Invictus Capital Borrow Request

Hi TrueFi Stakers,

We are Invictus Capital, a cryptocurrency asset management and trading firm. We are requesting a loan of $1 000 000 TUSD for 30 days and we are willing to pay 11.5% p/a.

About us
Our firm has over 3 years of track record in the cryptocurrency sector and we currently manage over $50m in assets across 7 different funds in multiple asset classes. These funds include well-recognized brands in the industry such as Crypto20 and the Invictus Hyperion Fund. The Hyperion fund holds equity stakes in companies such as NOIA, Quantfury, and OVEX.

Our funds are all built on the Ethereum blockchain meaning all fund issuances and redemptions can be publicly tracked. Redemptions for the C20 fund going back several years are visible here on the blockchain.

Our firm has been featured in top publications including Forbes and Nasdaq.We’re constantly engaged with some of the largest players in the cryptocurrency sector with our CEO hosting the most recent summit with Joe Lubin, co-founder of Ethereum and founder of Consensys, as the featured speaker.

We have a large community of approximately 15 000 retail investors from 150+ countries. We would be happy to field any questions about us on any of the social channels listed below.

Loan request and use of funds
We wish to use the funds for our market neutral, market making trading strategies. These strategies are used to generate volume on exchanges and are completely hedged (i.e. do not have any risk relating to cryptocurrency price movements). Hedging is done either on the same exchange using futures contracts or cross-exchange in the same market.

Our counterparties for these trading activities include major cryptocurrency exchanges such as FTX, Binance and Bitfinex.

We are currently ranked in the top 10 in terms of PnL on Bitfinex (link to the leaderboard: https://leaderboard.bitfinex.com/plu:1w:tGLOBAL:USD) and have official market making status on most major exchanges.

12 Likes

Speaking as an individual TRU holder, I’d endorse this request! Some highlights, in my opinion:

Preexisting, long-term partner: Invictus has been a long-time partner to TrustToken and has historically offered TUSD users fantastic APY on their stablecoins (per EarnCryptoInterest).

Efficient allocator of capital: In my opinion, Invictus has been an effective investor in both terms of generating returns for their fund participants and in terms of managing risk with their hedging strategies.

High reputational & legal cost to default: Invictus would likely see major damage to their reputation and likely their overall fund success in the event of loan default.

4 Likes

Thanks for the additional insights. Based on the track record and the previous good history, I’d concur with your endorsement and love to see them being onboarded to TrueFi for a test run :sunglasses:

2 Likes

I also endorse this request.

1 Like

Based on the reputation, I am willing to support this loan. The request the TrustToken team to do their due diligence legally before this can proceed further. @rafaelcosman @MG-TT How is the loan approval being processed currently, meaning whats the vote support needed to list this on trueFi portal?

2 Likes

If this isn’t the type of borrower we are looking for, I don’t know what is.

1 Like

Hey folks, I’m proposing the following framework for polling community opinion on new borrowers. We’ll use the median vote to inform how to move forward with the borrower.

Invictus Capital
  • :no_entry_sign: NO- do not add borrower to platform at this time
  • :white_check_mark: YES- but limit credit to $10k and term to 14 days
  • :white_check_mark: YES- but limit credit to $100k and term to 30 days
  • :white_check_mark: YES- but limit credit to $1mm and term to 30 days
  • :white_check_mark: YES- but limit credit to $10mm and term to 30 days
  • :white_check_mark: YES- with unlimited credit

0 voters

1 Like

I feel using the same benchmark as Alameda (KYC using the TC app etc.) we can add a few more borrowers on our platform.

The folks at Invictus Capital have submitted a borrower request under the name New World Holdings, which has been reviewed and verified, including the beneficial owner who is also the beneficial owner of Invictus Capital. New World Holdings has met all compliance requirements, including passes on screening against 100+ sanctions screening lists, politically exposed persons lists, adverse media, law enforcement and regulatory issues review. This is for the entity as well as the beneficial owner. A refresh was conducted this morning to ensure information was up to date and accurate. This information is being provided to the TRU community as one factor among many to help inform their voting & staking decisions.

4 Likes

Hey folks, the vote in favor of adding Invictus Capital to the platform has passed and we will be whitelisting Invictus’ Ethereum address shortly.

1 Like

@Invictus_Capital - congrats, and welcome to TrueFi!

2 Likes

Thanks everyone for the support thus far! We’re almost half way there in terms of votes. Any votes to get us across the line would be much appreciated.

3 Likes

Working on it. I think you have strong support from the community and will get across the finish line.

Thanks for all the support Rafael. Last push - need just over 20k votes!

Hey Rafael, Saw you tweet about this loan going out on Twitter. Would it be good for the TrustToken account to announce these as well? These loans are huge milestones!

1 Like