Which address to set a Trust-line to?
This: rExAPEZvbkZqYPuNcZ7XEBLENEshsWDQc8
How could I buy some XMM?
You can either buy it from the market, or simply use the 'Convert' button in ripple client.
Do NOT send any payment directly to the issuing address or hotwallet.
How could I cash out my investment in XMM?
You can create a sell offer in the order books, or simply use the 'Convert' button.
Please do NOT send any XMM directly back to the issuing address or hotwallet.
Is XMM a new coin or currency?
No... XMM only represent your share to a pooled fund. The fund is a basket of currencies (more accurately, some XRP and IOUs). In short, Xmm is more similar to an ETF.
How many units in total will be isuued?
There's no fix amount of it. New units will be issued if there's market demand.
Numbers of unit in circulation may also decrease if holders sell them back to the Hotwallet.
How to calculate the underlying value of XMM?
Value of Xmm = (Value of the Fund) / (Xmm in circulation)
- Xmm in circulation = Xmm issued by coldwallet, minus Xmm retained in hotwallet.
- Value of the fund = Sum of all IOUs and XRPs in hotwallet and trading accounts.
You can see the address of hotwallet and trading accounts at 'Ripple' page of this blog.
Will the price of XMM always equal to its value?
Off course Not.
Xmm could be traded freely inside ripple. Hence its price could fluctuate above or below its underlying-value depends on market condition.
There will be a small portion of the Fund being allocated for creating offers to buy back some XMM at a level closed to its value. This will provide some support for Xmm prices but it's not a solid floor.
How much is your commission for managing the Fund?
No commission or fee will be charged.
Will the Fund pay out dividend?
No, all the profit will be retained in the accounts to grow its value.
The holders could enjoy the profit through the price appreciation of Xmm.
If you like the feeling of dividend, simply sell a portion of your holdings when its price rise.
What are the risks investing in Xmm?
There are always endless possibility, here are some examples:
- This whole Xmm-project could be just a scam.
- Some hackers break into the wallet and steal away all the fund.
- Gateways may default, hence their IOU could become valueless.
- the whole Ripple Project may failed, burn away all the XRP and IOU.
- etc... (whatever you could imagine)
How can I be sure that you won't runaway with our money?
You can't... the only thing you have is my words of promise, that's it.
in Ripple, it's all about TRUST... so, invest in XMM only if you trust me.
Don't you have a company or domain?
No... I'm just a normal user of Ripple who see profit opportunity of market-making and think that being a market-maker could help to improve health of ripple ecosystem.
I never treat this as a business. I will dissolve the fund when I feel tired of managing it.
[last edited = 28/2/2014]
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