Important events of the 1st quarter of 2018
One of the most anticipated events that happened: FINS got listed on a centralized exchange. Crypto exchange Mercatox, unlike all the rest, was not afraid of our security token and listed it at the end of March. Although this exchange is not one of the TOP-10 in terms of trading volume, this is a milestone event for the fund and it brings it one step closer to larger exchanges. Users of the exchange can currently trade FINS \ BTC pair, and the average daily trading volume in April was 1.0–1.6 BTC. It is almost impossible for projects with securities to partner with centralized exchanges due to a serious onslaught of regulators on them. Earlier FINS token was officially listed on the decentralized exchange Token.Market. FINS \ ETH trade is now available on it, but the volume is minimal.
In January 2018, a decentralized exchange IDEX listed FINS. But after a promotional event that led to an influx of traders, the exchange was scared of the increased interest in our token and stopped the trade. There were days when the volume of trading reached 45 ETH. We haven’t yet managed to list the token there again.
Representatives of the fund have repeatedly said that they do not intend to engage in illegal activities, among which are manipulation of the token’s price and the volume of trading on crypto exchanges. If FINS tokens are traded on exchanges below the ICO price, then you have a great opportunity to purchase them at a reduced price. Though we strongly recommend token holders not to sell them at such low prices, it’s better to wait for the dividends.
In the near future the token will be listed on another decentralized crypto exchange ForkDelta, which is the reincarnation of the famous EtherDelta. Thus, the token will be officially available for trading on three exchanges.
We continue to negotiate and discuss the possibility of listing FINS with other exchanges that have large trading volumes.
In March, the fund’s partner Vyacheslav Sorokin took part in the Startup Innovation Tour by Skolkovo in Tyumen, where he was one of the experts selecting startups. A week earlier he also gave a speech at the conference “ICO prospects” in the West Siberian Technopark.
In April, the fund’s representatives took part in the SAP Russia forum. While studying new trends in the market of system integrators, we have noticed a significant transformation of the market towards the digitization of all possible aspects of businesses. There was also a large section dedicated to Blockchain, which attracted keen interest. It’s great that SAP does not follow the hype, they are not adding this word to each and every app. SAP’s blockchain has a completely applied, technical meaning. The company uses this technology in several projects connected with logistics and systems of verification and accounting of goods.
At the end of the month, our representatives also attended the Blockchain and Bitcoin Conference in Moscow. At the conference, Yaroslav Kabakov, the fund’s mentor, made a presentation on the topic of development of options and futures trading market for Bitcoins. Apart from him more than 20 speakers took part in the panel discussion and in the thematic sections. Smile Expo, as always, have done everything in their power to make a high-quality conference. During the conference we managed to talk to Elina Sidorenko about the prospects for legal regulation of tokens and cryptocurrencies in the Russian Federation. We also discussed current trends in the fintech and ICO market with representatives of the banking and economic spheres. In the exhibition area, we found some ICO-projects that we hadn’t encountered before. We also noticed that compared to the same conference in Moscow last year, there were way less ICO projects, but their quality had significantly improved. We hope that this is the trend of the whole market, not only this exhibition.
Seeing how quickly the rules of ICO market change, and how often unfair or inexperienced contractors are encountered, we decided to launch a special unit to support our startups. Now we will closely accompany the projects, helping them with the right choice of jurisdiction, WP writing, selection of advisors, development of MVP, advertising campaigns, community formation, access to stock exchanges and so on. Generally speaking, we will be helping projects with everything that might help them to successfully launch an ICO, raise a hard cap and then build a full-fledged business.
As for the fund’s startups, in the coming weeks we will complete the exits from four of our short-term position investments, and then we will officially announce the dates of the first buybacks of tokens. In the last few months two more projects were added to the fund’s portfolio: both are connected with development of the blockchain infrastructure and simplification of interaction between cryptocurrency users.
We would like to remind you that it’s not in the fund’s interest to invest all raised money in different projects as quickly as possible. Also, the fund doesn’t need active PR, which in some cases can do more harm than good. FinShi Capital’s goal does not involve earning on advertising and attracting new investors or token speculation on crypto exchanges. The main idea is to earn profits on the growth of carefully chosen portfolio startups. We continue to, despite the skepticism of some users, work hard following the initial strategy. And our work is already paying dividends, which will soon be available to the investors.
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