Hi everyone,
I had planned to release the analysis of the fee split token on wednesday but the analysis turned out to be a bit more tricky than I thought....
First thing I did when the weekly payout went online last tuesday was enter every coin and amount in Blockfolio. The total amount of the portfolio went up from around 7 to 12 USD, a pleasant surprise ! The issue though is that this wasn't consistent with the value displayed in the coss dashboard, where the fee split was estimated to be around 2.22 USD. There was clearly something wrong...
I first checked that everything had been entered properly in Blockfolio, and then realized the problems comes from the dashboard estimate. Have a look at last week's allocation per USD which is how much you earn from each COSS :
and from an earlier week :
Allocation per USD hasn't changed even though the volume on the platform has changed every week, there's clearly a bug in the way COSS gives you the estimate.
Getting the data
I looked at various options to get a better estimate of the fee split :
- keep everything in Blockfolio : this is good for a rough estimate but the analysis that can be done is quite limited
- use cointracking.info : a very detailed tutorial was posted on techburst.io explaining how to track payouts with cointracking. This would be a perfect solution if the free version wasn't limited to 200 trades (roughly 6 weeks of dividends could be tracked) or if the pro version wasn't so expensive (0.023 BTC per year is more than I can justify spending with BTC around 15 000 USD). If you're already subscribed to the pro version go ahead and have a look at the tutorial it is very detailed.
- find an online portfolio that supports .CSV uploads. I looked at altpocket and cryptocompare but couldn't find one with CSV imports and inputting everytrade manually turned out to be more tedious than I thought. If you know a good alternative please leave it in the comments.
Since none of the options above were good enough, I decided to do everything myself with Python and the data-analysis package called pandas. Here are the main steps :
- from the coss dashboard, copy and paste every fee split received in a spreadsheet and save it as .CSV file.
- get historical prices thanks to the the API from cryptocompare for all the coins on COSS.io. I used the histoHour end point to get hourly aggregates and saved it in a .CSV file.
- use python and pandas to combine everything to get aweekly report that combines
I plan to share a Jupyter notebook with all the code later on github so you can run it yourselves but right now it needs some serious cleanup and commenting before it can be used by anyone other than me. I'll do some tutorials on how to use the APIs of cryptocompare as well.
Fee split
After a lot of work, I managed to get an estimate of around 5.53 USD for 118K coss I had in my wallet. We can extrapolate to estimate how much money you would have gotten this week depending on the number of coins you held on Sunday, December 3 :
| COSS held | Weekly payout in USD |
|---|---|
| 1 000 | 0.047 |
| 2 000 | 0.094 |
| 5 000 | 0.234 |
| 10 000 | 0.468 |
| 20 000 | 0.935 |
| 50 000 | 2.338 |
| 100 000 | 4.675 |
| 200 000 | 9.350 |
| 500 000 | 23.376 |
| 1 000 000 | 46.752 |
Most traded coins
Remember that the weekly dividends are not paid in USD but with whichever coins the tradings fees were generated from. If more people trade ETH a bigger share of the dividends will be paid in ETH.
Let's look at the top 10 most traded coins and how much of each you would have gotten if you held 100k COSS :
| coin | amount | unit price in USD | payout in USD for 100k COSS held |
|---|---|---|---|
| ETH | 0.00399005 | 394.105 | 1.860 |
| COSS | 17.6187 | 0.0786182 | 1.638 |
| BTC | 4.00547e-05 | 9427.14 | 0.447 |
| SUB | 0.471598 | 0.281938 | 0.157 |
| EOS | 0.0273919 | 3.35993 | 0.109 |
| ARK | 0.0118102 | 3.36838 | 0.047 |
| LTC | 0.000413047 | 84.4632 | 0.041 |
| WTC | 0.00345172 | 8.55409 | 0.035 |
| ZEN | 0.000997219 | 24.9311 | 0.030 |
| OMG | 0.00288898 | 8.31319 | 0.029 |
| next 24 coins | 0.280 |
Remember that these are the prices at the time of the snapshot.
Here's a pie chart to see each coin. I need more
Coins earned during the fee split can be either converted or distributed:
- non Ethereum-based currencies like BTC or LTC can be converted to ethereum for free, just click Convert and it will show in your ETH balance
- Ethereum-based currencies have to be distributed to the wallet of your choice using a smart contract which has a cost of 0.002 ETH
So for coins with small volumes you will have to wait several weeks before you can distribute the coins without losing money. The 0.002 ETH is roughly equivalent to 1 USD today, so if you get 5 cents worth of coin each week, you would have to wait 20 weeks before it even makes sense to pay the distribution fee (or hope for a 1000% increase in value of the coin !).
This should not be a problem once volume on the platform starts to pick up.
Next week I'll try to differentiate between Ethereum based and non-ethereum based so see what percentage of the fee split can be converted instantly. I'll also start looking at week by week changes in the fee split, there should be a significant increase next week as volume has picked up recently :)
What's next on coss.io?
DAT Token from DATUM will start trading on coss.io on December 12th. There's a trading contest and the prize pool will be split between the top 50 volume traders over 30 days :
- 1-10 traders split 30% of the pool
- 11-20 traders split 25% of the pool
- 21-30 traders split 20% of the pool
- 31-40 traders split 15% of the pool
- 41-50 traders split 10% of the pool
This is the first trading contest on coss.io and the team has another 5 or 6 lined up to promote new coins when they are introduced on the platform.
This should help bring new users and volume to the platform. I quite like the prize structure as I think it should promote a healthy competition; e.g. jumping a couple places in the ranking does not increase dramatically the prize and hopefully we don't see multiple accounts selling to themselves like it was the cas on binance.
More info about DATUM on their official page.
More info on COSS
Check out the following links for more info on COSS :
- Official page coss.io (checkout the FAQ)
- Coinmarketcap page for COSS coin
- Coinmarketcap page for COSS exchange
- Slack Channel
- Telegram channels for discussions (https://t.me/myCOSS and announcements (https://t.me/COSSchat )
- Subreddit /r/CossIO/
- For french speakers, Coss topic on JVC forum