Author Topic: ANN- ICO-Bitshares Naira XBITS.NGN initial coin offering  (Read 13468 times)

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Offline chigbolu

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Since we are in the era of liquidity pool staking on the bitshares DEX, Bitsharescrude has decided to take advantage of its own stake pools by offering the following stake and earn reward programs;

1. CRUDE.LVCNY/CRUDE.STHLP

Stake bitCNY and CRUDE.LVRG to earn CRUDE.STHLP(STH/LVRG) tokens monthly. To be eligible users must hold @ least 10% of the total supply of the CRUDE.LVCNY asset (APY: dynamic).

2. CRUDE.LPT/CRUDE.BTSP

Stake bitCNY and CRUDE.NGN to earn CRUDE.BTSP(BTS/NGN) monthly. Users must hold 10% of the total supply of the CRUDE.LPT asset to be eligible (APY: 6%).

3. CRUDE.BTX/CRUDE.TRDDEFI

CRUDE.BTX is an FTX like instrument that follows 1.5 times the daily price change of BTS. Hold a minimum of 100CRUDE.BTX tokens and be in the top 100 holders to be eligible for CRUDE.TRDDEFI (BTS/LVRG) weekly airdrops. (APY: 144% CAPPED @ 1,000,000CRUDE.BTX).

All other promos have been cancelled to facilitate the success of this three promotions.
The CRUDE.BTSP reward promotion  is aimed at bringing CRUDE.NGN back to its initial pegged value of 100CNGN/CNY, once this is achieved, the promo will be reviewed. While the others are aimed at improving adoption of the CRUDE.LVRG asset as a model brand cryptocurrency on Bitshares and have been set up to continue for the forseable future. Users are encouraged to try out the liquidity pools at this early stage where there is less competition.
All the funds for the reward are gotten from the profits from market making, liquidity pool swaps and personal finance, users can follow reward progress on https://fund.bitsharescrude.i.ng.

Since we are in the era of liquidity pool staking on the bitshares DEX, Bitsharescrude has decided to take advantage of its own stake pools by offering the following stake and earn reward programs;

1. CRUDE.LVCNY/CRUDE.STHLP

Stake bitCNY and CRUDE.LVRG to earn CRUDE.STHLP(STH/LVRG) tokens monthly. To be eligible users must hold @ least 10% of the total supply of the CRUDE.LVCNY asset (APY: dynamic).

2. CRUDE.USDTLP/CRUDE.STHLP

Stake XBTSX.USDT and CRUDE.LVRG to earn CRUDE.STHLP(STH/LVVRG) monthly. Users must hold 10% of the total supply of the CRUDE.USDTLP asset to be eligible.

3. CRUDE.BTX QUARTERLY BUY BACK

CRUDE.BTX will have a quarterly futures price which is dependent on the trading performance of bitshares and market fees generated from CRUDE.BTX and CRUDE.LVRG every quarter starting from 20th September. The contract wallet is crude.btx-account an initial settlement price has been set to reflect the last quarter performance based on supply and income generated.

All other promos have been cancelled to facilitate the success of this three promotions.
Users are encouraged to try out the liquidity pools at this early stage where there is less competition.
All the funds for the reward are gotten from the profits from market making, liquidity pool swaps and personal finance, users can follow reward progress on https://fund.bitsharescrude.i.ng.

Offline chigbolu

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Consistency is important in business and that has been a lacking tool for me and my project at the moment. The reasons being that I am virtually the only one doing all the work for it, so it is expected that my CRUDE.ASSETS will experience high volatility in prices and incur severe losses in capital.

As the sole proprietor of this project it has not been an easy ride and without the help of Abit, Europa and the Twentix community, especially Johnr, I would not have gotten to the level where the project is now.

I started with the idea of having a stablecoin in Naira that would bridge the gap between fiat and bitshares in my locality and nation at large, however due to limitations i have been unable to setup an automated process for this and I have also not been able to attract local interest for the currency. That coupled with my poor management of the currency has led it to drop from a peg of 65naira per CNY to 1000naira per CNY. Notwithstanding I have now corrected my mistakes on this currency by setting up a seperate wallet to issue and account for the reserve funds used to  peg the currency. The wallet is currently managed only by me, however hopefully with time that will no longer be necessary as I hope to find a way to automate the process without much inteference from me. Apart from my Naira stablecoin, I also developed the idea of inverse margin trading by creating the CRUDE.BTS asset which can be borrowed using CRUDE.NGN as collateral. This asset is meant to represent bitshares 1:1 and so far I have been very successful with the concept. I have also delegated the crude-ngn wallet to manage this asset as well since it has the power to borrow it at will and account for its supply. The concept behind CRUDE.BTS is that of margin calls, with the aid of this asset one can avoid margin calls from borrowing using bitshares as collateral. Another benefit is that one can hold both bitshares and a stablecoin at the same time thus benefiting from it no matter the price of bitshares. The only draw back for CRUDE.BTS currently is that I do not know how to automate its price feed, if I did then the coin would become perfect. Lastly I then created CRUDE.LVRG, which was meant to represent 5x the price change of bitshares on a weekly basis. However due to some lacklustre situations and poor concentration I lost 15 thousand Bitshares from my wallet and at that time it was almost all the money I had on me for the project. This mistake ended up being costly and I have not been able to recover even up till now. Luckily for me Abit seeing my pain in his generosity offered to return the 15 thousand bitshares back to me, this I heartily accepted, I even promised to pay back every penny with time. In order to begin the process of paying back I switched my CRUDE.LVRG tokens from an FTX to a reward token as a means of raising funds from other well meaning bitshares users who might have had interest in my project. The idea was to fast track repayment while working out a system to reward those who had contributed by buying the token.

This brought about my first promo bitsharescrude-fund, the idea was to  hold contributors funds and mine in the wallet till year end after which 10% would be disbursed back to them as bitshares. It was during this time that liquidity pools were developed for which i designed the first liquidity pool for CRUDE.NGN/BTS. I also set up a market marker reward program for STH, EVRAZ, TWENTIX and YOYOW. This piqued a little interest from the community at that time.
Also then, Johnr and I struck a few deals in CRUDE.BTS, NGN and TWENTIX coins. However financial constriants caused me to  sell most of the TWENTIX tokens to keep the project alive. That coupled with the fact that most of my funds were deplicting with no account for the loss discouraged me from continuing the market marker reward programs, which in true sense was fizzling out on its own already. However I was determined to continue my project so I decided to focus on improving the funds in the bitsharescrude-fund wallet which I wanted to use to reward contributors to my project.

This I did by setting up more liquidity pools (NGN/CNY, BTS/CBTS and TWENTIX/CBTS pools), after I discovered how effective liquidity pools were at generating profits from swaps between two assets, I decided to create another liquidity pool this time centered around my reward token CRUDE.LVRG with CNY.

After creating the pool I decided that it would be better to set up my reward program around the pool token, and thus instead of distributing contributors reward @ year end as initially planned the lure and power of liquidity pools caused me to redistribute the funds according to how they had contributed not in bitshares but rather in CNY. The reason why CNY was used was that the price of bitshares had gone so high then that I would make a huge loss if I tried to return all the bitshares I had been given. Each user was encouraged to add liquidity to the pool of which only Johnr responded, the other major holder of the CRUDE.LVRG asset opted to sell his tokens in the market for reasons best known to him. After the distribution I setup a new reward system that would payout holders of the CRUDE.LVCNY asset monthly until the total supply of CRUDE.LVRG is reached. I also increased the total supply to approximately 200 million tokens due to the fact that the top holder refused to stake his share as I had hoped he would and also to extend the duration of the reward as the reward would be paid out as CRUDE.LVRG.  After this change of plan I decided to create a new FTX token CRUDE.BTX, this time with better setup as a smartcoin with thesame idea of x5 the price of bitshares weekly, I even ran a lot of promos in the telegram channel to drum interest all to no avail.

This led me to rethink the asset's setup and readjust its parameters. It now currently runs at 1.5x the price of bitshares daily and I have also setup a quarterly buyout contract using another wallet crude.btx-account that would buy the CRUDE.BTX tokens every four months based on performance. The wallet is also used to account for the supply of the CRUDE.BTX tokens which I or any user borrows and is pegged at 1.5BTS.

A few days back I got the idea again to center my liquidity pools around the CRUDE.LVRG token and setup a franchise that would see the CRUDE.LVRG (LEVERAGE) Asset as the main investment instrument of the bitsharescrude-fund. This idea came after I saw how ineffective it was to manage the liquidity pools of CRUDE.BTS and CRUDE.NGN due to their stable nature and constant need to account for them. This led me to once again reorganise my liquidity pools and burn off any excess supply as well as change my payoff terms to Abit by offering to swap CRUDE.BTS for CRUDE.LVRG as repayment option.
This brings us to now, I have now set up seven liquidity pools and counting for CRUDE.LVRG and one FTX token CRUDE.BTX. I hope to setup some more as well as raise up  interest in them with time.
I am also building my business around the idea of Leveraging by using the power of liquidity pools, and FTX smartcoin tokens to build a good bitshares portfolio right on the DEX.
I want to encourage well meaning bitshares holders to take a sneak peak at CRUDE.LVRG and my other assets and contribute to making it a success right on the DEX all the data relating to the project is displayed on my website https://fund.bitsharescrude.i.ng for transparency and I also want to assure everyone that I will no longer be inconsistent with my project but rather build it to greater heights.


Offline chigbolu

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Since we are in the era of liquidity pool staking on the bitshares DEX, Bitsharescrude has decided to take advantage of its own stake pools by offering the following stake and earn reward programs;

1. CRUDE.LVCNY/CRUDE.STHLP

Stake bitCNY and CRUDE.LVRG to earn CRUDE.STHLP(STH/LVRG) tokens monthly. To be eligible users must hold @ least 10% of the total supply of the CRUDE.LVCNY asset (APY: dynamic).

2. CRUDE.LPT/CRUDE.BTSP

Stake bitCNY and CRUDE.NGN to earn CRUDE.BTSP(BTS/NGN) monthly. Users must hold 10% of the total supply of the CRUDE.LPT asset to be eligible (APY: 6%).

3. CRUDE.BTX/CRUDE.TRDDEFI

CRUDE.BTX is an FTX like instrument that follows 1.5 times the daily price change of BTS. Hold a minimum of 100CRUDE.BTX tokens and be in the top 100 holders to be eligible for CRUDE.TRDDEFI (BTS/LVRG) weekly airdrops. (APY: 144% CAPPED @ 1,000,000CRUDE.BTX).

All other promos have been cancelled to facilitate the success of this three promotions.
The CRUDE.BTSP reward promotion  is aimed at bringing CRUDE.NGN back to its initial pegged value of 100CNGN/CNY, once this is achieved, the promo will be reviewed. While the others are aimed at improving adoption of the CRUDE.LVRG asset as a model brand cryptocurrency on Bitshares and have been set up to continue for the forseable future. Users are encouraged to try out the liquidity pools at this early stage where there is less competition.
All the funds for the reward are gotten from the profits from market making, liquidity pool swaps and personal finance, users can follow reward progress on https://fund.bitsharescrude.i.ng.
« Last Edit: August 09, 2021, 11:03:28 am by chigbolu »

Offline chigbolu

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Starting From August
  • CNGN SWAP AND STAKE
  • XBTSX.STH/CLVRG/CNY STAKE AND EARN
  • Fantasy Football Resumes

Offline chigbolu

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Eligible Wallets for CRUDE.NGN Accumulation Reward
Note: To be eligible for this reward you must score above 1000CNGN in accumulation monthly. Reward is limited...

Account   Balance   Accumulation   Reward (CLVRG)
chato1   7763.53   7763.53   525660.97
accracreditunion   3861.62   5358.92   362847.20

Eligible Wallets for CRUDE.BTS Accumulation Reward
Note: To be eligible for this reward you must score above 50CBTS in accumulation monthly and all rewards will be paid in CRUDE.LVRG.

Account   Balance   Accumulation   Reward(CLVRG)
bit20-operations-agent-01   51.94674   51.95   60884.72
lode   33.89823   126.75   148555.41
accracreditunion   277.30032   190.09   222795.52

Congratulations to the winners of the first accumulation program

Offline chigbolu

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Bitsharescrude FPL competition Winners
Manager of the Season
1. Ade Emma
2. Desalu Temitope
3. Ayebakuro Daniel

Offline chigbolu

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ANNOUNCEMENT 🎙
BTX AUCTION
CRUDE.BTX is a smartcoin that represents the average daily price change of bitshares @ 5x Leverage...
It is backed by CRUDE.LVRG.

What should be the market value of CRUDE.BTX?
 
https://bts.ai/market/CRUDE.BTX_CRUDE.LVRG
How to get CRUDE.LVRG
https://bts.ai/market/CRUDE.NGN_CRUDE.LVRG
https://bts.ai/market/CNY_CRUDE.LVRG

Offline chigbolu

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New Targets
* CNY/NGN Liquidity Pool
* BTS/CBTS Liquidity Pool
Targets achieved

Offline chigbolu

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CRUDE.NGN, and CRUDE.BTS market fees have been raised to 1% to raise more funds for upcoming accumulation reward program in June..
« Last Edit: April 15, 2021, 07:35:39 am by chigbolu »

Offline chigbolu

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New Targets
* CNY/NGN Liquidity Pool
* BTS/CBTS Liquidity Pool
* 50,000STH FOR STAKING REWARD

Starting in May
* CNGN/CBTS Trading Reward Reboot
« Last Edit: April 15, 2021, 09:59:25 am by chigbolu »

Offline chigbolu

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LIQUIDITY POOL STATS
CURRENT SUPPLY: 1207.09CBTSP
BTS : 8827.94 CNGN: 264059.51
POOL VALUE: 18145.57BTS
MARKET VALUE: 15.03BTS/CBTSP; 426CNGN/CBTSP

Offline chigbolu

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CRUDENGN ASSET REPORT
Current Supply: 4293438.95 CNGN
Circulating Supply: 127538.94
Collateral in pool: 264059.51
Collateral in Margin: 1671753.94
Issuer income: 5759.62
Total asset value in CNGN: 74290.60
Total value in bitCNY: 1238.2
Deficit: 887.5bitCNY


Offline chigbolu

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CRUDENGN ASSET REPORT
Current Supply: 4,668,000 CNGN
Issuer income: 4706.8CNGN
Cumulative trade volume: 4,706,800CNGN
Total asset value in CNGN: 369,894.87
Equivalent Naira: 443,873.844NGN @ 475
BMR : 1.2
Decay Supply @387: 24,797CNGN
Double Mark @387: 345,097.87CNGN
Buy back volume = 1,079,367.1CNGN
Decay Value @387 = -709,472.23CNGN
Backing Value = -4,298,105.13CNGN

Offline chigbolu

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bitsharescrude-fund is the new Reserve/Budget Wallet for bitsharescrude, it will function as the wallet for holding contract tokens and for emergency funding, when the need arises for funds.... It will also serve as our portfolio, As more Contract tokens are bought or created they will be kept here.
We have now decided a sharing percentage for the funds that will be kept in this wallet, plus, when it will be disbursed, as earlier said this wallet is our portfolio, and our value as an organization will be reflected there... Follow this link to read up on bitshares fund... https://bitsharescrude.i.ng/fund.html