27 Feb 2021

bitFORTUNE USD Derivative Definition

The bitFORTUNE USD Derivative is defined to

27 Feb 2021

The bitFORTUNE USD Derivative is defined to provide an option on the bitFORTUNE Platform to store value pegged to the United States dollar using market pegged assets. This derivative is classified as low risk.

bitFORTUNE USD could potentially be higher or lower than USD. This is due to automated trading and interest bearing assets in the derivative’s composition. The bitFORTUNE USD derivative composition includes market pegged assets, the bitFORTUNE USD Trader and interest bearing assets. The intention is to outperform the value of USD by trading USD to and from selected assets and earn passive interest with decentralized finance and centralized finance entities.

There is a front end and back end fee for the bitFORTUNE USD Derivative. The front end fee is a flat 1%. The back end fee is variable depending on the performance of the derivative. The minimum back end fee is 1%. If the derivative performs greater than 1% in 30 days the back end fee increases by 25% of percent gains over 1%. For example if the derivative performed 5% for the past 30 days the back end fee would be 2%. 50% of the front and back end fee goes toward bitFORTUNE token – the main asset of the bitFORTUNE Platform. The other 50% of the fee is the administrative transaction processing and maintenance fee.

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