SPRING BTS Fund Management Rules and Spring One Purchasing Instructions

[bitcrab]

SPRING management team is considering to vote witnesses to push the implementation of BSIP42 if the voting WP is accepted at 7th Sep.

we'd like to adopt one metric to judge whether one witness work well on implementing BSIP42: if bitCNY has a more than 2% premium than fiat, then the fed price should be at least 9% higher than BTS price in DEX. currently only bitCNY feed price is considered.

if SPRING holders have any thoughts on this plan, please comment here.

[bitcrab]

So the buyback of SPRING will be at the same price in BTS terms, but you are expecting BTS to rise compared to Yuan (and overall)? At least if the fund is successful.

Yes, we hope BTS ecosystem can grow, and also the BTS market cap.

[xuzhihao168]

Support！

[gghi]

         support!  very  good  idea.

[bitcrab]

SPRING management team is considering to vote BSIP42 worker. https://github.com/bitshares/bsips/blob/master/bsip-0042.md

BSIP42 is suggested by abit, it introduce the new idea of "negative feedback feed price" to get more accurate pegging of smartcoin, we believe this will help the whole ecosystem, and also SPRING to grow.

if SPRING holders have any thoughts on this plan, please comment here.

[ripplexiaoshan]

To note that the trader's account is spring-trader, which is managed by professional trader from Ivy Capital.

[ripplexiaoshan]

What's the management fee (in %)?

Will SPRING be freely tradeable on the market 24/7/365?

As it was described in the main post, 0.2% is the management fee.

[ripplexiaoshan]

You only buyback without burn? Does that mean you'll sell the bought back assets at a later stage?

I am guessing at end of quarter/redemption time there will be a buy wall for buy back placed feeding a sell wall just above for new investors.

Jademont, care to confirm?

Exactly!

[armin]

What's the management fee (in %)?

Will SPRING be freely tradeable on the market 24/7/365?

[fav]

looks like SPRING is going to start soon, can't wait to see how it goes

[hrossik]

So the buyback of SPRING will be at the same price in BTS terms, but you are expecting BTS to rise compared to Yuan (and overall)? At least if the fund is successful.

[bitcrab]

Excuse my potentially silly question, but how can one profit from investing into the fund? :) You thoroughly described the calculation of the management fee, but how will be determined the buyback price for SPRING tokens? I guess the price will depend on the value of the fund. Can anyone please explain?

there is one assumption for the fund to make profit - the fund can help to stabilize and develop the market and make the BTS price to go up. then the fund can make profit from the bought BTS at lower price.

here the point is that the fund can really help to stabilize the market by playing the role of the last fireman.

[hrossik]

Excuse my potentially silly question, but how can one profit from investing into the fund? :) You thoroughly described the calculation of the management fee, but how will be determined the buyback price for SPRING tokens? I guess the price will depend on the value of the fund. Can anyone please explain?

[sschiessl]

What is the take of the SPRING fund on the accumulated voting power? As an investment fund you will be non-voting?

[bitcrab]

If 50M SPRING is sold you will add more SPRING to the market? Next round is another 50M or 150M?

will add more, but not your figure, will stop until 31th July 24:00 UTC-8 or the collected amount reach 200M. however in the month end of the first season, will also sell spring token if necessary.