Introduction to JBlock Capital
The last few months have been super exciting in crypto, not only for me, but for many of my friends who have taken their first steps into Web3. However, most of my friends’ crypto holdings consist of “pseudo” funds held on Coinbase or Binance. Whenever I see this, I cringe a little inside knowing that they’re missing out on additional yields from Defi protocols.
Until recently, I just told my friends to look into a hot wallet and gave them a quick explanation of Defi. However, just a few days ago, I explained staking rewards to a friend as “imagine holding a stock but never receiving the dividend. Well that’s basically what’s happening right now when you don’t maintain ownership of your ETH.” Immediately, he was disgusted and wanted to learn how to capture these “dividends.” As I began my basic Defi spiel, he interrupted me and said, “What if I pay you to do it for me?” Initially I laughed it off, but after realizing he wasn’t joking, a serious thought came to mind. What if I did it for him?
Introducing JBlock Capital. A crypto fund for earning yields on top of ETH you deposit. The goal at the end of the day is to always maintain full (long) exposure to users’ deposited ETH with safer strategies and take riskier bets with the yield the ETH generates. This would maximize the ETH denominated returns for investors. Ideal investor candidates are those who hold “Blue Chips” already on a platform that’s not giving them any yield. With JBlock, maintaining full exposure to these “Blue Chips” while earning yield means investors should be better off in every way compared to what they were originally doing.
Depositing and Withdrawing: JBlock works pretty similarly to that of a mutual fund. At the start, one share is worth 0.1 ETH. Investors can deposit as much ETH as they want and will receive their corresponding number of shares. Each month, I will calculate the total portfolio value, and divide by shares outstanding to find how much ETH one share is worth. Investors can withdraw or deposit new funds at the end of each month.
Fees: I will be taking a 20% monthly performance fee ONLY on profits at the end of each month. In a given month, if the portfolio loses value in ETH terms, I will not receive payment.
Currently, I’m only opening up investments from friends and family. I have no idea where this will go, but I’m definitely excited for the future. I’ll be releasing, at the minimum, monthly updates on the current positions I’m in, performance figures, and strategies used during that month. Past achievements definitely are not indicative of future results, but my aim for the fund is to achieve a baseline APR of 50%. I’m optimistic that I can accomplish well over that.
This was a super high level overview of JBlock but if you’re interested in learning more specifics, message me on twitter @juanbugeth. To all my investors, thanks for believing and trusting in me.
Thanks for your time — Juanbug.
