Monday 1 December 2014

Final Report


Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:




(exchange rate)^

XMM/XRPXMM/USD*XMM/BTC*USD/XRPBTC/XRP
28/02/141.0000.014200.0000248170.4440,300
31/03/141.4260.013060.00002755109.1451,761
30/04/142.5900.013700.00003103188.9883,466
31/05/143.0840.012430.00002057248.08149,903
30/06/143.4330.013120.00002153261.65159,415
31/07/142.6750.013970.00002390191.50111,912
31/08/143.0240.014860.00003013203.50100,336
30/09/143.1640.015120.00003922213.8882,941
31/10/143.3350.016260.00004745205.1370,300
30/11/142.0960.021340.0000631698.1533,194

* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).


Return rate, measured in different currencies:


~XRP~USD~BTCaverage
Mar-201442.6%-8.0%11.0%15.2%
Apr-201481.6%4.9%12.6%33.0%
May-201419.1%-9.3%-33.7%-8.0%
Jun-201411.3%5.5%4.7%7.2%
Jul-2014-22.1%6.5%11.0%-1.5%
Aug-201413.0%6.4%26.1%15.2%
Sep-20144.6%-0.4%26.6%10.3%
Oct-20145.4%9.9%24.4% 13.2%
Nov-2014-37.1%31.4%33.1% 9.1%

9-month ended Nov-2014.109.6%50.5%154.5%104.9%


Review and Comment:
The price of XRP experienced a sharp rise during last two weeks of November. As a result, NAV of our fund had depreciated 37.1% against XRP, while gaining 31.4% against USD and 33.1% against BTC at the same period. The average return during the final month is ~9.1% which is in-line with our internal target.

It's quite a coincidence that the price of XRP has come back to a level near the early-stage of XMM. The 9-month return rates represent the overall performance of XMM since its inception. The Fund had achieved an average return rate of 104.9% during its life-span.


Final Redemption:
There were 321,086 units of XMM in-circulate when we made the announcement to dissolve the Fund two weeks ago. About 80% of our holders had chosen to convert their holdings into new RXM fund, leaving only 64,749 XMM outstanding at the end.

Sufficient amount of XRP had been send out to a special account for the purpose of final redemption. An offer had been created to buy back all outstanding XMM units at price of 2.096 XRP, which is the NAV-per-unit of the Fund measured on the last day of operation (30th-Nov-2014).

The remaining assets in the Hot-wallets and Trading-accounts are now owned by RXM.

The RXM Fund.
Due the sharp rise of XRP price in the past two weeks, NAV-per-unit of the fund is currently about 40% below XRP-parity. Hence, there will be no dividend payments (and also the 1:1 buy-back) in the near future, until the fund regain its value above 1XRP.

Contrary to XMM, the new fund will no longer restrict its trades on IRBA-member gateways. Some new IOUs might be added into our portfolio, e.g. CNY.RippleFox, JPY.TokyoJPY, JPY.RippleTradeJapan, etc.

RXM is managed under Ripple Dividend. Please visit its site for future announcement and updates regarding the fund.


Acknowledgement.
Last but not least, I would like to say thanks to all XMM-holders, especially those who had shown their support since the very beginning of this project. It's your contribution that make this happen and help injecting more liquidity into Ripple ecosystem.

Thank you.

Monday 17 November 2014

End of XMM.

As mentioned in our latest monthly report, we are thinking to convert XMM into a dividend-paying model. So, here's come the final decision.

We had decided to dissolve XMM at the end of this month. As a replacement, a new fund named RXM would be launched, under the roof of Ripple Dividend.


The New Fund.
RXM, just like other funds of Ripple Dividend, will be distributing its profit in the form of XRP-dividends.

The trading strategy of the fund will be similar to XMM -- its portfolio will spread over almost every type of assets including XRP, bitcoins, fiats, metals. However, the new fund might put more weigh into more popular currency. And there will no longer be a restriction on asset-holdings of non-IRBA members. Particularly, the new fund might start making markets for some JPY.RippleTradeJapan.

RXM will be pegged to XRP. The profit apportionment policy is similar to other funds of Ripple Dividend.


What to do.
There are two choices for the current holders of XMM:

1. Convert XMM into RXM.
An offer had been created to buy each XMM unit with 3.28 RXM, which is an approximation of XMM's net-asset-value in XRP at the time of writing. The offer will last until 30th-November-2014.

We are planning to initiate RXM with a 2.5% trading buffer. The first dividend shall be paid in December once the NAV-per-unit of the fund is higher than 1.025 XRP. Also, new units will be sold with premiums no less than 2.5%.

2. Wait for the liquidation of XMM.
We will perform a final evaluation of XMM assets on 30th-November-2014. Then an offer will be created to buy back all outstanding units with XRP, at a price equivalent to the ending NAV-per-unit.

After the liquidation process, the Hotwallet and Trading-accounts of XMM will be transferred to RXM.

Thursday 6 November 2014

Monthly Report, October 2014.


Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:




(exchange rate)^

XMM/XRPXMM/USD*XMM/BTC*USD/XRPBTC/XRP
28/02/141.0000.014200.0000248170.4440,300
31/03/141.4260.013060.00002755109.1451,761
30/04/142.5900.013700.00003103188.9883,466
31/05/143.0840.012430.00002057248.08149,903
30/06/143.4330.013120.00002153261.65159,415
31/07/142.6750.013970.00002390191.50111,912
31/08/143.0240.014860.00003013203.50100,336
30/09/143.1640.015120.00003922213.8882,941
31/10/143.3350.016260.00004745205.1370,300

* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).


Return rate, measured in different currencies:


 ~XRP ~USD ~BTC average
Mar-2014 42.6% -8.0% 11.0% 15.2%
Apr-2014 81.6% 4.9% 12.6% 33.0%
May-2014 19.1% -9.3% -33.7% -8.0%
Jun-2014 11.3% 5.5% 4.7% 7.2%
Jul-2014 -22.1% 6.5% 11.0% -1.5%
Aug-2014 13.0% 6.4% 26.1% 15.2%
Sep-2014 4.6% -0.4% 26.6% 10.3%
Oct-2014 5.4% 9.9% 24.4%  13.2%

3-months ended Oct. 24.7% 16.4% 98.5% 46.5%

6-month ended Oct. 28.8% 18.7% 52.9% 33.5%


Review and Comment:
During the month, NAV of our fund appreciated 5.4% against XRP and  9.9% against USD, and 24.4% against BTC. The average return rate was 13.2%, which is in-line with our internal target.

XRP price was rather stable in October, while BTC continue a mile downtrend. The performances of our bots during this period are quite satisfactory.

The Fund recorded an average return of 46.5% for 3-month period, and 33.5% for 6-month period ended October-2014.



XMM's Contribution to Liquidity
(followings figures was the trading data during 25th-Oct ~ 31st-Oct.)

BTC/XRP and BTC/USD markets:

XMM Trade Volume% of Total volume
BTC.Bitstamp / XRPBTC 4.2970.44%
BTC.SnapSwap / XRPBTC 7.0260.79%
BTC.TheRock / XRPBTC 0.0080.06%

BTC.Bitstamp / USD.BitstampBTC 1.6171.60%
BTC.Bitstamp / USD.SnapSwapBTC 1.95211.01%
BTC.SnapSwap / USD.BitstampBTC 1.83016.71%
BTC.SnapSwap / USD.SnapSwapBTC 5.0891.18%

BTC.Bitstamp / CNY.RippleChinaBTC 0.7636.30%
BTC.Bitstamp / CNY.RippleCNBTC 0.90124.10%
BTC.SnapSwap / CNY.RippleChinaBTC 1.67512.75%
BTC.SnapSwap / CNY.RippleCNBTC 1.22713.74%


 Fiats/XRP and Fiats/USD markets:

XMM Trade Volume% of Total volume
USD.Bitstamp / XRPUSD 4,5870.47%
USD.SnapSwap / XRPUSD 8,5401.77%
CNY.RippleChina / XRPCNY 29,2262.33%
CNY.RippleCN / XRPCNY 39,7652.47%
EUR.SnapSwap / XRPEUR 2,2708.77%
EUR.TheRock / XRPEUR 1,2678.46%
NZD.Coinex / XRPNZD 20714.90%
MXN.Bitso / XRPMXN 6,53316.38%
USD.LakeBTC / XRP USD 17050.00%

USD.Bitstamp / CNY.RippleChinaUSD 1,3613.92%
USD.Bitstamp / CNY.RippleCNUSD 1,0221.05%
USD.SnapSwap / CNY.RippleChinaUSD 3,6338.61%
USD.SnapSwap / CNY.RippleCNUSD 3,3496.82%
USD.Bitstamp / EUR.SnapSwapUSD 1,69034.76%
USD.SnapSwap / EUR.SnapSwapUSD 8,518 16.65%
USD.Bitstamp / EUR.TheRockTradingUSD 1,19739.94%
USD.SnapSwap / EUR.TheRockTradingUSD 3,65840.29%
USD.Bitstamp / NZD.CoinexUSD 23750.00%
USD.SnapSwap / NZD.CoinexUSD 25839.22%
USD.Bitstamp / MXN.BitsoUSD 3244.97%
USD.SnapSwap / MXN.BitsoUSD 80514.24%
USD.Bitstamp / USD.LakeBTCUSD 601.14%
USD.SnapSwap / USD.LakeBTC USD 8035.89%


Metals markets:

XMM Trade Volume% of Total volume
XRP / XAU.GBIXRP 267,42345.36%
XRP / XAU.RippleSingaporeXRP 0.000.00%
XRP / XAG.RippleSingaporeXRP 5,4142.52%
USD.Bitstamp / XAU.GBIUSD 69716.15%
USD.SnapSwap / XAU.GBIUSD 7308.82%
USD.Bitstamp / XAU.RippleSingaporeUSD 00.00%
USD.Bitstamp / XAG.RippleSingaporeUSD 00.00%


All data above were obtained through queries with RippleCharts API. 


Units and Holders Analysis


Unit in Circulation
28/02/14111,042
31/03/14167,198
30/04/14245,885
31/05/14424,209
30/06/14479,689
31/07/14455,570
31/08/14314,068
30/09/14346,730
31/10/14307,617


Statistic of holders on 31st-October
< 10 unit19
[10 – 100)8
[100 – 1000)17
[1k – 10k)19
>= 10k8
TOTAL71


Unit-in-circulation decreased by ~40k or ~13% as compared to end-of-September. The new-issues/redemption prices quotes by hotwallet was maintained at ~5% spread through out the whole month.


Others

After three months of operation on Ripple Dividend, recently I'm re-considering the idea of converting XMM into a dividend-paying or simple interest-bearing fund. The exact model is yet to be finalized, and announcement would be made if there's a decision.


Wednesday 1 October 2014

Monthly Report, September-2014


Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:




(exchange rate)^

XMM/XRPXMM/USD*XMM/BTC*USD/XRPBTC/XRP
28/02/141.0000.014200.0000248170.4440,300
31/03/141.4260.013060.00002755109.1451,761
30/04/142.5900.013700.00003103188.9883,466
31/05/143.0840.012430.00002057248.08149,903
30/06/143.4330.013120.00002153261.65159,415
31/07/142.6750.013970.00002390191.50111,912
31/08/143.0240.014860.00003013203.50100,336
30/09/143.1640.015120.00003922213.8882,941

* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).


Return rate, measured in different currencies:


 ~XRP ~USD ~BTC average
Mar-2014 42.6% -8.0% 11.0% 15.2%
Apr-2014 81.6% 4.9% 12.6% 33.0%
May-2014 19.1% -9.3% -33.7% -8.0%
Jun-2014 11.3% 5.5% 4.7% 7.2%
Jul-2014 -22.1% 6.5% 11.0% -1.5%
Aug-2014 13.0% 6.4% 26.1% 15.2%
Sep-2014 4.6% -0.4% 26.6% 10.3%

3-months ended Sep -7.8% 12.7% 77.1% 27.4%

6-month ended Sep 121.9% 13.2% 38.5% 57.8%


Review and Comment:
During the month, NAV of our fund appreciated 4.6% against XRP and  26.6% against BTC, but depreciated 0.4% against USD. The average return rate was 10.3%, which is in-line with our internal target of return rate.

XRP price was quite stable throughout the whole month. The poorer return rate compared to previous month was mainly due to the continuous fall of BTC price (about one third of our asset was allocated for BTC markets). And somehow our bots seems perform poorer when there's a directional trend in exchange-rates.

The Fund recorded an average return of 27.4% for 3-month period, and 57.8% for 6-month period ended September-2014.



XMM's Contribution to Liquidity
(followings figures was the trading data during 24th-Sep ~ 30th-Sep.)

BTC/XRP and BTC/USD markets:

XMM Trade Volume% of Total volume
BTC.Bitstamp / XRPBTC 9.720.34%
BTC.SnapSwap / XRPBTC 11.101.21%
BTC.JustCoin / XRPBTC 2.412.33%
BTC.TheRock / XRPBTC 0.905.18%

BTC.Bitstamp / USD.BitstampBTC 2.951.02%
BTC.Bitstamp / USD.SnapSwapBTC 4.437.80%
BTC.SnapSwap / USD.BitstampBTC 3.259.89%
BTC.SnapSwap / USD.SnapSwapBTC 6.025.04%
BTC.JustCoin / USD.BitstampBTC 0.672.38%
BTC.JustCoin / USD.SnapSwapBTC 0.933.03%

BTC.Bitstamp / CNY.RippleChinaBTC 4.4122.37%
BTC.Bitstamp / CNY.RippleCNBTC 2.0628.66%
BTC.SnapSwap / CNY.RippleChinaBTC 0.529.62%
BTC.SnapSwap / CNY.RippleCNBTC 1.8930.06%


 Fiats/XRP and Fiats/USD markets:

XMM Trade Volume% of Total volume
USD.Bitstamp / XRPUSD 4,1180.57%
USD.SnapSwap / XRPUSD 4,8591.90%
CNY.RippleChina / XRPCNY 41,3753.31%
CNY.RippleCN / XRPCNY 37,2052.37%
EUR.SnapSwap / XRPEUR 2,15212.02%
EUR.TheRock / XRPEUR 4705.62%
NZD.Coinex / XRPNZD 00.00%
MXN.Bitso / XRPMXN 22636.61%
USD.LakeBTC / XRPUSD 3050.00%

USD.Bitstamp / CNY.RippleChinaUSD 2,7054.27%
USD.Bitstamp / CNY.RippleCNUSD 2,5992.89%
USD.SnapSwap / CNY.RippleChinaUSD 2,38315.60%
USD.SnapSwap / CNY.RippleCNUSD 1,4667.34%
USD.Bitstamp / EUR.SnapSwapUSD 37917.24%
USD.SnapSwap / EUR.SnapSwapUSD 2,40511.39%
USD.Bitstamp / EUR.TheRockTradingUSD 35845.25%
USD.SnapSwap / EUR.TheRockTradingUSD 53634.62%
USD.Bitstamp / NZD.CoinexUSD 0.0450.00%
USD.SnapSwap / NZD.CoinexUSD 9.688.61%
USD.Bitstamp / MXN.BitsoUSD 0.081.90%
USD.SnapSwap / MXN.BitsoUSD 2.0710.61%


Metals markets:

XMM Trade Volume% of Total volume
XRP / XAU.GBIXRP 227,44823.41%
XRP / XAU.RippleSingaporeXRP 0.000.00%
XRP / XAG.RippleSingaporeXRP 6,1862.67%
USD.Bitstamp / XAU.GBIUSD 2177.42%
USD.SnapSwap / XAU.GBIUSD 3446.06%
USD.Bitstamp / XAU.RippleSingaporeUSD 0.000.00%
USD.Bitstamp / XAG.RippleSingaporeUSD 53.412.73%


All data above were obtained through queries with RippleCharts API. 


Units and Holders Analysis


Unit in Circulation
28/02/14111,042
31/03/14167,198
30/04/14245,885
31/05/14424,209
30/06/14479,689
31/07/14455,570
31/08/14314,068
30/09/14346,730


Statistic of holders on 30th-September
< 10 unit19
[10 – 100)9
[100 – 1000)17
[1k – 10k)17
>= 10k9
TOTAL71


Unit-in-circulation increased by ~33k or ~10% as compared to end-of-August. The new-issues/redemption prices quotes by hotwallet was maintained at ~5% spread through out the whole month of September.


Others
During September, we had initiated our support for MXN.Bitso, USD.LakeBTC and XAU.GBI.
We had also expanded our BTC/Fiats support to CNY, and had now become a major liquidity provider in BTC/CNY markets.

Tuesday 2 September 2014

Monthly Report, August-2014


Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:




(exchange rate)^

XMM/XRPXMM/USD*XMM/BTC*USD/XRPBTC/XRP
28/02/141.0000.014200.0000248170.4440,300
31/03/141.4260.013060.00002755109.1451,761
30/04/142.5900.013700.00003103188.9883,466
31/05/143.0840.012430.00002057248.08149,903
30/06/143.4330.013120.00002153261.646159,415
31/07/142.6750.013970.00002390191.503111,912
31/08/143.0240.014860.00003013203.496100,336

* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).


Return rate, measured in different currencies:


 ~XRP ~USD ~BTC average
Mar-2014 42.6% -8.0% 11.0% 15.2%
Apr-2014 81.6% 4.9% 12.6% 33.0%
May-2014 19.1% -9.3% -33.7% -8.0%
Jun-2014 11.3% 5.5% 4.7% 7.2%
Jul-2014 -22.1% 6.5% 11.0% -1.5%
Aug-2014 13.0% 6.4% 26.1% 15.2%

3-months Ended 31st-Aug -2.0% 19.5% 46.5% 21.4%





6-months Ended 31st-Aug 202.4% 4.7% 21.4% 76.2%

Review and Comment:
During the month, NAV of our fund appreciated 13% against XRP,  6.4% against USD and 26.5% against BTC. The average figure was 15.2% profit.

XRP price was quite stable throughout the whole month of August. It seems that our trading bots perform quite well during this low-volatile period.

For 3-months-period ended August, our fund record an average return of 21%.
Since the inception of XMM six-month ago, its value appreciated 76.2% in average.


XMM's Contribution to Liquidity
(During the periods of 25th-Aug ~ 31st-Aug.)

BTC/XRP and BTC/USD markets:

XMM Trade Volume% of Total volume
BTC.Bitstamp / XRPBTC 14.642.43%
BTC.SnapSwap / XRPBTC 15.153.47%
BTC.JustCoin / XRPBTC 2.929.28%
BTC.TheRock / XRPBTC 0.3022.57%

BTC.Bitstamp / USD.BitstampBTC 1.681.27%
BTC.Bitstamp / USD.SnapSwapBTC 4.3817.79%
BTC.SnapSwap / USD.BitstampBTC 1.717.22%
BTC.SnapSwap / USD.SnapSwapBTC 11.4210.32%
BTC.JustCoin / USD.BitstampBTC 0.0050.09%
BTC.JustCoin / USD.SnapSwapBTC 0.66915.10%


Fiats/XRP and Fiats/USD markets:

XMM Trade Volume% of Total volume
USD.Bitstamp / XRPUSD 6,1621.07%
USD.SnapSwap / XRPUSD 7,8233.29%
CNY.RippleChina / XRPCNY 40,8882.88%
CNY.RippleCN / XRPCNY 56,2743.48%
EUR.SnapSwap / XRPEUR 2,48111.65%
EUR.TheRock / XRPEUR 7757.27%
NZD.Coinex / XRPNZD 15415.38%

USD.Bitstamp / CNY.RippleChinaUSD 9482.11%
USD.Bitstamp / CNY.RippleCNUSD 2,5292.49%
USD.SnapSwap / CNY.RippleChinaUSD 1,7965.42%
USD.SnapSwap / CNY.RippleCNUSD 2,73710.07%
USD.Bitstamp / EUR.SnapSwapUSD 62434.46%
USD.SnapSwap / EUR.SnapSwapUSD 2,33911.49%
USD.Bitstamp / EUR.TheRockTradingUSD 38350.00%
USD.SnapSwap / EUR.TheRockTradingUSD 47548.07%
USD.Bitstamp / NZD.CoinexUSD 6950.00%
USD.SnapSwap / NZD.CoinexUSD 11943.12%


Metals markets:

XMM Trade Volume% of Total volume
XAG.RippleSingapore / XRPXAG 0.000.00%
XAU.RippleSingapore / XRPXAU 0.198733.26%
XAG.RippleSingapore / USD.BitstampXAG 0.006830.01%
XAU.RippleSingapore / USD.BitstampXAU 0.0602912.74%


All data above were obtained through queries with RippleCharts API. 
(a simple tool available at: http://ripplerm.github.io/XMM-utilities/volume.html)


Units and Holders Analysis


Unit in Circulation
28/02/14111,042
31/03/14167,198
30/04/14245,885
31/05/14424,209
30/06/14479,689
31/07/14455,570
31/08/14314,068


Stats of holders on 31st-August
< 10 unit17
[10 – 100)7
[100 – 1000)17
[1k – 10k)22
>= 10k8
TOTAL71


Unit-in-circulation decreased by ~141k or 31% as compared to end-of-July. The new-issues/redemption prices quotes by hotwallet was maintained at ~5% spread through out the whole month of August.


Others
Since the launch of RippleDividend, most of my efforts had been on the new project. Nevertheless, I will keep managing XMM in non-for-profit manner.

As a community project, XMM is always willing to allocate a significant portion of our fund for supporting less-popular currency-pairs and also new gateways. Currently we are among the top market-makers for EUR and NZD markets. Our next target would be MXN.Bitso, and maybe XAU.GBI.


Thursday 31 July 2014

Monthly Report, July-2014


Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:




(exchange rate)^

XMM/XRPXMM/USD*XMM/BTC*USD/XRPBTC/XRP
28/02/141.0000.014200.0000248170.4440,300
31/03/141.4260.013060.00002755109.1451,761
30/04/142.5900.013700.00003103188.9883,466
31/05/143.0840.012430.00002057248.08149,903
30/06/143.4330.013120.00002153261.646159,415
31/07/142.6750.013970.00002390191.503111,912

* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).


Montly return rate, measured in different currencies:


~XRP~USD~BTCaverage
Mar-201442.6%-8.0%11.0%15.2%
Apr-201481.6%4.9%12.6%33.0%
May-201419.1%-9.3%-33.7%-8.0%
Jun-201411.3%5.5%4.7%7.2%
Jul-2014-22.1%6.5%11.0%-1.5%

3-months Return
(30/4 ~ 31/7)		3.3%1.9%-23.0%-5.9%

Review and Comment:
During the month, NAV of our fund dropped 22% against XRP, but appreciated 6.5% against USD and 11% against BTC. The average figure was a loss of 1.5%. For the 3-months period ended 31st-Jul, our Fund experience a loss of 5.9% in average.

July was the first full-month in which our market-making tasks were fully operated by bots. It seems that our bots were not doing well during a high-volatile period like July. One of the reasons is because our bots were configured to make-market with some minimal spreads which is not enough to cover the risk in a highly-volatile environment.

I will be keep adjusting the trading-logics and configurations of our bots to balance between providing-liquidity-to-market and making-profit-for-holders.


XMM's Contribution to Liquidity
Here's some tables that show our trading volume during the last 7-days of July (25/7~31/7).

BTC/XRP and BTC/USD markets:

 XMM Trade Volume % of Total volume
BTC.Bitstamp / XRP BTC 12.86 1.50%
BTC.SnapSwap / XRP BTC 18.55 2.33%
BTC.JustCoin / XRP BTC 3.25 4.02%
BTC.TheRock / XRP BTC 0.36 16.07%

BTC.Bitstamp / USD.Bitstamp BTC 1.17 0.44%
BTC.Bitstamp / USD.SnapSwap BTC 1.18 5.11%
BTC.SnapSwap / USD.Bitstamp BTC 1.62 5.33%
BTC.SnapSwap / USD.SnapSwap BTC 2.9 3.21%

 (* BTC/USD pairs were added to our supported lists during second half of July.)


Fiats/XRP and Fiats/USD markets:

 XMM Trade Volume % of Total volume
USD.Bitstamp / XRP USD 5,644 0.48%
USD.SnapSwap / XRP USD 5,225 1.81%
CNY.RippleChina / XRP CNY 33,535 3.41%
CNY.RippleCN / XRP CNY 34,319 4.67%
EUR.SnapSwap / XRP EUR 878 4.77%
EUR.TheRock / XRP EUR 59 18.48%
NZD.Coinex / XRP NZD 109 11.48%

USD.Bitstamp / CNY.RippleChina USD 2,358 4.48%
USD.Bitstamp / CNY.RippleCN USD 2,621 3.60%
USD.SnapSwap / CNY.RippleChina USD 2,625 15.73%
USD.SnapSwap / CNY.RippleCN USD 2,448 11.41%
USD.Bitstamp / EUR.SnapSwap USD 160 5.40%
USD.Bitstamp / EUR.TheRockTrading USD 7.5 0.09%
USD.Bitstamp / NZD.Coinex USD 9.5 50.00%


Metals markets:

 XMM Trade Volume % of Total volume
XAG.RippleSingapore / XRP XAG 0.028705 0.02%
XAU.RippleSingapore / XRP XAU 0.3557 12.9%
XAG.RippleSingapore / USD.Bitstamp XAG 0.08106 0.07%
XAU.RippleSingapore / USD.Bitstamp XAU 0.1671 6.92%


All data above were obtained through queries with RippleCharts API. 
(a simple tool available at: http://ripplerm.github.io/XMM-utilities/volume.html)


Units and Holders Analysis


Unit in Circulation
28/02/14111,042
31/03/14167,198
30/04/14245,885
31/05/14424,209
30/06/14479,689
31/07/14455,570


Stats of holders on 31st-July
< 10 unit13
[10 – 100)7
[100 – 1000)20
[1k – 10k)29
>= 10k12
TOTAL81


Unit-in-circulation decrease by ~24k or 5% as compared to end-of-June. The issuing/redemption processes was fully automated since June. Quotes from hotwallet was maintained at ~5% spread through out the whole month of July.


Others
I had just launch a new virtual-gateway named Ripple Dividend. It could be considered an extension of XMM project -- Ripple Dividend will raise fund through issuing IOUs, try to make profit from market-making and distribute its earning to the holders in the form of XRP dividends. A portion of the gross-profit would be retained for covering the operation cost.

Contrast to XMM, Ripple Dividend will be mostly concentrating on some mature markets of low-volatility, in which our bots work better as compared to XRP-market. Its funds might be more suit to the needs of those who are uncomfortable with the high-volatility of XRP prices. The initial sales of four IOUs -- FMM, USD, CNY, BTC was launched yesterday. Please visit blog.rippledividend.com for more info.

I will be keep managing XMM in a non-profit manner. In future, XMM might be gradually switching away from some mature-markets, and giving more supports to those less-popular currency pairs.

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