Betoken Omen has opened — Become a hedge fund manager now

We’re proud to announce that Betoken Omen is now open to anyone who has successfully been whitelisted via our Airdrop registration form.

How does it work

To see if you have been whitelisted, launch Betoken Omen via a Web3-compatible browser, such as Metamask+Chrome/Firefox, Cipher, Status, and Trust Wallet and connect your Ethereum account to the Rinkeby Testnet.

You’re whitelisted if you see a credit of 100 KRO (or more if you referred others to join) in the Betoken Omen interface. If you see them, congrats, you’ve been approved as a Betoken’s fund manager.

And now, what can I do with Betoken Omen?

Start managing a percentage of the fund assets under management (AUM) by making investment decisions (see tab My Decisions). Make new decisions by buying and selling crypto-assets available in Betoken Omen with Kairo tokens (KRO). Our price feed works in real time by being connected directly to the Kyber Network price feed. Choose the opportune moment to make your investment because the more profits you make, the more Kairo you have, the more money you can manage.

This is the core of Betoken’s Incentivized Meritocracy: by constantly redistributing Kairo based on the profit one makes for the fund, we can ensure that the best people manage the most money and get the most income.

To see who are the best Betoken’s fund managers, check the Ranking tab.

Start your fund manager journey now!

Details about Omen

Investment cycle duration:

• [1st phase] Deposit & Withdraw: 1 day (we have already provisioned the fund with 10,000,000 DAI. So, no need to deposit.)
• [2nd phase] Make Decisions: 28 days
• [3rd phase] Redeem Commission: 1 day

Totaling 30 days.

Commissions & fees structure:

• Commission rate (total fund’s profits set aside as commission and distributed among Kairo holders proportional to the amount they hold.): 20%
• Asset fee rate (fund assets set aside and distributed among Kairo holders.): 0.1%
• Developer fee rate (paid to Betoken’s developers to fund future support.): 0.1%
• Exit fee rate (charged whenever one fund’s member withdraws funds.): 3%
• Next phase call reward (For the functions that transitions the fund to the next phase, the successful caller can get a reward in Kairo.): 10 KRO

KRO price and Airdrop amount

• Kairo price: 1 KRO = $USD 0.5
• Airdrop amount: 100 KRO/user
• Referral reward: 10 KRO/referred user, no upper limit

Criterion for converting Omen KRO to Mainnet KRO

You must make at least 5 investment decisions (buying AND selling counts as one) per cycle. Betoken will be deployed on the Mainnet Ethereum Network in Q1 2019. Stay tuned and enjoy Omen!

Second Airdrop round

For the people who aren’t still whitelisted, a second airdrop round will begin in few hours Tuesday, July 31, 2018. It will last until Monday, August 6, 2018. We’ll update you by email and in your Telegram channel. Stay tuned.

In addition, due to the influx of bots we’ve seen in the first round, we will alter the registration form to be more bot-resistant. Bots that we’ve detected in the first round will of course not receive any tokens.

To share your thoughts or to learn more about the project, come chat with Zefram, Surya and Guillaume directly on Telegram or Twitter. We look forward to seeing you there!

Don’t forget to visit betoken.fund. Stay tuned for announcements on Reddit and Facebook. And we’re always looking for talented individuals to join the team. Please reach out to us at hello@betoken.fund.

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