Five Mining Projects Kick-starts: Investors Received 177,776 DADA as Rewards
Hello and happy new year! We are proud to say, in Q4 2020, we completed the raising and governance of 5 mining projects on DADA Finance.
A total of 459,000 USDT were raised through dd.mining.finance. All the fund managers have received approval from the investors to kick start the projects.
A DADA user, Luban Z, who put 206 USDT in the latest project, AntMiner T19–84T Mining Project, opened his portfolio and saw 336. 38151924 DADA token reward.
Now, this platform reward has turned him from an average investor to a voter, a constituent of this T19–84T Mining project.
Luban Z is one of the 11 DADA constituents who approved the capital unlock for the last two projects hosted on dd.mining.finance.
Right after the raises, DADA constituents executed their governance power, approving the initial inventory purchase and electricity bill coverage.
At the moment, the managed mining machine service Luban Z paid for is running well in the Zhundong Mining Farm in Xinjiang province, northern China.
As all five projects have passed the governance stage, the constituents are anticipating the redemption at the end of this year.
Here is a breakdown of the funds raised for each project.
58800 USDT APY 18% WhatsMiner M20S Hedged Mining
40200 USDT APY 15% AntMiner T19–84T Mining Project
60000 USDT APY 15% BTC Hedged Mining
200000 USDT APY 20% ETH Managed Mining Project
100000 USDT APY 12% BTC Managed Mining Project
A Clear View of the Portfolios and Project Strategy
Here are examples of what the investors see in their portfolios. On top of the investment return (it is showing the return in real-time), they also receive DADA rewards per their shares.
Scroll down, the Project Details gives an overarching business plan over the 12 months, with details on where the machines will be managed, the fund management, the risk analysis.
The AnMiner T19–84T Mining Project
Fund Manager Name
Xiaozhen Ding
Project Details
We will be directing the profits generated by the mining machines to the multi-sig wallet address, once the soft cap is hit within the time limit.
Users do not receive the mining machines, instead, the machines will be managed at Zhundong Mining Farm in Xinjiang. The investors will receive their shares of the profit generated by the machines on the promised date.
Project Strategy
Currently, an AntMiner T19 costs $3000. This project budgets $60,000 as the soft cap.
50% of the funds will be used on inventory and operation, the other half will be used in hedging, which will then be fed into paying for the operation.
The project life cycle is 12 months. APY 15%.
The WhatsMiner M20S Hedged Mining Project
The project details and strategy give a breakdown of the cost of the project, and how the fund will be used in hedging.
Project Details: the machines are running in good condition. After purchase, the hash rate will be distributed to the assigned miner code. The daily profit T will be delivered to the assigned Bitcoin wallet on the next day. The electricity bill for the whole year remains 0.34 Yuan/Kilowatt.
Project Strategy: taking into account the mining difficulty fluctuation, leaving much room in the calculation:
The yearly production capacity: 7.5 BTC.
Annual profit: 1730,000 USDT
Cost: 80,000 USDT
Net profit: 93000 USDT
Hedging Position: Hedging the Full Production Capacity with Short Futures — sell 7.5 Bitcoins for fiat and secure the current market value. Part of the fiat will be used in electricity bill payment, and part of it will be counted as the project’s return.
Risk Analysis: Low-cost, highly manageable
Governance Completed — DADA constituents decided whether and how to spend the money
The latest status on the AntMiner T19–54T Project:
Right after the raise, constituents approved to unlock 80% of the funds for machine purchase, and 20% for paying the electricity bills.
Progress 1:
Mining machine inventory payment for 15 AntMiner T19–84T will be delivered on Dec. 25th; hedging will be applied.
Progress 2
Electricity bills for the managed mining machines will be paid on Dec. 30th. By then, all the pre-paid fees are covered. Electricity bills generated during the operation will be paid with profits.
The Latest Progress of the WhatsMiner M20S Hedged Mining Project:
The constituents approved to unlock 80% of the funds raised to purchase 47 WhatsMiner M20S. The machines are wired into the mining pool with assigned miner code.
Next, they approved to unlock 20% of the fund to cover the operational fees. Typically, for mining projects, the profits from Bitcoin mined or from hedging are sent to a wallet, and funds in the wallet cover costs like electricity bills.
In this case, the fund manager assigned a wallet to receive profit and pay electricity bills. An additional 20％ is needed to cover the bill for the whole year.
What To Expect Next
DADA is opening liquidity pools soon to support staking and swapping. DADA token is both your voting power and an earning asset. Stay tuned. New projects are launching soon this month.
