Hi everyone, I don’t know if this is the right section, otherwise I apologize in advance.
I have a preliminary idea for some sort of “crypto” hedge fund that day-trades based on algorithms I developed (I’m a data scientist with both academic and industry experience).
Given that the main problem at the moment is raising funds, I would like to understand if it is possible to create a sort of DAO that issues a number of tokens to finance itself and uses the proceeds for trading operations.
The idea is to reward token holders with a percentage of weekly profits (if any) on a weekly basis, while keeping a percentage in the treasury.
I realize that the crypto world is full of scams and that my embryonic idea may have some critical issues, but I’ll show you the scenario I have in mind:
- 1 million tokens are issued at a price of 1 dollar;
- I hold 900k tokens;
- 100,000 tokens are therefore on the market;
- interested parties can participate with at least 10 dollars (10 tokens);
- subscriber addresses are written on the blockchain;
- a percentage of profits (if any) are automatically sent weekly into stable coins via smart-contract.
The currently non-negotiable points are:
- management, especially in the initial phase, is completely centralized (I am the only person responsible);
- algorithms and AI models used for day-trading are proprietary (developed by me)
- day-trading would take place (already takes place) on cex to minimize fees.
My questions are:
- is the DAO the best way to raise funds and manage the accounting?
- do similar projects already exist?
- does anyone have any experience with this?
- could my project be eligible for a Foundation’s bounty?
I apologize for the inaccuracies in the case and await your suggestions.