Hello: I'm Darren Tapp (汤德润) a DIF Supervisor.
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I'm happy to report that our Q4 report is video and is available.
Slide 6 shows our Q4 expenses and outlays. In my opinion Q4 was a great quarter. Q1 might be a bit of rebuliding, but there are a few opportunities that I'm excited about and our reserves are prepared for.
One question we received was: "Do supervisors have to disclose whether they have any private interest/shares of a company that is being evaluated for investment?"
To which the answer is: "Supervisors disclose if they have a private interest in an investment and recuse themselves from the DIF vote on such investments."
Slide 6 shows our Q4 expenses and outlays. In my opinion Q4 was a great quarter. Q1 might be a bit of rebuliding, but there are a few opportunities that I'm excited about and our reserves are prepared for.
One question we received was: "Do supervisors have to disclose whether they have any private interest/shares of a company that is being evaluated for investment?"
To which the answer is: "Supervisors disclose if they have a private interest in an investment and recuse themselves from the DIF vote on such investments."
For You and @Mark Mason
A suggestion.
I have detected an interesting opportunity for Dash, to can manage the DIF.
PayPal has bought this startup:
This startup is a professional custodial solution for institutionals, and as you can see in it blog are making partnership with may Blockchain projects.
.
It would be very interesting, that Dash was included, it would allow in the future that dash to be added in Paypal easily.
I hope you investigate, and you will tell me something.
A suggestion.
I have detected an interesting opportunity for Dash, to can manage the DIF.
PayPal has bought this startup:
This startup is a professional custodial solution for institutionals, and as you can see in it blog are making partnership with may Blockchain projects.
It would be very interesting, that Dash was included, it would allow in the future that dash to be added in Paypal easily.
I hope you investigate, and you will tell me something.
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The largest self-directed IRA custodian in America, Equity Trust, is using GBI to custodial crypto investments for IRA retirement account holders. I personally use it and while it has relatively higher fees, it's been one of the best investments I've made for our Roth IRA. Of course, Dash is not available to invest. As you can imagine, this is major institutional money by Equity Trust.
One of the largest partner/investor in GBI is Dan Tapiero and he's mostly accessible through Twitter. He's featured quite a bit on Real Vision.
Here's a dashboard screenshot from my account:
I'm not sure that the DIF would be interested in something like this but thought I should bring it up anyway.
One of the largest partner/investor in GBI is Dan Tapiero and he's mostly accessible through Twitter. He's featured quite a bit on Real Vision.
Here's a dashboard screenshot from my account:
I'm not sure that the DIF would be interested in something like this but thought I should bring it up anyway.
I think it's interesting, I used for ideas & opportunities the discord DIF channel.
Now if I see something, I will put it in the forum post.
Thanks for bringing this up @blockchaintech ! I'll ask the other supervisors about it. Maybe this can go on our fact finding plate?
For You and @Mark Mason
A suggestion.
I have detected an interesting opportunity for Dash, to can manage the DIF.
PayPal has bought this startup:
This startup is a professional custodial solution for institutionals, and as you can see in it blog are making partnership with may Blockchain projects.
.
It would be very interesting, that Dash was included, it would allow in the future that dash to be added in Paypal easily.
I hope you investigate, and you will tell me something.
Thanks @Hilawe the DIF currently has an interest in identifying all custodians that offer Dash an an option. I can certainly see the value in allowing people have exposure to Dash in their retirement accounts!!!
A idea boys @Mark Mason :
It may be interesting for a partnership, and that the official crypto can be Dash. Study it, that with good marketing you could capture many Crypto users of this service (more tx).
They say that to accept Crypto, contact your email from @dasypay domain.
simplelogin.io
It may be interesting for a partnership, and that the official crypto can be Dash. Study it, that with good marketing you could capture many Crypto users of this service (more tx).
They say that to accept Crypto, contact your email from @dasypay domain.
SimpleLogin | Pricing
SimpleLogin is 100% funded by the community. It depends on your support to keep the service running and develop new features.
I am hungry!!! I want someone to deliver me a PIZZA!!!! But I can pay only with Dash!!! Where are those delivery boys when you need them? By the way, I can also buy a new computer with the Dash I own! My computer is 12 years old!!!! Thank you so much @Geert, for giving me 1 Dash [1] [2] five months ago! I can now buy a new computer with that money!! But where are those delivery boys, when you need them? Why do they offer their services only in Venezuela???
I WANT A DASH DELIVERY SERVICE, DIRECTLY TO MY HOME! AND I WANT IT NOW !!!!
DIF SHOULD INVEST TO DASH DELIVERY SERVICES, NOW!!!!
Answer to a question in another forum:
There is a hedging strategy in effect. That strategy is 70% USD and 30% DASH. Assets are balanced every time there is a DAO distribution or a contract signed for an outlay. (No outlays in Q1) The DIF does not believe it has access to gold markets that are liquid enough to be useful. We have been unsuccessful at securing access to broader markets.
Our liquid (the exchange) balance uses Hummingbot to target 50/50 Dash/USD. That means the overall balancing strategy could be 40%/60% USD/Liquid Balance.
@Walter asked me to evaluate the effectiveness of Humming bot I found:
At the end of Q1: The DIF's liquid (liquid the exchange) balance was worth $215k
If the balance was 50/50 day of deposit that portfolio would be worth $181.5k
So the market making activities did 30k+ better than the target risk profile.
At the end of Q1 all DIF's USD and DASH was worth $556k while we began the quarter with $90k.
The DAO distributed 2,350 Dash to the DIF in Q1. Expenses in Q1 included all of 2021 directors fees and was just over $50k.
The price of Dash was 86.98 at the beginning of the quarter and ended at 233.51
This balancing and market making strategy yielded an effective sell price of 219.57 of DAO distributions.
These activities are to support an item of our vision:
"Manage reserves for the network in a manner that balances the needs to grow the reserves, and to limit risks"
Market making is also intended to support another vision item:
"Seed the liquidity and growth of emerging Dash financial markets or products"
I also put a teaser on twitter
There is a hedging strategy in effect. That strategy is 70% USD and 30% DASH. Assets are balanced every time there is a DAO distribution or a contract signed for an outlay. (No outlays in Q1) The DIF does not believe it has access to gold markets that are liquid enough to be useful. We have been unsuccessful at securing access to broader markets.
Our liquid (the exchange) balance uses Hummingbot to target 50/50 Dash/USD. That means the overall balancing strategy could be 40%/60% USD/Liquid Balance.
@Walter asked me to evaluate the effectiveness of Humming bot I found:
At the end of Q1: The DIF's liquid (liquid the exchange) balance was worth $215k
If the balance was 50/50 day of deposit that portfolio would be worth $181.5k
So the market making activities did 30k+ better than the target risk profile.
At the end of Q1 all DIF's USD and DASH was worth $556k while we began the quarter with $90k.
The DAO distributed 2,350 Dash to the DIF in Q1. Expenses in Q1 included all of 2021 directors fees and was just over $50k.
The price of Dash was 86.98 at the beginning of the quarter and ended at 233.51
This balancing and market making strategy yielded an effective sell price of 219.57 of DAO distributions.
These activities are to support an item of our vision:
"Manage reserves for the network in a manner that balances the needs to grow the reserves, and to limit risks"
Market making is also intended to support another vision item:
"Seed the liquidity and growth of emerging Dash financial markets or products"
I also put a teaser on twitter
We have this in the US jurisdiction.
The DIF is working hard to expand into more Jurisdictions. Next up: Brazil.
@vazaki3
The DIF is working hard to expand into more Jurisdictions. Next up: Brazil.
@vazaki3
Dash Q1 report is out. Please find the video at
the slides can be found here
and welcome Valkyrie to our Dash community
the slides can be found here
and welcome Valkyrie to our Dash community
The quality of a masternode also depends on the bandwidth it can serve.
This measurment is not made in the masternodes, and all masternodes are considered equal, regardless the bandwidth they provide to the dash network.
DIF should invest on bandwidth coins.
This measurment is not made in the masternodes, and all masternodes are considered equal, regardless the bandwidth they provide to the dash network.
DIF should invest on bandwidth coins.
...and DCG shoud read the packet-forwarder software of Helium and include its code into dash masternodes.
Applications to be a candidate to be a DIF supervisor will be accepted starting next week from June 7th to June 25th.
Applications can be downloaded here. Completed applications should be emailed to [email protected].
All six supervisor seats are up for election. Currently, the sixth supervisor seat is vacant.
Applications can be downloaded here. Completed applications should be emailed to [email protected].
All six supervisor seats are up for election. Currently, the sixth supervisor seat is vacant.
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The download link is giving me:
NO TEXT CHANNELS
You find yourself in a strange place. You don't have access to any text channels, or there are none on this server.
NO TEXT CHANNELS
You find yourself in a strange place. You don't have access to any text channels, or there are none on this server.
Thanks Stan,
I edited the link above to one that works, and I'm including the link below for good measure.
I edited the link above to one that works, and I'm including the link below for good measure.
I just submitted my application for DIF supervisor. I included a campaign statement with the submission.
If elected I will continue to serve the DIF as I have the past year. I'm not expecting on doing anything significantly different. Over the next two years, I would hope that the DIF could bring on employees. I think it's best if the employees aren't supervisors. I would like the DIF to have $1M of liquid assets before bringing on an employee.
Please consider voting for me in the election next month.
I think we'll have a lot of good options this election and remember this is an approval style election so vote for everyone you think is qualified and helpful. If you would like to run, your application is due by Friday.
If elected I will continue to serve the DIF as I have the past year. I'm not expecting on doing anything significantly different. Over the next two years, I would hope that the DIF could bring on employees. I think it's best if the employees aren't supervisors. I would like the DIF to have $1M of liquid assets before bringing on an employee.
Please consider voting for me in the election next month.
I think we'll have a lot of good options this election and remember this is an approval style election so vote for everyone you think is qualified and helpful. If you would like to run, your application is due by Friday.
I support your re-election. Could you open a fresh thread just for DIF nominees and copy above text there? I can sticky the post. Or would
you rather Forum staff initiate such a thread? Forum is a good spot to announce candidates. so it's all on one thread.
Thank you @AgnewPickens for creating that thread.
Dear community,
Do you have any knowledge about substack providing a good newsletter service.
We would want a free newsletter obviously, and substack worked with my testing. Is there any service that is better?
Dear community,
Do you have any knowledge about substack providing a good newsletter service.
We would want a free newsletter obviously, and substack worked with my testing. Is there any service that is better?
Just for clarification. The DIF is 10% owner of Astound, the parent company of Dash Retail and Switchly.
We have the documents:
We have the documents:
Two questions if you don't mind...
1. Does the DIF has an estimate of the valuation of the ten percent stake in Astound Group Ltd?
2. How much in legal fees did the DIF outlay in order to acquire the equity stake?
1. Does the DIF has an estimate of the valuation of the ten percent stake in Astound Group Ltd?
2. How much in legal fees did the DIF outlay in order to acquire the equity stake?
@Geert
1) I'm expecting that this acquisition will be recorded on our books as $300k of illiquid private equity. Of course this could change.
(In general we expect to review valuations of all equity at the end of Q2 every year. We will only report a change in valuation if there is a fundraising round that closes.)
2) I reviewed Q4 emails and our books. I'm not able to locate a specific charge for this acquisition. A UK lawyer was identified to help, but our director (the lawyer one) seems to have taken care of it.
When I prepared the Q4 report there was an expense from a law firm I did not recognize, I mistakenly thought this was associated with Astound. After reviewing emails I've determined that this expense was unrelated to Astound as it was billed in Q3 and paid in Q4. It was invoiced before the discussion with Ash.
For clarity the Astound acquisition was not a purchase by the DIF. Previous proposals, from Ash, said the equity would be transferred when possible. We had to legally treat this as a gift as Ash was under no legal obligation to transfer the equity.
1) I'm expecting that this acquisition will be recorded on our books as $300k of illiquid private equity. Of course this could change.
(In general we expect to review valuations of all equity at the end of Q2 every year. We will only report a change in valuation if there is a fundraising round that closes.)
2) I reviewed Q4 emails and our books. I'm not able to locate a specific charge for this acquisition. A UK lawyer was identified to help, but our director (the lawyer one) seems to have taken care of it.
When I prepared the Q4 report there was an expense from a law firm I did not recognize, I mistakenly thought this was associated with Astound. After reviewing emails I've determined that this expense was unrelated to Astound as it was billed in Q3 and paid in Q4. It was invoiced before the discussion with Ash.
For clarity the Astound acquisition was not a purchase by the DIF. Previous proposals, from Ash, said the equity would be transferred when possible. We had to legally treat this as a gift as Ash was under no legal obligation to transfer the equity.
With all due respect to the DIF supervisors, whose efforts I greatly appreciate, I have to register my unhappiness that they decided to accept a gift of equity from Ash. Both Switchly and DashRetail are not real products with actual users* IMHO and so both are worth exactly zero. Here is the math I come up with:
0 + 0 = 0
0 * 0.1 = 0
So the DIF's investment in Astound IMHO is worth zero. Please understand that I am not posting this to be malicious. I know that people make mistakes and no one is perfect.
* DR has no top-level web site and no user agreement and subsequently no terms of service. AFAICT there has been no update to the software at app.dashretail.org for over a year. Switchly appears to be non-functional. Maybe some brave person can try sending some coin there and see if they get anything back.
0 + 0 = 0
0 * 0.1 = 0
So the DIF's investment in Astound IMHO is worth zero. Please understand that I am not posting this to be malicious. I know that people make mistakes and no one is perfect.
* DR has no top-level web site and no user agreement and subsequently no terms of service. AFAICT there has been no update to the software at app.dashretail.org for over a year. Switchly appears to be non-functional. Maybe some brave person can try sending some coin there and see if they get anything back.
Thank you for expressing your displeasure @Geert.
Two facts are very relevant and strongly influenced the DIF's acceptance of this equity.
1) The DAO voted to fund Dash Retail as recently as last year.
2) Supervisors first and foremost duty is the network. Supervisors then have a duty to act in the interest of the DIF as an agent to support the network.
Thus the only question in front of the supervisors was "is the DIF with equity in DAO supported astound better than DIF without equity in astound?"
I hope this reasoning is understandable and relatable, even if specific community members may disagree.
Two facts are very relevant and strongly influenced the DIF's acceptance of this equity.
1) The DAO voted to fund Dash Retail as recently as last year.
2) Supervisors first and foremost duty is the network. Supervisors then have a duty to act in the interest of the DIF as an agent to support the network.
Thus the only question in front of the supervisors was "is the DIF with equity in DAO supported astound better than DIF without equity in astound?"
I hope this reasoning is understandable and relatable, even if specific community members may disagree.
The election is now live. If you would like to learn about the candidates and/or vote please visit
dashwatch.org
Also note there is a separate pinned candidates thread here at the forum.
Lots of great candidates on that list!
Dash Watch - Elections
Also note there is a separate pinned candidates thread here at the forum.
Lots of great candidates on that list!
OK, I see speculation surrounding our election and recent events. I'm going to put out unofficial numbers right here, right now. My intention is to get facts out and hopefully reign in speculation a bit.
So I'm beginning preparing our Q2 report. Our bookkeeper has not had time to review any of this, hence, unofficial.
Equity Positions:
Note: I am in the process of going thorough and trying to update the valuation of DIF equity. This is an involved process that involves many emails with our partners. This process is complicated by the fact as this is our (the DIFs) first time we haven't really settled on what the bar is for reporting a valuation change.
Ready Raider $47,112.91
--in Q2 we determined that we should report the value of this equity as $47,112.91 as this was the DASH value when ReadyRaider received it.
Quadency $100,000
--Not aware of a valuation event, currently investigating
Valkyrie $100,000 invested
--With the close of their series A we expect this is valued at a good multiple just waiting on exact numbers
CrayPay $100,000
--It's verified that there is no valuation event, but a significant one is planned
--DashDirerect is still soon, and this is verified by more than one source
Q1 we had no investment outlays
Q2 we had two investment outlays:
88i $250,000 invested in this Brazilian company.
--Subsequent investment has come in valuing our investment much higher, supervisors will need to decide how to report this. It might be better to wait until they close a round.
TBA $150,000 invested (Brazil)
--I just talked to this partner and they are not ready to announce until they close the round. The DIF was early and an equal partner in this round.
Astound/Dash Retail
--We also acquired 10% of the shares of Astound that owns Dash retail. The DIF did not directly pay for this equity. It was legally a gift in exchange for previous DAO distributions.
All these investments we expect to have a direct application of Dash in the business models. Some are announced like DashDirect other's are not announced and we defer to partners to decide on how best to announce their products.
Liquid assets as June 30 2021
$353k USD and 1960 Dash spread between trezor/Liquid Exchange/and our US Bank account
(and) We have 2.7 BTC tagged to be used for a crypto specific investment (not equity)
We also made a $25k non equity investment that is short term (3 month horizon) and will pay interest over that term.
So I'm beginning preparing our Q2 report. Our bookkeeper has not had time to review any of this, hence, unofficial.
Equity Positions:
Note: I am in the process of going thorough and trying to update the valuation of DIF equity. This is an involved process that involves many emails with our partners. This process is complicated by the fact as this is our (the DIFs) first time we haven't really settled on what the bar is for reporting a valuation change.
Ready Raider $47,112.91
--in Q2 we determined that we should report the value of this equity as $47,112.91 as this was the DASH value when ReadyRaider received it.
Quadency $100,000
--Not aware of a valuation event, currently investigating
Valkyrie $100,000 invested
--With the close of their series A we expect this is valued at a good multiple just waiting on exact numbers
CrayPay $100,000
--It's verified that there is no valuation event, but a significant one is planned
--DashDirerect is still soon, and this is verified by more than one source
Q1 we had no investment outlays
Q2 we had two investment outlays:
88i $250,000 invested in this Brazilian company.
--Subsequent investment has come in valuing our investment much higher, supervisors will need to decide how to report this. It might be better to wait until they close a round.
TBA $150,000 invested (Brazil)
--I just talked to this partner and they are not ready to announce until they close the round. The DIF was early and an equal partner in this round.
Astound/Dash Retail
--We also acquired 10% of the shares of Astound that owns Dash retail. The DIF did not directly pay for this equity. It was legally a gift in exchange for previous DAO distributions.
All these investments we expect to have a direct application of Dash in the business models. Some are announced like DashDirect other's are not announced and we defer to partners to decide on how best to announce their products.
Liquid assets as June 30 2021
$353k USD and 1960 Dash spread between trezor/Liquid Exchange/and our US Bank account
(and) We have 2.7 BTC tagged to be used for a crypto specific investment (not equity)
We also made a $25k non equity investment that is short term (3 month horizon) and will pay interest over that term.
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I'm happy to report to the community that the 2.7 BTC which was set aside in Q2 is for the purchase of RUNE. This purchase has already started and will be completed in coming weeks.
This RUNE will be used to help establish DASH as an asset that can be traded on THORChain. Most likely, after Dash is available on THORChain, the RUNE owned by the DIF will be used to add liqudity to a DASH/RUNE pair.
This RUNE will be used to help establish DASH as an asset that can be traded on THORChain. Most likely, after Dash is available on THORChain, the RUNE owned by the DIF will be used to add liqudity to a DASH/RUNE pair.
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