Dear Hoo users,
We will launch an ETF token sale of DeFi on Hoo Options on July 31. Please read the following rules:
Total amount: 500,000 USDT
Mode: First come, first served
Price: 1 USDT = 1 ETF
Time: 12:00 on July 31 - 18:00 on August 2 (UTC+8)
Coin accepted: USDT (wallet account)
Minimum investment: 10 USDT
Requirements: Complete KYC
Initial net value calculating time: August 4 (the closing date of subscription on August 2, the fund position will be enabled on the 3rd, and the net value will be calculated on the 4th).
Subscription and redemption time: starting from August 4, the lock-up period is one month, and redemption can be applied after September 4.
ETF distribution time: within 1 working day after the end of subscription
Date of issue of the Fund: July 31, 2020
Target index: principle68 DeFi index 6
Fund weighting rules: 20% ETH + DeFi projects market value weighting method
Position weight adjustment frenquency: Monthly
Number of positions adjustment frenquency: Quarterly (effective on the first trading day of January, April, July and October each year).
Subscription fee: 0
Redemption fee: 0
Secondary market transaction: not supported for the time being
Fund net value: updated and informed weekly
Fund custody: Hoo
Fund Management: Principle68 Capital
Subscription and redemption time: you can apply for redemption after 1 month of lock-up.
Confirmation of purchase and redemption: T+1
(*T-day: trading day, with 18:00 each day as the limit, T-day before 18:00 (excluding), and 18:00 (inclusive) and after T-day
For T-day application, the share will be confirmed according to the net value of T-day fund.
On the day when the share is confirmed, the profit and loss can be checked after the net value of the fund is updated.
Open redemption funds can be sold on the next T day confirmed after buying.
Note: if the managers Committee considers that some specific reasons will affect the stability and comprehensiveness of the index during the index adjustment period, we will make announcement notice in advance and temporarily adjust the position.
ETF tracking targets of DeFi: ETH, KYBER, MAKER, REN, BANCOR, COMPOUND
Kyber Network (KNC)
KyberNetwork is a chain protocol for real-time trading and exchange of highly liquid digital assets (for example, various types of encrypted tokens) and encrypted digital currencies (such as ETH, Bitcoin and ZCash). KyberNetwork will be the first system to implement the ideal operational properties of an exchange, such as untrusted features, decentralized execution, real-time trading, and high liquidity. KyberNetwork is a system that supports instant trading and conversion of multiple digital assets and will provide a rich payment API and a new generation of contract wallets to enable seamless payments across tokens for all users and expand overall trading capabilities, and users can also trade derivatives to reduce the risk of price volatility in cryptocurrencies.
MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum, which provides the first decentralized stablecoin Dai on Ethereum. Dai is generated, backed, and kept stable through collateral assets that are deposited into Maker Vaults on the Maker Protocol.The Maker Protocol is managed by people around the world who hold its governance token, MKR. It is used to pay for the stable cost of borrowing Dai and to participate in the management system. Different from the stablecoin of Dai, because of its unique supply mechanism and its role on the Maker platform, the value of MKR is closely related to the performance of the whole system. Dai, a decentralized and stable currency, has key applications in mortgages, leveraged transactions, hedge insurance, international remittances, supply chains and government public bookkeeping.
Republic Protocol is a protocol in which a large number of encrypted assets between BTC,ETH and ERC20 are traded in a distributed dark pool, and it is also the only known blockchain enterprise with this kind of distributed encrypted asset dark pool trading technology.
Investors include: FBG, Polychain Capital, Signum Capital, Hyperchain Capital, BlockAsset, BlockVC and so on. Republic Protocol has developed a secure, scalable and distributed dark pool trading protocol that does not rely on trusted intermediaries to operate dark pools and provides rewards via the protocol token REN. Users can trade BTC, ETH and other ERC20 tokens using Republic Protocol, which can process billions of transactions per day. The Republic Protocol terminal and all other components of the protocol are open source. Miners perform calculations to match orders in a distributed implicit order book in return for a protocol token, REN, paid by the originator of the transaction, and the entire order matching process is distributed.
Introduction to the landed application: although the Republic Protocol Agreement has not yet launched the dark pool platform, it has successfully attracted investment from many well-known strategic cryptocurrency funds and companies. These investors include market makers and liquidity providers, which will help drive the adoption and growth of the agreement.
Bancor is a system that provides liquidity for small-cap tokens with one or more tradable ERC20 tokens built in as a reserve. New tokens are issued in exchange for reserve tokens, which are priced autonomously through smart contracts that allow direct conversion between tokens and without an exchange.
Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty.
Risk Alert: Any digital assets investment is risky. Please evaluate your risk tolerance before getting involved. Your support on Hoo is highly appreciated.
July 30, 2020