Satoshi•Fund pays $627k dividends to Satoshi•Pie holders in form of Satoshi•Steem tokens

in #money5 years ago (edited)

Satoshi•Pie and Steem have a baby - Satoshi•Steem!

First of all, I have to admit that paying out dividends was not planned when we launched Satoshi•Pie. It is truely unique and once upon a time event. In fact, it happens because we are splitting our headline investment product into two.

Why should we do this?

We set quite strict rules of the asset management for Satoshi•Pie: it has to include 85% of liquid blockchain assets. When a month ago we made a decision to invest in Steem Power we did it in accordance to liquidity limits. We didn’t expect that Steem would grow so fast. Dima's expectations about price of $1 in a short term seemed overoptimistic. However, a wonder has happended. Steem grew remarkably. As a result, now in Satoshi•Pie we have about 40% of illiquid assets.

This creates a hypothetical “dead end” situation. If half of our clients decided to exit, we would force to sell all our liquid assets and live and wait for 2 years with illiquid Steem Power. After 48 hours of talks only 1 of our 30 clients decided to fix the current profits. However, this exit does n't solve our main problem - 15% cap on illiquid assets.

The fundamentals of Steem show that its price’s growth is a harbinger of something big. On the one hand, we want to be a part of this growth story. On the other, we want to provide a bright future for Satoshi•Pie, a future without “dead ends”. So, we decided to split it.

Today Satoshi•Pie will distribute dividends to the SPIEs holders in form of the tokens of our spin-off Satoshi•Steem Fund valued at $627,424.3703 or 944.8628 bitcoins.

What is Satoshi•Steem?

Satoshi•Steem is a new mono fund that has only Steem Power tokens. It will have a permanent emission that will compensate dillution of shares. Also it compensate counterparty, liquidity and market risks by profitable advanced AI curation.

At the moment of creation it had ~0.17% of VESTs under management. We believe it will solve one specific problem for minor investors in Steem Power: it will give them a flexibility of having investment (not voting) power of Steem Power but staying liquid. It should work well for passive investors and would attract more money to Steem ecosystem.

97% of Satoshi•Steem tokens are distributed proportionally among Satoshi•Pie holders whereas 3% of Satoshi•Steem tokens go to Satoshi•Fund in order to make Satoshi•Steem liquid.

By this decision we are also solving a liquidity problem of Satoshi•Pie. A part of Satoshi•Steem will become a part of Satoshi•Pie. Our goal is to make Satoshi•Steem liquid. If the portfolio managers( @vitaly-lvov, @creator and @hipster) don’t reach it, we have a right to make a decision to liquidate Satoshi Steem and distribute Steem Power to Satoshi•Steem holders in 104 weeks.

Satoshi•Steem Roadmap

While this roadmap does not have any specific dates we plan to reach the following milestones during lifecycle of a product:

  • A launch of AI curation based on TensorFlow
  • A launch of an incentive program to ensure liquidity
  • A launch of product dashboard on
  • A launch of UI for operations on
  • A launch of automated deposits to increase Satoshi•Steem capital

Again there are no specific dates and the tasks could be changed based on the market situation. Our main focus is still launching convinient UI for Satoshi•Pie clients.

Information Disclosure

The Satoshi•Steem is based on Bitshares blockchain and 100% backed by Steem Power holdings.

  • Created 763 038 846 SSTEEM tokens (1 token = 1 vest);
  • Satoshifund is an account which holds Steem•Power;
  • At the moment of a split at 12.00 GMT there were 165,984.288 Steems;
  • Time of split: GMT 12.00 15 July 2016;
  • Accounting to audit. Here you can find the price for SSteam calculated on the basis of the net assets.

What is Steem?

Steem is a blockchain-based social media platform where anyone can earn rewards. Steem token is a tradeable token that may be exchanged at anytime anywhere in the world. It is liquid, so you can sell it, spend it or Power Up. Steem Power is an influence token that earns more power from being held long term and voting on posts. The more one holds the more one can influence others’ rewards and earn rewards for voting.

Steem has a permanent emission. In less than one year there will be 500 millions of Steems, in other words, the quantity of Steems will increase more than 5-times. After that it will increase 2 times per year. The emission is distributed among Steem Power holders (90%) and saved for contribution rewards (10%).

Sо, at the moment it's profitable to hold Steem Power, but there's a problem with its illiquidity. It means if you want to take out Steems from Steem Power, you should press Steem down and Steems will be given to you in 104 weeks.

What is Satoshi•Pie?

Satoshi•Fund is a blockchain asset management platform.

Satoshi•Pie is the first traded blockchain fund that invests in different blockchains. It was created on the 9th of May 2016 with $50k under management. In less than 3 months the assets under management has grew to more than $1.4 million and (base cost of tokens grew +284% in US dollars and +168% in bitcoins). After the split Satoshi•Pie has $740 549 or 664.04 bitcoins under management.

You can find more information about it in Satoshi•Pie Presentation.



Very cool. It 's always exciting to hear that a fund is splitting up due to being "too successful" in one way or another. Hoping this continues to go well for you and your investors, also looking forward to seeing what you've got planned with TensorFlow.

With so many funds it is difficult to choose which one I want to support.

You made a mistake in the first line of your post, it is not Satoshi Steam but Satoshi Steem :)

Thanks) Fixed it.

It's good to see influential people investing in goodhearted project's like Steemit. It allows anyone, from anywhere in the world to create a good life for themselves if they put their effort into it. Keep doing great work like this and expect great things to happen!

I've been following the project and using the platform. They h've been here for a while. Great team and great project to bring crypto-investment tool to the masses. I support Satoshi.Pie Fund.

ok and where can i invest in satoshi pie

Check our presentation. At the end you will see my e mail.

I love how Steem has grown so rapidly and appears to be so successful whilst being such a new cryptocurrency. Good choice to try satoshi fund to investment.

Quite interesting post. Although many people think they are (too) late, we are still in the infancy stage of cryptocurrencies. One should keep in mind not to be naive and to stay rational and subjective. This new fase has huge potential...

The best time to plant an oak tree was 20 years ago.
The second best time to plant an oak tree is today.

The same mentality very much applies to crytocurrencies.

-One who never stops learning and growing gets very rich.

Always is a good time to plant an oak tree.

But what are you going to do with that oak tree ? It's useless! :)

I love how Steem has grown so rapidly and appears to be so successful whilst being such a new cryptocurrency. The value of Steem has also drastically increased recently as well. I have to agree with how huge the potential of cryptocurrencies is however where some are going to shine others are going to flop. It will be interesting to see how everything changes in the near future.

It will be very interesting where steem is going while bitcoin is going through its halving period. I hope steem holds strong!

Satoshi fund really made a great investment. Congrats!

Thank you)!
Blockchain will change the world!

It's fascinating. can you make a post on how to buy in the fund and what can you do, why do it, etc? basically a sales pitch or users new to blockchain and investment? that would be good!

What would be cool for your investors is too have a read only account in steemit. Where else can investors look under the hood of a real time? I like what you have here.

That's great idea...I'm up for it!

In my opinion not who didn't expect such prompt growth of steem, and he has occurred =)

Помойму не кто не ожидал такой стремительный рост steem, а он произошол =)

Не соглашусь, ребята из команды @creator вполне ожидали рост!

All I have to say is do your due diligence. An eleven page power point on google docs and a .fund website that doesn't load isn't hardly enough information to invest your hard earned STEEM, BTC, $$$ or any other funds.

Not saying this is bad but a post on Steemit does not make it legit. Do your own research!!!

The Dogecoin community got hugely fleeced by a pie scheme.

I would like to get some piece of that pie...

Check our presentation. At the end you will see my e mail.

Investments only in Bitcoins

Diversifying to hedge risk always good. ;-)

very interesting post, all depending on the purposes of the project and the cohesiveness of the community of digital money

good post.. thanks for sharing

при попытке посмотреть презентацию Satoshi•Pie Presentation у меня выдает:
"Требуется разрешение
Запрос на получение доступа отправлен.
Когда владелец документа утвердит ваш запрос, вы получите уведомление по электронной почте.
Дополнительную информацию по этой теме см. в Справочном центре Google Документов."

... у меня одного такое?

I had to vote early on this. I'm looking more into what you do...Is there any benefit for dolphins and whales to join your fund?

Interest idea with a good twist. Good luck.

Interesting innovation. I wonder if we may encounter jurisdictional problems in the future. Specifically regarding the regulation of globally distributed securities .

Wow! Congratulations and it is amazing to see how innovative this community is. In addition to being a fantastic social media platform and source of income, users can now invest - and it's still just a couple months into the beta release.

This sounds like a great slice of pie to own haha

Im dreaming about getting dividends from holding bitcoin,it would be really cool getting some % back out of it hahaha :D
however as i said,its a dream,but really,try to imagine that,having 100 btc lol

Cool idea. Good job and good luck buddy.

very good texting

keep on nice article

I love steem!)) I love world!)) I love my life!)) all success!!))

Cool. Interesting.

Great post! 🙌

I see where you going with this, great job!

i have to say that's impressive
keep up

Interesting article. I didnt know what these were before!

I like how Steem has grown so rapidly and appears to be so successful whilst being such a new cryptocurrency.

Hey there, have you by chance anything to do with Satoshi (as nick) in the NXT cryptocurrency ecosystem? Thanks.

Great, waiting start

Thank you for info. It sounds pretty interesting.

Ok then will see what will change for us... if we will earn anything or not.
#Steemallmylife #Iwanttoberich #Don'tstopmenow

thank you for upvoting my post its 7 USD after your upvote you are awesome man thanks a lot :::big respact

Please, upvote my post if you can
I've spent a half of day writing it and nobody upvotes it(

есть ли информация на русском? или этот сегмент закрыт для нас умышленно?

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Проголосуйте за мои посты, поддержите земляка

So, similar to a hedge fund where people are entrusting traders with their Steem?

I love how Steem has grown so rapidly and appears to be so successful whilst being such a new cryptocurrency. The value of Steem has also drastically increased recently as well. I have to agree with how huge the potential of cryptocurrencies is however where some are going to shine others are going to flop. It will be interesting to see how everything changes in the near future.

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