Dear Hoo users,
We will launch an ETF token sale on Hoo Options on March 24. Please read the following rules:
Total amount: 500,000 USDT
Mode: First come, first served
Price: 1 USDT = 1 ETF
Time: 12:00 on Mar. 24 - 18:00 on Mar. 26 UTC+8
Coin accepted: USDT (wallet account)
Minimum investment: 10 USDT
Requirements: KYC completed
ETF distribution time: 3 hours when the token sale closes
Those who invested more than 1000 USDT will receive gifts from Hoo, including
- 10 USDT trading funds for contracts trading
- 10% off the interest coupon for Hoo loan
- 1000 Points (worth 50USDT)
Time: 12:00 Mar. 24 - 12:00 Mar. 26, the gifts will be sent when the token sale closes
ETF stands for the ownership of the halving fund of Principle68 Capital. If you hold any EFT, you can apply for redemption in a month after the token sale. Redemption price equals to the foundation net value on the day.
Redemption confirmation: T+1 (T stands for trading day. 00:00 - 17:59 is T day, 18:00 - 23:59 is T+1 day). If a user applies on T day, he will get the share based on the fund net value of T day and will be able to check the profit and loss when the net value is updated.
Fund initial sale date: Mar. 24, 2020
Target index: principle68 Halving index 5
Index following coins: BTC, BCH, BSV, ETC, ZEC
Fund weight rule: market value weight
Position weight adjustment frequency: monthly
Position type adjustment frequency: quarterly (valid on the first trading day of every January, April, July and October)
Minimum purchase: 10 USDT
Redemption time: one month after locking
Purchase fee: 1%
Secondary market trading: not enabled yet
Fund custody: Hoo.com
Fund management: Principle68 Capital
Note: If the manager committee believes that some special reasons may impact the index stability and comprehensiveness of the index during the adjustment, we will make an announcement in advance and make last-minute adjustments to the position.
Below is a table showing the position earnings, ROE, net value of the fund per month starting from Dec. 31, 2018 to Feb. 24, 2020:
ROE of the Month = Earnings of the Month / Initial Fund of the Month *100%
Highest net value in history is 2.894 on June 30, 2019, i.e., 189.4% of ROE.
What is Net Value?
Net value, also known as the fund's net worth, is the net asset value of each fund unit, which is equal to the total assets of the fund minus the total liabilities divided by the total number of unit shares issued by the fund. Open-end funds are purchased and redeemed at this price.
For example: If the topic ETF's current net value is halved by 1.30, it means that the fund has a floating profit of 30%.
Principle68 Capital is a professional institution specializing in the quantitative trading of cryptocurrencies and the preparation of ETF index funds. It has a world-class investment research and development and management team. The team members have worked as the third largest hedge fund in Europe and have been partners. All members of the team have graduated. Ph.D. from a famous university in the UK, and has a top team of mathematicians and scientists.
The Principle68 Capital team has extensive experience in the design, development, application, and preparation of ETF index funds. The team focuses on quantitative trading and ETF index fund preparation for more than 20 years. Currently, there are 40 strategic trading in multiple markets around the world.
The Principle68 Capital team has close cooperation with domestic and foreign head exchanges, including: Binance, Huobi, OKEx, Bitmex, upbit, etc. The company's two flagship quantitative products have maintained stable annual returns. The average annualized rate of return of CTA products is 25%, and the average annualized rate of return of statistical arbitrage strategies is 30%, which are among the top five products in the industry. The team's strategy style continues the bloodline of the third largest hedge fund in Europe. Its risk control system is fully embedded in the trading system and uses machine learning to optimize the strategy.
- The ETF token sale is different from the previous Hoo Options projects since the ETF cannot be traded in the secondary market when the ETF token sale closes.
- ETF is a perpetual fund that doesn’t have an expiry date. When the ETF purchase closes, it will be locked for a month.
- Hoo will make announcements on the daily fund net value of ETF.
- Rules related to ETF are designated by Principle68 Capital and Hoo makes slight adjustments based on their official rules.
Mar. 23, 2020