[ANN][IND][Closed] Indicium - Index Funds on a Blockchain Agnostic Protocol

[Indicium]

Indicium is a financially driven token-issuance DAC built using PeerAssets, hosted on the Peercoin blockchain.  It will form algorithmically chosen indices and baskets of cryptocurrencies and issue assets corresponding to the value of these baskets.  Peercoin dividends and voting rights will be given to Indicium (IND) holders as a representation of ownership in the DAC.  A federated approach will be taken, where a group of founders or a board of directors will perform managerial duties to facilitate operation.

A full business outline can be downloaded here.

Series A Investment Details
                                         Start date: Fri, 14.04.2017  00:01 UTC  Posted on the Peercoin forum
End date: Wed, 24.05.2017  23:59 UTC

Funds will be held in multisig reserve until all three founders (Fractals, Nagalim, and Mhps) come to consensus on how funds are to be spent.  All of these funds are to be used for realization of the Indicium business proposal and at the discretion of the token holders.

Accepted currencies: PPC and BTC
3-of-5 Multisig Participants: Nagalim, Mhps, Peerchemist, Saeveritt, Backpacker

Minimum Series A Funding Goal:  $50,000  Achieved!
Maximum Series A Funding Limit:  $250,000  Acheived!

The Indicium price will be formed after the conclusion of series A funding based on the submitted bids.  All series A tokens will be awarded at the same concluding price.  Upon reaching $150,000 of funding, or depending on the current market sentiments, Indicium will stop asking for funds to be sent directly to the above addresses, and will instead begin the process of making a "wait list".  At this point, all those who have pledged but not fulfilled their bid will be added to the beginning of the wait list.  When Series A concludes, bids on the wait list will be totaled and those exceeding $250,000 will not be invited to send funds unless an earlier spot is opened on the list.  We will provide pledgers with 7 days (one week) to respond to our requests for the pledged funds to be sent before we open the spot for the next person on the wait list.  In this way, we hope to reach precisely $250,000 of funding on a first come, first serve basis.

Total Initial Indicium Distribution: 100k
Series A: 50k
Series B: 40k
Founding: 7.5k
PA advisors: 1.5k
Organizer: 0.5k
Reserved: 0.5k

To place a bid in Series A funding please message the @Indicium account here or on the Peercoin forum (https://talk.peercoin.net) with a cryptocurrency amount to be sent (minimum 0.4 BTC and/or 500 PPC), and a Peercoin address that you own to award the IND to.  The Bitcoin/Peercoin price will be chosen on May 24th at 23:59 UTC 2017 no matter what pledges or bids we receive.  This will be done by looking at the order books, last prices, and  24-hour averages on btc-e.com, as we feel it is most relevant to our project, but also heavily relying on other price feeds and/or analysis mechanisms.  Ultimately, the final prices will be chosen by consensus amongst the Founders, who are not exempt from participation in Series A funding.  Please wait for confirmation for your bid from the @Indicium account via private message before sending anything to an Indicium address.  The current state of funding can be seen at the following addresses:

Peercoin Multisig
Bitcoin Multisig

In the extreme event where Bitcoin and/or Peercoin either gain or lose a vast amount of value by May 24th, Indicium will return funds to their sender or the address in the first input to the transaction in question if a sender cannot be identified.  As always, we reserve the right to reject any pledge or bid for any reason and return the funds sent to us.

Follow us on Twitter, or Peercoin chat!

https://i.imgur.com/k92PFDY.gif

[rusmana62]

Indicium is a financially driven token-issuance DAC built using PeerAssets, hosted on the Peercoin blockchain.  It will form algorithmically chosen indices and baskets of cryptocurrencies and issue assets corresponding to the value of these baskets.  Peercoin dividends and voting rights will be given to Indicium (IND) holders as a representation of ownership in the DAC.  A federated approach will be taken, where a group of founders or a board of directors will perform managerial duties to facilitate operation.

A full business outline can be downloaded here.

Series A Investment Details
                                         Start date: Fri, 14.04.2017  00:01 UTC  Posted on the Peercoin forum
End date: Sun, 24.05.2017  23:59 UTC

Funds will be held in multisig reserve until all three founders (Fractals, Nagalim, and Mhps) come to consensus on how funds are to be spent.  All of these funds are to be used for realization of the Indicium business proposal and at the discretion of the token holders.

Accepted currencies: PPC and BTC
3-of-5 Multisig Participants: Nagalim, Mhps, Peerchemist, Saeveritt, Backpacker

                Minimum Series A Funding Goal:  $50,000  Achieved!
Maximum Series A Funding Limit:  $250,000

The Indicium price will be formed after the conclusion of series A funding based on the submitted bids.  All series A tokens will be awarded at the same concluding price.  Upon reaching $150,000 of funding, or depending on the current market sentiments, Indicium will stop asking for funds to be sent directly to the above addresses, and will instead begin the process of making a "wait list".  At this point, all those who have pledged but not fulfilled their bid will be added to the beginning of the wait list.  When Series A concludes, bids on the wait list will be totaled and those exceeding $250,000 will not be invited to send funds unless an earlier spot is opened on the list.  We will provide pledgers with 7 days (one week) to respond to our requests for the pledged funds to be sent before we open the spot for the next person on the wait list.  In this way, we hope to reach precisely $250,000 of funding on a first come, first serve basis.

Total Initial Indicium Distribution: 100k
Series A: 50k
Series B: 40k
Founding: 7.5k
PA advisors: 1.5k
Organizer: 0.5k
Reserved: 0.5k

To place a bid in Series A funding please message the @Indicium account here or on the Peercoin forum (https://talk.peercoin.net) with a cryptocurrency amount to be sent (minimum 0.4 BTC and/or 500 PPC), and a Peercoin address that you own to award the IND to.  The Bitcoin/Peercoin price will be chosen on May 24th at 23:59 UTC 2017 no matter what pledges or bids we receive.  This will be done by looking at the order books, last prices, and  24-hour averages on btc-e.com, as we feel it is most relevant to our project, but also heavily relying on other price feeds and/or analysis mechanisms.  Ultimately, the final prices will be chosen by consensus amongst the Founders, who are not exempt from participation in Series A funding.  Please wait for confirmation for your bid from the @Indicium account via private message before sending anything to an Indicium address.  The current state of funding can be seen at the following addresses:

Peercoin Multisig
Bitcoin Multisig

In the extreme event where Bitcoin and/or Peercoin either gain or lose a vast amount of value by May 24th, Indicium will return funds to their sender or the address in the first input to the transaction in question if a sender cannot be identified.  As always, we reserve the right to reject any pledge or bid for any reason and return the funds sent to us.

[Kushedout]

Interesting.. I had similar concept in mind, will follow.

[Dlugina23]

What is the indicium?

[johnnysof]

How did you achieved the series A funding goal?

[mbah]

Reserve indonesian translation sir
thank you

[Moshen]

How did you achieved the series A funding goal?

He couldn't do that. This is likely to be a ponzi or a carefully masked hedge fund operating with borrowed funds. No need to talk about agnostic protocol and non-existing investment phase if you want to bring a positive publicity to your project. This is a newly created announcement, no price discovery has happened so far, and this is indicative of a malevolent intend on OP's part.

[BitcoinRonnie]

Interesting, I wait and think what to do with this. Funds on the blockchain are very popular.

[Nagalim]

All funds currently at the posted multisig addresses were raised via accounts on the Peercoin forum.  There are no borrowed funds or venture capital, and currently raised funds came from numerous sources.  As far as we are aware, no single party has bid a majority of the current funding.  However, we would not necessarily prevent a single party from bidding a majority at this stage.  As the bids are first come first serve, the current bids placed by peercointalk forum members are nearly guarenteed to receive IND, even if a large party brings funding up to our maximum goal.

Many members of the peercoin community have already taken part in fundraising.  Please feel free to ask reputed pseudonyms on the peercoin forums and chats.

[Indicium]

The above account "Nagalim" is the account of an Indicium founder.

Bidding opened on Friday the 14th, as evidenced here.  We reached our minimum funding goal on the 18th, announced here.  None of our funding has come with any 'strings attached' or private contract.  All series A IND will be given at the same USD price, as described in the original post.

[FandangledGizmo]

Indicium is a financially driven token-issuance DAC built using PeerAssets, hosted on the Peercoin blockchain.  It will form algorithmically chosen indices and baskets of cryptocurrencies and issue assets corresponding to the value of these baskets.  Peercoin dividends and voting rights will be given to Indicium (IND) holders as a representation of ownership in the DAC.  A federated approach will be taken, where a group of founders or a board of directors will perform managerial duties to facilitate operation.

How will the assets be collateralised?

As far as I know there is only the BitShares approach, which successfully collateralises assets but is complicated, requires too much collateral from those shorting the asset and has spreads that are too wide and liquidity that is too low.

Or there is the NuShares/NuBits approach which is able to provide tight spreads and liquidity short term but the underlying assets aren't properly collateralised and so will fail if there is even a relatively small sell-off. (As demonstrated by Nubits which are pegged to USD losing 80% of their value in June 16 and not recovering till 4 months later)

[cahkalem]

total cap for this coin is only 100k ?
did you serious dev ?

[Indicium]

We do not have plans to provide liquidity for any pegging operation.  We intend on holding 100% reserves using multisig addresses and automated trading bots.  Customers will be able to buy or sell their index token for an equivalent amount of Bitcoin from Indicium directly (more similar to Tether than Bitshares or Nu).  This is not to be confused with IND as offered in the original post, which represent ownership in the DAC and have no guarantee of value.

The total initial distribution will be 100k IND tokens.  We have no current plans to further dilute after Series B, and will perform a token-holder vote before doing so.

[FandangledGizmo]

We do not have plans to provide liquidity for any pegging operation.  We intend on holding 100% reserves using multisig addresses and automated trading bots.  Customers will be able to buy or sell their index token for an equivalent amount of Bitcoin from Indicium directly (more similar to Tether than Bitshares or Nu).  This is not to be confused with IND as offered in the original post, which represent ownership in the DAC and have no guarantee of value.

The total initial distribution will be 100k IND tokens.  We have no current plans to further dilute after Series B, and will perform a token-holder vote before doing so.

Thanks for the reply, that's very interesting, of course it requires an element of trust but no more than you trust traditional exchanges.

We're seeing POSW do very well at the moment because even though it requires some trust too it vastly simplifies the process of staking coins and so too this seems to be a product that greatly simplifies alt-coin investing and would also be appealing to larger investors who want exposure to various sectors of the alt-coin market without having to study it too in depth.

Good luck  
 

[davide72]

 could you reserve italian translation dev thanks!

[Sentinelrv]

In case any of you are interested in the PeerAsset protocol, you can find more information at the links below. Using this protocol, the security for the assets will come from the host blockchain Peercoin. The protocol has been in development over the past year. The way it is designed will allow Indicium to port over to another blockchain if anything were ever to happen to Peercoin, which we don't expect as it was the originator of proof of stake and is built for long-term sustainability. It is the perfect blockchain to host DACs like Indicium.

- PeerAssets Whitepaper
- The Benefits of PeerAssets
- The Evolution of Blockchain Governance

[mhps]

this seems to be a product that greatly simplifies alt-coin investing and would also be appealing to larger investors who want exposure to various sectors of the alt-coin market without having to study it too in depth.

I think many have recognized the need for index funds. When the concept of a low volatility index fund was discussed we saw many advantages of it -

Value to the customers

• Exposure to the best cryptocoins and assets without buying all of them.
• MVI dynmically assigns greater weights to the more stable coins in time, averages volatility out in many assets.
• Rebalancing sells high and buys low, and is proven to increase customers' value in volatile market.
• Index fund saves cost and is well recognized to perform better than hand-picking assets (even by experts).

Value to the investors
The Fund can start small. Most work can be tried by human initially to gain operational knowledge. Automation costs but can be build gradually. Once the in frastructure is made the long-term operation is almost automated. The cost of managers, directors, signers, server renting, and tech support during operations is limited. The fee collected is unlimited.

More products can be added with little cost to cater different customer need.

[Indicium]

The above account "mhps" is the account of another Indicium founder.

We are pleased to report that funding has reached well over $80k at current cryptocurrency prices, as shown at the BTC and PPC multisig addresses.  Short of a vast devaluing of Bitcoin and Peercoin in the next month, we will be moving forward with this project and produce a minimum viable product for Indicium.

[Indicium]

You can talk to the Indicium team directly at https://peercoin.chat/channel/indicium.  Make a free account (you can also use github to access) and have an informal discussion with us at any time.  You can also follow us on twitter @IndiciumETF to receive and retweet announcements about Indicium.

[Indicium]

With Peercoin's latest bull run to over $1/coin, it is good to review the reasons why the Peercoin blockchain is the best fit for Indicium.  Here, you can read about the history of Peercoin and how the community moved towards the concept of 'good money' that we are attempting to build with Indicium.  Advantages of using Peercoin as the host chain include a static fee of 0.01 PPC/KB, a blockchain smaller than 1 GB, responsive governance where burnt fees means minters are concerned with ppc use cases, and superior decentralization and security with minters located all over the world.  With Peerchemist as both an Indicium advisor and the new Project Leader for Peercoin, as well as several other intersections between the Peercoin and Indicium teams, the PeerAssets protocol is sure to grow and co-develop alongside the core Peercoin protocol.  With a blockchain agnostic protocol, Indicium is not fundamentally dependent on Peercoin, but rather uses the blockchain like a service.  We believe both organizations will benefit greatly from this decentralized and agnostic partnership.