Target Coin is a crypto project with the objective of creating a cryptocurrency hedge fund. They will launch an ICO on the 15th July 2017. In this interview, Akshath Naik, explains more about Target Coin’s objectives.
What is Target coin and what are its objectives?
Target Coin is a Cryptocurrency investment fund which is the first of its kind in the world.
Target Coin would be raising capital and utilising the raised capital in order to invest in various cryptos currently being traded on exchanges as well as certain differentiating ICO’s. Our aim is to generate the best return for our clients with the lowest amount of risk as well help them grow their capital without going through every day’s volatility. The primary goal of Target Coin is to create alpha and to create it at the best odds while serving investor interests. Within such a mechanism Target Coin would also be providing its ICO investors with an additional bonus payment of 0.75%(minimum) quarter on quarter and this would be over and above the performance return generated by the fund.
Within such a mechanism Target Coin would also be providing its ICO investors with an additional bonus payment of 0.75%(minimum) quarter on quarter and this would be over and above the performance return generated by the fund.
We are here to create the world’s first crypto fund which would have a hedge fund approach instilled in it.
Where is Target coin incorporated?
Target Coin is not incorporated as a firm and works on a system whereby majority stake is held by our ICO clients and this way we would also be able to extremely transparent about our activities.
Decision making as well management control to the funds as well as the funds’ deployment in various cryptos would be taken by me and my team of 5-6 traders.We would only be keeping with us 13% of the coins in order to maintain liquidity as well as to provide our ICO investors with the highest amount of token price control. We believe in the market deciding what our value will be based at, unlike most other cryptocurrencies.
What is the expertise of the team in cryptocurrency trading?
The team has been extensively trading since the past 3 years within the crypto space.A trade we have been holding and hence I am able to share with you is our long trade made on XRP at 3.5 cents. We are currently over 1000% on this trade with the trade being initiated less than 4 months back.
Does the team have a history of trading other assets?
The team as well as me have over 18 years of experience in trading and investing in equities, foreign exchange as well commodity markets. Our primary focus has been the concentrated equities portfolio which as we speak is up over 90% in the past 3 years.(i.e a CAGR of over 28% YoY)
Will the fund be audited by an external third party?
Yes the fund after ICO and once trading begins will be audited by an external third party. This would be our focus once our ICO is complete.
Will the investment decisions be driven by human decisions or quantitative software and algorithms?
At this moment all that I can share with you is our planned projections which utilise algorithms and quantitative models in order to work as an alert and indication system. At Target Coin our belief is old school and each trade would be made with Human Decision Making itself.
In what currency will the dividends be paid?
The dividend will be paid in BTC or ETH terms itself.
- Investors receive 85% + 0.75 % per quarter of the profits generated by the fund as Bonuses.
- Payout Structure: 10 % Yearly Management Fee, 15 % performance fee
- Tokens Created: 2 billion coins
- Tokens Held By Promoters: 260 million coins or 13%
- Tokens Held By Pre-ICO Investor: 400 million coins or 20%
- Token Supply: 1.34 billion coins or 67%
- Price Per Token : 0.04 $ (Market cap of $53,600,000)
What will be the frequency of dividends issuance?
The Bonus payout would be happening on a quarterly basis since the day the Fund is live. Every Quarter a minimum bonus of 0.75% would be paid out.
What percentage of profits will be distributed to token holders?
2.85% of the profits would be distributed to token holders and the performance fee too will be used in buying back TGT Coins in the open market.
Do token holders need to execute any contracts to retrieve their dividends?
Nothing needs to be done by the token holders.Our team takes care of all the work.
Do dividends accrue or are they lost if they are not claimed in time by the token holders?
No the bonus will be paid out to the token holders.If any are not claimed those will be used to buy back TGT Coins in order to help grow the liquidity in the market.
When will Target Coin start trading after the ICO?
Target Coin will begin trading at the earliest of setting up the accounts and once the fundraising is over during the ICO period. We are currently looking at a range of 15 days at minimum before we begin actively trading.
What are the technical details of Target Coin?
Target Coin is based on the Ethereum Network as will be using this network itself in order to accept payments in BTC as well as Ether Terms.
We are creating a total of 2 billion coins and reserving 13% for the founder’s fund. A total of 1.34billion coins at a price of 0.04 will be raised during the ICO period. Future tokens and ICO’s have not been considered in detail as of this date and we would be self-sufficient at this moment with the amount of capital raised.
To learn more about TargetCoin:
- What are the pros and cons of this ICO in your opinion?
- Will you invest, if so what was the main attraction you see in this project?
- Let’s discuss!