JCF Jan. 2020 Update: A Universal Basic Income (UBI) System based on Crypto Assets
Our crypto index fund to make basic income universal, Joint Commonwealth Fund (JCF), has been working quite nicely and interestingly, which we’d like to share with you. Here’s a background to how it works. And here are some recent highlights:
1. JCF was launched into alpha in Oct. 2018 with roughly a USD 10,000 test fund with Net Asset Value (NAV) of USD 100 per JCF token, and has grown 66% by Oct. 2019. We’ve been holding the top 10 cryptos (by market cap) and doing monthly re-balancing since June. 2019.
2. We’ve changed our design from a 2% entry + 0.1% annual manage fee structure to 0% entry + 0% annual fee design in July 2019 and implemented the relevant changes, and have updated our whitepaper accordingly. The entry to the fund is also lowered to USD 10, to make it more accessible.
3. We also changed our original “annual” dividend payment to a “monthly” dividend. The first dividend payment occurred in Oct. 30th 2019 with some very interesting results: the topmost contributor of the fund (with 74.40% of the fund size) got 7.61% of annual return on investment (RoI), in USD dollar values; however, the bottom-most contributor (with just USD $10, occupying about 0.11% of the fund) actually got roughly USD $55.27 in dividend (about a RoI of 428.56% in dollar values)!
4. Our most recent monthly dividend that happened on Dec. 26th, the topmost contributor (now at 50.62% of the fund) got a 2.82% RoI “monthly” dividend, due to the existence of our “dividend pool”, while the bottom-most contributor (0.08% of the fund, or USD 9.47 in value, due to the fall of the overall crypto market) still got about 0.2231 JCF tokens (USD 16.46 in value, or about a “monthly” dividend of an RoI of 173.74% in JCF tokens, or a 73.81% RoI in dollar value!)
To conclude: this shows that JCF is bridging the wealth gap VERY AGGRESSIVELY due to the “redistribution” mechanism built-in. This is even to our surprise!
While tens of USD in dividends may not seem much to people in affluent nations (for an initial investment of USD 10 to begin with), think about what that could mean for people living in 3rd world countries! That could still be something quite material and could make a real difference in people’s lives.
For a final update, we’re privileged to have been invited to attend Collision 2020 in Toronto between June 22–25 this year as a “BETA Startup”, feel free to contact or visit us if you’re interested to learn more, or want to join our quiet revolution, to make basic income truly universal! :)
To learn more, please visit our official website for our whitepaper, or signup for an account!
