Dmitry Perepelkin

1.Investment process 2.Investment strategy Active Fund: - Strategic Asset Allocation (SAA) Return profile - Lending Inception Fund establishes strategic asset allocation profile which projects risk/return scenarios based on both current and anticipated market volatility. SAA determines portfolio segmentation (e.g Lending, Index investment, Trading). Strategic asset allocation is regularly monitored and revalued on a quarterly basis and during severe market volatility. The strategic asset allocation allocates various weightings to the different blockchain markets and optimises those weights to reach portfolio’s risk / return targets. - Tactical Asset Allocation (TAA) Margin funding via such platforms as Bitfinex, Poloniex, Liquid. This investment vehicle generates positive returns and has almost 0 risk as collateral provided by borrowers protects investments. - Index Tracking - Futures hedging/speculation Portfolio hedging via futures contracts (CME + CBOE) via Interactive Brokers. Speculation during downtrend. - Arbitrage Both qualitative and quantitative analysis is applied by the Portfolio Manager. Then the team proceeds with a due-diligence to assess the merits and risks of the potential investment/asset - rating is produced in accordance with Inception Fund’s methodology. A funds monitoring is performed on an ongoing basis by the portfolio manager. Arbitrage opportunities as a result of market inefficiency and price fluctuations. This strategic wing requires complex bot to perform arbitrage on exchanges. - ICO/STO/Private investments Traditional equity/security investments. Lock-up periods apply for various investments. 3.Key metrics Lending - Investment horizon: 12 months Risk level: high Minimum investment: 50,000 USD Management fee: 3% (annual) Success fee: 25% (quarterly) High water-mark: Yes Hurdle rate: 1.5% (monthly) ICO/STO Lock-up: Yes (project specific) Managed accounts: Binance, Bitfinex, Kucoin, Kraken Interactive brokers 1 - US$ Index - US$ ICO/STO 750.000 US$ Arbitrage 250.000 US$ 900000,00 US$ Index ICO/STO Arbitrage Portfolio weighted return Min Average Max 1,4 % 2,65 % 6,15 % (From index fund) Projected return / month Division Portfolio initial share Min Average Lending 35 % 1% 3% Month Average Max (Min) Max 0 - US$ -,0 US$ -,0 US$ 4% 1 -,0 US$ -,0 US$ -,0 US$ 2 -,3 US$ -,3 US$ -,0 US$ Invest Fund: Index 45 % 2% 4% 10 % 3 -,8 US$ -,8 US$ -,7 US$ ICO/STO 15 % - - - 4 -,2 US$ -,2 US$ -,1 US$ Arbitrage 5% 3% 4% 5% 5 -,4 US$ -,0 US$ -,2 US$ 6 -,1 US$ -,2 US$ -,3 US$ Division Invest Fund: - Asset Picking (AP) Lending Futures Exposure to multiple crypto assets. Portfolio is diversified with different asset classes (e.g Top 100 by cap & investment rating). Portfolio rebalancing is applied manually. TAA implies tactical deviations under or above the strategic asset allocation (SAA). TAA underweighting is implemented by the portfolio manager and approved by 3 managing partners when market conditions are adverse. Underweighting will reduce the impact of market drawdowns by increasing cash (e.g USDT, TUSD, PAX, USDC) and reducing the exposure to risky assets in such periods.Trend following indicators are used to trigger exit signals. - US$ Inception Fund Portfolio return / month Min Average Max 7 -,6 US$ -,5 US$ -,0 US$ Lending 17.500 US$ 43.750 US$ 70.000 US$ 8 -,0 US$ -,3 US$ -,9 US$ Index 27.000 US$ 47.250 US$ 135.000 US$ 9 -,1 US$ -,5 US$ -,0 US$ ICO/STO - - - 10 -,7 US$ -,3 US$ -,4 US$ Arbitrage 7.500 US$ 10.000 US$ 12.500 US$ 11 -,4 US$ -,5 US$ -,4 US$ Total return / month 52.000,00 US$ 101.000,00 US$ 217.500,00 US$ 12 -,0 US$ -,2 US$ -,6 US$ HPR 36,9 % 104,7 % 18,2 % Прибыль без учета долгосрочных ICO/STO/Private инвестиций 1.Description (ICO/STO/Private) ICO/STO/Private implies early-stage, seed, angel round investments. All projects are specific and require thorough due diligence. DD is conducted by fund’s analyst and is confirmed/double-checked by investment officer who is responsible for the investment verdict. Own methodology to assess risk/return profile is applied. Every projects in the portfolio is monitored weekly and there is at least 1 direct contact with a management representative. Investors are informed on a monthly basis regarding current stage of project’s development/launch. 2.Strategy Projects are selected based on DD results. Only those projects that provide diversification, adequate risk/return profile are consequently selected to fund’s long-term portfolio. 3.Key metrics - Investment horizon: long-term Risk level: moderate-high Minimum investment: project specific Projected return: 20-100% (annual) Lock-up: Yes (project specific) Managed accounts: corporate wallets 1 1.Description (Index) Index is diversified with different asset classes and is composed of top 10, top 100, high risk assets by cap. Portfolio rebalancing is applied manually. Entrance to and exit from the market depend on market volatility and stop-loss orders, which are placed when any trade is initiated. Both fundamental and technical analysis are applied to determine optimal market timing and price in order to have an adequate risk/return ratio per each trade. 2.Strategy Index strategy consists of portfolio managers timing, asset selection and rebalancing skills. Timing requires constant market monitoring. Asset selection requires covariance and correlation calculations to adjust changing portfolio risk. Rebalancing requires weights capping. Key technical indicators applied: Moving average 22 (trend strength) RSI + MACD (divergence) Volume profile (determines support/resistance) Moving average 22 allows early trend reversal/strengthening detection once crossed. RSI + MACD are designed to spot divergence. Divergence occurs once either bullish or bearish trends are fading. In this occasion portfolio manager can either fix a full/portion profit to secure portfolio’s return or to open a short-sell futures position via Interactive brokers to make a bet on a market plunge or open hedge short position to secure portfolio without cancelling out any trades. Portfolio rebalancing is executed via 3Commas platform, which allows API trading without a risk of unauthorised deposit/withdrawal. Platform also provides traders/portfolio managers with a full set of complex order settlements, full exit to USDT. 3.Key metrics - Investment horizon: long-term Risk level: ultra high Minimum investment: 1 USD Hurdle rate: 2% Projected return: 2-5% (average monthly) Max drawdown: 20% Lock-up: Yes (if trade is open) Managed accounts: Binance, 3Commas 1 1.Description (Arbitrage) Arbitrage arises once exchange rates deviate from each other. Due to current stable coins’ instability and USD volatility arbitrage efficiency allows earning from 2-8% depending on deposit’s currency. According to the scheme provided in a right column arbitrage is possible on 10 exchanges, simultaneously. 2.Key metrics - Investment horizon: any period Risk level: low Minimum investment: 10,000 USD Management fee: 10%-5%-3%-2% Success fee: 50% (weekly) High water-mark: No Hurdle rate: No Projected return: 2 - 8% (monthly) Lock-up: Yes (weekly) Managed accounts: Bitfinex API 1 1.Description (Lending) FRR / month Max (wg) USD 4,5 % 3,8 % 1,4 % 1,1 % (+ fee) Average (+ fee) EUR 3,7 % 3,2 % 1,5 % 1,3 % BTC 2,0 % 1,7 % 1,0 % 0,8 % ETH 4,1 % 3,5 % 1,5 % 1,3 % Bitfinex lending implies direct lending to Bitfinex exchange, which creates a pool of borrowers and lenders that are matched (supply/demand). Lending schemes: 1. FRR (Flesh Return Rate - average rate of lending/day). Floating rate determined by current demand on the market. Tends to increase when BTC is soaring, respectively. 2. Pre-determined rate of your preference. Once market demand matches the rate, lending is initiated HPR Avg Max BTC 0,-,020159 ETH 0,-,04654 Bullish market allows earning more on pairs ETH & BTC. Rising BTC/USD and ETH/USD rates + interest paid in ETH & BTC. All rates above calculated In USD return only. Key metrics - Investment horizon: 2-30 days Risk level: almost 0 Minimum investment: 10,000 USD Bitfinex fee: 15% (on interest/daily) Hurdle rate: 1% (monthly) Lock-up: Yes (2 or 30 days) Managed accounts: Bitfinex Projected return: 1,5 - 3% (monthly) 1