I hope you all enjoyed a nice summer break and that you enjoyed the nice bull run on cryptos. This one has not been a straight forward ride though. Since our last Newsletter, BTC is up 7% and ETH 37%, but we went through much higher levels just a few days ago. The trend seems now clearly positive in the medium term, but there won’t be any easy ride.
Fortunately, our ETH.BTC.USD strategy, one of our flagship, returned 82% over the same period with 34 trades. We are making new all time highs almost every day since the beginning of September. As you have to access these trading signals since September 18 2018 (almost 2 year anniversary), I hope you made a lot of money during this summer.
A V2 of this strategy has been designed and will be put in production shortly. Basically, we managed to design some new filters to identify the lasting trading range that are costing some performance to the strategy. It is important that we keep innovating in our products.
As described in the previous Newsletter, we are planning to restructure the DAF#1 and launch the DAF#2 in the coming weeks.
Concretely, the future strategy of DAF#1 which will be embedded into the Napoleon Bitcoin Fund; i.e the BTC Long Only, has gone well over the past weeks and our goal will clearly be to leverage on it to catch AUM.
On the structuring side, we have obtained the agreement of the custodian and are working on the prospectus modification and the commercial document. The minimum investment amount will be reduced to 25k€ and we will launch a share class with 25% performance fees on top of 1% management fees.
We have also thought of a marketing campaign with media coverage to promote the company and attract prospects, knowing that we cannot directly push the fund due to its professional nature. On pure sales activity aspects, discussions that we have with prospects are on hold in order to finish that restructuring. We hope to achieve the transformation by September 2020.
About the DAF#2, Iconic has published the press release to announce our partnership for its fund’s launch embedding the ETH/BTC/USDT Long Only Strategy. We have finalized co-jointly the marketing materials and Iconic is currently promoting the fund to gather AUM.
The launch date has not been decided yet — it’s in ICONIC hands, not ours. Given the market dynamics and the quality of our performances, we hope to launch it shortly.
New NPX token right, now active
We have activated the new payment right on the NPX token during summertime for NapBots service. Given that Napbots has generated very good performance for its customers, this is an opportunity to automate your trading while benefiting from a 20% discount at current NPX token market price.
We are convinced this discount will reduce over time as the token finds some ground-based on this feature (that should provide a floor close to 0.001 ETH) and because we will start generating some performance fee payment from the DAFs.
We have mixed feelings with some frustration on the sales real start and our stellar performances month after month. We hope you are using our trading signals to generate some profits while waiting for the DAF revenues to increase. Second payment batch was made in July as planned. We have increased the number of management fees recipient according to the described process.
The NapoleonX co-founders