Bitcoin Forum

Excuse me, is this a project from China? Will there be a bounty or airdrop in the future? Can I register on your website now?

Hello, Fortuna is legally based in China. There is no airdrop, the ICO concluded back in January. An ambassador program will follow later.

it's such a great project, can I join?

You can join our community by clicking on the desired channels posted in the main thread ;)

What a great project this is, will be a major force this year.

The most undervalued project int he crypto space! : )

Really looking forward to the potential of this project. It's the first in the space. Has a great, smart team with business connections. Definitely check it out. Below is Blockchain Brad interviewing the CEO Brian Cai.


https://www.youtube.com/watch?v=98aeQR9-DCQ

reserve translate to vietnamese if you need

Will keep that in mind ;)

Weekly Fortuna News, Issue 008!
"Our Black Friday derivatives platform launch is imminent. The introduction starts with a two-week beta launch in order to make sure everything runs smoothly. Previous participants that joined in the free collection of Bitcoin options can log in the Black Friday platform with their email or mobile number registered at the time of the event and receive their first-issue Bitcoin call/put binary option for free."

Read more at Medium (https://medium.com/@Fota/weekly-fortuna-news-issue-008-3477f30cd48e/)

So your ICO us actually over and this thread purpose is for communicating and discussing this project between the community? Or was it the pre-ico back in January?

Hello holydarkness!

You are correct, our ICO concluded back in January. We have been live on exchanges since the 25th of Jan. The main purpose for this thread is communicating, discussing and to spread awareness ;)

Glad to see you here, guys.

One of my long term holdings.

I'm so bullish about it.

Thank you. We should've made a thread on Bitcointalk sooner, but better late than never ;)

Hello there, I've been following Fortuna for a while now.

I'm wondering; will there be an airdrop in the near future?

Hello Mysterious!

We do not have an airdrop planned for the near future. If we ever do plan an airdrop it will be posted here and on all our other social media platforms ;)

Awh to bad. I would like to get some Fortuna tokens but I see they are only tradable on Kucoin and Coinegg. Will you list on any other exchanges soon? I don't really like the ones you are listed on as of now.

Unfortunately we can't disclose any information regarding exchange listings.

In the interview with Z.T he mentions that other cryptocurrencies might be used as an exchange-medium. Doesn't this make the FOTA token obsolete?

Hopefully this coins will also get listed in other exchange in the future.
Also it will be listed in a well known and trusted exchange.

For now, FOTA will be the only exchange medium on the platform. In the interview Z.T. discussed the option of allowing other crypto exchange medium in the future, he also mentioned the timeline for such a feat would be at least 1 year ahead of today and 'this may require side-chains'By then the platform will have been running for a long while, remember the single-version of the platform is already launching this month. An example of a well-suited other crypto exchange medium would be a crypto published by a government. Theoretically accepting such a coin would of course vastly improve the acceptance of the platform. Rest assured all fees would still be paid in FOTA.

I'm curious about the future plan of this project.
Will there be any kind of plans to held some bounty campaign in the future?

We will announce whenever we will list on another exchange. For now we can't give any information regarding potential new listings ;)

So where did you exactly start implementing your platform? Is this really necessary? Or just another token for trading?

We are working on a bounty program right now. More information will follow later!

Our mainnnet will be live in Q3. The FOTA token is used as a medium on the mainnet, payments for quoters, arbitrators and contract template creators. This along would create a healthy ecosystem for FOTA, especially with the growth of Fortuna’s user base.

Fortuna is an OTC derivatives platform, not just a normal exchange. OTC derivatives on blockchain is a new concept afaik.

Yeah, I'm not really familiar with this kind of platform. So let's see what you've got! If you will survive the crypto or not?

I heard a rumour about listing on HitBTC is this true?

Special thanks to Nacho aka MurkyWaters for another one-pager!
This time it's about The Ecosystem. Checkout the Fortuna Red Paper (https://www.reddit.com/r/FortunaBlockchain/comments/8bnivq/fortunas_red_paper_the_ecosystem//) if you haven't already ;)

If we officially list on a new exchange we will announce it here and all our other social platforms.

I hope they'll survive. So far they've delivered with frequent updates. Time will tell, although I'm very optimistic!

Thank you for your support, it's greatly appreciated ;)

Dear Fortuna supporters,

We are happy to announce that FOTA will be listed on HitBTC (People can top up, withdraw and exchange) today and the 19th of April on GDEX through efforts of our team. Here are the links to both of the exchanges HitBTC: https://hitbtc.com/ GDEX: https://www.gdex.io/  Feel free to check them out. Furthermore, we are also negotiating with other exchanges, rest assured that we will keep you guys well-informed, stay tuned!（FOTA has been listed on KUCoin and CoinEgg before） 

Thank you!
Fortuna Team

Haven't visit hitbtc in a while, last time I heard they implemented this "unique" system where they charge for deposits. Is it true? And if it is, won't it make people quite reluctant to deposit your coin on their exchange?

Great project, nice guys.  ;D

Are you planning to hold a crowdsale for this project and what exchanges will it be listed on?
egretia

The crowdsale concluded back in January, at the moment FOTA is tradable on Kucoin, Coinegg and HitBTC. On the 19th of April we will also be tradable on GDEX!

Enter your questions for the AMA with our CEO Brian Cai!

Please start sharing your questions for Brian in the Google Form, we will host an AMA with him later this month and I'm sure he's very excited to answer questions that were just as challenging as the ones you posed to Z.T.!
https://goo.gl/forms/douesITLDb25jwI93

So the rumour was true! Why couldn't you give me the information yesterday?

We prefer to make an official statement first ;)

Well, I would like to know how this exchange of the ERC 20 tokens will be made for the future Coin Fortuna ?

The ERC-20 tokens will be swapped to the same equivalent of FOTA when the mainnet goes live, which is scheduled in Q3 this year.

Hello everyone,

There is a lot of suspicious activity on our twitter. Please be vigilant and do not fall victim to scams. The Fortuna team will never ask you to send in cryptocurrency or share your private information. We will continue to report these accounts, but take care of your own safety!

Regards,

Fortuna Team

I dont really into twitter, but doesn't an official twitter should have a checkmark or something to show that it is an official account?

These are very difficult to come by nowadays. Twitter no longer accepts requests.

A Letter from Brian Cai（Founder and CEO of FORTUNA) #001



Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!

After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

Why did I create FORTUNA?
Many people ask me: “with so many people focused on speculation, and little real knowledge about blockchain or financial derivatives, why would you want to create Fortuna?’’ In one sentence: To throw a stone into the OTC Derivatives pond and see what happens. If the stone ruffles the water, we should still feel comfortable. If waves start to rise, it will be great. And if earth-shattering disruption starts to take place, the view will be magnificent.

I have been telling others that we are a financial derivatives company that uses blockchain, rather than a blockchain company that has financial derivatives as a topic. Fortuna is not one of those companies holding the Blockchain hammer, looking to find nails to hit. Fortuna is also not a conceptual enterprise that simply replies to the blockchain hype.

Our team includes Bachelors, Masters, and PhD’s from Yale, Oxford, Columbia, Chicago and other top universities in the world. There are also elites from domestic and international large investment banks, top strategic consulting companies, private banks, hedge funds, and digital companies. We can gather together because everyone has a very strong sense of purpose and wants to create some real value in the financial industry. Because the financial industry is not transparent, direct, or fair “Make the World More Transparent” is our internal slogan. We chose to create Fortuna because we selected the entry for financial derivatives as the starting point for our campaign rather than blockchain. Several key points in the financial derivatives market are well-adapted to the blockchain’s technical system and economic thinking. Thus, FORTUNA was founded.

http://i63.tinypic.com/25je1c3.png

Why I chose OTC derivatives?
Before answering the question, I would like to briefly explain the differences and merits and demerits between the “trading pit” and the “OTC trading” of derivatives.

Trading pit
The Trading Pit refers to the ground floor trading you see in old movies, where you can pick up options and futures at a bargain and it is basically all-out war. The advantages of this are that using an exchange that works this way helps control your counterparty risk through their guarantee mechanism and margin account systems. The so-called opponents’ risk is the risk of opponents’ cheating; the disadvantage is that the exchange, rather than the user, decides on the kind of transaction. The same thing goes for the contract terms. More importantly, futures and options on the exchange are standardized contracts, this means that you can’t change any terms or trading elements. These exchanges are simply ‘take it, or leave it’, there is no room for a custom, personal, preference.

This brings us back to the original question, the OTC derivatives market, and why we chose this market as our entry point. First, especially looking overseas, the OTC derivatives market is attracting and mysterious. In 2016, the total global nominal value of OTC derivatives was $483 trillion. Compared to a global GDP of $74 trillion and various other industries, this shows you the immense scale of the global OTC derivatives market. A very interesting market for Fortuna to enter, especially since our home market China is only just beginning to scale up their derivatives market.

http://i66.tinypic.com/55ut1.png

At the age of 26, I began to serve a cadre of divisions of the state-owned bank. Prior to leaving, I was the general manager of the private bank belonging to a state-owned bank. In those two years, I learned about domestic private hedge funds and the derivatives industry. The more I learned, the more I realized that the domestic derivatives market wasn’t perfect. I was born in the year 1988, at that time the National People’s Congress pointed out that: “developing various types of wholesale market trades and exploring futures”, is a potentially huge market. Although so far, all the Chinese derivatives exchanges combined, support only 48 varieties of derivatives (including futures and Intra-market options).

http://i67.tinypic.com/jhriwn.png

A more crucial point is that although there are only 48 varieties in China, adding the fact that there is high demand, the transaction cost is still surprisingly high. According to the data from the 2016 Statistical Report of the American Futures Industry Association (FIA), showing the top 30 derivatives exchanges in the world, three of the four domestic derivative exchanges are listed:

• No. 6, Shanghai Futures Exchange;
• No. 8, Dalian Commodity Exchange
• No. 11, Zhengzhou Commodity Exchange;

In conclusion; this means that the demand is sufficient, even though there aren’t many exports, the transaction volume is still huge.

http://i66.tinypic.com/ogcn5j.png

In fact, the relevant domestic departments are aware of the problem that there are only a few varieties of derivatives. They have also realized that derivatives have a lot of disadvantages compared to standardized products. Hence in 2013, the China Futures Association issued “Guidelines for Carrying out the Pilot Program for Futures Companies’ Establishment of Subsidiaries to Primarily Provide Risk Management Services”. This encouraged all types of financial institutions to provide ‘Over-The-Counter’ (OTC) derivatives such as OTC options to the market. In 2015 the OTC options business entered a period of vigorous development, this was caused by the margin trading of securities. As far as I know, an off-exchange business team consisting of 20–30 people, ran by a securities company, made a turnover of more than 150 billion Yuan (±24 billion USD) for customers in 2017. This shows how hot the market actually is. However, this market has only just begun! At present, only ultra-high-net-worth individuals can participate.


The OTC derivatives market is an OTC market outside of an exchange. It’s a natural P2P trading market and will therefore face several problems:

• 1. How to establish trust between counterparties;
• 2. The cost and time of establishing trust;
• 3. Efficiency issues from combining transactions;

1. The distributed consensus algorithm and asymmetric encryption technology system can largely solve the problem of point-to-point transaction trust. At the same time, the structured smart contract of the map can be directly tied to FOTA to achieve the “decentralized margin system” of the margin account system. This is similar to a centralized exchange, it can keep control of the counterparty risk. Derivatives are automatically liquidated when the smart contract expires. Before expiration, the user can transfer the derivative smart contract for second-hand use.

2. Taking the domestic OTC option as an example; brokerage fees generally charged by brokers can be as high as 6%-7%, which is a very profitable business. The reason why they can receive such high agency fees is the lack of demand for means of connection. This can be solved by traditional Internet and blockchain. Because the two parties wishing to trade often vary there is a lack of trust. At the same time, the OTC market does not have a margin account system and supervision system that is owned by an exchange, so a brokerage firm must guarantee it and collects guarantees. These issues can be solved by using the blockchain technology that uses encrypted digital tokens and smart contract technology.

3. Take the domestic OTC option for example; the contract is artificially combined. The contract is created and signed manually. The maturity clearing is also controlled by people. This labor is very inefficient and does not have any hand-made feelings. Foreign financial IT service providers such as Bloomberg have already solved this part of the problem. Domestic Wind is also entering the market. However, through the traditional Internet and IT methods, only the connection efficiency of the matching and the management efficiency of the internal system can be solved, and the efficiency solution cannot be provided at the transaction level of the contract, including but not limited to contract creation, signing, and liquidation. This is exactly what the blockchain technology solves, as a representative of valuable networks.

Thanks for reading and see you next time!

Brian Cai.

Ok then, here's a little suggestion, as I see that your signature is still blank, as well as your personal text, state your official accounts there, so people can check the valid and real account by matching it with your signatures whenever these fraudsters create a twit, post, or ann

Website rebrand and Black Friday sneak-peek

Dear Fortuna Supporters,

Our team has been working hard to improve the UI and UX of our website and are pleased to share with you that we have just put the new version live. Check it out at https://www.fota.top/
You can also get a sneak peek of our (single-node) Fortuna derivatives exchange called Black Friday. We are currently doing extensive internal testing and are very proud to announce that soon we will launch the beta version!! The exact date will be posted soon.

Fortuna

Thanks for the suggestion, we will look into it ;)

Weekly Fortuna News, Issue 009!
"Our weekly update #009 has just been released. The update will tell you about many exciting things, some of them are the Yale Beijing Center meeting, Lbank competition voting, the developments of the platform and our new recruits."

Read more at  Medium (https://medium.com/@Fota/weekly-fortuna-news-issue-009-1e333b6e9277/)

Dear Fortuna supporters,

We are happy to announce that FOTA will be listed on GDEX today through efforts of our team. You can use GDEX to top up, withdraw and exchange. Here’s the link to GDEX (https://www.gdex.io//)!  Feel free to check it out.

Furthermore, we are also negotiating with other exchanges, rest assured that we will keep you guys well-informed, stay tuned!

(FOTA has been listed on KUCoin, CoinEgg and HitBTC before)

Thank you!
Fortuna Team

http://i64.tinypic.com/2mfiyz7.jpg

Dear Fortuna supporters,

Our CEO Brian will hold an AMA in the upcoming week and I'm sure he's very excited to answer questions that were just as challenging as the ones you posed to Z.T.!

To submit your questions, please fill in the Google Form below!

https://goo.gl/forms/douesITLDb25jwI93

A Letter from Brian Cai（Founder and CEO of FORTUNA) #002

The Long Tail is a Wonderful Business Model

Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!
After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

The Long Tail
Let’s talk about the long tail! — An interesting business model. What do YOU think when you hear the word “long tail”? I think of a new business model that breaks the fixed mindset of the “Pareto principle”.

People usually pay most of their attention to the best-selling products or services that can bring 80% of their income. The remaining long tail (small sales with large quantities of customers, products and services) can only be kept in the statistics manual.

Since the birth of the new business model ‘long tail’, some fundamental changes have been made. The most familiar example is the search engine, represented by Google. They successfully created a brand new long tail advertising market. It was full of twists and turns during a period.

Whether it is paper media advertising, radio advertising, television advertising, or portal advertising, the advertising itself will always play a huge role in a company.

I still remember in the 1990s, one of the topics that would be discussed every year was; who bought the CCTV advertising standard. The price of bidding is hundreds of millions or even billions. It is shocking but don’t forget that this number is the amount of the 1990s. Small businesses and self-employed people, whose sales are not ideal nor have a high frequency of purchases, are unlikely to appear in mainstream media such as newspapers, magazines, radio, television, and portals. However, after the birth of search engines, everything changed!

A traditional media’s contract allocation model consists of core elements such as a layout and a time period, are divided into multiple contracts. A different approach is using search engines to adapt to keyword bidding transaction modes, the long tail and low frequency search keywords. This can generate more than 70% of the total advertising revenue of search engines.

If a keyword has only one visit every six months, but the word has a high conversion rate, it is impossible for a search company to send a salesperson to sell this keyword. The reason for this is that the income is insufficient (sales income does not cover the cost of sales), this can be solved by an auction-trading model. The cost of sales will be almost zero, and the income obtained is almost always a profit. Yahoo uses the contract allocation model to serve more than 2,000 large-scale advertisers. Google, which uses an auction-trading model, has served more than 2 million small and medium-sized advertisers, opening an incremental market completely. This is the biggest difference between the long tail advertising market and the traditional advertising-market. The demand for long tail advertisements has always been there, but due to the reasons such as transaction patterns, marginal costs, and connection efficiency, there has been a lack of a truly effective market to meet these conditions.

Fortuna will pay tribute to Google and create a long tail derivatives market.
http://i63.tinypic.com/wgylgo.png
Our plan is to pay tribute to Google and create a long tail derivatives market. Google’s keyword bidding transaction model through search engines has enabled the needs of more small and medium-sized advertisers to meet the marginal cost of nearly zero. It is impossible for these small and medium-sized advertisers’ advertising budgets to enter mainstream media. The only thing that they can do is advertise by the means of; stickers in a corridor and flyers on the street. Similarly, in today’s OTC derivatives market, many small and medium-sized institutions and individual customers are rejected:

On the one hand, this is the result of insufficient funds. Brokers won’t help you under 10M RMB in China. However, the question is: Is there demand for derivatives of 1,000–100,000 RMB? Obviously yes, they are just like long tail advertisements. Due to the trading patterns and marginal costs, there has always been a lack of an effective market to meet these needs.

On the other hand, it is because their qualifications are not enough. I mentioned in my letter “Throw a Stone into the OTC Derivatives Pond (in 483 trillion U.S. dollars)” that although the OTC derivatives market is rich in products and the contracts are flexible, there is no corresponding guarantee mechanism and margin account system. Therefore, the traditional OTC derivatives market is basically based solely on the credit of individuals or institutions. At this time either you have a very good qualification and belong to state-owned companies, listed companies, large private companies, ultra-high net worth investors, or you find a good guarantee agency, which you pay a 6%-7% guarantee fee. The qualification threshold of the former excludes most of the individual investors and small and medium-sized institutional investors. The latter is costly and, more crucially, such a guarantee institution does not accept small businesses. High guarantee costs and high capital thresholds will also reject most individual investors and small and medium-sized institutional investors.
http://i63.tinypic.com/2cdcnqb.png

What should we do?
FORTUNA will reshape the OTC derivatives market based on the blockchain’s technology system, core concepts and provide everyone with a long tail derivatives market.

1. Realize a fully decentralized derivatives trading platform.
To achieve a fully decentralized derivatives trading platform, all the derivative contracts are designed and initiated by users, so that market demand determines the market supply, rather than the dictatorial decision of the centralization exchange. Thus, everyone’s right to speak and use are equal.

2. No financial threshold and qualification threshold.
Through the Smart Contract and the Utility Based Crypto Token mechanism, the counterparty risk can effectively be controlled and a value-based trading network with zero confidence establishment cost can be established. Bid farewell to the capital threshold and qualification threshold. As long as there is the counterparty, any amount of the contract can be reached to achieve a truly inclusive market for derivatives.

3. No need for any transaction fees
In the state that the entire distributed network node is operating autonomously, Fortuna won’t charge any transaction fees as a blockchain platform. All forms of fees will be charged by nodes in the ecosystem that provide various types of services, such as Delegate nodes that provide block services, Quoter nodes that provide quote services, Market Maker nodes that provide market-making services, and CoT Maker nodes that provide contract template design services. In other words, the platform does not make any money. All profits are attributed to all the nodes that jointly build our ecosystem. All community members can apply to become all of the above types of nodes.

Thanks for reading and see you next time!

Brian Cai.

when will it get listed to big time exchanges like binance, huobi, upbit, etc?

We are still negotiating with with the top tier exchanges. Unfortunately I can not disclose any information about them ;)

Thank you!, your support is greatly appreciated ;)

The Official Launch Of The Fortuna Website 2.0 Is Live!

Everything is changing and so is Fortuna. We are happy to announce that our new website is online, but also that the Black Friday platform has opened for public beta testing since Friday 27th of April 2018 at 10:00 PM (UTC+8). Additionally, we will soon launch a Fortuna Mobile app!

Read more on Medium (https://medium.com/@Fota/the-official-launch-of-the-fortuna-website-2-0-is-live-c8d391a6e9e6/)

Thank you!
Fortuna Team

Weekly Fortuna News, Issue 010!

"Let us tell you about the product strategy of our upcoming Black Friday platform, about the new talent that we have recruited for our Quantitative and Technology Department, our presentation at the Ruian Standing Committee of CPPCC, the recruitment for our Angel program and much more!"

Read more at Medium (https://medium.com/@Fota/weekly-fortuna-news-issue-010-7f1b1b241e97)

Weekly Newspedia, Issue 001

Last week marked the start of Fortuna's weekly newsoutlet: Weekly Newspedia.
The Newspedia will cover news applicable to Fortuna on the following subjects: (I) Industry Information, (II) Finance + Blockchain news and (III) news on the Derivatives market.

Read more at Medium (http://bit.ly/2KdF7hh)

Thank you for the information, I think this project has a bright future. I will watch the progress and hope you’ll achieve your goals

Lol, typical spammers. Which goal? ICO? They've finished that months ago. You don't even read the first page, do you?

Have you checked out our Black Friday derivatives platform? You can check it out here! (https://blackfriday.fota.top/#/home/)

Please mind your language! We're still negotiating with bigger exchanges ;)

FOTA looks for a gap and continues to grow in order to enter a big market, Fortuna team strategy is very good, worthy to keep growing, I applaud with your strategy.

The project plays a derivative role or, in other words, the role of a third person. The cryptographic market wants to become the future of the financial world that needs these services. I think it is very potential and will be well received when PrC users do not need any fees for the agency and can benefit from the newly generated derivative transaction volume. But are the costs also called low when they pay for each fee to own different services?

Thank you Horas, your support is greatly appreciated :)

I actually sees the team as some people worth mentioning, as they actually already finished their project, it will be safe to say that they are here purely and completely to be in touch with their community, which is mostly what other ICO project lack of these days. Most project will disappear once their ICO finishes. But they open their thread after the ICO.

The fees are calculated by the platform based on the service provided, i.e. a highly volatile asset will be slightly more expensive to value lock vs a very stable one. Fortuna's quantitative library is one of the core features of the product, and is created purely to back this balancing act!

Thanks for you support! The reason we are here is mainly to spread awareness and to inform those who are inactive on other platforms but are active on BitcoinTalk :D

We do our best to update and inform everyone as best and frequently as possible!

https://youtu.be/lbxWl-XG228

Hey Guys, I created a video on how to use the Black Friday platform! Check it out. I will be creating other informative pieces on Fortuna in the future.

Thanks Murky this looks really good! It's great to see our community incentivize these things :D

A Letter from Brian Cai（Founder and CEO of FORTUNA) #003


Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!

After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

The comparison
Our project is called “Fortuna”, and this refers to the goddess of luck in Roman mythology. If you happen to be a fan of Carl Orff, you must be familiar with “O Fortuna”. A beautiful song and a timeless classic. The abbreviation of our project and the name of our token is “FOTA”. It has often occurred that a comparison is drawn with IOTA when we first tell the name. On occasion, people have even jokingly compared the names and made the remark that we should become the IOTA of the financial sector and use the comparison in names to attract attention. We think that is a great idea!

We will fully exploit the possibility of comparing ourselves with the giant that IOTA is this very day: a big tree, made of fine materials and full of weight. Here we go: firstly, FOTA begins with the letter F which refers to the financial world. Secondly, IOTA’s pronunciation requires three syllables and FOTA only has two. In conclusion it should be easy for the reader to spot that FOTA is thus easier to pronounce, more pleasing to the ear, and requires a bit more ink.


To be honest, if we think about the “FOTA becoming the IOTA of the financial world” joke, or the FOTA will be “everything in the financial world” proposition, we find the idea quite significant.
IOTA wants to be the “connection of everything” and to be this ultimate manifestation in the financial world, people worldwide must be able to freely trade and exchange various kinds of financial assets. Trading of course already happens on a large scale, and with it we have seen many difficulties arise. Blockchain technology can solve many problems, such as the problem of trust and efficiency, however the blockchain technology currently is incapable of solving the problem we refer to as “chaining of assets”. What I mean is, eventually with a well-developed blockchain infrastructure, asset registration and circulation it can become a very convenient and efficient trading platform / redemption market. However, it needs better adoption by businesses to get to that stage. Until then it will be difficult to digitize assets and exchange them on-chain.

A good example would be real estate. Real estate transactions are still based on real estate licenses and therefore no distributed community can chain real estate licenses without external cooperation. Another example are stocks. Stocks are still based on securities registration and settlement agencies, and therefore no distributed community can chain stocks without external cooperation. So, the difficulty lies nót in ensuring there is a trust mechanism and there is transactional efficiency in the chain of transactions, but in the how.


If we take a closer look at the goal of asset trading and analyze it in detail, you find that people purchase assets only for two purposes: one is to use (i.e. a house) and the other is to invest. In the field of asset transactions, “investment” is more important than “usage”.

Derivatives are price contracts derived from basic assets. This contract is based on the future purchase or sales price of assets. When you purchase a derivative the only thing you need to do to increase value is to correctly judge the direction of the price of the asset. You do not need to hold or deliver the physical asset. For example, if you are optimistic about a hard-to-get stock and feel that the value will rise in the next three months you can use FOTA to buy a call option or forward linked to this stock. Without owning the stock, you can still make a profit if the price moves upward or downward depending on the type of derivative contract that you have purchased. Most asset transactions are based on price forecasting like this. As a blockchain facilitator for OTC derivatives transactions, Fortuna can thus open free trade and exchange in all areas of financial assets at this price contract level. Due to the nature of the Fortuna blockchain platform, all physical forms of basic assets do not need to be digitized and chained. Instead we exchange contracts that are negotiated for future trading prices. Determining the profit and loss depends only on the outcome of the future prices.

From this perspective, FOTA has avoided the biggest bottleneck in bringing assets to the blockchain. To return to the IOTA / FOTA gimmick. Until all asset classes in the world have been completely covered and infiltrated by blockchain technology, FOTA may be able to achieve the “connection of everything” in the financial world and it will be the IOTA of the financial world.

Thanks for reading and see you next time!

Brian Cai.

Weekly Fortuna News, Issue 011

It has been a busy week! We have worked overtime to launch Black Friday, have again taken on new talent to join the team, attended the China Bond Club 2018 meet and have been working hard on the development of our Fortuna Platform.

Read more here: https://medium.com/@Fota/weekly-fortuna-news-issue-011-1cc8921852c8

https://cdn-images-1.medium.com/max/800/1*gcK4CM3wujZTLvHwE5s3Eg.png

Thank you :D

How many percent of the total number of tokens will be allocated to the rewards for the company's bounty competitors?

There's no certain percentage. It all depends on how many people the Hunting program attracts and how many tasks they'll be finishing during the event.

Dear Fortuna Supporters,

Exciting news! 🚀🚀 To celebrate the launch of Black Friday we have now launched the FOTA Hunting lobby! Make sure to invite all your friends to participate.

Join our telegram group by using the following link: http://t.me/FOTAhuntinglobby and earn FOTA.🚀🚀
In this telegram group you will find all the weekly tasks.

Please send proof of participation to @fortunaadmin on telegram!

https://imgur.com/a/iKs1fTl

Looking forward to your participation!

I am very excited about your project. Good luck and success.
Egretia

Thank you very much! We wish you all the same on Egretia!

i was quite convinced by the project...just really wondering about the low activity here in this thread^^ well i guess chinese use differnt plattforms..
egretia

It is mainly because we opened up our thread after the ICO and like you said; we have a lot of Chinese supporters that do not use BitcoinTalk ;)

Finally the bounty program is live, after 4 weeks of hinting at it:P. Anyways nice image, just wish it was a little bigger.

We had our focus on the release of Black Friday ;)

Hi team admin. nice for this project.  :)
I see following at BTT, wow its dev active at forum and the post news fortuna.
And we be holder for Fota Token.  8)

Thank you for your support! We only started to post on BitcoinTalk after our crowdsale had concluded and our Black Friday release was finalised, hence we try to update on BitcoinTalk as frequently as possible :)

 ;D ;D

its FOTA base on protocol 0x and nope to use implement for PoS/pOw? right 

wow great news today  :) this bounty release for celebrate platform within blackfriday.
by the way... what is black friday is the markets exchange?
when the launching black friday?

Our Black Friday derivatives trading platform launched in Open Beta on the 27th of April. To check it out Click Here (https://blackfriday.fota.top/#/home/). A community-made guide can be seen Here (https://www.youtube.com/watch?v=lbxWl-XG228/)!

Feedback is greatly appreciated! Thank you for your support ;)

Hello cool that you have a bounty program running! I got a question though, what is DPOSA? I have only heard of DPOS.

Hello Ninja, you can read more open DPOSA Here (https://www.reddit.com/r/FortunaBlockchain/comments/8db38t/fortunas_gray_paper_the_consensus_algorithm_dposa/). Let me know what you think :)

ALL OF THEM! :D

Fortuna's 'NOT so Cyan Paper': Contract Life Cycles

http://i68.tinypic.com/14av7tl.jpg (https://redd.it/8hcake /)

Thank you Murky! I will reply so it saves people a click;D

Using the FOTA black friday platform but unable to verify and withdraw.  there is an error with uploads.  can you please address this asap?

the more that provide support and positive feedback about this project, and I think this project is indeed promising, and no doubt if this project could later give a great result.

Thank you for your feedback. This is very valuable to us we will use it to improve our Beta platform!

 
Hi team, after launched (blackfriday) 27th May.
Do you have support add listing token in market exchange?
Sorry... what’s name your exchange?

Thank you for your quick response to feedback!  I will be checking regularly the Black Friday platform and will send you another note if the issue is not resolved in a few days :)

We want to receive feedback from as many people as possible so we know where to improve. Since the BETA launch of Black Friday we have received a decent amount of feedback and already made some changes to the platform! :)

Your support is greatly appreciated! :)

A Letter from Brian Cai（Founder and CEO of FORTUNA) #004



Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!

After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

Can you tell me something about the direction blockchain is going?

Whenever you ask someone if they know bitcoin, the answer is yes, however many are unaware of blockchain and many of the other coins and tokens. Sometimes, talking to people outside of the blockchain industry feels like talking to “Muggles” from the Harry Potter franchise. They are not fully aware yet of the magic in our world.

 
However, in the past two months, more and more people around me started showing interest in ‘digital currency’. I also realized that the people started to believe more and more in the success of the blockchain technology. Today I’ll talk about how I turned into a blockchain “believer”!
My first experience with blockchain was in 2013, I wanted to do an Utransfer project for Transferwise. The Utransfer project primary goal was to use the Internet to solve the problem of excessive cross-border exchange costs and too slow efficiency.
 However, after communicating with the related departments at that time,
 it came to light that this type of business could easily be characterized as an “evade foreign exchange control” (2013 RMB internationalization was not yet a major development strategy and foreign exchange control was very strict). Thus, the project never started.
At that time, I noticed that a technology company named Ripple was listed at MIT Technology Review. Ripple used blockchain technology to solve the problem of cost and efficiency of cross-border payment. After that, the story must have been fully understood. Ripple is already the third largest blockchain project in the world. From that time on, I started to learn and understand the blockchain. As I was engaged in the financial industry, I became more aware of the blockchain industry. I began to really realize and recognize the blockchain and the value of blockchain’s Killer App “digital currency”.

The phenomenon of “rent-seeking costs” and “low efficiency” in the financial industry is too common. In a big jargon, it is “taking a lot of money, things are done slowly,” and the blockchain is not so much a subversion as it is an improvement. The degree of centralization is gradually weakened, allowing more people to “pay less money and do things faster.” In terms of space, I only share one case today: Commercial Bank (a form of modern credit organization-the most mainstream financial intermediary that is close to people’s lives), and its core business model and disadvantages.
“The economic crisis is an inevitable product of the capitalist system”

In our childhood, the teacher taught us: “Marx said that the economic crisis is an inevitable product of the capitalist system.” However, as I grew up, I discovered that there are also economic crises in socialist countries. In fact, there have been about 60 economic crises in the history of mankind. Originating in the credit market, stock market, foreign exchange market, commodity market, etc. All are closely related to the proliferation of liquidity. The most important two ways of the proliferation of liquidity are M0 and M2.

The most basic business of commercial banks are deposits and loans (internal banks call it debt and asset businesses). However, how many people carefully considered the core difference between deposits and loans?

What is a loan?
In short, it was the bank that gave me a sum of money. Over time, I returned it with interest to the bank.

What is a deposit?
In a nutshell, it was me that gave the bank a sum of money. After a period, the bank returned it to me with interest.

Repeat the paragraphs mentioned above and you will find that, in addition to the different direction, the two are almost the same. In essence, A gives B a sum of money. Over time, B returns it to A with interest. So your deposit is actually not a “deposit”, but your loan to the bank. Therefore, your deposit appears as a “liability business.” in bank’s view.
This business model may be one of the most intuitive and close-to-life sources of economic crisis from your side: commercial bank credit expansion.

“Interest” and “deposit” are incompatible

A long time ago, some wealthy families had hidden a lot of gold bars in their homes. To keep their gold safe they decided to buy a safe. They bought safes that were too big to house all the gold.

 
As a result, they began to accept the trust of their friends to keep their gold bars and charge some custodial fees accordingly. This resulted in the birth of earliest form of a “bank.”
What are the responsibilities of this rich group with safes? They had to take care of the gold bars and keep them safe from others. What kind of fees did they charge? They charged safekeeping fees for housing the gold bars.
Currently we deposit our monthly salary in the bank. Have you ever thought of giving the bank a custodial fee? On the contrary, the bank will pay you interests, and you will take it for granted. Why? Because everyone knows that the bank will take out deposits to lend out and make profit. This is the bank’s financial intermediary position and core business model.

Have you ever wondered whether the business model and the custodian’s responsibility are inherently contrary? Will you take your family’s sapphire necklaces in custody and allow others to use them casually? So why did you give your salary to the bank, knowing the bank would lend it to other? The answer is because the law allows it, and you are used to it.

The law allows banks to use the “law of large numbers” to make money. Banks feel that it is not necessary to leave all their money in the safe as they are, because it is unlikely that everyone will be able to withdraw everything on the same day. Thus the bank is able to take a portion of the deposit to loan. What is the difference between this and “fund misappropriation?” Actually, there is no difference between the two. Historical governments have legitimized this fund misappropriation through a “fractional reserve”. This “legitimate misappropriation” is the basis for the development of the bank and is also a feature of modern credit organizations. It’s also one of the root causes of the economic cycle.
In our final analysis, if you think about it really thoroughly, you will find that interest and savings are out of tune.

As stated in the Introduction to the Business World:

“Bankers, Greedy Gluttons”


As a profit-seeking company, obtaining the privilege of legally misappropriating funds, the bank’s profitability will inevitably cause it to continuously absorb and lend. This is where the economic cycle starts. (this is the reason why various governments set up banking supervision departments). Because the bank’s lending activities are essentially a kind of currency creation behavior (money misappropriation), especially the lending of current deposits.

It is not the same as an investment. When you invest 10,000 yuan in cash to a company, you think that the company has 10,000 yuan in cash, but instead you have lost 10,000 yuan in cash, and some more equity. But when person deposits 10,000 yuan in cash in a bank, he may think that he still owns the 10,000 yuan, and he can withdraw it at any time. Immediately after the bank has already lent his 10,000 yuan to others. The borrower who got the bank a loan of 10,000 yuan also thinks that he already owns the 10,000 yuan. Therefore, at the time of lending, the world has somehow added 10,000 yuan “virtual currency”.

But this is not where the cycle ends. After the person who borrows 10,000 yuan pays 10,000 yuan to others, it will be re-deposited by another person to the bank for 10,000 yuan, and the bank will use it to lend again. Again the world has an additional 10,000 ”virtual currency”. This is the money creation ability of the so-called bank — the money multiplier.

It is exactly this credit expansion lacking savings that has consisted of the fundamental reason why our economy is in a cycle between prosperity and recession in the light of false prosperity, because credit expansion is bound to end with the credit crunch, just as people have joys and sorrows.
In fact, until Cipolla’s Florentine Monetary Policy in 14th century came out, people gradually realized that there was another kind of “virtual currency” in society, that is, M2 we are now familiar with.
From this point of view, take a look at the core value of Killer App “digital currency” in blockchain, I think it will be particularly interesting.

Thanks for reading and see you next time!

Brian Cai.

What error are you seeing? Can you contact me on telegram @Murky_Waters

Awesome read! We appreciate you taking the time to write this. It is sad to hear that Ripple introduced you to blockchain  ;D ;D

Everyone started somewhere :) when did you get into the scene Murky?

Hey Nacho, just sent you a message!

An exciting and inspiring story for everyone that this blockchain world has a great chance.
Fortuna becomes a platform that will privide space for the more developed blockchain.

Thank you Aurellio, your support is greatly appreciated! ;)

A couple observations/suggestions after 1.5 weeks of trading on BlackFriday platform:

1. I really enjoy the Account page where you can see all of your positions and the estimated profit/loss at any time, tied to the price of BTC.

2. I wish we could enjoy some more charting features instead of just the 1 month, unless I am just bad at charts and cant figure out how to see daily view.

3. It would be great to be able to see past trading history.  This is the most important thing for me I think.  For example on May 4th when the first round of options expired, I was able to see my gains (pretty sweet), but could no longer see the positions I took in the first place.  The Account page seemed to reset which was alarming at first, until I checked my balance.  Would be great to be able to see past trades, as well as OVERALL gains rather than just the profit/loss in any given week.  Being able to export past trade data would be great too.

4. I think it would be super cool to be able to save some strategies that have worked for you in the past.  For example, maybe I bought 5 call options that were furthest OTM, and 2 put options ATM.  Would be great if I could quickly replicate those trades again (just a thought)

5. When actually purchasing options in the Trade tab, it's kind of buggy typing in the option price. for example if you type ".645" for the price of the call, it autocorrects to 645 unless you put a 0 in front like "0.645".  I have learned this, and its fine now, but it was something I had to get used to and less intuitive.

6. Any insight into the profit mechanism would be helpful.  For example, if your options expire in the money is it a 1.2 x # of options payoff?  If they expire OTM do you just lose the price of the options or is it magnified?  Not sure if this is proprietary but the more transparent the better.

7. When I am making money on Black Friday, who is losing money (I know this is just a test phase and it wont always work this way)?? Are we just increasing the FOTA supply and issuing new coins here? Wondering if that could be the reason for the slight dip in FOTA value over the past week or so.

8. As my option portfolio value increases, it does leave me exposure to the price of FOTA.  Will be AWESOME when we can use a few more currencies.

Overall I've enjoyed the platform and the nice lil gains.  No response necessary, just my thoughts for your consideration.  Thanks!

Weekly Fortuna News, Issue 012


Dear Fortuna supporters,

Please find the weekly edition of Fortuna News below! As always, thanks for being a great community, and enjoy the read!

Founder Brian Cai’s Foreword

Dear Fortuna Community,

I want to take the opportunity to address some things in this weekly update.
We have recently released the Black Friday platform and received a lot of feedback. I want to be clear that the Black Friday platform is only a testing platform. We use it to collect valuable data and users’ feedback, it is not an official version. In fact, from the domain name blackfriday.fota.top, it can be seen that Black Friday is only a transitional test version. Actually, this was mentioned in my forewords and weekly Fortuna news;

Secondly, I’d like to emphasize that since Black Friday is a test platform, most of our attention is spent on the development of the main network and the quantitative resource database of Fortuna. After the completion of the quantitative resource library, many more tools will be available. If we combine that with the feedback on the Black Friday platform we will have all we need to launch a formal version with high performance, high availability, asset security, sufficient mobility, and rich products, so stay tuned!
 
Thirdly, we have been recording weekly news video’s (see the links at the bottom of the page), but will switch to a slower rythm such as a monthly video, or a video once in a while, instead. We are making this change because we felt the results were not satisfying for the amount of effort we put in. In the future the video’s will capture interesting information on topic such as the R&D progress, product strategy and business plan and will be explained by the people who are in charge of these business segments.

-Visual FORTUNA-

You can check out our Fortuna Behind the Scenes #012 Here (https://www.youtube.com/watch?v=bkaSIOcUSVk/).

Technology Research and Development

• Decentralized Fortuna Platform: The minimum runnable version (called FirstBlood) of our multi node platform is undergoing testing and the multi-node connection has been approved. The requirement for Double (the improved version of Firstblood) will be reviewed this week and going into the official development phase next week.
• Single-node Version Black Friday Derivatives Platform: The first week of the Black Friday public beta is over. The first weeks options were settled at 14:00 (UTC time 6:00) on the 4th May, with a grand total of 23,774 options sold. Thank you for your participation!
  We have now launched the second phase of beta testing and users who previously participated in the free gifting activities (on the 8th of march and 14th of march) have received a coupon for free options. If you haven’t received yours: please check your e-mail and text message inbox. The option to redeem the free option’s will be closed at 14:00 on Friday (May 11th). Once beta testing has been completed there will be one week for bug repaid and system optimization. So be sure to send in your feedback! We look forward to it!
• Fortuna community BBS: This week, the final draft of the design was passed, the technical plan was confirmed, and the development phase began.

Quantifying and Modeling


Stepping up to implement the basic Monte Carlo module, Monte Carlo is an important tool for quantifying wind control and calculating many other parametric scenes;

Completion of other relevant modules to achieve quantitative risk control such as Expected Shortfall and Value at Risk;

At the end of last week, the deployment of a backtest code for an artificial intelligence strategy was completed, and its trading model was tested by using several different sets of stock data.

Marketing and PR

• Manage, activate Chinese and English communities, and answer community questions about Fortuna;
• Chinese bounty mission statistics and other ancillary work;
• The official fan group plus the task lobby carry out “Fortuna’s questions”;
• Invited the Fortuna hunter leader to join in the first issue and interview him;
• The adjustment of the English version of the hunter program poster, the writing of the reward rules, the announcement of the new Hunting Lobby, the release of the reward task, and the statistics and evaluation of the hunter task completion and reward;
• Black Friday platform’s BUG problem collection, information summary; black friday pages of Chinese and English version optimization; black Friday novice guidelines revised;
• Send Mail/SMS messages containing a coupon earned during the International Women’s Day / White Valentine’s Day activities. The coupons can be redeemed for Bitcoin Options;
• Published English articles on the Fortuna Official Bitcointalk account;
• Exploring and creating Fortuna’s Wikipedia;
• Community BBS page, discussing the UI, final review and approval, self-built background function collation;

Talent Hunting


A total of 81 resumes were reviewed this week. 15 were interviewed. The details are as follows:

• Technology Department: 58 recommended resumes were reviewed, 8 interviews, pending decision.
• Product Department: 7 recommended resumes were reviewed, pending decision and 1 admitted.
• Quantitative department: 6 recommended resumes were reviewed, 5 interviews and 1 admitted.
• Operating Department: 10 resumes were reviewed, 2 interviews and 1 admitted.

Internal Compliance

Bump

Where is all the money?

Over the past last decade, the velocity of money has decreased as money doesn't change hands as quickly as it did in the past.  How is this possible with decent growth around the world and technological improvements?  Concurrently the gini coefficient has widened dramatically and the rich are getting richer, hoarding money, while the poor are get poorer.

Why does this matter?

Central banks (the bank that lends to the banks) print money out of thin air and this erodes the buying power of the people.  Why? because ultimately these dollars slip into the economy and push the price of goods up.  Venezuela is a great example of hyper-inflation.  This isn't too terrible if you are already wealthy, as you could find investments globally and live off of interest alone.  The average guy must work/hope for a pay raise, as costs increase indefinitely because of fiat printing.  Higher cost/price means more tax revenue.

So what can we do?

Find a sound currency, one that doesn't print money continuously.  Welcome! “virtual currency”.  Once a virtual currency (fixed supply Virtual Currency) is widely adopted, value will increase indefinitely as central banks print money.  The virtual currency will be a storage of value but when needed, this virtual currency could be exchanged for fiat to do business or buy goods if necessary.

The Future of Banking?

So in the future, some people may store their money at a bank while others may use a wallet with a basket of virtual currencies.  The future is at our fingertips.  

Very interesting read! You're support is greatly appreciated!  ;D

Love this new Bounty Program!

Love to have you on board!  ::) ;D

yeah I saw that, but better wait a day or two and see what the market will do but it is almost impossible to guess

Do you plan listing to a new exchanges (like, Upbit or Bithumb, for example)?

If yes, please, say when?

Thanks.

Hey all,
would you still buy FOTA for the current price?

What do you think will the price be at End of 2018,2019 and 2020?

I am not shure, if i should join.

Thanks!

Hi Dianas,

I think FOTA is a good buy right now.  I wouldn't get too caught up on what the price is today, tomorrow, or at the end of each year. 

The price right now is 5 cents USD but the Fortuna trading platform is still in testing phase.  We won't know how much FOTA is worth until the main platform is launched in Q3 (or beforehand).

If the platform is successful, there could be a huge wave of traders who buy FOTA to trade derivatives on the platform (it will no longer just be speculators like you and I but actual traders who use FOTA to set up their positions and manage their risk).  A huge influx of traders into a relatively small coin could be massive.

I can't quantify it now, but I would focus on the underlying technology Fortuna is working toward.  Check out the test platform here: https://blackfriday.fota.top/#/home

We do indeed plan to list on new exchanges, however we can not conclude any information as per exchange requirements ;)

Black Friday needs to be configured for mobile usage. 90% of people checking this out are on phones or tablets!

Nicely worded! Your support is greatly appreciated  ;D ;D

It will be in the future! This early version is for testing functionalities!  ;D

AMA with Brian Cai

Our CEO Brian Cai was interviewed by Informance.
The questions were submitted by the community prior to the AMA.

Enjoy! (https://youtu.be/WmYGE4_9eB8/)

 
I like the project with the concept of mining, but to get bigger profits must use tools, and requires considerable electrical energy.
whether this project is the same as other mining projects

A Letter from Brian Cai（Founder and CEO of FORTUNA) #005

Hello everyone! My name is Liangbin (Brian) Cai, I’m founder and CEO of FORTUNA. I’ve started a series called ‘Founder Blogs’ to share some of the ideas me and my team have, that do not fit anywhere else. Welcome!
After graduating from Yale University, I won first prize at the International Mathematical Contest in Modeling. I worked in various segments of the financial industry all around the world (New York, London, Hong Kong, Shanghai and Hangzhou), in the fields of investment banking, supply chain finance, Anglo-American law trusts, civil law trusts, and private banking. At the age of 26, I was able to work my way up in a state-owned bank. Prior to leaving, I was the general manager of the private bank and was responsible for over 30 billion in assets. After these great experiences, I decided it was time for something new, something bigger. That is when I founded Fortuna.

Update

Many friends have asked me what I am doing recently. It seems that they haven’t heard my voice for a while, I have been working tirelessly and have not been able to tell them about Fortuna yet. That is also why I originally chose to write “A Letter from Brian Cai（Founder and CEO of FORTUNA)”. To keep everyone up to date on what is going on.

I would like to start out and say that we have been very busy recently. Busy with building products and recruiting people. But especially with achieving the goals we had set for ourselves to be completed per the first quarter: the design and development of FORTUNA’s derivatives trading system of single-node version.
Why will we start with a single-node version of the derivatives trading system (and not with a multi-node mainnet)? I am happy to share this with you and get a little technical:

Excellent methodology with both mobile internet and blockchain

The most powerful methodology of the mobile internet is the A/B version test. This simple and crude method was born in the mobile era and enables a company to try different versions simultaneously and compare results. It is a type of experimentation that is short, frequent, and fast. This methodology has become notorious for pushing out traditional companies that were focused on one-year-version updates.


One of the most important features of blockchain as an autonomous and self-managed distributed network is that it cannot be tampered with. Data can’t be tampered with, rules can’t be tampered with, and this means that many mobile internet era’s methods are not fully suitable for the blockchain domain. How to better inherit and use the excellent methodologies and tools of the mobile Internet? Personally, I think that using a single-node version as a trial and leveraging the rapid verification and continuous trial-and-error methodology can be very beneficial before publishing a fully distributed main net version.

Data formatting and risk control modeling

Some of the core components involved in managing derivatives are the risk control and pricing models. These models are so important that they are said to determine the survival of the investment companies that make derivatives their main business. Because of the quantitative complexity, the core of the derivatives-related companies is usually run by experts from the quantitative fields. After the subprime mortgage crisis of 2008, the quantitative risk management department and the model validation department started to play an increasingly more important role in many large organizations and hedge funds.
To attune the quantitative models, it is important to have real historical data. So, how can we quickly accumulate historical data? Using a crawler is one method. Self-done accretion is another method. A single-node version of a derivatives market will become a great business data accumulation method. Just like our Chief Product Inspector Z. T. said, “Sooner or later, the digital currency space will also become a data processing and service company akin to Bloomberg. Given it’s bound to happen, why can’t it be us?”

Environmental Construction and Investors’ Education

In the past China’s derivatives exchanges had derivatives that linked to stocks, such as options and warrants. In 2005, the Chinese market had launched seven additional stock-linked warrants (similar to derivatives such as stock and options). It is said that at that time, relying solely on the trading volume of these seven warrants, China ranked first in the world in terms of trading volume of stocks and warrants.
However, due to the failure of investors’ education at that time, many investors did not know that warrants should be exercised on the exercise date. Many investors did not exercise their rights before the expiry of the exercise date, resulting in zero value of these warrants once they expired. This led to many unfortunate incidents.
Fortuna’s (single-node) derivatives trading platform will prioritize beneficial and simple derivatives: ‘Option Iron Butterfly’ and ‘Binary Synthetic Option’ based on mainstream digital currencies, and all options will have an “automatic exercise” mechanism that will be set up to avoid unnecessary trouble for investors.


In summary, designing and developing Fortuna’s single-node derivatives trading platform is not only an explanation of Fortuna’s vision, but more importantly the overall strategic deployment of Fortuna’s product. As I often say, the “technology roadmap” is very important. Promises and commitment are very important, but the most important thing must be the team and making the business tangible. Otherwise, all this is just a game of “weaving bubbles and dreams together”, leaving codes but leaving no productivity, creating memories but not making sense.
In fact, the success or failure of a business often depends on the first ten people who joined the company. The advantage of starting with a small team is not in being small, but because you can choose members.


I remember an analogy from the book “Hackers and Painters.” It roughly says that big companies are like giant ancient Roman warships. One thousand crew members paddle at the same time to make the battleship go forward. However, there are two core factors that make this giant battleship unable to be fast:
Firstly, nobody notices that their efforts to paddle makes the battleship move faster;
Secondly, the speed of battleships depends on a thousand people, which greatly averages individual efforts and achievements.

Ancient Roman Battleship

If you select 10 people from a thousand people to make a relatively sized boat, it will move faster than the battleship itself. It will be faster, because working hard is encouraged, and inactiveness is discouraged. The boat is a cooperative park and athletic field that is naturally suitable for the survival of the fittest.
At this point Fortuna has only existed for three months. As you can imagine this is a very short time spent for a project, let alone running a company. We have grown rapidly during this time and I have spent the most time and energy in attracting like-minded and talented people to join the party. I believe that this is one of the most important things in the development of Fortuna.
Fortuna has now gathered a small group of powerful “fans” in their respective fields (blockchain technology, financial derivatives, trading systems, business operation, etc.) and together we are making progress very quickly. This is one of my happiest and proudest experiences.
Thanks for reading and see you next time!
Brian Cai.


Follow us on social media:
Telegram: www.t.me/FortunaGlobal
Twitter: www.twitter.com/FortunaBlockch1
Reddit: https://www.reddit.com/r/FortunaBlockchain/
LinkedIn: www.linkedin.com/company/fortuna-blockchain/
Website: www.fota.top
Facebook: www.facebook.com/fortunablockchain/
Email： hi@mail.fota.top

To learn how to use the BETA version of Fortuna called Black Friday, check out this video! (https://youtu.be/lbxWl-XG228/)

I like the idea of your project. But I'm curious what benefit the blockchain would have for a project like this?

How will Fortuna continue to reward users and maintain customers after the initial product launch in Q4? Will they offer airdrops or any discount on trades for the fees which people need to pay to use the product?

Hello etopster!

FOTA has many other utilities such as payments for quoters, arbitrators and contract template creators. This along would create a healthy ecosystem for FOTA, especially with the growth of Fortuna’s user base  ;D

Hello everyone! ;D

Check out this article written by one of our community members to get a better understanding of our OTC derivatives trading platform "Black Friday" (https://blackfriday.fota.top/#/home/)

Check the article out here! (https://medium.com/@nicolasammann/blackfriday-guide-7e343d62a817/)

Congratulations for your partnership with University.

I bought FOTA at 20 cts and Now I hold. Project is great.
Your team is very active.
I think that the regulation could boost your project

Thank you, your support is greatly appreciated!!  ;D ;D

Dear Fortuna Supporters,

Exciting news! Fortuna is launching ETH underlying options on our Black Friday platform! Additionally, the Black Friday platform now has a Chinese and English version.

We will start launching new options once every two weeks. Make sure you stay tuned.

Enjoy using our Black Friday (https://blackfriday.fota.top/#/home/) platform!

Fortuna Blockchain have been officially listed on the following exchanges:

@Hotbit_io & @Bitrabbit_Team

Fortuna Blockchain did get some feedback from the community indicating that they do not want to hear exchange announcement until they happen. Would you want to hear the news in advance?

https://twitter.com/FortunaBlockch1/status/1001118821594288133

Hello, good to see a lot of news and updates. Those interviews with top bounty hunters are really interesting. Good idea.

Thank you, your support is greatly appreciated :)

Weekly Fortuna News, Issue 015

Welcome to see Fortuna how to build a first financial public chain

http://i67.tinypic.com/2d8gg1h.png

Dear Fortuna supporters,

Please find the weekly edition of Fortuna News below! As always, thanks for being a great community, and enjoy the read!

Founder Brian Cai’s Foreword

Dear Fortuna Community,

Last week, Zhejiang University Fortuna Blockchain Center was founded. We are very glad to have made this cooperation with Director of Zhejiang University Information Technology Center, Professor of College of Computer Science and Technology, ZJU (Former Associate Dean) and Doctoral Supervisor Chen Wenzhi. This allows us to add to, and use, very advanced research into the application of blockchain technology. We complement eachothers work and in the future can tap into a wealth of information.

At the same time, we are very happy with the exposure from Xinhua News Agency, people.com.cn, Caijing.com.cn, caixin.com, ifeng.com, chinanews.com, huanqiu.com, china.com.cn, toutiao.com, Zhejiang Daily, jinse.com, huoxun.com, 8btc.com, GMTech, iterduo.com as well as a dozen blockchain newsoutlets such as We Media’s support, Blockchain Diurnal, biquanlieren and chdblockchai covered the story.

We welcome you all to see how Fortuna will build the first financial public chain in 2018.

-Visual FORTUNA-

Behind the scenes #15 (https://www.youtube.com/watch?v=qCLKGVlRQqo/)

Technology Research and Development

Black Friday Derivatives Trading Platform: Black Friday platform V1.1 version has been launched in time. We have added ETH options as planned. Additionally, we will start launching new options once every two weeks.

Fortuna’s mainnet: Product manager has freed up time which resulted in the Blockchain wallet’s progress getting back on track. We are developing Double Kill version now. However, some demand has been changed. The iteration plan is changed a little.

Fortuna’s community BBS: The testing and related issues were completed this week and the online plan was not changed at the end of May.

Quantifying and Modeling

Complete implementation and packaging of all modules required for a single European option on the Black Friday platform;

Listed dozens of industry and/or academic papers on quantitative market, which are currently being analyzed and integrated;

Analysed the needs of in-house quantitative and non-quantitative trader teams.

Marketing and PR

The second Fortuna Forum:
For the Fortuna Forum offline activities we invited all kinds of partners (from We media, exchanges and capital institutions). We prepared film equipment, recorded video on site, had a photographer to capture the day. We prepared roll up banners and the like.

Chinese community operations:
Collect Bounty mission statistics; Contacted two overseas exchanges and reached an agreement;

Overseas community operations:
Released the Weekly Fortuna News, Issue 014; Translatde and published articles on the establishment of Zhejiang University Fortuna Blockchain Center;

The collection and optimization of bounty program community recommendations;

Follow-up on the operation of the Russian community; Delivered overseas employee’s cards and cultural shirts, etc.

Part-time and full-time community operators’ interviews and follow-up;

Fortuna community BBS:
BBS forum bug detection and report; BBS’s registered email and writing of forgetting password’s email; BBS’s copy content optimization and feedback;

Content operations:

The official account is updated by releasing the Weekly Fortuna News, Issue 014; Fortuna Forum content’s preparation, including newsletters; Do the issuance schedule, connect with external media channels, publish in self-built accounts, and collect media announcements.

Furthermore, FOTA tokens have been listed on two more overseas exchanges on May 28th, which adds the total number of overseas FOTA-listed exchanges up to nine.

Talent Hunting

http://i63.tinypic.com/1zxa7pe.png

A total of 154 resumes were reviewed this week. 40 were interviewed and 1 admitted;

New employees breaking ice and we organised a grant May birthday party for all employees who had their birthday in May, this proved a great opportunity to get to know eachother better;

Warm regards,

Fortuna

I  invest in this project and I am confident in the team to make this project in the moon soon, all the best for you

FOTA strong landing FCoin gem, the project team has been doing things, the future development of FOTA coins is worth investors' expectations.

The big project is a good project in my opinion, especially when it has a talented founder like Brian Cai.  ;D
Although knowing Fortuna was a bit late, that did not stop me from starting to buy some FOTA to reserve.
Wish Brian Cai and the project team work well!

The First Collision of Ideas Between Yale and Zhejiang University Alumni as Blockchain Has Entered the “Ivory Tower”

On July 24th, Sino-US Blockchain Technology and Application Seminar, which was co-hosted by Fortuna Blockchain Research Center @Zhejiang University and Fintech Association of Zhejiang, has been brought to a successful close here in Hangzhou.

https://cdn-images-1.medium.com/max/800/1*bfRUGG-pn-izwV0qCgBFCw.png

It’s a great honor for Fortuna Blockchain Research Center @Zhejiang University to have Professor Zhong Shao, Department Chair of the Computer Science Department at Yale University and Co-founder of Certik, Professor Wenzhi Chen, Director of IT Center for Zhejiang University, Brian Cai, Founder of Fortuna, Shengqing Zhu, Founder of DCC. Xiaoxiao Song, Co-founder of DATA, all delivered their keynote speeches. Jianliang Shao, general manager of Blockchain business division at Canaan, Xizhi Pan, COO of JD Cloud Blockchain Lab, Kim Seongkee, Co-founder of MoFAS attended the roundtable forum after the keynote speeches. This seminar marks the debut of CertiK here in China and the first collision of ideas between Yale and Zhejiang University Alumni in the blockchain field. Also, it is the first meetup that gathered CertiK, Fortuna, DATA and DCC, the four Blockchain projects established by Yale Alumni. During the seminar, all the attendees had heated discussion in terms of blockchain security, financial application of Blockchain, the meaning of blockchain to data, etc.

https://cdn-images-1.medium.com/max/800/1*roZqeSbDn1ELsjVI-LzQNQ.png

CertiK is a blockchain project famous for formal verification of smart contract. Professor Zhong Shao attended this meetup as the Co-founder of CertiK, and he delivered a keynote speech which was named “Building Fully Trustworthy Smart Contract and Blockchain Ecosystem”. He indicated that we could conduct formal verification by splitting big program or system into small modules. CertiK can verify whether the smart contract is complete and secure effectively. Meanwhile, he also thinks that the blockchain technology is still in its early development stage. As the gradual improvement of expandability and trading performance, the complexity of the system will be much higher. Therefore, the needs for safety hazard prevention and formal verification of smart contract will be much more substantial. Formal verification, as a mature technology in the safety field, has been successfully applied to many areas. If we make use of it in the blockchain world, then the security, consistency, intelligibility, programmability of a smart contract will be way higher. So that’s why CertiK has spent tons of time and energy into doing this thing.

https://cdn-images-1.medium.com/max/800/1*Qb0sSPa4DBlF59pK-weCmA.png

In the past two years, China’s blockchain technology has been rising and was even leading in the international arena. Under this circumstance, high-level universities driven blockchain technology and projects can’t be neglected, especially blockchain projects created by Zhejiang University alumni. Professor Wenzhi Chen, one of the leading figures in the blockchain technology research of Zhejiang University, also given an excellent sharing at the venue. He detailedly explained the advantages of applying DAG technology in the blockchain field for all the attendees. Also, he denoted that we’ll enhance privacy protection of blockchain through the way of adopting ring signature, zero-knowledge proof, etc.

https://cdn-images-1.medium.com/max/800/1*0aHB-a4aL5GRa3EZjprfgQ.png

Fortuna is the first Blockchain project created by Yale alumni. Brian Cai, its founder, delivered a keynote speech which was named “Derivatives Will Be the First Application of Blockchain Finance.” He denoted that the essence of finance rests with the value exchange in specific time and space. While the development of finance is moving forward all along under two main thread of enlarging the scope of value exchange and reducing the trading costs. So here, the blockchain, as the only technology that was endowed with a full set of financial system, has undoubtedly contributed a lot to those two aspects. For example, a blockchain-based token is currently the most effective means of asset securitization around the world. While for the reason why derivatives are most likely to be the first application of blockchain finance, they are as follows: Firstly, the pointcut of financial derivatives is well-focused. Secondly, it will never be restricted by existing ecological bottleneck problems, such as putting data and asset on the chain. Fortuna, as the forerunner and pioneer in this field, is now poaching world-level talents from Wall Street, Chicago, etc. We aimed to revolutionize the financial derivatives world with the blockchain technology.

https://cdn-images-1.medium.com/max/800/1*XVkarorNJS1JI0CUeOLfpQ.png

Distributed Credit Chain (Known as DCC for short), is world’s first distributed public chain for banking. DCC is dedicated to building a distributed ecosystem for global financial service institutions. Also, it aims to realize benefit-for-all finance through a distributed-bank financial system globally. During the seminar, Shengqing Zhu, Founder of DCC, delivered a keynote speech which was named “ Solution for Financial Systematic Risks: Distributed Credit.” He noted that you would never know how valuable your credit data is going to be. Here, DCC can help you maximize the value of your credit data.

https://cdn-images-1.medium.com/max/800/1*nooV6RV7NIr5vA26YggANw.png

DATA, which aims to solve the trust issues among users in the digital ecosystem with the use of blockchain technology, is another excellent project created by Yale alumni. Xiaoxiao Song, its co-founder, delivered a keynote speech which was named “Blockchain — the New Backbone of Digital Ecosystem.” He indicated that the current digital ecosystem is entirely a mess while DATA will dive more in-depth in this field with decentralized layer data protocol driven by AI technology and P2P mobile storage architecture.

https://cdn-images-1.medium.com/max/800/1*yAUOE44i3EghRAvuEeNWZw.png

After the sharing part, with Brian Cai as the host, Professor Zhong Shao, Department Chair of the Computer Science Department at Yale University and Co-founder of Certik, Professor Wenzhi Chen, Director of IT Center for Zhejiang University, Brian Cai, Founder of Fortuna, Shengqing Zhu, Founder of DCC. Xiaoxiao Song, Co-founder of DATA, all delivered their keynote speeches. Jianliang Shao, general manager of Blockchain business division at Canaan, Xizhi Pan, COO of JD Cloud Blockchain Lab, Kim Seongkee, Co-founder of MoFAS attended the roundtable forum. They had an in-depth discussion regarding blockchain knowledge, security, performance, differences between China and U.S, differentiated investment philosophy in the internet era, etc.

https://cdn-images-1.medium.com/max/800/1*okxwqDOueqk0lFSeObK7Rg.png

https://cdn-images-1.medium.com/max/800/1*caoDOJxERpxkap_BFhnLDQ.png

Fortuna’s meetup is a meetup series hosted by Fortuna Blockchain Research Center @Zhejiang University on a regular basis. We invited famous scholars from both home and abroad this time. The seminar enabled us to realize the fact that it’s reasonably possible to bring blockchain related technical discoveries in the colleges into practice.

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Website: www.fota.io
Email: hi@mail.fota.top

Hi all, are you interested in receiving tokens that already have real cost?

Okay, I could recommend you something, I just have received 20 free BMX for registering on BitMart and moreover  50% commission by inviting friends. Go to website bitmart.com, tokens can already be cashed so you might actually make some real money

Lets see, thanks

The Release of Public Beta Version 0.8.0


The latest version includes 30 feature updates and performance optimizations.
- Spot index change, prompt page open
 - Account equity section refreshes in real time
 - Coin withdrawal/deposit module optimization
 - Trading page input box order adjustment
 - FOTA Dividend Page Optimization
 - Fee statistics cycle bug repaired
 - Contract account data push repaired
 - Marquee jump function repaired
 - 16 other updates and 14 other bugs
https://medium.com/@Fota/the-release-of-public-beta-version-0-8-0-24a6a73ce54e

Fota will be rebranded end of month
https://medium.com/@Fota/rebrand-fortunas-future-b95373c3fb00

And 15 partnership will be announced

The Github link on the website is not active. Do you have any further plans to open your source code?

Hey, Fortuna(FOTA) (https://coinswitch.co/coins/bitcoin/bitcoin-to-fortuna) is listed on Coinswitch.co, a leading exchange aggregator that supports many exchanges. One can buy FOTA at the best rate anonymously at Coinswitch. As FOTA is a ERC20 token, one can buy FOTA through Metamask browser extension. Metamask has integrated Coinswitch exchange where users can directly exchange FOTA to any other crypto Via Coinswitch without login.

-  Do you have any plans to develop in the Korean market? It's a big market, but there's also a lot of legal trouble.
-  Do you have any plan about your price coin? It is come down, and
adversely affect small investor psychology. Your future customers.

-  Do you want to develop market exchange or it? I think this option is a bad idea?
https://fota.com/option/index.html#/

Is there enough number of traders in their exchange? Seems that they are catering the Korean market already. I have just encountered this project, seems the team behind this platform has wide expertise in financial world, yet they haven't managed to get a lot of customers at the moment?

thank for your answer so much :>friend:). But i mean is :
1. Korean hold so much crypto, and their community really good.I hope Fortuna attention this.
2. I don't see any information about they were do in korea or any other country. if you  have it, send me pls?
3. Did you see this option. It really bad.it looks like a game, a joke. And let's think.who will trade,hold their money in a platform have a cheat game like that.
https://fota.com/option/index.html#/