JCF April 2023 Update
Hello all,
It’s been a while since we’ve last updated on JCF. Lots of progress excited to share with you!
Current JCF Status
Net Asset Value (NAV): US $62.85164
Assets Under Management (AUM): $49,414.20
Monthly Active Users (MAU): 89
Dividend Pool: $643.70
Donation Dividend: $7,892.05
2022 was arguably a winter (bear market) for crypto/blockchain projects, and we’ve seen the fall of the crypto bank Celsius Networks and the exchange FTX, which again reminds us of how early the market still is.
However the winer appears to be over, as the crypto market experienced a re-surge in Q1 this year, and people are getting excited at Etherum’s upcoming Shanghai update.
Some important progress we’ve made since this period:
- safety: Keeping both assets and also our investment strategy safe has been one of the main considerations since JCF started. We started with an “index fund” strategy of the top 10 cryptos and later added an “exit all” to stable coin (USDT) during bearish times. Due to this safety-first approach, we have only a relatively mild loss compared to the general market, and even have gained 10% since the beginning of 2023. We’ll be introducing a “dollar-cost average” approach during “bearish” markets in 2023 too.
- UK operation and new team: Last June JCF attended Collision’23 in Toronto as a Beta Startup, and Mike Q. Hainsworth has joined us as the head of JCF UK Limited and global CEO. We’re also glad that Nick Harmon joined us in Chief Investment Officer capacity.
- WEALTH Platform: We’re currently in the process of launching the WEALTH system, which is intended to be JCF’s second generation system, that will incorporate all the existing features of JCF’s main Social Fund, but also allows other social projects / enterprises to raise funds.
JCF’s “social dividend” mechanism, which is a way to store away profits generated by a project to a “dividend pool”, then pays regularly dividends to all participants, with optional “donation” mechanism to give part of the profit to any person or organization the participants deem worthy.
Once the basic WEALTH system is tested, we’ll intend to migrate the current JCF main Social Fund to the new system, currently expected to be end of Q1, 2023.
We’re excited to share with you this update, and please share with us any feedback/questions you might have! And we look forward to invite you to make crypto more impactful, by making basic income truly universal!
