📈 Bit20 - The cryptocurrency index fund [2017/10/21 - revision]
On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.
We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:
BTC / 97176578516 USD / 10 % / 0.85976012807504 coins / 5984.97 USD
ETH / 29061885615 USD / 10 % / 16.960754729882 coins / 303.385 USD
BCH / 5478786293 USD / 10 % / 15.750781545023 coins / 326.691 USD
LTC / 3191993340 USD / 10 % / 85.692945468501 coins / 60.0474 USD
DASH / 2223871663 USD / 8.5220072536331 % / 15.168796093183 coins / 289.088 USD
XEM / 1966583851 USD / 7.5360651974365 % / 17968.105912026 coins / 0.215815 USD
BCC / 1533492056 USD / 5.8764319191834 % / 14.244626588068 coins / 212.2765 USD
NEO / 1410060000 USD / 5.403433007392 % / 100.28336070295 coins / 27.72555 USD
XMR / 1372869170 USD / 5.2609155553727 % / 30.06149829579 coins / 90.0513 USD
MIOTA / 1124973189 USD / 4.3109635489792 % / 5480.7862743649 coins / 0.404735 USD
ETC / 1087339125 USD / 4.1667475981545 % / 190.47031903844 coins / 11.25665 USD
QTUM / 853050434 USD / 3.2689395288467 % / 149.85039117696 coins / 11.22505 USD
ADA / 739515555 USD / 2.8338671825077 % / 47473.117131458 coins / 0.03071645 USD
OMG / 741469285 USD / 2.8413539909907 % / 200.41535457373 coins / 7.29514 USD
LSK / 561295623 USD / 2.1509179015239 % / 226.26783965176 coins / 4.89148 USD
ZEC / 554982509 USD / 2.1267256766774 % / 4.9138705398179 coins / 222.7035 USD
XLM / 443277821 USD / 1.6986667300939 % / 32452.20305922 coins / 0.02693415 USD
WAVES / 379275746 USD / 1.4534070073895 % / 200.87932560958 coins / 3.722985 USD
HSR / 366146282 USD / 1.4030941276915 % / 66.547902959399 coins / 10.84905 USD
STRAT / 299176969 USD / 1.1464637741274 % / 196.80825958901 coins / 2.99748 USD
The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed
You will find on the website the composition with the updated price of each coin and the total value of the index
Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange
When adjusting the feed price, is this an instant change or is there a phase/period in which it shifts so as to reduce the occurrence of force settlements?
Another important question - you import a memo key in the python price feed scripts, would it be possible to import the memo key for the null account? Or would I need to create a new burn/null account for an algorithm based asset (MPA) which took advantage of a burning mechanism?
The price feed varies very little between one witness to another. If you mean when when do the revision, the price feed before and after the revision are the same. Only the constitution of the index varies. The algorithm compile the new index composition and built it with the last price recorded.
The memo key is the same as the account "announce" so everybody can see on the blockchain what is happening via Cryptofresh
Cryptofresh @announce : http://cryptofresh.com/u/announce
Cryptofresh @bittwenty.feed : http://cryptofresh.com/u/bittwenty.feed
The memo key is only used by witnesses to be able to read the data we send in the blockchain so they can built the price feed and adjust some parameter. You wouldn't need it to burn shares if you decided to.
Yeah, but for a theoretical MPA - if we were able to read the memo of a burn/null account then you could destroy some of the MPA to change an algorithm based asset's variables. Say destroying a few thousand $ of the MPA to increase/decrease the appreciation/depreciation.
oh great this new for me thanks for sharing :)
looks like a model portifolio.
Upvoted and also resteemed :)
Great post
Cool idea. This is a BitShares formula-pegged asset similar to bitUSD and bitCNY? How would you contrast this with the Crypto20 index ERC20 token?
Interesting Info... I did not know for this, Thanks ;) UP and Vote...
You are doing a great job here. T
good post
Maybe You could create Bit10 with bitUSD as a short backing asset?
interesting good read dibs256