28 Jan 2018

White Paper bitFORTUNE Value

bitFORTUNE Value bitFORTUNE is backed by the

28 Jan 2018

bitFORTUNE Value

bitFORTUNE is backed by the value of the bitFORTUNE portfolio according to the following equation that calculates the net asset value for bitFORTUNEs:

{[(n – a) + h + t] – l} / c = p

Where variables have the following definitions and units of measurement:

  • n – new value from sales on exchange; units in USD
  • a – administrative value distribution; units in USD
  • h – total value of all assets in holding; units in USD
  • t – total value of all assets trading; units in USD
  • l – fund liabilities including administrative fees and transaction fees; units in USD
  • c – total circulating supply of bitFORTUNE tokens; units in FORTUNE
  • p – price per bitFORTUNE token; units in USD per FORTUNE (USD/FORTUNE)

Note here that the value of each coin in circulation is calculated daily and reflected on the bitFORTUNE exchange by the bitFORTUNE token sell & buy order that is maintained by the administrative account as described in the DISTRIBUTION & PROFIT sections of the bitFORTUNE White Paper.

As stated in the DISTRIBUTION section of the bitFORTUNE White Paper, no single bitFORTUNE token is released into circulation unless backed by a purchase on the exchange at the market value of the token as calculated and set daily by the administrative account. This includes the founders of the token who received zero pre-mined bitFORTUNE tokens. Token founders must also purchase bitFORTUNE on the exchange as all other investors.

This value of bitFORTUNE tokens calculated daily is also the price at which the administrative account on the bitFORTUNE exchange will buy back the token from investors. This facilitates profit sharing of the performance of the portfolio.

White Paper Contents

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