. At last, my goal is not to build up a get rich quickly sheme.
Id rather have the Project grow naturally (slowly but hopefully steadily).
That would also largely reduce pressure (when the project grows too quickly) and allow for procedural adjustments. For example, I will integrate more wallets, once the funds reach a certain level. Eg. 10k per exchange. I definitely want to start having cold wallets then. (chia right from the beginning)
Implementing cold wallets for all coins right from the start would bind up plenty unnessesary resources at that time.

Thank you for the great source!
As I read it, its as I stated. I have an offer which either someone takes or I cancle it.

My strong guess is that Offers are just smartcontracts in chialisp. In that case, I could perhaps slightly adjust the smart contract to auto-cancle after a certain timeframe. That would be feasible. I would then post a new offer, whenever either the old offers lifetime is over or the offer has been executed.

Requirements would be:

  • Exchanges can actually work with a slightly modified offer file
  • Exchanges tolerate uploading a new offer every x seconds

Challenges would be (when done through public exchange):

  • Only one customer at a time
  • API interface to at least one exchange (requires research)

Yes they are.

I dont understand why you need an exchange.
You can just do it direct from your wallet.
Maybe post the offers on your site and remove at will.

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It is time for another weekly update :slight_smile:
The recent days/weeks I have focussed on the nfts while doing some maintenance work on the Portfolio manager.
I have started/written some libraries to help interacting with the chia client later (eg rpc’s).
For minting NFTs, the rpc library is pretty much set and done. What needs to be implemented still is to send the created rpc request to the chia client. Given that this rhould be standard api procedure, that shouldnt take too long.

Along the lines, my Minting Tool is about to be finished. Minting is some heck of a tidious, repetitive process. I sat on 10 images for 4 Hours (uploading image to nft.storage, building metadata file, getting checksums, building rpc, sending minting transaction, transacion stuck, redo the process …)
To put it short: I hate such tasks and I suck at them. My Brain just shuts down. Its really painful. Hence im really happy that Minting-Hell is over soon :slight_smile:

Working on the other projects also gave me some time to think through the next steps and map out the path to take:
Up next is the finish of my minting tool followed with chia client rpc communication.
After that I can finally mint the smart coin used for this project. This is a major Milestone for me.
When the Coin is minted, I will start writing nessessary rpc objects for pulling the chia wallet balance and sending the according coin back.

I will need to change the rebalance process. As of right now, all exchanges are treated individually. This needs to change to an asset pool with cash transferall between my wallet and the exchanges.
In the beginning, the assets wont be so high that it is nessesarry to keep the balance on the exchange high. However, If I purchase my own coin, I will need means to transfer the funds to the exchange :slight_smile:
When that is done, I’d consider it an early, closed alpha.
testing will begin with my personal funds after which I will purchase the coin on a monthly basis from my mining income. When that`s successful, I’d call it candidate for open alpha.

Realizing, what needs to be done still, I recon it will likely still take a couple of months before alpha is open. Of course, my original time planning is off by miles :sweat_smile: But so far I am really happy about the progress. I have already come farther than anticipated when I originally started the project. And to close it off with Amras Law:

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Hello there,
I couldn’t read all of your posts, I guess I’m too lazy for that.
I was amazed by the work you did according to your graphics and lit a cigarette with pleasure. (smoking is harmful to health)
What should I do to use the product? I am interested!
Do you have a license fee? Or in return for dividends? I don’t know.
well done, well done , well done

first off all, it is still in early stage. It will still take a couple of weeks/monts to be availble.
Once available, I will publish information on my Webpage.

In short:

  • In the beginning, you will be able to send chia to a given address and get a specific coin returned. You are able to send the coin back and convert it to xch.

  • There are no management fees. Fees (target 1% currently) for converting xch <–> coin will be in place