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Blendfi
DocsThe manager

The rules

What a manager may and may not do

A manager is a person, not a program. On the two kinds that allow it, this is the whole of what that person can do.

  • Sell anything the fund holds. Any amount, any time.
  • Buy more of anything the fund already holds. Any amount, any time.
  • Add a coin the fund does not already hold, after 24 hours of public notice.
  • Drop a coin the fund is finished with.
  • Take their share of what the fund charges: the fee people pay to join and to leave, and the rent, month after month. See The rent.

And this is the whole of what stops them.

  • Adding a coin is the only action anywhere in this product with a clock on it.
  • There is no cap on how much a manager may move in one go, and no limit on how often. If that sounds loose, it is: read the kind of fund before you read anything else about it.
  • There is no pause button and no panic button for a manager. The one stop that exists anywhere in this system can halt new money coming in and a manager's trading. It cannot reach an exit, and it never could.
  • No manager and no part of Blendfi can hold a backer's money back.
A two lane timeline: the notice gates listing a brand-new coin while trading the existing holdings runs uninterrupted underneathListing a coin the fund has never heldThe one action anywhere with a clock on it.window closed24 hoursPublic notice. Nobody may list it.7 daysThe window to list it.Gate opensBuying and selling what it already holdsNo notice. No queue. No clock.Runs the whole time, on Rule and Flex alike.A two lane timeline: the notice gates listing a brand-new coin while trading the existing holdings runs uninterrupted underneathListing a coin the fund has never heldThe one action anywhere with a clock on it.closed24 hourspublic notice7 dayswindow to list itGate opensBuying and selling what it already holdsNo notice. No queue. No clock.Runs the whole time, on Rule and Flex alike.
The clock sits on one thing and one thing only. A coin the fund has never held waits 24 hours in public, and may then be listed within 7 days. Buying and selling what the fund already holds runs underneath it the whole time, uninterrupted.
A new coin is announced 24 hours before it can be added. Buying and selling what a fund already holds is instant.