1. The first DAF is on its way and may be followed by a second one straight after. Timing is for this summer. Both should be launched on BTC.USD pair at this stage as institutional investors need to be educated on cryptos, and we have to take them step by step. Both will be regulated funds.
2. Regarding the following DAFs, we will first see how we collect on the first 2 ones to fine tune the calendar. We are targeting European investors to start and will expand our distribution capabilities once we are successful there.
3. Trading bots that we have launched recently will be managed independently and will still be available once DAFs are launched. They are addressing the retail market.
4. Fees will be paid on a monthly basis to NPX token holders that will sublicense their token with us. On management fees, they will be paid as soon as we receive them. For performance fees, they should be collected on an annual basis as per the recommendation of the regulators and would then be paid over the following 12 months to avoid a negative impact on our NPX price.
As already explained, this strategy has been launched on this platform so that our project gets some traction on this active community of traders.
We have already gathered more than 800k USD in AUM in a short period of time, so our strategy is working.
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We understand that some people are looking at the recent performance of our strategies and comparing them to the best assets in class (BTC or ETH).
1. First, our lead strategy (ETH / BTC / USD) recently made a new all-time high.
2. Second, we had a fantastic run in 2018.
3. Third, we are constantly learning from the past and will propose in the next few weeks a slight evolution to reduce false signals in low price range periods.
Napoleon Software bots
1. We have just made a change on the usage of NPX token in this offering to simplify the constraints and welcome people that do not hold any NPX but might be interested in our project. Now holding NPX will allow to have a reduction in the price paid for this service. Also, as always, the more NPX you hold, the more discount you will have.
2. The bots have been designed to work on margin trading accounts and accommodate additional strategies or discretionary trading to be done on the same account. Therefore, you have the choice in the funding of the account you want to use. The performance we show, however on our strategy is based on a USD funding.
3. Regarding amount traded, no orders would be sent by the bot above a 25k USD level. Adjustment trades can be done in the case of fees being paid or the balance of your account changes because you run external strategies.
For Kraken, you need to declare your leverage beforehand in the API to do a trade. As we authorize people to use their accounts for personal trading, we needed to make sure that our strategy could run in parallel.
For those that only plan to use our bot on their account, we will offer the possibility to adjust this leverage directly on their computer. However, because we need to short, it should not be set at a level below 2.0x.