ETF Token I am a light investor in cryptocurrency. I believe that people like myself and also the other 99% of the country that do not own any cryptocurrencys yet need to be able to invest without having to be day-traders watching a Binance screen 24 hours a day. I also believe that when I read a whitepaper to decide if I should invest in something, it does not seem fair that 50% of the tokens or 50% of the ICO proceeds are retained for the founding team.
I have decided to release a Token that is 100% backed by an Actively-Managed Index Fund of various Cryptocurrency Assets. The deliverable is simple to execute. It is a smart contract that only processes an ETF token purchases if a simultaneous contract is executed to deliver the ETF token's value into the backing fund. This way almost every dollar (or more likely ether) goes directly into the fund. Only a small fee less than 1% going to the team who manages the Fund. The team members will each have specific tasks and will have to do a good job because to stay on with this organization (even me) you have to be reelected every year by the community of Token holders.
This fund will be more honest and stable than Tether, with a verifiable Blockchain Smart Contract for instantaneous Asset Backing and also fund Auditing. This will also deliver the value of an actively managed Cryptocurrency Index Fund, to allow Token Holders to be involved with only the most profitable/stable tokens, even when they are not actively watching the Market. Draft Whitepaper with concept and introductory information available on our website. Updated daily as revisions are made. Coming Spring 2018.
https://www.etftoken.org/Looking forward to your feed back. (I can handle constructive criticism just don't be a jerk, ha!)
JT
