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Blendfi
DocsThree kinds

The rules

The three kinds of fund

Not how risky. Who may touch the money.

Every fund is one of three kinds, chosen once when it is created and never changed. The kind tells you exactly how much freedom the person running it has, and it is the first thing to look at.

Fixed

Never changes

Nobody can move anything. Not the creator, not Blendfi, not ever. The list picked on day one is the list on the last day. There is nothing to trust because there is no lever to pull.

Rule

Changes slowly

The manager can buy and sell what the fund already holds, freely, any amount, any time. A coin the fund does not already hold is the only thing on a leash: 24 hours of public warning, 3 new coins a month at most, and for its first 3 days only 10% of the fund's cash may follow it in.

At launch, no coin over 40%.

Flex

Changes freely

The manager can buy, sell and reshuffle anything the fund already holds, instantly, any amount, any time. A coin the fund does not already hold still waits 24 hours in public. After that, as many as they like, whenever they like.

The three fund types on one line, from nobody may trade it to one person may trade it freelyNobody canA person can, on a leashA person can, freelyFixedNobody can move anything.Not the creator, not us,not ever.The list chosen on day oneis the list on the last day.There is nothing to trust,because there is no leverto pull.No trading, everNo new coins, everRuleHe can buy and sell what isalready in the fund. Freely,any amount, any time.A brand-new coin waits24 hours in public. Then3 every 30 days, and only10% of the cash mayfollow it in.3 to 9 coins, 40% cap at launchYou trust the leash, not the manFlexHe can buy, sell andreshuffle anything alreadyin the fund. Instantly, anyamount, any time.A brand-new coin stillwaits 24 hours in public.After that, as many as helikes, whenever he likes.No cap on new coinsYou trust the personIn all three, you can leave.Instantly. Always.No manager and no part of Blendfi can hold abacker’s money back. Adding a coin is the onlyaction anywhere with a clock on it.The three fund types on one line, from nobody may trade it to one person may trade it freelyNobody canA person can, freelyNobody canFixedNobody can move anything. Not the creator,not us, not ever. The list chosen on day oneis the list on the last day.No trading, ever. No new coins, ever.A person can, on a leashRuleHe can buy and sell what is already in thefund, freely, any amount, any time. A brand-newcoin waits 24 hours in public. Then 3 every30 days, and only 10% of the cash may follow.3 to 9 coins, 40% cap at launch.A person can, freelyFlexHe can buy, sell and reshuffle anything alreadyin the fund, instantly. A brand-new coin stillwaits 24 hours in public. After that, as manyas he likes, whenever he likes.No cap on new coins.In all three, you can leave. Instantly. Always.No manager and no part of Blendfican hold a backer’s money back. Adding a coinis the only action anywhere with a clock on it.
The three types do not rank risk. They answer one question: who is allowed to touch what the fund holds. Fixed says nobody, Rule says the creator within a written leash, Flex says the creator, freely.

With Rule you are trusting the leash. With Flex you are trusting the person. With Fixed there is nobody to trust.

In all three, you can leave. Instantly. Always.