Below is a list of all of the changes that are coming. Some of these changes are happening due to TokenSets improving its smart contracts and the others are changes specifically related to my sets.
Also, I want to say thank you to everyone who participated in the Twitter polls and gave feedback about what sets you would like to see in the future. Many of these changes that I will be making are in direct response to the feedback I have receive from the Moonshot and general TokenSets community.
- Fees Structure Change > The folks at TokenSets will be making changes to the smart contracts in the form of new fee structures: performance-based and streaming fees (the entry fee system will continue as well). The performance-based fees will more closely align to the set holders benefit. The streaming fee will be similar to an annual fee. The smart contract changes will require new sets to be created, which I will cover in more detail below.
- Upgrading My Sets > Due to the changes to the smart contract, all social traders sets will need to be recreated to inherit these changes. My plan on handling this contract change will be as follows: I will blast my social media as much as possible ahead of the change so my set holders are aware of the change. Once the new sets have launched my set holders will need to divest (sell) the old set and purchase the new set. There will be no entry fees after the change which will allow my set holders to transfer their set holdings to the new sets without having to pay any fees. Once the new sets are in place I will place my old sets in their risk asset (either BTC or ETH) and call a function on the smart contract that will set the owner address to null. This is essentially “sunsetting” the set and turning it into a buy-and-hold for anyone who continues to hold the old sets tokens.
- Changes to My Sets >These are changes that I will be making as a result of feedback I have received from the you, the community, and what types of sets you all are most interested in.
- Changes to My Sets Cont.>First and foremost, my “ETH Moonshot X” set is here to stay. If you love this bot-only set, rest assured that it will live on. I continue to have high hopes for it and am excited to see how it performs over the next few years. The second most important change is that I will be sunsetting both of my BTC Moonshot sets. The primary reason is that I have a limited number of sets I can have, and want to make room for other sets that the community is more interested in. That leads to the last changes that will be made, which is that I will be adding two new sets: ETH Moonshot X + Discretionary and Candlestick Price Action.
- Changes to My Sets Cont. #2> This means that after the new sets are launched the three sets that I will be running are ETH Moonshot X (same as the current set), ETH Moonshot X + Discretionary (this is the Moonshot algorithm but also allowing me to override the bots decisions if I am in strong disagreement using my own discretionary analysis), and finally my Candlestick Price Action set which is a purely discretionary trading set. I will post separate Medium articles describing the two new sets in more detail.
- New Fees > The new fee’s for my sets, based on the new performance-fee structure, will be as follows: 7% for Moonshot X, 10% for Moonshot X + Discretionary, and 15% for Candlestick Price Action. I came up with these numbers by using the standard 2/20 rule (2% annual fee and 20% performance fee) and then discounting from there based on how “proven” each strategy is. As the performance of these sets are realized over time, fees will be increased if a set is showing out-performance. I plan on keeping the entry fee at 0% to begin but that is also subject to change based on either #1)out-performance or #2) if people are gaming the system by jumping in and out of a set to avoid performance fees. I have not decided on a streaming fee but will likely be between 0 and 1%.
- Summary > The timing of these changes will be aligned with the release of the new smart contracts. The folks at TokenSets have laid out a specific release date but from what I understand the it is coming very soon. In the meantime I will continue to trade my 3 sets as normal.