The SPECULATE investment fund project is officially going on hiatus indefinitely. You may sell back your tokens for a limited time on the buy-back swapbot here: https://swapbot.tokenly.com/bot/cryptonaut/speculate-buy-back-bot#choose
Thanks for playing everyone!
Tip: Keep at least 1 of your SPECULATE tokens and you can get access to an exclusive community on https://tokentalk.org (sign in with your LTB/Tokenly account)
I am officially announcing a new experimental token based off of Counterparty called "SPECULATE". SPECULATE is a token which represents a community "crypto-asset" investment fund and pays out BITCOINEX interest every monday based on the earnings during that week. The basic idea is that funds are used to buy up "crypto stocks" and various other tokens (like on Counterparty), usually ones that pay out some sort of weekly, daily or monthly dividend. Including cloud mining and day trading operations, website profit sharing and other projects / ventures. Income received from investments is paid out once per week in the form of BITCOINEX.
This project is formed out of the ashes of my previous "investment fund" project, PETAMINE. If you had any PETAMINE tokens previously, you should now have an equal amount of SPECULATE tokens as well, and all funds received from that project have moved into bootstrapping this one.
In addition to receiving weekly payouts, holding any SPECULATE tokens also gives you access to the private "SPECULATE Crypto Fund" forum on LTB.
How does it work, what's the deal?
There are 310,000 total units of SPECULATE in existence. Every week, all income received from our various investments is added up and paid out to any address that holds some tokens. Payouts are made in the form of BITCOINEX, which is a Counterparty token directly convertible 1:1 with Bitcoin, and has the advantage of allowing dust payments (receive payments down to 1 satoshi) and easier / cheaper trading on the decentralized exchange (DEX).
In addition to the weekly payouts, every week a certain amount of the total income earned is reinvested back into the fund (typically to buy more shares in something). This percentage depends on how many unsold tokens there are. For example, if only 25,000 of the 100,000 tokens have been sold, then 75% of the weekly payouts are directly re-invested (because 75% of total payout goes back to the main holding address). If 50,000 tokens sold, then only 50% reinvested, and so on. If all 100,000 tokens are sold, then there is no reinvestment. At that point, 10,000 new tokens are automatically issued, slowly increasing the total supply.
After every weekly payout, the "base price" of the token changes, depending on how much the latest payout was. This is the price that you can directly purchase tokens for. The weekly price formula is as follows:
(last weekly payout per token) X (32 weeks)
Example: weekly payout of 0.00000200 XBTC per token = new price of 0.000064 BTC per new token.
In theory, as more tokens get sold, more BTC can be invested in projects, which increases the weekly dividends and in turn increases the price every week.
Ok, so how do I get started?
- Make sure you have your Counterparty compatible wallet setup (http://counterwallet.io/)
- Fund your wallet and then send any amount of BTC, XBTC or BITCOINEX to the funding address: removed, discontinued
- Wait at least 1 block confirmation and your SPECULATE tokens should be sent to you - note that this occasionally takes longer. Contact me if it's taking too long.
- Enjoy your weekly earnings!
- Token Name: SPECULATE
- Platform: Counterparty
- Blockscan: http://blockscan.com/asset.aspx?q=speculate
- Total Units: 310,000
- Tokens Left: 42,712.86
- Current Price: 0.00001464 BTC
- Funding Address: Removed, discontinued
- Daily Income Reports
- Weekly Payout Reports
Questions, concerns? Let me know. I will try and update this topic as frequent as I can.