What is BCF

Borgias Capital Fund (BCF) is a closed-end crypto, forex, stocks and commodities hedge fund, built on an Ethereum smart contract. The fund invests and trades in the top 100 most liquid cryptocurrencies.

The fund is pegged against USD. At the end of each month, the USD profits will be converted in ETH and sent to the token holders after deducting a performance fee. The fund will trade on Bittrex, Bitfinex, Kraken with USD/USDT being a base currency. Trades are monitored 24/7.

The fund charges a performance fee of 20% on the profits made and 80% of the profits will be shared back to the investors in ETH terms. At the moment (not according whitepaper but a gesture to investors) no fees will be taken if fund does not perform above 30% Conservative aim is 15% per month.

The fund is managed by Rohan Rathod and started with a group of 65 investors from his telegram channel where he posted his insights in day trading. Trading team has expanded with someone to watch trades overnight and new traders are being trained.

There were 3 ICO rounds, after each round new tokens where minted. Only BCF tokens are valid for dividends. RCF tokens with contract addresses 0x4e1d9a76c688a6dfca4c692f1b9c5be2d2d88311 and 0x0dc28ced73c972a7b4759192c9fd000dbb05f715 are now useless. Don’t buy the old ones if see them for sale somewhere.

I got a lot off questions where to buy BCF. Most holders are holding, there is very little trade in BCF, but if there are sellers, they sell on ForkDelta. But most for sale are at huge premium prices. Long term that might not be a concern, but when legal fund start to happen as for now current fund is most likely paid out at nav and we all have to enter the new legal fund.

Payout Structure   Dividend Calculator   Current Performance   Dividend Yields   BCF and other crypto appreciation   
Roadmap   Transfering BCF from and to Forkdelta   

According to the original white pape the fund will charge a performance fee of 20% on the profits made and 80% of the profits will be shared back to the investors in ETH as dividends. At this moment a performance fee of 10% will be charged on performance below 20%, if above 20% fee.

The first 3 months profit was 50/50 split between dividend pay-out and fund growth. At the moment a 50/50 split will only be done if fund performs above 50%. All to Rohan's discretion to change it.

In case of a monthly loss, the management team shall not charge any fees and no dividends will be paid that month.

Some basic profit examples and dividend.

Profit	Dividend		Profit	Dividend		Profit	Dividend
25% ($2,262,864.25)	$2.2598		$2,500,000	$2.4966		$2,503,391	$2.50
15% ($1,357,718.55)	$1.3559		$1,000,000	$0.9986		$1,001,356	$1.00
9% ($814,631.13)	$0.9152		$750,000	$0.8426		$445,047	$0.50
5% ($452,572.85)	$0.5085		$333,333	$0.3745		$222,524	$0.25
3% ($271,543.71)	$0.3051		$150,000	$0.1685		$89,009	$0.10
1% ($90,514.57)	$0.1017		$50,000	$0.0562		$44,505	$0.05

BCF dividend payouts are calculated by this formula (Profit * 0.80 ) / 801085.00000000 = payout per BCF.
20% is taken of montly profit as performance fees when fund performs above 20% else 10% will be taken. The remainder is distributed back to the investors.

You can calculate what you would earn with your BCF and also how many profit is needed to get a certain amount of profit sharing by entering the numbers below and press "Calculate".

Profit BCF makes in a month	$
Amount BCF you own
Total dividend you are aming for in a month	$
Display currency	USD EUR GBP RUB CAD JPY AUD CNY KRW NZD ZAR CHF SEK MXN SGD HKD NOK TRY INR BRL DKK PLN TWD THB MYR ILS

Fund start in September : $9,051,457.00
Current fundsize : $9,254,790.00

Latest update:

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Update - 20th Sept , 2018

The NaV of the fund as of today stands at $9,254,790 up by 2.24% for the month.

Had added more shorts when BTC broke down yesterday, but when it spiked up, there was an additional loss on the short positions open.

The fund currently doesn’t have any positions open as the direction remains undecided.

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Updates are taken from Rohans Crypto Update Telegram channel (updated on Monday and Thursday)

Return of investment

Current total profit this month: $203,333.00.
Related to fund at the beginning of this month ($9,051,457.00) Profit margin 2.25%
Related to fund since yesterday ($9,278,648.00) Profit margin -0.26000000000001%
Related to fund after ICO closed ($583,814.00) Profit margin 34.83%

Current BCF Fund size

Total fund at the moment		BCF NaV per token		5000 BCF
9,254,790.00	USD	11.55281899	USD	57,764.09494623	USD
7,989,623.19	EUR	9.97350242	EUR	49,867.51211070	EUR
38,876.87	ETH	0.04853026	ETH	242.65131187	ETH
1,380.80	BTC	0.00172366	BTC	8.61829279	BTC

Current profit ( $203,333.00 ) related to next dividend payouts

Based on current profit, this is what we will receive at next pay outs:

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BCF dividend with $203,333.00 profit
1 BCF		250 BCF		2000 BCF		5000 BCF
0.22843980	USD	57.10995088	USD	456.87960703	USD	1,142.19901758	USD
0.19721117	EUR	49.30279215	EUR	394.42233723	EUR	986.05584308	EUR
0.00095961	ETH	0.23990343	ETH	1.91922744	ETH	4.79806860	ETH
0.00003408	BTC	0.00852070	BTC	0.06816557	BTC	0.17041391	BTC
0.40012151	XRP	100.03037675	XRP	800.24301400	XRP	2,000.60753501	XRP
0.00379606	LTC	0.94901441	LTC	7.59211526	LTC	18.98028814	LTC
0.00112274	DASH	0.28068430	DASH	2.24547437	DASH	5.61368593	DASH
0.01217386	NEO	3.04346625	NEO	24.34772997	NEO	60.86932493	NEO
0.01823434	BCF	4.55858484	BCF	36.46867872	BCF	91.17169681	BCF

To get a $1000 monthly dividend you need 4,378 BCF tokens with $203,333.00 profit.
With 5000 BCF profit needs to be $178,018.89 to get a $1000 monthly dividend.

Dividend yields are the ratio between annual payment(s) and price.

Indicated Annual Yield last dividend ($0.253957 per BCF)
The indicated annual yield is the ratio between annual dividend and token price. ((last div * annual payments) / price) x 100%
Indicated yield with dividend day price ($11.58):	26.314158%
Indicated yield with current price ($12.53):	24.325414%
Indicated yield with ico price ($4.64):	65.678617%
Average Annual Yield ($1.340078 per BCF)
The average annual yield is the ratio between the dividend average of last 12 months and token price. ((avg dividend * annual payments) / token price) x 100%
Average yield with dividend day price ($11.58):	138.854104%
Average yield with current price ($12.53):	128.359932%
Average yield with ico price ($4.64):	346.571817%

What does a 24.33% yield mean? Simple you need 100 / 24.33 = 4 years and 2 months with the same dividend to earn your investement back if you buy the tokens now with current price. The higher the yield the faster you earn back your investement.

 

Would you have done better investing in the big crypto coins instead of buying BCF?
Table below gives an overview if you had the choice to invest $1000 at the ICO ending or any given day.

Crypto	Open price	Nr coins for $1000	Current price	Current $ value	percentage%
BTC	$8,789.0400	0.1138	$6,702.4986	$762.5973	-23.74%
DASH	$641.4600	1.5589	$203.4669	$317.1934	-68.28%
ETH	$465.9700	2.1461	$238.0539	$510.8782	-48.91%
LTC	$88.9400	11.2435	$60.1782	$676.6154	-32.34%
NEO	$38.0400	26.2881	$18.7648	$493.2905	-50.67%
XRP	$0.2529	3,953.9132	$0.5709	$2,257.3922	125.74%
BCF ICO price	$4.6400	215.5172	$12.5280	$5,299.2886*	429.93%

* Dividend included (Value BCF + total dividend)

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If you want to compare BCF prices form a specific date, just select one and click the 'Performance' button
   

Running the fund currently is mainly to build the trust and relations to migrate slowly to a legal fund structure.

The fund is working into setting up a legalized fund in Singapore. Paperwork already in progress. This legal fund will also trade forex, stocks and commodities. Legal fund planned to start around May 2018, but June is more likely at the moment. It is also still unclear if there will be a new investment round when legal fund will start but it will not happen before September 2018. June 14th 2018: The fund will continue to operate as it is until legal clarity on crypto in different jurisdictions.

The legal fund plans to generate hedged risk-adjusted monthly returns for the investors and plans on being one of the leading crypto funds in future with a total fund size over 100 million in a few years.

If you send BCF to a wallet without BCF or clear out a wallet you need around 400,000 gaslimit. This is beyond ForkDeltas 250,000 limit If you want to send them to or from Etherdelta / Forkdelta you need to interact with the Etherdelta smart contract through MyEtherWallet. In this article you can read how. Go the the "Withdraw the hard way" and "Deposit the hard way" paragraphs.