CRUSH CRYPTO CORE DAA FAQ
Overview
What is the Crush Crypto Core (CCC) DAA?
The Crush Crypto Core DAA is an actively managed portfolio of digital assets that people can directly invest in through the ICONOMI platform. (See "What is a Digital Asset Array (DAA)?" below.)
The objective of the DAA is to outperform a model portfolio comprised of 50% bitcoin and 50% ether through the rigorous asset selection approach employed by Crush Crypto, and at the same time provide diversification.
CCC started with a seed capital of $100,000 from the Crush Crypto co-founders in October 2017. As of January 31, 2018, CCC had assets under management of approximately $3.9 million.
What are the key features?
As CCC is provided through the ICONOMI digital assets management platform, key features include:
- 24/7 access & liquidity: Get access anytime with a growing list of supported coins and tokens with deep liquidity.
- Low minimums & fees: You can invest as little as $10 in CCC. There is a flat 2.5% annual fee on invested assets with a standard 0.5% exit fee. There are no hidden fees or additional costs.
- Fast withdrawals: There are no contract lock-ins and you can withdraw anytime to get your money back.
- Easy to get started: Sign up, deposit digital assets and you are ready to go.
- Cutting edge security: The majority of assets are permanently stored in multi-sig protected cold wallets, so you can enjoy the safety of physical bank vaults.
- 100% transparency: All exchanges are executed on the markets and returns for CCC are available in real-time.
- Trusted oversight: ICONOMI provides third party oversight for added protection.
Why should I invest with Crush Crypto?
Crush Crypto is one of the most established and popular independent research platforms on cryptocurrency investing. As of February 17, 2018, the team has provided in-depth research reports on over 85 cryptocurrencies with a strong performance track record.
The team has extensive experience in investing, asset management, and investment research. The Crush Crypto Core DAA (CCC) will be managed by Victor Lai, CFA, who is specialized in fundamental analysis and investing, with experience in asset allocation, investment strategy, and portfolio management. Prior to moving into the cryptocurrency space, his prior roles involved analyzing investment opportunities in different asset classes - equities, bonds, commodities, real estate, and derivatives.
In addition, Crush Crypto underwent rigorous screening by ICONOMI and was selected as one of their first DAA managers. There were over 150 applications for the first group of DAA managers from many qualified individuals and organizations and Crush Crypto was one of the 12 selected ones.
The Crush Crypto team also personally put in US$100,000 to provide the seed funding for CCC so they have the best interests of CCC participants in mind.
Who manages CCC?
The manager of Crush Crypto Core DAA (CCC) is Crush Crypto co-founder, Victor Lai, and he is fully supported by the Crush Crypto team.
Victor has close to ten years of experience working at various hedge funds and investment banks in Asia and North America. He specializes in fundamental analysis and investing, with experience in asset allocation, investment strategy, and portfolio management. Victor holds an MBA degree from the University of Chicago Booth School of Business. He is also a CFA charterholder.
To learn more about Victor and the Crush Crypto team, please click here. You can also check out an in-depth interview by ICONOMI with Victor in October 2017.
What are the extra perks?
As a way to thank our supporters, on top of enjoying the benefits provided by CCC, we will provide extra perks to anyone with a total contribution over 15 Ether or 100 Ether in CCC (or the equivalent amounts in Bitcoin).
- Contributions > 15 ETH: Exclusive access to our private group for high quality and spam-free discussions and advice on cryptocurrency. In the group, we often provide reminder for registrations in promising ICOs such as 0x and Kyber which both generated over 400% return.
- Contributions > 100 ETH: The above and early access to our "Crusher of the Month" series where we will share existing tokens/coins that we have the highest conviction on.
What is your track record?
We track and publish the real-time performance of our recommendations to provide accountability and transparency in what we do. We are proud to see that our track record shows our research and recommendations add substantial value. Please visit our Performance page for more information and for recent performance on all of our calls.
At the end of January 31, 2018, the price of CCC was $3.6572, representing a return of 266% since its inception. For real time performance on the CCC DAA, please visit the CCC page on ICONOMI.
We also provide monthly performance reports on our website to provide transparency on our methodology, rebalancing strategy, changes we have made, and any other pertinent information.
Why did you choose to partner with ICONOMI?
ICONOMI is a well-known fintech company focused on digital assets management and we are excited to partner with them. They are one of the few ICO projects that have delivered on what they have promised to do so far and have earned a high regard in the crypto community. Some of the reasons why we decided to partner with ICONOMI:
- Lower security risk for investors: Security is a major risk for digital assets. There have been incidents of individuals and exchanges being hacked or funds being siphoned away by scams. By partnering with an established and reputable platform that implements cutting edge security measures, the security risk is dramatically reduced for CCC participants.
- Allows us to focus on our core competency: We want to do what we do best - picking the best cryptocurrencies and providing outsized return. Our partnership with ICONOMI means we don’t need to worry about the backend - software development, smart contract coding, accounting, human resources, legal support, etc. This way, we can focus solely on serving CCC participants in the best way possible.
- We believe in ICONOMI's vision: Cryptocurrency investing is the wild west right now. With ICONOMI's systematic approach, the market can be more organized and structured, which in turn would help cryptocurrency become a mature asset class suitable for every investor.
About the Crush Crypto Core DAA
What is the portfolio strategy of CCC?
CCC is for people who want to invest in a basket of high-quality and undervalued cryptocurrency assets, serving as a “core holding” for their long-term portfolio.
70% of the portfolio is comprised of blockchain protocols that have wide real-world adoption.
This portion is considered to be the “core” of the DAA and the holdings will not change dramatically each month.
30% of the portfolio is comprised of high-quality and undervalued tokens.
These tokens are selected based on Crush Crypto’s signature evaluation process. This portion is expected to deliver a higher return and to be changed and rebalanced more frequently on a monthly basis.
What digital assets can CCC invest in?
CCC can invest in three generations of digital assets - Bitcoin (first generation), altcoins (second generation) and application tokens (third generation) which may represent stakes in services such as prediction markets, micropayments, smart contracts, remittance, games, distributed computing, and more. Here is a sample list:
- Coins: Bitcoin (BTC), Ether (ETH), Digital Cash (DASH), Lisk (LSK), Steem (STEEM), etc.
- Tokens: OmiseGO (OMG), TenX (PAY), Basic Attention Token (BAT), MaidSafecoin (MAID), Golem (GNT), Augur (REP), Metal (MTL), Civic (CVC), etc.
Please click here for the most complete and up to date list from ICONOMI. ICONOMI will continue to add more coins/tokens in the near future.
Why does CCC not invest in ICOs?
No, CCC only invests in existing cryptocurrencies and tokens. ICOs often have different restrictions (e.g. some are available to US citizens, other are not) and individual KYC requirements, therefore, we do not invest in ICOs for others and we do not offer any pooling services. This actually removes any potential conflict of interest as we will continue to provide research and analysis on ICOs through our platform for free.
What is the fee structure?
CCC charges a flat annual management fee of 2.5% on the invested amount. This fee is automatically deducted on a prorated basis every day by ICONOMI. There is also a 0.5% exit fee (charged at DAA withdrawal) which is standard across all ICONOMI DAAs. There are no additional fees or costs.
How do I keep track of how CCC is performing?
You can track the returns of CCC and other DAAs directly on the ICONOMI website. The performance of CCC is updated in real time.
We also provide monthly performance reports on our website to provide transparency on our methodology, rebalancing strategy, changes we have made, and any other pertinent information.
How does CCC compare to other crypto investment funds such as TAAS or Astronaut?
As CCC is provided through the ICONOMI digital assets management platform, these are some of our advantages:
- Flexibility: Instead of locking up your investment in one fund, through ICONOMI, you can invest in multiple DAAs and reallocate at anytime with ease.
- Flat fees: We charge a flat 2.5% annual management fee on invested assets, which is comparable to the management fees charged by traditional mutual funds. Some crypto investment funds charge fees as high as 3% management fee + 25% in profits generated by the fund, in addition to taking a portion of the funds they may raise through a crowdsale.
- Less risk: By purchasing a tokenized crypto investment fund, you will face volatility in the token price in addition to the fund's actual performance.
- Trusted oversight: ICONOMI provides you an extra layer of protection by ensuring that we do not overcharge, pocket any discounts we may get from purchasing tokens, and that investors share in the returns on a real-time basis.
- Liquidity: If you invest in a tokenized crypto investment fund, there may be liquidity issues when you want to get rid of your position. With ICONOMI, you can redeem all your positions with the click of a button.
About ICONOMI
What is ICONOMI?
ICONOMI is a fintech company that manages a blockchain-based platform that allows anyone - from beginners to blockchain experts - to easily invest in digital assets such as cryptocurrencies (Bitcoin, Ether, Monero, Dash, etc.) and application tokens (OmiseGo, Qtum, Civic, etc.). They were established in early 2016 and went through a successful ICO (see Forbes article), raising over $10 million in September 2016. ICONOMI is currently listed under the symbol ICN on various cryptocurrency exchanges, including Kraken, Binance, Liqui and more.
Since the ICONOMI platform opened for registration in August 2017, more than 16,000 new users have signed up, depositing over $100 million in digital assets. As of January 10, 2018, ICONOMI had over 40,000 users and an AUM of approximately $200 million; their token ($ICN) had a market cap of approximately $541 million. For more information, please visit their website at https://www.iconomi.net (or see their whitepaper).
What is a Digital Asset Array (DAA)?
ICONOMI enables users to invest in and manage various digital assets and combinations of digital assets called DAAs. Crush Crypto Core is one of the DAAs that investors can choose to invest in. Through ICONOMI, you can have a diversified array to maximize value stability or a higher-risk array tuned to aggressively pursue maximal gains. There are 3 features of DAAs:
- Simple purchase: Users are able to purchase DAAs in seconds.
- Low entry barrier: Sign up is easy with low fees.
- Lower risk: Users can easily diversify their crypto portfolio and minimize risk.
Technical definition: The DAA is a cryptographic token solution, developed by Iconomi, which operates on the Ethereum public blockchain. DAA is a software product as its content presents a source code, including elements of a smart contract and application features. DAA can be custom fit for a wide arrange of purposes and may include a number of chosen digital assets. Consequently, its main feature is that it saves time and transaction costs to those users, who wish to obtain cryptographic tokens of different digital assets.
Why should I become a DAA investor?
Investors can choose from a range of DAAs on ICONOMI, searching by performance, market cap, and other technical parameters.
- There are hundreds of digital assets that can form various combinations of digital assets arrays and present the perfect vehicle to achieve your goals.
- It can be difficult to purchase a variety of digital assets. With ICONOMI it takes only a few seconds to simultaneously acquire different arrays of digital assets.
Who manages the DAAs?
DAAs are managed by DAA managers (such as Crush Crypto's co-founder Victor Lai) who can utilize their own digital assets management strategies and share them with the community. Investors can choose between various DAAs and invest their digital assets into those they find most promising. Good performance builds the DAA manager's reputation and attracts new investors, who get access to proven expertise and results in return.
How To Purchase CCC (Via ICONOMI)
Who can invest?
At the moment, anyone except for citizens of the United States, Canada or Saint Vincent and the Grenadines are eligible to invest. As soon as a clear decision is announced by financial regulators in these countries, these restrictions will be removed. Please stay tuned for updates. If you are not eligible to use the ICONOMI platform, you can also invest in CCC by trading the CCC token on the IDEX decentralized exchange. Please see "How To Invest in the CCC Token (Via IDEX)" below.
Here is ICONOMI's current list of Tier 1 supported countries and the Tier 2 supported countries.
How do I purchase the CCC DAA?
If you have an ICONOMI account already, here is the link to purchase CCC directly: https://www.iconomi.net/dashboard/#/buy/CCC.
If you don't have an ICONOMI account, you can purchase CCC in three easy steps:
- Open an account with ICONOMI. Go to https://www.iconomi.net and click on on the Register button. Follow the on-screen instructions and check your inbox for the confirmation email after signing up.
- Make a deposit. Login to your ICONOMI account and deposit Bitcoin or Ether. (See "How do I make a deposit?" for more details.)
- Purchase CCC. Go to your ICONOMI account and click: Dashboard > Buy > Select Digital Asset (Crush Crypto Core is under the symbol "CCC") > Enter the Amount of Digital Assets to spend or Amount of DAA to receive > Follow the on-screen instructions. This is the link to purchase CCC directly: https://www.iconomi.net/dashboard/#/buy/CCC.
How do I sell CCC?
Selling CCC or any other DAA is just as easy as buying it. Simply login to your ICONOMI account and follow these steps:
- Sell CCC. Dashboard > Sell > Select Digital Asset you want to receive > Enter the Amount to sell or Amount of Digital Assets to receive > Follow the on-screen instructions.
If you wish to withdraw your funds from ICONOMI, please see "How do I make a withdrawal?"
What is the minimum and maximum amount that I can buy or sell?
The minimum amount per buy/sell is $10. The daily buy/sell limit (per 24 hours) is $10,000. These amounts are standard across the ICONOMI platform.
Is there a lock up period?
There is no lock up period. You can convert your DAA holdings back into Bitcoin, Ether or any of ICONOMI's other supported digital assets at any time.
How do I make a deposit to ICONOMI?
For more information on the deposit options and execution times for each supported digital asset on ICONOMI's platform, please click here. All deposits have zero fees. The amount that you can deposit depends on your verification tier.
To make a deposit, login to your ICONOMI account and follow these steps:
- Select the Deposit tab, then choose the digital asset you wish to deposit.
- The next screen will display the QR code and your dedicated/receiving address for your ICONOMI account.
- Simply copy and paste the address into the wallet/exchange/etc., that you are initiating the transfer from. You can check the status of your transaction at any time.
How do I make a withdrawal in ICONOMI?
You can easily sell your holdings in any DAA and withdraw your cryptocurrencies from the ICONOMI platform at any time. Please refer to this page for information on the ICONOMI platform’s execution times and withdrawal fees for each supported digital asset. The amount that you can deposit depends on your verification tier.
To make a withdrawal, login to your ICONOMI account and follow these steps:
- Select the Withdraw page, then choose the digital assets/tokens you wish to withdraw.
- On the next screen, enter the amount you want to withdraw and paste the receiving address you wish to transfer to (the receiving address is the address you copy/paste from the wallet/exchange/etc. where you want your digital assets/tokens to be sent).
- Press Preview and confirm the transaction. Two additional confirmations are needed to complete the withdrawal: Two-factor authentication (2FA) and email confirmation.
About the CCC Token
What is the CCC token?
The CCC DAA was successfully tokenized on January 4, 2018. This means that CCC tokens can now be withdrawn from the ICONOMI platform to any Ethereum ERC20 compatible wallet.
On January 19, 2018, the CCC token (ticker CCC) was successfully listed on the IDEX decentralized exchange. This allows for the trading of CCC tokens directly on the exchange, just like other tokens, without using the ICONOMI platform.
For those of you who live in countries that are excluded from ICONOMI (US or Canada), or if your deposit limit in ICONOMI is maxed out, this means you can now purchase CCC directly from IDEX.
Where can I view the CCC token smart contract?
You can view the smart contract for the CCC token anytime at: https://etherscan.io/token/0xbe11eeb186e624b8f26a5045575a1340e4054552.
What drives the value of the CCC token?
The value of the CCC token is based on the value of the underlying coins and tokens in the CCC portfolio (click here to see the current holdings in the portfolio and their respective weight in the portfolio). For example, if the value of all underlying assets of the CCC portfolio increase by 10%, the fundamental value of the CCC token will also increase by 10%.
CCC started out trading at $1 in the beginning of October 2017.
Can the price of the CCC token deviate from the price quoted on ICONOMI?
The price of CCC tokens as quoted on exchanges should not deviate significantly from its fundamental value (i.e. the price quoted on ICONOMI) as any deviations would result in arbitrage opportunities. For example, if the price quoted on exchanges is significantly lower than that quoted on ICONOMI, then investors can buy CCC on exchanges, transfer the tokens to ICONOMI and sell them at a profit.
However, users can place buy and sell orders at any price they desire, even if it is at a premium or discount to the fundamental value of CCC. To ensure that you are paying a fair price in Ether terms for CCC tokens, please check the current price of CCC as quoted on ICONOMI and the current Ether price.
In order to provide liquidity for CCC tokens at the current price as quoted on ICONOMI, the Crush Crypto team will put up both buy and sell orders on IDEX every day at 2pm PST (5pm EST or 10pm GMT) so there is guaranteed liquidity at that time. We will put up buy/sell orders for CCC at the market value as quoted on ICONOMI, but we will pull the order after 30 minutes since the value of CCC fluctuates continuously.
What exchanges is the CCC token available on?
At the moment, the CCC token is only listed on the IDEX decentralized exchange. We are working with other exchanges to get CCC listed. Please stay tuned for updates.
How To Purchase CCC (Via IDEX)
What is IDEX?
IDEX is the first Ethereum-based decentralized smart contract exchange to support real-time trading and high transaction throughput. Created by Aurora Labs, IDEX is an advanced Ethereum decentralized exchange, supporting limit and market orders, gas-free cancels, and the ability to fill many trades at once. The IDEX UX matches that of centralized exchanges while maintaining the security standards only available to decentralized exchanges.
IDEX is an up and coming decentralized exchange that is quickly gaining traction. It was launched in September 2017 and gained over 18,000 active users and almost $4M in daily trading volume only 4 months after launch.
For more information on IDEX, please visit their FAQ page.
How do I find the CCC token on IDEX?
You can find the CCC token (contract 0xbe11eeb186e624b8f26a5045575a1340e4054552) at https://idex.market/eth/ccc.
How do I use IDEX?
IDEX works pretty similarly to EtherDelta but is a lot faster. To trade on IDEX, you can use your own wallet (Nano S, MetaMask, Keystore file, or private key), deposit ether or tokens to the IDEX wallet, and then trade on the exchange.
Here are some official guides from IDEX that may be helpful:
- Video tutorial on YouTube (4 minutes long)
- Quick videos on how to use IDEX (including how to unlock your wallet, deposit/withdraw tokens, place limit orders, execute trades and cancel open orders)
- How to create and connect your private key/keystore on IDEX and unlock your wallet (3 minute read)
- How to connect your MetaMask account to IDEX (2 minute read)
- How to connect your Ledger hardware wallet to IDEX (2 minute read)
- How to find your wallet address, deposit, withdraw and send to another wallet from IDEX (6 minute read)
- How to buy and sell on IDEX (4 minute read)
- How to view and cancel open orders on IDEX (2 minute read)
What are the fees to trade on IDEX?
IDEX charges 0.2% for the market taker and 0.1% for the market maker. Users also pay gas fees to put their transactions on blockchain. All transactions on the Ethereum network cost gas, a fee that is paid to miners in order to process the transaction.
There are no open orders at the moment - how can I buy/sell CCC tokens?
In order to provide liquidity for CCC, the Crush Crypto team will put up both buy and sell orders on IDEX every day at 2pm PST (5pm EST or 10pm GMT) so there is guaranteed liquidity at that time. The buy/sell prices will be based on the current price of CCC as quoted on ICONOMI and the current Ether price.
We will put up buy/sell orders for CCC at the market value as quoted on ICONOMI, but we will pull the order after 30 minutes since the value of CCC fluctuates continuously.
Other users may also put up buy and sell orders from time to time but their buy/sell price may be at a premium or discount to the price of CCC as quoted on ICONOMI.