A Blockchain based startup Kryll.io released the first version of its automated trading platform. According to the founders, almost 100 new members join the project’s Telegram channel every day.
Kryll’s demo was launched at the beginning of March 2018. Although the company had been planning to release much later, the founders wanted to give users the first experience in order to collect feedback as soon as possible. Currently, the platform provides tutorials, backtesting results, and many other features.
“Our amazing developers are working very fast which is really appreciated by the community,” Lisa Pons, Kryll’s marketing officer, said to Cointelegraph. “Our iOS app is currently under development and coming very soon.”
Dip Accumulator and Bear Trade
Kryll’s technology allows the designing and testing of trading strategies before using them to live-trade 24/7. The alpha version of the platform already features two trading strategies users can test – theDip Accumulator and Bear Trader, Both of which are already scalable. Kryll’s’s users can play with the strategic blocks in order to achieve the optimal trading results. During the backtest, Dip Accumulator earned almost $6,000.
Kryll’s system has five main blocks for building successful trading strategies. The first one, ’Market Trends’, provides trends analysis, such as price fluctuation, technical data analysis and prognosis based on machine learning.
The second block, ‘Trading Actions’, allows users to buy, sell, and hold assets, or stop the trading activity if needed. The third block is ‘Signals’, a combination of recent tips coming from professional traders, Telegram channels or social networks.
The fourth block, ‘Operators’ organizes data feeds and signal interactions – for example, when BTC is receiving positive feedback on Twitter. Finally, the ‘Notifications’ block keeps users informed of a strategy’s status by text messages, emails or smart notifications.
What do cryptocurrency traders say?
Kryll’s founders report they are launching contests every week to find the best traders and create a successful community. “We think collective intelligence is a huge asset that will make all of us more successful in the trading market,” the company said in its white paper.
One of the project’s aims is to allow traders to earn while sharing their knowledge and ideas with others. The platform will offer a marketplace section where anyone can share a strategy for a fee. People with excellent insights can help their fellow traders and generate some profit at the same time.
According to the company, for now, both Blockchain experts and cryptocurrency enthusiasts are positive. “Kryll has an easy-to-use product with has mass appeal, and this will enhance trading journey experience,” Athol Nourse, Forex & contract for difference (CFD) expert, told Cointelegraph. According to Denis Suslov, CFO at Finom, Kryll “offers a comprehensive multi-platform solution that can be used anywhere”.
Kryll’s marketplace will also feature chats on different strategies where people will be able to interact and collaborate. Users will rate strategies featured on the marketplace according to their efficiency.
The future of Kryll’s token
In March, the startup announced a partnership with Spectre.ai, the world’s first brokerless trading platform which raised more than $16 mln in 2017. Spectre.ai is planning to integrate Kryll’s technology into the Specter’s platform so users can benefit from some features on Forex, Crypto, and CFD trading.
According to the project founders, Kryll’s tokens are selling fast; the initial number available was lowered from 220 mln to 72 mln which, as the founders point out, means higher token value.