Alpha Release Of A Blockchain Startup To Test New Trading Strategies

A Blockchain-based startup Kryll.io has released the first version of its automated trading platform.

Kryll's demo was launched at the beginning of March 2018. Although the company had been planning to release the demo much later, the founders wanted to give users the chance to experience it in order to receive feedback as soon as possible. Currently, the platform provides tutorials, pre-built strategies, backtesting, result analysis, and a drag and drop feature.

“Our amazing developers are working very fast, which is really appreciated by the community,” Lisa Pons, Kryll’s marketing officer, told Cointelegraph. “Not only the platform but also our mobile app is currently under development and you already can discover our Apple watch companion app!”

Pre-built strategies to demonstrate the concept

Kryll’s technology allows the designing and testing of trading strategies before using them to live-trade 24/7. The demo version of the platform already features some trading strategies users can test — for example, the Dip Accumulator and Bear Trader, both of which are already scalable.

Developers are currently working on other pre-built examples that Kryll’s users can already test. The company claims that during the backtest and without any optimizations, these basic strategies are already showing results in excess of 50% gains in just a few weeks.

Five main blocks for successful trading

Kryll’s system has five main block types 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 family 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 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 that has mass appeal, and this will enhance the trading journey experience,” Athol Nourse, Forex and 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 Specter’s platform so users can benefit from features on Forex, Crypto, and CFD trading.

According to the project founders, Kryll’s tokens (available for sale until April 20) 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.

Cryptense S.A.S, the Blockchain company behind the Kryll project, is based in the European technology park of Sophia Antipolis in the south of France.