SingularityDAO Open Beta: Contributions Open

Greetings Singularitarians,

Today is the day, DynaSet Open Beta contributions and withdrawals are open. Another milestone reached, DynaSets for all! On that note, we would first like to take a moment to thank everyone who participated in the closed beta, and of course everyone who will be joining us for open beta.

If you are withdrawing, we hope you are satisfied with DynaSet performance which has very effectively protected against some really quite unpleasant market conditions. If you are choosing to stay, thank you for your continued trust and support.

Finally, for all those who are new to DynaSets and perhaps new to SingularityDAO, welcome to the future of DeFi, we are thrilled to have you join us on this journey!

DynaSet Closed Beta Final Facts and Figures

dynBTC
dynBTC: 101%
BTC: 90%
Difference: +11%

dynETH
dynETH: 90%
ETH: 77%
Difference: +13%

dynSING
dynSING: 101%
SING Tokens: 91%
Difference: +10%

How To Deposit and Withdraw

dynBTC
Contribution Tokens

• wBTC, ETH, USDC
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution: Uncapped

Withdrawal Token

• USDC

Contribution Period

• Monday 28th March — Monday 11th April 08:00 UTC+0

dynETH
Contribution Tokens

• ETH, USDC
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution: Uncapped

Withdrawal Token

• USDC

Contribution Period

• Monday 28th March — Monday 11th April 08:00 UTC+0

dynSING
Contribution Tokens

• ETH, USDC
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution: Uncapped
• SDAO
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution Per User: $25,000
• Maximum Contribution Total: $250,000
• AGIX
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution Per User: $50,000
• Maximum Contribution Total: $500,000
• NTX
• Minimum Contribution: $1,000 USD Equivalent
• Maximum Contribution Per User: $10,000
• Maximum Contribution Total: $100,000

Withdrawal Token

• SDAO

Contribution Period

• Monday 28th March — Monday 11th April 08:00 UTC+0

Performance and Management Fees

Management Fees:
dynBTC and dynETH: 1% annualized fee — taken upon close of trading.

dynSING: 2% annualized fee — taken upon close of trading.

Management Fees are taken regardless of performance, using the following formulas:

1/100 * 96/365 * Market Cap at close of trading (dynETH, dynBTC)

2/100 * 96/365 * Market Cap at close of trading (dynSING)

Performance Fees:
dynBTC and dynETH: 10% of alpha generated — taken upon close of trading.

dynSING: 20% of alpha generated — taken upon close of trading.

Both dynBTC and dynSING ended with +1% profit above the hurdle rate resulting in total fees of less than 500 USD. Due to this being such a small number, we will be moving these fees into the following admin wallet addresses:

SDAO for dynSING: https://etherscan.io/token/0x993864e43caa7f7f12953ad6feb1d1ca635b875f?a=0x5f804878bc74f13dfe80383dfdf332397e274c2c

USDC for dynBTC:
https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48?a=0xd485a98067e37289e29bb54c5837d44fec2c5438

They will then be added to the performance fees of the open beta, at which point SDAO holders will be able to claim them. As you can imagine, sharing 500 USD between thousands of SDAO holders just makes no sense as everyone would only be able to claim a few cents each.

dynETH, while outperforming Ethereum wonderfully, did not outperform the hurdle rate and so no performance fees will be taken.

Open Beta to DynaSets V1

Open Beta will run for around 2 months and end during the month of June. We have decided against giving a specific date for this due the unpredictable nature of such things. From DynaSets V1 onwards, things will be done between very specific dates and times with much less downtime between roll-overs. Our goal is to get roll-overs down to minutes rather than the current 2 weeks we will see this time. On this occasion however, Open Beta will run until the launch of DynaSets V1 which will be in June, early June if at all possible, but late June remains a possibility if something unforeseen occurs.

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