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Offline jcrubino

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CryptoDex Delegate Proposal Call for Feedback:
« on: April 18, 2015, 01:00:39 AM »

This is a call for feedback not yet a call for votes.

CryptoDex is a delagate and business proposal to make Bitshares the first stop trade platform for trading Blockchain Asset and Tokens Indices

CryptoDex is assembling easy to use feeds to create indices that users can hold long and short positions across marketcap weighted indexes across the entire cryptocoin universe without direct exposure to the management of the underlying assets.  Bitshares provides the ideal mechanism for this to happen.

Professional industry members need tools to hedge their direct exposure to cryptocoin holdings and outside users need to find easy to use vehicles that allow for easy exposure across all available assets.

By voting for cryptodex you enable the realm of blockchain finance to become stronger and Bitshares a premiere role for this to happen.

The proposed symbol for these funds are bitCDX-{IndexSymbol}
    e.g.  bitCDX-MCAP88
    this signifies the Bitshares Cryptodex Marketcap Weighted Top 88 blockchain assets and tokens

Additional index tracking funds include:
     The Strong Privacy Based Index
          DRK, XMR, SDC, BTCD, XDN  etc.
     DApps
          Storj, Florin, Factom, etc

Cryptodex is also looking for a way to provide high value indexes that take high market caps with low liquidity offerings into account as these tend to be the least overhyped assets on the markets that are able to maintain value and considered a solid method for portfolio investors in general as these types of assets have less negative volatility.

The Cryptodex mission is to make blockchain finance safe and sane for users with all types of experience in this new domain.

Overall Goals:
  • Create the safest possible blockchain asset and token indices on the market
  • Help provide users interfaces that anyone can use
  • Create gateways third party assets pegged to the Cryptodex on the Bitshares platform

Cryptodex is committed to providing the safest possible index mechanism available across all viable asset issuance platforms while remaining pegged to the Bitshares platform.

When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.

We understand the role of feeds and delegates is up for re-implementation and are keenly watching these developments to provide the best options for users and delegates and Bitshares as a whole.









Offline onceuponatime

Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #1 on: April 18, 2015, 01:08:36 AM »
Since the Moonstone project would be expercted to return you a 15% profit, would you then be using all that too for for feeds and feed frameworks?

Does your business model intend that you become self supporting/profitable in the long term?

Offline jcrubino

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #2 on: April 18, 2015, 02:44:24 AM »
Since the Moonstone project would be expercted to return you a 15% profit, would you then be using all that too for for feeds and feed frameworks?

Does your business model intend that you become self supporting/profitable in the long term?

I did not know of any return possibility on Moonstone and had not done any calculations for such via Moonstone.
You will have to send me links on this matter so I can give you a proper answer.
As I understand Moonstone is it a Bitshares wallet and html user framework.

Cryptodex is first and foremost creating feeds for delegates to start running indexes.  Whether that means infoBots from current exchanges, or information from coinmarketcap.com and coingekko, or eventual feeds from distributed information and prediction markets, these can be bundled up for delegates to run as they see fit.  If feeds in general need a maintainer this can be done as well.

Regarding the Business Model:
CryptoDex is also a business activity proposal for the Bitshares platform.  Delegate pay would eventually be used towards customer awareness and education of the Cryptoindices and available tools for users to use the Cryptoindices effectively.

Any Cryptodex initiated wallet (alternative to Moonstone wallet) would be created and focused for savers and passive market participants a market segment that does not get much attention.  I see this as a great way to onboard users who are interested but not yet active in Blockchain currencies and smart platforms.

Cryptoindices are useful to many different users:
     conservative market participants
     active traders
     industry participants hedging risks

Eventually a realtime exchange (or combined force with metaexchange) could be created to offer a mix of hard asset portfolios and Cryptodex portfolios as a one stop shop for index funds and derived financial tools.  A conservative market value of crytpo exchanges is currently at 13.5 million based on current volumes and a 0.02% trade fee.  I would be interested in hearing from others on a fair current valuation of the crypto markets.

By all means point out anything that is not clear to you.





« Last Edit: April 18, 2015, 03:01:03 AM by jcrubino »

Offline CLains

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #3 on: April 18, 2015, 12:24:08 PM »
The proposed symbol for these funds are bitCDX-{IndexSymbol}
    e.g.  bitCDX-MCAP88
    this signifies the Bitshares Cryptodex Marketcap Weighted Top 88 blockchain assets and tokens

Additional index tracking funds include:
     The Strong Privacy Based Index
          DRK, XMR, SDC, BTCD, XDN  etc.
     DApps
          Storj, Florin, Factom, etc

Sounds good. What are your plans moving forward?
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Offline pc

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #4 on: April 18, 2015, 12:31:59 PM »
When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.

I don't like this mix. Moonstone is a separate project with its own plan for funding. If you only need 80% for funding your own project, then register an 80% delegate.

Also, I'm always very much hesitant to cover the development of a business platform using delegate pay. After all, once your business becomes profitable you'll take the revenue for yourself. Essentially the DAC is taking over your business risk, and it gets very little in return.
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Offline jcrubino

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #5 on: April 18, 2015, 07:11:35 PM »
When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.

I don't like this mix. Moonstone is a separate project with its own plan for funding. If you only need 80% for funding your own project, then register an 80% delegate.

Also, I'm always very much hesitant to cover the development of a business platform using delegate pay. After all, once your business becomes profitable you'll take the revenue for yourself. Essentially the DAC is taking over your business risk, and it gets very little in return.

https://bitsharestalk.org/index.php/topic,15694.0.html

Well when I first posted this proposal I was under the impression that Bitshares operated as a company "Distributed Autonomous Corporation" and Bytemaster blogging about how he considered Bitshares a startup made that presumption much stronger.  In my mind I was working within that framework to create value on the Bitshares platform.  Since then, a new proposal for privatized assets has come up and Bitsaphire has leaned in to voice its opinion that Bitshares is a community not a company...  I understand why privatized assets is alluring to the Bitshares stake holders as it is the fastest way to increase trade fees based on platform use. 

The main proposal is for indices which requires aggregation from multiple sources, which takes some work and will require constant updates to the feeds to stay current with coin supply parameters and market values, additionally options need to be available for delegates if they do not want to trust just one source for feed information.  From the feedback I have gotten so far it seems like delegates do have a problem in keeping feeds up to date and reliable, so this seems like it is a job in and of itself.

But I am posting these as proposals to get feedback like yours so thank you.

In regards to business plans I am skeptical of any near term profitability unless Bitcoin goes through the roof within the next year.  As it stands now it looks like Bitcoin will be around $100 sometime in August.  I do not see any trends in mass adoption yet of Bitcoin or other cryptocurrencies in the near term either.  I think the proposed wallet would be minimally profitable enough to cover cost and is more like a public service so people do not have to be subject to the extremes of speculation.  Bitshares happens to provide the best blockchain for this to happen.  The wallet is really geared to non speculative users, meanwhile the indices can act as long and short etfs on any third party exchange and I can see those being a high volume traded asset for such companies. Full disclosure I am not involved in any exchanges at this time except for occasional freelance work which is nothing.



« Last Edit: April 18, 2015, 07:52:23 PM by jcrubino »

Offline Stan

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #6 on: April 19, 2015, 12:53:48 AM »
Well when I first posted this proposal I was under the impression that Bitshares operated as a company "Distributed Autonomous Corporation" and Bytemaster blogging about how he considered Bitshares a startup made that presumption much stronger.  In my mind I was working within that framework to create value on the Bitshares platform.  Since then, a new proposal for privatized assets has come up and Bitsaphire has leaned in to voice its opinion that Bitshares is a community not a company...  I understand why privatized assets is alluring to the Bitshares stake holders as it is the fastest way to increase trade fees based on platform use. 

I smelled a metaphor in the air, so I just had lean in to do a drive-by posting (to mix a metaphor).  Bytemaster uses at least ten metaphors to help explain BitShares to any unfortunate person caught in an elevator with him.  Company, Community, and Country are all on that list.


« Last Edit: April 19, 2015, 01:07:36 AM by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline jcrubino

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Re: CryptoDex Delegate Proposal Call for Feedback:
« Reply #7 on: April 19, 2015, 01:05:23 AM »
Bytemaster uses at least ten metaphors to help explain BitShares to any unfortunate person caught in an elevator with him.

Thanks Stan, I think that summed it up well.  The metaphor must change with the floor he passing through.

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