THE:Introduction of leveraged ETF

??1.IntroductionofleveragedETF

Anexchange-tradedfund(ETF)isatypeofopen-endfundstradedonexchanges.ThepriceofanETF’sshareswillchangethroughoutthetradingday.LeveragedETF,asaninnovativeinstrumentderivedfromtraditionalETF,trackspositivemultipliedinvestmentearnings(2times,3timesor10times)byadoptingleverageinvestmenttools.Toputitsimple,whentherateofinvestmentreturnchanges1%,thenetassetvalue(NAV)oftheETFwillchange2%,3%or10%,asagreedincontracts.

TheleveragedETFproductsofthisexchangearedesignedtobeperpetualfundswithoutmaturitydates.TheproductsaredenominatedinUSDT.Duringoperation,aprofessionalteamwillberesponsibleforautomaticadjustmentofpositionsandriskmanagement.TheNAVoftheproductswillnotreturntozero,sothatchancesofforcedliquidationarenil.Investorsarefreetobuyorsellatanytimeonthesecondarymarketandeasilytradeonmargintoleveragetheirearningsfromthefluctuationofunderlyingassets.

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

元宇宙公司Afun Interactive完成530萬美元A輪過橋融資:3月13日消息，韓國“虛擬K-pop”元宇宙公司Afun Interactive宣布完成70億韓元（約合530萬美元）A輪過橋融資，Shinhan Asset Management參投，該公司在此前的A輪融資中募集到100億韓元（約合760萬美元），當時投資方包括CJ Investment、Company K Partners和CJ ENM。[2023/3/13 13:01:12]

???2.What’stheadvantagesofleveragedETF?

Comparedwithspotinvestment,whataretheadvantagesofleveragedETFofourexchange?Let’stakeETFBTC3,whichprovidesthreetimesthedailyperformanceofBTC,asanexample:

Higherprofits:

Whenthepriceofadigitalcurrencyshowsstrongtrends,buyingleveragedETFwillgeneratehigherprofitsthanspotinvestment.For?example,ifthepriceofBTCincreasesby10%,leveragedETFwillbring30%ofprofitstoinvestors.

Compoundinggains:

TheleveragedETFofourexchangewillmaintainaconstantfixedleverageratioforusers.Ifauser’saccounthasgeneratedunrealizedgains,theETFwillautomaticallyaddpositions.Inthisway,underthesingle-sidemarket,ETFinvestmentreturnisthreetimeshigherthanspotinvestment.

Layer2 ZK Rollup的NFT市場Mint Square上線.stark域名:9月17日消息，基于以太坊Layer2 ZK Rollup的NFT市場Mint Square上線由Starknet.id提供支持的.stark域名。.stark個人資料URL現已支持Mint Square測試網，主網即將推出，目前可按長度過濾或按類別進行搜索瀏覽。[2022/9/17 7:02:48]

Riskmanagement:

TheleveragedETFofourexchangeismanagedbyaprofessionalquantitativeteam,whichwillkeepcontrollingtherisksduringtheoperationoftheETF.Fortraditionalleveragedinvestment,whenthepriceoftheunderlyingbenchmarkdecreasesby33.33%,investorswillsufferfromforcedliquidation.Incontrast,ourETFwillappropriatelyreducepositionswhentheuser’saccounthasunrealizedloss.Inthisway,ourETFuserswillnotsufferfromforcedliquidationwhenthepriceofunderlyingbenchmarkdropsby33.33%.What’smore,ifthepricerisesagain,thesystemwillautomaticallyaddpositions,sothattheforcedliquidationwillneverhappen,andthebenefitsofETFinvestorsaresafeguarded.

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

BBA與Zeromint合作推出NFT，促進比利時啤酒文化傳播:1月1日消息，比利時桶聯盟 (BBA) 的釀酒商和農民與Zeromint合作推出NFT，旨在保護聯合國教科文組織認可的比利時啤酒文化和遺產。 作為合作的一部分，Zeromint將在GoChain區塊鏈上鑄造NFT，并通過BBA面向國際啤酒愛好者發行。據介紹，自即日起，該組織將在未來14天圍繞可持續發展和比利時啤酒遺產的保護，運行若干BBA NFT收集項目。

據官方聲明，第一屆比利時桶NFT拍賣將用于招募11名參與者出演BBA出品的名為《比利時桶》的電影，該電影的目的是通過專業的電影制作進一步紀念比利時啤酒的歷史，同時，BBA計劃在全球推廣和發行電影。

此外，NFT獲獎者將加入白名單VIP通道參加所有BBA活動，并獲得BBA俱樂部的復古啤酒菜單和專屬瓶裝。同時，NFT拍賣所得收入的80%將捐給比利時當地慈善機構。BBA還計劃推出NFTs，除了為啤酒愛好者創造參與和獎勵機會外，還提倡植樹，學習專門的工匠技能和傳統文化。

據悉，Zeromint為新成立的NFT交易平臺。（cointelegraph）[2022/1/1 8:18:38]

???3.CalculationoftheleveragedETF’sNAV

ThefundshareandpercentageofaleveragedETFproductisbasedonthenumberofETFunitsaninvestorholds.Forexample,let’sassumethenumberofallunitsinanETFisM;thetotalequityamountoftheETFisTusdt;andthenumberofETFunitsheldbyinvestorAisN.Thus,thevalueofETFforeachunitis:

ThetotalequityamountheldbyinvestorAis:

TocreateaconvenientenvironmentforinvestorstopurchaseandredeemleveragedETFshares,theexchangehasestablishedproductslinkedtocertaintradingpairs.ThetradingvalueofETFisbasedontheNAVoftheunderlyingdigitalcurrenciessothatpurchaseandredemptionarefacilitated.TheplatformwillannouncetheNAVoftheETFinrealtimetoensurefulltransparency.Thepriceoftradingpairswillbelinkedwiththepriceofthenetvalue.IfthereareanydeviationsbetweenthesecondarymarketpriceandtheNAV,achanceforarbitragewillcome.Ifthepriceislowerthannetvalueofthefund,itisprofitabletobuy.Ifthepriceishigherthannetvalueofthefund,itisprofitabletosell.ETFarbitragebringsthemarketpriceofETFsbackinlinewithNAVwhendivergencehappens.

bitcointalk論壇用戶使用OpenAI的第三代語言預測模型發帖:開發人員Manuel Araoz在網上開了一個玩笑，通過讓機器人寫一篇關于自己的文章來展示人工智能機器人的潛力。7月18日，AI開發公司OpenAI發布了其第三代語言預測模型GPT-3，該模型能夠創建“與給定文本中相同長度和語法結構的隨機句子”。

這篇博文提供了一些實用的信息，比如如何利用這項技術來模擬名人的寫作風格——比如，Araoz就用它生成了一次對愛因斯坦的采訪。他預測GPT-3有可能取代記者、演講撰稿人和廣告文案撰寫人。近日，bitcointalk.org論壇上的帖子使用了該機器人的預測語句，得到了“積極”的反饋，認為“該系統肯定是智能的。”（Cointelegraph）[2020/7/22]

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

??4.ThepositionrebalancingsystemoftheleveragedETF

TheleveragedETFoftheexchangeismanagedbyaprofessionalteam,whichrebalancesthepositionsandcontrolrisksinrealtime.ItworkstoensurethattheleverageratiosofETFmatchtheagreedratios.

加密貨幣投資管理初創公司Cointracker獲得150萬美元融資:加密貨幣投資管理初創公司Cointracker周二宣布，該公司從某重量級投資者獲得了150萬美元種子融資。在“種子孵化器”Y Combinator的支持下，本輪融資由投資公司Initialized Capital發起，而Initialized Capital是由Reddit聯合創始人部分發起的，曾是Coinbase早起投資者之一。[2018/4/11]

Let’stakeETFBTC3Lasanexample.ThisfundtakeslongpositionofBTCandreflectsthreetimesofitsperformance.TheNAVoftheETFis1andeachunitoftheETFholds3usdtofBTC.WhenthepriceofBTCincreasesby1%,theNAVoftheETFwillchangeto1.03andtheleverageratiobecomesunder3.Atthistime,eachunitoftheETFwillbuyadditional0.06usdtofBTCtokeepthevalueofBTConholdto3.09.Inthisway,theleverageratioofETFwillbekeptas3dynamically.Thepositionswillalsobereduceddynamicallywhenthepriceisfalling,inordertopreventtheNAVofthecontractfromreturningtozero.WhenthepriceofBTCgoesupagain,thepositionsofBTCswillbeaddeddynamicallytotideoverthefluctuationofthemarket.

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

????5.FeesofleveragedETF

LeveragedETFtradingpairsbelongtospottrading.Thetransactionfeeofpurchase(buy)andredemption(sell)byinvestorsis0.2%ofthetransactionvolume.(Userswhoareentitledtolowertransactionfeeswillenjoyreducedrates.)Moreover,investorsneedtopaymanagementfeebasedontheleverageratio.Themanagementfeewillbeusedtocoverfeesincurredduringtheoperation.(Ingeneral,themanagementfeeis0.05%,nowthemanagementfeeis0anditwillbeadjustedaccordingtomarketfluctuation).ThemanagementfeewillbereflectedinthechangesofNAV.Inotherwords,theNAVofleveragedETFisthevalueafterthereductionofthemanagementfee.Eachmanagementfeewillbechargedat00:00everyday.Holdingtheproductatothertimeofthedaywillnotincurthefee.

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

??6.Summary

Inconclusion,the3timesleveragedETFisverysuitableforcorrespondingsingle-sidedmarket.Asaconvenienttool,itfullyusesthecapitaltogenerateinvestmentprofits.TheETFismanagedbyaprofessionalteam,whichprovidesreal-timeanddynamicadjustmentofpositionsandpreventsforcedliquidation.Inpractice,investorsneedtohavecorrectjudgementofthemarkettrendsandpre-settakeprofitlinesandstoplosslinesreasonably,inordertocontrolrisksinrealtimeandseizemarketopportunities.

Disclaimer:LeveragedETFisanewgenerationoffinancialderivatives.Theabovedoesnotconstituteinvestmentadvice.Pleasepayattentiontotheriskcontrol.LeveragedETFhelpsminimizetheriskofforcedliquidation.However,underextremeconditions,therearestillrisksofNAVdecreasingapproximatelytozeroorliquidation.PleasenoteanychangesintheNAVandpricestoavoidpotentiallosses.

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Tags：THEIONERAETFethereum-classicORIGYN FoundationGenerational Wealth SocietyDOGETF

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