Executed

Management - Add Delegated Trader #10


ID 618808...4066

ID 618808...4066

Proposed on: Aug 1st, 2022

Proposed on: Aug 1st, 2022

Votes

Actions

Type

Address

Details

Custom

0x4D0F...451f

transfer(..)

Custom

Account

0x4D0F...451f

Method

transfer(..)

Proposal

The modification to be made (e.g. add new DAO proposer):

Add Telegram user @Eggwards as a delegated trader to the AGFI team.

Actions:

  • Ed KYC and signs Delegated Trader agreement with DAO Custodian.
  • Establish a shared wallet between the DAO Custodian and Ed.
  • Transfer 50% of the current AGFI treasury value to the shared wallet.
  • Release 10,000,000,000 AGFI to aggregatedfinance.eth to pay Ed on a bi-weekly basis according to the rules defined below. This amount will be paid to Ed until either the supply is exhausted or a second vote is performed to cancel the agreement with Ed.

The purpose of the modification, and a justification as to requiring the modification to be made:

Statement provided by proposed trader:

I'm an experienced Computer scientist and have been working in the sector for several years. I've been learning and testing out crypto for almost 8 years and for the past 3 years I've specialised in making bots for various financial tasks several involving crypto and trading. Over these years I've built a keen interest in Blockchain and also a good eye for trading. Recently I've maintained an average of around 5% profit weekly which will increase when the bull runs start.

I'm putting this proposal forward because I believe I can help grow our treasury and build a sustainable profit stream for all AGFIers.

I believe managing around 50% of the current treasury will yield the best results.

Normally I trade for long term profits but due to recent market volatility I'll be using bots and leverage trading to make profits from smaller market fluctuations. Then as markets settle I'll move more towards safer more long term investments once again.

I'll personally be active and ready to react to any market changes as well as having bots and safety measures in place to catch large drops or unexpected events while I'm not actively checking the market. I'll be using a more aggressive style of trading with several daily trades and very short term leveraged positions.

While the treasury is low I'm happy to accept a percentage of 500m AGFI weekly. The percentage will be calculated as follows: If I make profit over 0% then I get full 500m but for any 1% loss I take 10% cut from payment. Up to a maximum of 10% loss where I'd lose 100% of the pay and wouldn't get any AGFI. This is because being payed when nothing was earned would negatively impact the value of AGFI and be dishonourable. Further more I won't be taking any commission on profits until we hit 500k in the treasury to maintain as much money in investments allowing for faster growth.

https://github.com/aggregatedfinance/agfi-dao/issues/10

Votes
Status