DELIVERING WORLD-CLASS FINANCIAL RESEARCH SINCE 1999

April 2021

412% Potential Gains by 'Owning'

the Crypto Volatility Market
If you're a crypto investor, you're familiar with volatility. IN THIS
MONTH'S ISSUE:
Because the crypto market is still developing, it's global, and it runs 24/7... it's one of
the most volatile markets in the world. •T
 he Varying Degrees of
Volatility in the Crypto
Although volatility can be hard to put into words, it's easy to spot when you see it. Market

For example, last November, the market cap of the entire cryptocurrency market rose •H
 ow We Can 'Own' the
from $480 billion to $580 billion in eight days. Then it plunged back to $480 billion Crypto Volatility Market

in less than 24 hours. •H

 ow Big Could GOVI
Get?
Over the next four days, the overall market traded sideways while bitcoin's (BTC)
•A
 Look at Today's
volatility broke out to seven-month highs.
Crypto Market
Five months later, the crypto sector's market cap is $2 trillion. And bitcoin's volatility
has ranged between 60% to more than 100%.

STANSBERRY
RESEARCH
1125 N. Charles Street
Baltimore, MD 21201
1-888-261-2693
www.stansberryresearch.com

Editor
Eric Wade
Analysts
Nick Koziol
Andrew McGuirk
As DailyWealth Trader editor Ben Morris says in The Volatile Markets Report... Stephen Wooldridge

April 2021 Crypto Capital | 1

 You can think of stock market volatility like air-
plane turbulence. When you're in the midst of As regular readers know, we're big fans of
strong turbulence, you don't know whether the TradeSmith's tools. If you're interested in
next gust of wind is going to rock the plane higher learning more about how TradeSmith can help
or jolt it lower... Both can and do happen. But you you maximize your profits and reduce your risk
do know that you're in for a bumpy ride... in crypto investing, click here.

Of course, you don't need to fear volatility. If

you're armed with the right timing indicators and In the January issue, we introduced you to our most
trading tools, you can protect your portfolio – and unusual recommendation ever – a wine-backed asset.
even thrive – during periods of elevated volatility.
The Blason d'Issan 2018 wine was available for purchase
At Crypto Capital, we seek to book big gains during times as an asset on the Vinsent app, which is powered by
of high and low volatility. If we had let volatility spook us Ravencoin (RVN). Vinsent connects winemakers directly
out of the crypto market last year, we would have been on with wine drinkers and investors.
the sidelines as the market rose from $480 billion to $2 We recommended buying the asset for a case of the Blason
trillion. And we would have missed out on booking gains d'Issan for $372, shipped directly from the winemaker to
like 1,164% on Terra (LUNA), 458% on one-third of LTO the asset holder. The scheduled shipment date is today –
Network (LTO), 238% on one-third of DSLA Protocol April 20, 2021.
(DSLA), or 214% on one-third of PARSIQ (PRQ).
We're also currently up more than 1,000% on Polymath Even though investors can't yet sell their wine assets on
(POLY), VeChain (VET), Tellor Tributes (TRB), Vinsent, the wine completely sold out. (As did every wine
Binance Coin (BNB), Harmony (ONE), Ethereum we recommended as a replacement selection. Clearly, Crypto
(ETH), bitcoin, and our remaining position of DSLA. Capital readers are interested in blending their blockchain
with Bordeaux.)
So this month, we're taking a closer look at volatility in the
crypto market. First, we'll walk through the varying degrees Our $372 case of 12 bottles works out to $31 per bottle.
While the wine has yet to reach store shelves, online
of volatility by looking at how five of our model portfolio
merchant wine-searcher.com shows an average price of $41
holdings stack up in volatility rankings.
per bottle. That's a 32.3% gain. And because the wine-
Then, we're recommending a way to invest in the crypto backed asset isn't yet tradeable, there was no volatility to
volatility market. We believe we could see more than 400% this investment.
gains in 12 to 24 months – regardless of what the general
As we said earlier, the wine is shipping today. So we're
crypto market does.
going to close out the position in the model portfolio
So let's get started... and book a 32.3% gain in around 90 days. If you haven't
been contacted by Vinsent for shipping instructions, we
recommend logging in and making sure your information
THE VARYING DEGREES OF
VOLATILITY IN THE CRYPTO MARKET is up to date.
PAX Gold (PAXG) puts physical gold on the blockchain.
As we've just shown, the overall crypto market is incredibly One PAXG token is backed by a physical troy ounce of gold
volatile. Some cryptos can see massive price swings in just a (about 31.1 grams) held by the Paxos Trust Company.
few days. But not every crypto is volatile. To book big gains,
we want to own a mix of volatile and less volatile tokens. The main benefits of owning PAXG are similar to owning
real gold. It's a safe-haven asset and a hedge against
So we used TradeSmith's Volatility Quotient ("VQ") to inflation. But PAXG also has advantages over physical gold.
rank the five model portfolio holdings listed below from You can buy or sell as little as 1/100th of an ounce. You can
least to most volatile. The VQ uses historical price data send it to anyone anywhere in the world nearly instantly
to score a crypto's volatility. The higher the VQ, the more from your computer or phone. And you don't have to lug
volatile the crypto. around big bars or coins.

2 | Stansberry Research April 2021

You can also earn interest on your PAXG. Projects like But Binance also recently launched the Binance Smart
Nexo and BlockFi offer 5% to 8% annual percentage yields Chain ("BSC"). BSC is a blockchain that is interoperable
("APY") on PAXG deposits. In short, tokenizing gold gives with both Binance Chain and Ethereum, opening up
a lot more freedom to gold investors, allowing them to Binance Chain to the world of Ethereum decentralized
control and earn yield on their investments. applications ("DApps"). BSC can handle as many as 100
times more transactions per second than Ethereum at a
PAX Gold has no custodial fees, a low minimum to entry
fraction of the cost. The third-largest DEX by volume,
(around $20), and allows you to redeem your PAXG tokens
PancakeSwap, runs entirely on BSC. BSC is why we
for the physical gold it's tied to.
remain bullish on BNB.
That means this token isn't going to increase in value
When we first recommended BNB in September 2019,
the way other tokens or coins do. This is only something
it was only trading for around $21. Today, it's trading
you should invest in if you believe in gold. Another thing
for around $506. TradeSmith rates BNB a volatility of
to consider is the centralization of this token. As we 29.29%. BNB remains a buy in the model portfolio.
mentioned, the gold tied to PAXG is held in a vault owned
by the Paxos Trust Company. If this vault were to no longer We sold a third of our position for a 265% gain in
exist, these tokens would lose all their value instantly. February. The remaining position is now up more than
1,600%, but we think more gains are to come with
The biggest hurdle for PAXG is the Ethereum blockchain. moderate volatility.
Ethereum is known for congestion, slow transaction times,
and heavy gas fees. Because PAXG is on the Ethereum Augur (REP) built what it calls the "world's most
blockchain, this applies to PAXG as well. But as we've accessible, no-limit betting platform." In other words, it
written before, Ethereum 2.0 and other Layer 2 solutions gives anyone in the world the ability to bet on any future
are coming. outcome. Augur predictions range from what team will
win an upcoming basketball game to who will win the next
Around 10,000 users currently hold PAXG through the U.S. presidential election.
Ethereum blockchain. Out of a total supply of 87,290.38
PAXG, around 60,161.00 PAXG is already circulating Augur's REP token is required to make all of this work.
through these 10,000 "hodlers." Bettors don't need it, but market creators do. They have
to lock up some REP and the stablecoin Dai (DAI) like a
We recommended PAXG in October 2020 as a hedge bond to create a market.
against a financial reset. Our reference price was $1,932.23.
The token has traded as low as $1,698 and as high as When we first recommended Augur tokens in March
$2,069 this year. So TradeSmith rates PAXG a moderate 2020, 16 U.S. states had legalized sports betting. Today,
volatility of 25%. PAXG is a buy up to $2,200. more than two dozen states have legalized sports betting,
and several others have legislation to legalize it in the
Binance Coin (BNB) is the token for the largest coming months and years.
centralized crypto exchange ("CEX") in the world, Binance.
com. BNB is also used for transactions on Binance's As sports betting continues to take off across the U.S.,
decentralized exchange ("DEX") powered by the Binance market makers will need to buy more REP tokens to set up
prediction markets.
Chain blockchain. Similar to Ethereum, small fees must be
paid for every transaction on the DEX. The REP token price has risen to reflect this growing
market. When we first recommended REP, it traded for
Binance Chain provides faster and cheaper transactions
around $6.94. Today, it trades for around $40 – a 382%
than the Ethereum network. However, the cost of issuing
gain. TradeSmith ranks it as a high 32% volatility.
new tokens on Binance Chain is significantly higher than
on Ethereum. This discourages spam tokens from clogging We sold one-third of our position in July 2020 for a 201%
up the blockchain, but it makes it more centralized. As a gain. But REP coins will still be in demand. And that
result, the DEX has struggled to capture significant market should push the price even higher in the coming months.
share. It ranks as the 29th most active DEX by volume. REP coins are current above their buy-up-to price.

April 2021 Crypto Capital | 3

Cosmos (ATOM) seeks to connect previously incompatible When folks are worried about a crash, they buy
blockchains by using inter-blockchain communication put options to protect their portfolios against
("IBC"). Cosmos' IBC protocol is a set of rules that spells falling stocks... So put prices rise. And the VIX
out how blockchains can communicate with one another. rises with them. The VIX can also rise when folks
They are essentially universal guidelines that let blockchains go heavy on bullish bets by buying call options.
pass tokens and data back and forth.
When people aren't too worried about falling
Cosmos also gives developers the ability to launch stock prices and they're not making a lot of big
specialized blockchains for specific tasks while maintaining bets on higher prices, the VIX drops. Historically,
the ability to communicate with other blockchains. Right when the VIX is low, the odds of large moves in
now, Cosmos is focused on serving decentralized finance stock prices are also low. When the VIX is high,
("DeFi") and plans to launch blockchains as bridges the odds of big swings are higher.
between Phase 1 and Phase 2 blockchains like bitcoin and
Ethereum. For example, normally sending ETH from the The Crypto Volatility Index ("CVI") is the crypto market's
Ethereum blockchain to a Binance Chain wallet would be answer to the VIX. CVI is managed by the Gibraltar-based
impossible without going through a third party. Cosmos is COTI. COTI is a blockchain protocol optimized to be
attempting to bridge that gap. used for merchants, payment systems, and stablecoins.

Every transaction that passes through Cosmos' hub requires CVI calculates crypto volatility by looking at pricing
a small fee (paid in ATOM), and any zone that touches changes for the next two months of crypto options
Cosmos Hub also generates fees for ATOM stakers. IBC contracts on major exchanges.
was first launched in late March, and Cosmos successfully
carried out a Stargate upgrade. Now, several tokens can be
transferred between various blockchains.
We first recommended ATOM in August 2020 for $5.89.
We sold a third of the position in February for $22.39 – a
280% gain. It's currently trading for around $19.50 –
around a 247% gain. We think there's plenty more upside
to come – but it won't be without volatility. TradeSmith
ranks this coin with a high volatility of 40.5%. ATOM
remains a buy in the model portfolio.
We've only shown you a small part of our overall portfolio...
but as you can see, we own a wide spectrum of volatility.
This has allowed us to book big gains like 1,169% in Band
Protocol (BAND) in 115 days and a combined 978% in Like stock investors buying options on the VIX, crypto
Frontier (FRONT) in 36 days. investors can use the CVI to invest in volatility or to hedge
positions against volatility.
And now, we think there's an opportunity to cash in on
volatility directly... The CVI was designed to run as a decentralized volatility
market. To make this work, COTI created the GOVI
(GOVI) token and then turned the management of CVI
HOW WE CAN 'OWN' THE CRYPTO over to GOVI token holders. Holders of GOVI will receive
VOLATILITY MARKET
a share of platform fees and vote on matters like tradable
assets, leverage used, deposit amounts, platform fees, and
To profit from volatility, you first need to track it. An easy
more.
way to gauge the stock market's volatility is with the CBOE
Volatility Index ("VIX"). The VIX is the market's "fear The fees collected will first be used to pay for oracle services
gauge" because it measures the prices of stock options. As and then to cover gas costs for system operations. Any
Ben Morris says... profits after these are paid go to GOVI token holders.

4 | Stansberry Research April 2021

It's too early to calculate how big the fees collected from Before we walk through the process, let's see how the GOVI
traders and paid to GOVI token holders will eventually be. token (not the CVI) stacks up in our UPDRAFT system
But recently, the CVI pool contained more than $3 million on page 15.
in assets locked in, which generated $15,000 in fees.
And we think the CVI will only grow more important. THE RISKS OF GOVI
As the crypto market continues to grow, more and more
investors will want to understand, track, hedge against, and GOVI currently has a circulating supply of 6,468,916
profit from its volatility. The CVI has established itself as tokens out of a maximum 32 million supply. That means
the best way to do that. more than 25 million tokens remain to be issued. They
could potentially weigh on the market as they are released
The exact details of how the profits will be paid has yet to over the next three years.
be laid out. GOVI says that "holders will share platform
fees" and that payments will be made "from time to time." Another risk to consider is the possibility of impermanent
But specifics haven't been published yet. Other projects loss ("IL"). As we've explained before, if you have two tokens
have paid out fees structured similarly to this by buying locked in an LP and the ratio between those two tokens
tokens on the open market and burning them, which has adjusts rapidly, you could be forced into holding larger por-
the effect of increasing the value of the remaining tokens. tions of a falling token or a smaller position of a rising token.
We may see similar proposals from GOVI. This is no small matter. In this case, we'll be investing
As the CVI pool increases in size and the fees increase, both ETH and GOVI into an LP. If GOVI investors
payouts will be an issue that GOVI token holders will get to lose confidence and start to sell, the pool will attempt
vote on. This will all take time. But we have an opportunity to rebalance itself. That rebalancing could lead to pool
to earn 200% to 300% on our GOVI tokens by staking investors losing value as ETH is pulled out of the pool and
them while we wait for the fee payouts to be arranged. GOVI is sold to attempt to rebalance.

This month, we're recommending you buy GOVI tokens, But we think these risks are worth taking.
pair them with Ethereum (ETH) in a Uniswap liquidity Yes, GOVI has a large number of outstanding tokens. Some
pool ("LP") to create a new LP token, and then stake of them are being paid out to traders who participate in
those ETH-GOVI LP tokens on the CVI website. (Note: the CVI Index itself as well as to stakers. That means these
Uniswap refers to the tokens as an "ETH-GOVI" pair while tokens are going to investors who believe in the system
CVI refers to the same tokens as a "GOVI-ETH" pair.) enough to use it.
So this investment is made up of two investments that The pool of outstanding tokens also pays out an incredible
can both rise and fall in value. Approach this month's yield to GOVI stakers – currently between 200% and
recommendation like a highly speculative, long-term 300%. Time will tell if the income we receive will offset
investment with the possibility of a large payout if it the future dilution... I think it will. The position we're
works or a complete loss if it doesn't. recommending consists of equal parts GOVI and ETH.
That means we'll be initially receiving 200% to 300% in
A liquidity pool is a collection of tokens that are income paid in GOVI on the ETH we commit to the pool
provided – usually in pairs – to ensure liquidity in and on the GOVI we invest – possibly for up to three years.
the market.
We've been talking for years about opportunities to earn
Staking is the process of locking up tokens in passive returns from crypto. This one simply looks too good
exchange for the right to process transactions on to pass up.
a blockchain and collect fees. Those fees can add
up to impressive yields, frequently in the double HOW BIG COULD GOVI GET?
digits. But it can take time to unstake your tokens.

You can learn more about liquidity pools here It will likely take a massive sell-off or crypto bear market
and staking here. for most investors to really be drawn to hedging risk with
volatility tools like CVI. That could be months or even

April 2021 Crypto Capital | 5

years off. So it's too early to determine a valuation for expiration date for how long these rewards will be paid
GOVI based on fees the system is collecting today. out. But the intention is to release new tokens over a
three-year period. So continuing or ending the staking
The VIX's parent company – CBOE Global Markets
payouts will eventually be determined by the GOVI
(CBOE) – most recent income statement showed $87
token holders.
million in net income and a market cap of over $10 billion.
But we can't directly compare GOVI with either of those We'll also be capturing Uniswap liquidity fees as other
figures. investors buy and sell GOVI using Uniswap. On a recent
Considering that COTI's CVI is up and running as a beta day, those fees worked out to about a 6% APY.
version with $3 million staked in the CVI pools and the So our target is to make a 406% to 412% return on GOVI
GOVI tokens are beginning to capture fees, we predict in 12 to 24 months as the staking rewards pile up and the
GOVI will be a top 250 project in the next 12 to 24 token value rises as the project grows. An increase in crypto
months. Even assuming full dilution, we could see a 200% volatility – with or without a bear market – will also raise
increase on the token price... while we're earning 200% to the project's profile and attract new users. So we expect to
300% paid out in more tokens to wait. hold for one to two years.
Earning 200% to 300% for staking tokens may not If you're sitting on ETH gains, we recommend using
immediately make sense. The COTI team says its intention one-fourth of your remaining Ethereum position for
is to get the tokens into the hands of the people who are this trade. We'll record this as a one-fourth sell of our
supporting the ecosystem. Like early bitcoin miners were remaining position in our model portfolio.
able to collect 50 bitcoin for mining a 10-minute block with
a home computer, 60% of the GOVI tokens were pre- We locked in gains of 173% on one-third of our original
allocated for future users of the platform. COTI believes position in May 2019. After today's trade, you should have
it's important that GOVI's users become its owners and around half of your original purchase left.
that this generous payout to early stakers and CVI platform
Note: With the recent market sell-off, the Ethereum
users will help accomplish that.
Network is congested… and fees are higher than usual.
It's important to note that as the size of the pool grows, the You can go ahead and make this trade today or wait for gas
payout we'll receive will likely drop. There is also no set prices to come down.

ACTION TO TAKE
Buy GOVI (GOVI) tokens up to $4.00. We recommend using one-fourth of your remaining ETH
position for this trade.

Add equal amounts of ETH and GOVI to the ETH-GOVI Uniswap LP, and then stake your LP
tokens on CVI.finance. (Detailed instructions are below.)
Exchange: Uniswap
Wallet: MetaMask

6 | Stansberry Research April 2021

 HOW TO ADD YOUR TOKENS TO THE
UNISWAP LIQUIDITY POOL AND STAKE THEM

Step 1: Calculate how large your position will be. The LP Enter half of the ETH you calculated in Step 1. Try not
tokens are 50% ETH and 50% GOVI. That means half to spend all your ETH, as your wallet will need ETH
of your position will be in GOVI tokens and half will be to pay fees for each step of this transaction. You'll notice
in ETH for the duration of this investment. You will also the example wallet holds 0.555971 ETH but is only
receive GOVI tokens for staking, so be mindful that your committing 0.2ETH – less than half – at this stage of the
position size fits your risk tolerance. transaction.
Expect to pay high ETH fees for this transaction. At the You may also note the "Liquidity Provider Fee" toward the
time of writing, ETH gas fees were 186 gwei, and the bottom of the widget. This is referencing the LP that we
transaction cost us more than $200 in fees (paid in ETH). will soon be joining. It collects and shares fees for every
transaction using our liquidity.
Step 2: Connect your Ethereum wallet, such as MetaMask,
to Uniswap. You may receive a warning from Uniswap to Step 4: Click "SWAP." You will be asked to confirm the
be careful to make sure you are on the correct page. If you transaction – possibly more than once, depending on your
follow the link provided, you are on the right page. If you settings and if you're using a hardware wallet. Confirm the
see this warning, double-check that you followed the right transaction using your MetaMask wallet.
link and then click "I understand."
Step 3: Select "trade" in the top right corner of your screen.
You'll see this widget:

April 2021 Crypto Capital | 7

Note that the gas fee we're paying for this portion of the
transaction is 0.027737 ETH, paid out of our ETH that is
held by MetaMask.
Once you have confirmed the transaction, wait for the
Ethereum network to process it, add it to a block, and
then confirm it for you. When you have received your
confirmation, go to Step 5.
Step 5: Click "Add GOVI to your MetaMask" and then
close out the dialog box.

Step 8: Approve the transaction by clicking the "Approve"

button at the bottom. Your MetaMask will ask you to
Step 6: Go back to the Uniswap LP page and click the confirm the transaction.
"Add Liquidity" button at the top right corner.
Step 7: Enter the amount of GOVI you want to provide
to the LP and supply it. For this example, we selected
"MAX" GOVI.

8 | Stansberry Research April 2021

 Click "Supply," confirm the selection, then confirm with
MetaMask. This transaction also costs a small amount of
Note that there is another 0.007832 (at the time of writing) ETH.
ETH fee for this step.
After you have confirmed everything, you will need to wait
After you confirm this, Uniswap will work to add the for the Ethereum network to approve the transaction and
transaction to the blockchain. It can take a few minutes for add it to the blockchain. While you wait, you can add your
all of this to process. tokens to MetaMask (learn more here).
Important: This is a two-part process. Once confirmed, Step 9: When the transaction is confirmed, you'll have LP
Uniswap will require you to "Supply" your ETH and tokens in your wallet.
GOVI tokens to the LP.
We still need to stake these tokens to earn the biggest
payout, so you're not done yet. But before you do, make
sure your wallet is connected. Head to the LP here.
You'll see a page that looks like this:

April 2021 Crypto Capital | 9

 The APY can fluctuate, but you can see why we want to be
paid in GOVI tokens.
Step 10: Stake your tokens by clicking "Approve GOVI-
ETH UNI V2 LP Tokens" below the pool information.

You'll need to confirm this transaction with MetaMask.

You should see your LP token data. Bookmark this page
because this is also where you can add more tokens to your
position or – just as importantly – this is where you would
"Remove" yourself from the LP when you're ready to un-
wind your position, which you can do whenever you wish.
Now, head back to CVI.finance and connect your wallet.
Make sure you've selected "GOVI-ETH."

Select "Uniswap."

You'll see the pool information:

Of course, there is another ETH transaction fee.

Once this is confirmed, go back to CVI.finance, scroll
down to the "Staking Widget," click "Max," and then click
"Stake."

10 | Stansberry Research April 2021

 A LOOK AT TODAY'S CRYPTO MARKET

Bitcoin remained volatile this month. Last week, it surged

to a new all-time high above $64,000. Then, over the
weekend, it sold off sharply... falling back to $50,000 before
recovering to around $55,000 yesterday. The world's largest
crypto is now up around 94% year to date and 693% over
the past year.
The BGCI – which includes a basket of bitcoin and nine
other cryptos – is leading bitcoin year to date (up 145%),
and over the past year (up 751%).

You'll have to confirm this step with MetaMask with one

last ETH network fee. Once this transaction confirms the
blockchain, you will begin earning GOVI tokens.

It's hard not to look at the BGCI and worry that the
market's getting frothy. As we discussed in last week's
update, one technical indicator even showed that bitcoin
prices have topped because of extreme investor sentiment.
Recent headlines about non-fungible tokens (NFTs) and
Dogecoin's price surge of more than 600% in just a week
have only added to the overexuberance in the crypto market.
However, we believe it's more evidence that cryptos are
"crossing the chasm" from early adopters to the early
majority. As more buyers enter the market, there simply
isn't enough supply to meet demand.
As we noted last month, there's a different class of buyers
supporting bitcoin's move higher. Multibillion-dollar
corporations like Time Magazine and Tesla (TSLA) have
added bitcoin to their balance sheets and are even accepting
bitcoin as a form of payment.
Investing in bitcoin is also becoming more accessible.
Canada recently launched its first bitcoin exchange-traded
To get out of this position, you'll need to reverse the steps. fund ("ETF"), and financial market giants like CBOE
First, unstake your LP tokens here. Then remove your Global Markets and Fidelity are racing to get the first
tokens from the LP here. Finally, trade your tokens here for bitcoin ETF listed in the U.S. This could create a flood of
ETH, which you can then trade for anything you wish. new investors into cryptos.

April 2021 Crypto Capital | 11

But remember, cryptocurrencies are extremely volatile. During last weekend's sell-off, the CVI jumped above 88,
marking its highest level in nearly a month. So investors
As we explained above, the Crypto Volatility Index ("CVI")
bought options to protect their crypto portfolios from any
is the crypto market's answer to the VIX. Like stock
further downside. Despite the spike, it remained well below
investors buying options on the VIX, crypto investors can
the highs from 2021. In short, we're optimistic about the
use the CVI to invest in volatility or to hedge positions
crypto market... but expect more volatility to come.
against volatility. So when the CVI is rising, it indicates
that more investors are buying options to serve as protection
for sell-offs.

12 | Stansberry Research April 2021

 Model Portfolio
Prices as of April 19, 2021

Complexity Reference Current UPDRAFT

Crypto Ticker Buy Date Return Exchange Wallet Action
Rating Price Price Score
Binance.US (excludes CT, HI, ID,
LA, NY, TX, VT, WA), Binance.com
Cosmostation, Trust Wallet,
Cosmos* ATOM 2 8/18/20 $5.89 $25.76 318.3% (excludes U.S.), Coinbase Pro Buy 95
and Exodus
(excludes HI), Kraken (excludes
WA and NY), KuCoin
Binance.US (excludes CT, HI, ID,
LA, NY, TX, VT, WA), Exodus,
Exodus, Trust Wallet, Crypto.
Binance Coin* BNB 2 9/17/19 $20.24 $510.45 1,639.2% Crypto.com app (excludes NY), Buy 92
com, Coinomi
Coinomi (only on Changelly),
KuCoin
Coinbase (Excludes HI), Crypto.
com app (excludes NY), Binance.
US (excludes CT, HI, ID, LA, Exodus, Ledger, Trezor,
Bitcoin BTC 1 11/27/18 $3,758 $61,470 1,425.7% Buy 100
NY, TX, VT, WA), Binance.com KeepKey, or Blockchain.com
(excludes U.S.), Paxos, Kraken,
Gemini
Coinbase Pro (excludes HI),
Exodus, Enjin, MetaMask, Buy up to
Civic* CVC 2 1/21/20 $0.023 $0.7004 1,553.3% Exodus (in-wallet exchange), 90
KeepKey, Ledger $0.04
KuCoin
ShapeShift, Voyager (excludes
NY, must hold DGB on Voyager), Exodus, Coinomi, Ledger,
Buy up to
DigiByte* DGB 2 12/31/18 $0.01 $0.112 741.7% Uphold (excludes NY), Abra Trezor, KeepKey, or the 93
$0.08
(excludes NY), Bittrex (excludes native wallet
multiple states), KuCoin
dao.defimoneymarket.com/swap,
DMM: Governance DMG 2 7/21/20 $0.95 $0.0770 -91.9% 1inch.exchange, Uniswap, OKEx MetaMask, Trust Wallet Hold 92
(excludes U.S.)
Buy up to
DSLA Protocol* DSLA 2 12/15/20 $0.00039 $0.0172 2,971.4% Uniswap MetaMask 83
$0.004
Coinbase (excludes HI), Crypto. Sell 1/4
com app (excludes NY), Binance. of your
US (excludes CT, HI, ID, LA, Exodus, MetaMask, KeepKey, remaining
Ethereum* ETH 1 12/7/18 $90.74 $2,435.82 1,300.1% 100
NY, TX, VT, WA, Binance.com Crypto.com position
(excludes U.S.), Kraken, Gemini, for today's
Paxos, KuCoin trade
Buy up to
DAOstack* GEN 2 12/17/19 $0.07 $0.248 207.9% Hotbit, Uniswap MetaMask, Ledger 90
$0.35
HydraDX HDX 2 2/9/21 $0.0475 $0.116 143.7% Not currently tradeable MetaMask Hold 86
Binance.com (excludes U.S.),
Buy up to
Kava* KAVA 2 12/17/19 $1.02 $6.75 442.1% Hotbit, Kraken (excludes WA Trust Wallet, Cosmostation 88
$5.50
and NY)
Binance.com (excludes U.S.), Buy up to
LTO Network* LTO 2 11/24/20 $0.1094 $0.6913 507.4% MetaMask 93
Uniswap $0.45
Binance.US (excludes CT, HI, ID,
LA, NY, TX, VT, WA), Uniswap, MetaMask, Trust Wallet, Buy up to
Polygon MATIC 2 2/25/21 $0.1741 $0.4366 150.8% 85
Crypto.com app (excludes NY), Matic Wallet $0.30
Coinbase (excludes HI)
Crypto.com app (excludes NY),
Trust Wallet, Harmony One
Binance.US (excludes CT, HI, ID, Buy up to
Harmony* ONE 2 12/17/19 $0.0041 $0.1239 2,014.5% Chrome Extension, Math 80
LA, NY, TX, VT, WA), Binance.com $0.03
Wallet
(excludes U.S.), KuCoin
Gemini, Kraken, Binance.com
Buy up to
PAX Gold PAXG 2 10/9/20 $1,932.23 $1,793.91 -9.8% (excludes U.S.), Uniswap, Crypto. Exodus, MetaMask, Trezor 95
$2,200
com app (excludes NY), Paxos
Binance.com (excludes U.S.), Enjin, Exodus, Trust Wallet, Buy up to
Polymath* POLY 2 5/19/20 $0.0285 $0.4885 1,142.2% 82
Sushiswap, Uniswap, KyberSwap MetaMask $0.065
PARSIQ* PRQ 2 12/15/20 $0.1343 $2.01 905.9% Uniswap MetaMask Buy 88
Uniswap, Bittrex (excludes some Buy up to
Quant* QNT 2 10/9/20 $9.08 $40.52 309.4% MetaMask, Ledger, Trezor 95
jurisdictions), KuCoin $50
Mine QRL tokens from a home
Quantum Resistant computer or purchase them on Buy up to
QRL 3 1/19/21 $0.258 $0.4993 93.5% QRL Web Wallet, Ledger 87
Ledger CoinTiger (outside U.S.) or Bittrex $0.50
(outside U.S.)

Continued on next page

April 2021 Crypto Capital | 13

 Complexity Reference Current UPDRAFT
Crypto Ticker Buy Date Return Exchange Wallet Action
Rating Price Price Score
Coinbase Pro (excludes HI),
Kraken (excludes WA and
MetaMask, KeepKey, Trust
Augur* REP 2 3/17/20 $6.94 $57.37 551.3% NY), KyberSwap, Binance.US Buy up to $25 97
Wallet, Ledger
(excludes CT, HI, ID, LA, NY, TX,
VT, WA),
tZERO, Binance.US (excludes
CT, HI, ID, LA, NY, TX, VT, WA),
Ravencoin* RVN 2 12/31/18 $0.01 $0.203 748.4% Binance.com (excludes U.S.), Raven Core Buy up to $0.25 90
Bittrex (excludes multiple
states), Hotbit
Hotbit, Binance.com (excludes Keplr, Cosmostation,
Secret* SCRT 2 6/19/19 $0.57 $4.38 670.3% Hold 90
U.S.) Ledger, Math Wallet
TE-FOOD* TONE 2 12/17/19 $0.005 $0.060 808.7% Uniswap, KuCoin MetaMask, Ledger Buy up to $0.03 80
Binance.com (excludes U.S.), MetaMask, Trust Wallet,
Tellor Tributes* TRB 2 4/21/20 $4.30 $85.10 1,348.7% Buy up to $43 89
Hotbit, 1inch.exchange, Uniswap Enjin

KuCoin, Binance.US (excludes

VeChainThor mobile
VeChain* VET 3 5/17/19 $0.01 $0.2443 2,158.9% CT, HI, ID, LA, NY, TX, VT, WA), Buy up to $0.05 92
wallet
Binance.com (excludes U.S.)
Binance.com (excludes U.S.),
MetaMask, KeepKey, Trust
VIDT Datalink* VIDT 2 2/18/20 $0.20 $1.120 385.3% Uniswap, KuCoin, Hotbit, Buy up to $0.75 96
Wallet, Ledger
Binance DEX, 1inch.exchange
Blason d'Issan 2018 d'Issan Vinsent moble app or Vinsent. Vinsent mobile app or
2 1/19/21 $372 $492 32.3% Shipping April 20 86
(Case)* 2018 wine Vinsent.wine
GOVI- Buy GOVI up to
GOVI-ETH UNI V2 LP ETH UNI 3 4/20/21 NEW NEW NEW Uniswap MetaMask $4, join the LP, 85
V2 LP and stake
Note for KuCoin users: Do not go through the KYC process if you're based in the U.S. This means you will have stricter withdraw limits on your account (i.e., you will only be able to
withdraw up to 2 BTC a day from KuCoin), but ensures you're still able to trade on the platform.
* Sold 1/3 of DGB on August 17, 2020 for a 233.63% gain. | Sold 1/3 of KAVA on July 20, 2020 for a 208.41% gain. | Sold 1/3 of ETH on May 16, 2019 for a 173% gain. | Sold 1/3 of GEN on July
27, 2020 for a 187.03% gain. | Sold 1/3 of ONE on August 17, 2020 for a 200% gain. | Sold 1/3 of REP on July 8, 2020 for a 201% gain. | Sold 1/2 of RVN on March 6, 2019 for a 100% gain.
| Sold 1/3 of TFD on August 3, 2020 for a 219.9% gain. | Sold 1/3 of TRB on July 20, 2020 for a 288.14% gain. | Sold 1/3 of VIDT on August 10, 2020 for a 231.99% gain. | Sold 1/2 of CVC
on November 6, 2020 for a 162% gain | Sold 1/3 of VET on January 4, 2021 for a 270.53% gain. | Sold 1/3 of POLY on December 28, 2020 for a 198.68% gain. | Sold 1/3 of PRQ on
December 21, 2020 for a 278.28% gain. | Sold 1/3 of DSLA on December 28, 2020 for a 238.11% gain. | Sold 1/3 of QNT on January 29, 2021 for a 235.68% gain. | Sold 1/3 of BNB
on February 8, 2021 at $74.04 for a 265.81% gain. | Sold 1/3 of ATOM on February 19, 2021 at $22.39 for a 280.14% gain. | Sold 1/3 of LTO on March 8, 2021 at $0.61 for a 457.95% gain.
| Enigma converted to Secret (SCRT) on July 17, 2020 at a 1:1 ratio. | The d'Issan cases are sold out. The price is updated monthly.

Crypto Capital Hall of Fame

Name Symbol Open Date Close Date Hold Period Closed Gain

Band Protocol BAND 4/20/20 8/12/20 115 1,169.18%#

Terra LUNA 9/15/20 2/11/21 149 1,164.04%

Chainlink LINK 12/31/18 5/15/20 163 596.84%†

EOS EOS 10/18/17 11/17/20 1127 480.03%*

LTO Network LTO 11/24/20 3/8/21 104 457.95%«

Kyber Network KNC 8/20/19 9/4/20 382 445.96%§

Tellor Tributes TRB 4/21/20 7/20/20 91 288.14%‡

Cosmos ATOM 8/18/20 3/18/21 202 280.14%**

PARSIQ PRQ 12/14/20 12/21/20 7 278.28%»

VeChain VET 5/17/19 1/4/21 598 270.53%◊

* EOS gains are calculated by combining two closed portions of the trade: 1,320.45% on 1/14 of the position on 5/31/2019 and 415.38% on 13/14 of the position on 11/17/2020.
# BAND gains are calculated by combining three closed portions (1/3 each) of the trade: 177.58% on 5/27/2020, 1,206.08% on 8/7/2020 and 2,123.87% on 8/12/2020.
LUNA gains are calculated by combining three closed portions (of varying sizes) of the trade: 257.1% on 1/26/2021, 1,614.09% on 2/8/2021 and 1,614.09% on 2/11/2020.
† LINK gains are calculated by combining three closed portions (1/3 each) of the trade: 170.19% on 5/14/2019, 495.7% on 6/13/2019 and 1,124.63% on 5/15/2020.
§ KNC gains are calculated by combining three closed portions (1/3 each) of the trade: 195.13% on 2/14/20, 349.77% on 3/2/20, and 792.98% on 9/4/20.
‡ TRB gains are calculated on a partial 1/3 close of the trade: 288.14% on 7/20/2020.
◊ VET gains are calculated on a partial close (1/3) of the trade: 270.53% on 1/4/2021.
» PRQ gains are calculated on a partial close (1/3) of the trade: 278.28% on 12/21/2021.
** ATOM gains are calculated on a partial close (1/3) of the trade: 280.14% on 2/19/2021
« LTO gains are calculated on a partial close (1/3) of the trade: 457.95% on 3/8/2021

14 | Stansberry Research April 2021

April 2021 Crypto Capital | 15