1 Token Metrics

In order to invest in the Guna Fund, one needs to purchase our fund’s utility token, GNA.
Summary of the Token:

 Token Type: ERC20 – Ethereum Blockchain

 Maximum Supply: 50,000,000 GNA
 Available for Purchase: 55,000,000 GNA
 Minimum investment: NA

1.1 Revenue Model and Fund Utilization

A total of 100,000,000 GNA tokens will ever be in existence. At the time of the private sale launch, 1 GNA
will be worth $1.

An entry load of 2% will be levied, i.e., if an investment of 1 ETH is being made, the contribution to the
fund will be 0.98 ETH.

Profits made by the fund will be commissioned on the last working day of a calendar month at a rate of
20%. However, if the NAV of the fund is below the water level (below the NAV at the time of last commission
realization) of the previous month, commission will not be charged for that period.
Out of the total revenue collected by the Guna Fund, its utilization will be as follows:

a) 15% for further research and development

b) 10% for marketing and PR
c) 5% for legal consultation
d) 5% for advisors
e) 15% for partners
f) 50% for the core team

<<Pie Chart>>

1.2 Token Offering

The Token Offering will begin from February 27, 2018 when the fund goes live. Individuals can send their
investments to the fund in the form of Bitcoin (BTC), Ether (ETH) or Litecoin (LTC). The deposit addresses
for each of the above mentioned cryptocurrencies are as follows:

 BTC: 1Ni2GnyTbt8yFGqRa3RgVYvH33aMeiDPuX
 ETH: 0xa72af427aaeb9c654559734e7b030a3d799a4d1d
 LTC: LhAPG6KwpnjZKfy7UTeUAvAd1aZPSdLuNw

1.3 Token Distribution and Exchange

On deposit of their funds in the form of BTC/ETH/LTC, the investors will receive equivalent amount of
GNA tokens in their ERC20 wallet within 24 hours. Funds need not be sent from ERC20 compatible wallets.

GNA token holders can redeem their GNA tokens by exchanging them for BTC/ETH/LTC at the then
current rate on the Guna Fud website.

1.4 Price Metrics of the Token

The fund will build and maintain its portfolio of blockchain assets and apply various techniques of investment
and trading to maximize its Net Asset Value (NAV). From March 5 th 2018, the fund will go live and the price
of the GNA token will be pegged to the NAV of the fund. The price of a GNA token will be the live value
of the Guna Fund’s NAV. It will be computed by the following formula:
 𝐴𝑈𝑀
𝐺𝑁𝐴 =
𝑇𝑆
Where,

GNA = Price of the GNA Token (in a certain currency C)

AUM = Total Assets under Management
TS = Total number of tokens sold

TS = MCS - ∑𝑛𝑖=1 𝑥 i
Where,

MCS = Maximum Circulating Supply

xi = Number of GNA tokens in the master GNA wallet of the i-th exchange it is listed in

The above formula ensures that the price of the token is not affected by the buying and selling of it.

So, if the fund makes a profit of 30% from March 5th 2018 to April 30th 2018, the price of 1 GNA on April 30th 2018
will be 0.00013 ETH. Likewise, if the fund incurs a loss of 15%, the price of 1 GNA will be 0.000085 ETH.

1.5 Commission on Profits

As mentioned in the section on revenue model, the fund will charge 20% commission on profits on the last day
of a calendar month. The commissions will be realized by means of airlift of GNA tokens from the investor’s
wallet to the Guna Team’s GNA master wallet.

Illustration 1:

Paul invests 100 GNA worth of BTC/ETH/LTC on March 5, 2018 at a GNA price of $1. He further invests
another 50 GNA worth of cryptocurrencies on March 10 , 2018 when each GNA token was trading at $1.08.
He decides to withdraw 20 GNA worth of fund on March 17, 2018. Since at this time each GNA is worth
higher than at the time of his purchase, he will be charged a commission of 20% of profits realized on his
withdrawal, i.e., 0.35 GNA will be airlifted from his wallet. He further invests 30 GNA worth of capital on
March 25, 2018 and the Guna Fund team realizes commissions on profit made till March 31, 2018 which
results in a further 3.43 GNA airlifted from his wallet.
Date GNA Bought GNA Sold GNA Price GNA Airlifted GNA Balance
March 5th 2018 100 $1 100
March 10th 2018 50 $1.08 150
March 17th 2018 20 $1.12 0.37 129.63
March 25th 2018 30 $1.10 159.63
April 1st 2018 $1.15 3.43 156.20

Profit Commission Realized on March 17th 2018:

20 1.12 − 1 1.12 − 1.08
∗ [0.2 ∗ {100 ∗ ( ) + 50 ∗ ( )}] = 0.37
150 1 1.08
Profit Commission Realized on March 31st 2018:
100 1.15 − 1 50 1.15 − 1.08 1.15 − 1.10
0.2 ∗ [{( ) ∗ 129.63 ∗ ( )} + {( ) ∗ 129.63 ∗ ( )} + {30 ∗ ( )}] = 3.43
150 1 150 1.08 1.10
Illustration 2:

Paul carries forward the balance of 156.22 GNA into the month of April 2018. He invests another 40 GNA
worth of capital into the fund on April 18, 2018 with each GNA being priced at $1.14. He decides to withdraw
35 GNA worth of capital from the fund on April 23rd at which time each GNA token is worth $1.13. The
commission charged by the Guna Fund team at that moment will be levied only on the investments of 100
GNA and 50 GNA, since they were made at a time when each GNA token was priced below $1.12 (the price of
GNA when the first commission on profits was realized). Also, no monthly commission on profits will be
realized by the Guna Fund team on April 30, 2018 since the price of GNA is lower than that on March 31,
2018.
Date GNA Bought GNA Sold GNA Price GNA Airlifted GNA Balance
April 1st 2018 $1.15 156.20
April 18th 2018 40 $1.14 206.20
April 23rd 2018 35 $1.13 0.073 171.12
April 30th 2018 $1.10 171.12

Profit Commission Realized on April 23rd 2018:

35 1.13 − 1.12 1.13 − 1.12 1.13 − 1.10
∗ [0.2 ∗ {100 ∗ ( ) + 50 ∗ ( ) + 30 ∗ ( )}] = 0.073
206.22 1.12 1.12 1.10
Profit Commission Realized on April 30th 2018: 0 (Since the GNA price of $1.10 on April 30th 2018 is
lower than that of $1.15 at the time of the last commission booking on March 31 st 2018)

Illustration 3:

Paul carries forward the balance of 171.12 GNA into the month of May 2018. He invests another 60 GNA
worth of capital into the fund on May 14, 2018 with each GNA being priced at $1.19. He decides to withdraw
25 GNA worth of capital from the fund on May 21, 2018 at which time each GNA token is worth $1.23. The
commission charged by the Guna Fund team at that moment will be levied on the investments made at a time
when each GNA was priced lower than $1.23. This comes to be 0.46 GNA which gets airlifted from his wallet.
After investing another 15 GNA worth of capital on May 28, 2018, he gets charged the monthly commission
on profits made during the period between the previous realization of monthly commission on March 31, 2018
to the last day of May 2018 which comes to be 3.96 GNA, leaving him with 216.70 GNA to carry into June.
Date GNA Bought GNA Sold GNA Price GNA Airlifted GNA Balance
May 1st 2018 $1.10 171.12
May 14th 2018 60 $1.19 231.12
May 21st 2018 25 $1.23 0.0234 205.66
May 28th 2018 15 $1.24 220.66
May 31st 2018 $1.25 216.70

Profit Commission Realized on May 21st 2018:

25 1.23 − 1.13 1.23 − 1.13 1.23 − 1.13 1.23 − 1.14
∗ [0.2 ∗ {100 ∗ ( ) + 50 ∗ ( ) + 30 ∗ ( ) + 40 ∗ ( )
231.12 1.13 1.13 1.13 1.14
1.23 − 1.19
+ 60 ∗ ( )}] = 0.46
1.19
Profit Commission Realized on May 31th 2018:
100 1.25 − 1.13 50 1.25 − 1.13
0.2 ∗ [{( ) ∗ 205.66 ∗ ( )} + {( ) ∗ 205.66 ∗ ( )}
231.12 1.13 231.12 1.13
30 1.25 − 1.13 60 1.25 − 1.19
+ {( ) ∗ 205.66 ∗ ( )} + {( ) ∗ 205.66 ∗ ( )}
231.12 1.13 231.12 1.19
1.25 − 1.24
+ {15 ∗ ( )}] = 3.96
1.24
1.6 Dividends
In order to efficiently trade the blockchain assets, stability of the fund’s size is solicited. Investors are thus
encouraged to hold their investments for a longer duration and withdraw in small amounts. Investors would
be incentivized to hold their GNA tokens by a fixed reward of 1% to be paid out to them every 30 days
through airdrops. Each investment in GNA is entitled to a maximum 12 airdrops through dividends. In the
event of complete liquidation of the GNA tokens, the airdropped tokens will be returned to the Guna Team’s
GNA master wallet from the investor’s GNA wallet.

Illustration:
Paul buys 1,000 GNA on June 1st 2018. He receives an airdrop of 5 GNA every 30 days starting from July 1 st
2018. He buys an additional 500 GNA on July 15th 2018. He receives 2.5 GNA every 30 days starting from
August 14th 2018, in addition to the 5 GNA he will be airdropped every 30 days based on his first investment
of 1,000 GNA. He then sells 800 GNA on October 7th 2018. However, 6% (1%*6, as he would have received 6
airdrops by October 15th 2018) of 800 GNA tokens will be additionally transferred out of his wallet and sent to
the GNA smart contract.

Date GNA Bought GNA GNA Sold GNA Airlifted GNA Balance
Airdropped
June 1st 2018 1,000 1,000
July 1st 2018 10 1,010
July 15th 2018 500 1,510
July 31st 2018 10 1,520
August 14th 5 1,525
2018
August 30th 10 1,535
2018
September 13th 5 1,540
2018
September 30th 10 1,550
2018
October 7th 800 48 702
2018

1.7 Revenue Sharing

Service to our business partners (detailed in the following section under Partnerships) will be monetized and
5% the revenue generated will be shared with the investors through airdrops. This is intended to be a gesture
of gratitude to the community of investors for contributing towards a large corpus of which a portion will be
utilized for conducting R&D.

1.8 Voting Rights

The GNA token will allow its holder the right to vote in all major decisions of the fund. This privilege will
come to use when we would need to venture in directions that affect the investors of the Guna Fund. Based on
feedback from the investors, polls would be conducted on the fund’s website. Examples of voting would be to
decide whether to

 shift our ROI base from fiat to ETH or BTC

 take advantage of arbitrage positions
 pay dividends on a monthly basis or quarterly, and any other decision to be taken based on regular investor
feedback

Each votable decision will be carried out by a decision-specific smart contract on the Ethereum blockchain.