Imagine accessing a specialized decentralized exchange (DEX) with the ability to create and pay for successful trading algorithms, all while staking an exchange token and receiving dividends. It seems strange that in 2018 this still does not exist.
Autonio and Crypto Bridge are partnering to bring intelligent trading and an algorithm marketplace to a new and novel unstoppable trading DEX. Partnership is a term often thrown around the cryptosphere without much thought, and rarely (as of yet) does it produce anything other than a temporary pump. The teams from Autonio and Crypto Bridge are working together to create something that has enormous potential. To understand this partnership, you must first understand the problems facing DEX’s.
Liquidity, slippage, market making:
Crypto Bridge is a DEX, a decentralized autonomous exchange. It currently suffers from lack of liquidity, as do many exchanges, especially DEX’s. Most centralized exchanges pay to “make their markets” and outside companies provide much needed liquidity. DEX’s are unable to do this and cannot compete in that fashion. Slippage is also a common problem and large orders simply cannot be done without seriously moving the market. Automated trading via bots is one solution to this problem, however that comes with its own set of issues.
Secure automated trading:
A few months ago, there was a targeted attack on API keys associated with certain trading bots. These hackers were able to pump and dump coins on Binance, creating large profits for themselves as they bought and sold the dips. Binance was eventually able to reverse these trades. However, this scenario would never have taken place to begin with if Autonio, a decentralized automated trading platform, was used. The centralized aspect of the trading bots was what allowed the hacking in the first place. “That’s why with Autonio you are safe. You hold and protect your own info locally. This is one of the best things of being decentralized and Autonio does this by default being stored locally and working for you directly from your machine.” said Ali, lead Developer of Autonio.
A partnership featuring working products, on both ends:
This is a rarity. Two teams, both with functioning products that can be used by the community, coming together to solve imporant issues facing the cryptosphere. Autonio, with its secure automated trading, and Crypto Bridge, with its DEX platform. However, liquidity is not where the problems end, without ease of use and accessibility none of this would matter.
Availability, accessibility, and ease of use:
Automated trading is daunting for many, and for most highly unprofitable. To trade effectively you need to fully understand the indicators you are using. A marketplace for successful algorithms is the solution. As of now, Autonio is the only such marketplace. The cost of centralized automated bots is usually quite high, and its success is entirely dependent on you, the user, sometimes even requiring some coding abilities as well. Autonio is $50 per month, paid with NIO. Backtrading is free and unlimited.
Backtrading is simply testing a strategy to see how well it may work using past charts. Providing this service for free is essentially a “try before you buy”.
Asset functionality:
Both teams have products which utilize their respective asset: BCO (LTC clone; coin) and NIO (ERC20; token). Crypto Bridge utilizes a staking coin, BCO, on their platform. 75% (previously 50%) of trading fees are paid to coin holders via the highest volume coins bi-weekly. The coin can also be staked for a set period with the incentive of increased rewards. For example, staking 50 BCO for 6 months gives you double leverage. The locking up of tokens decreases circulating supply. BCO is also used to pay for market maker and exchange fees. NIO is used to pay for the trading platform. Each payment is burned. This vastly decreases the circulating supply.
On competing in the crypto space:
Jesse, a business developer for Crypto Bridge, had this to say on competition.
“Of course, there are other decentralized exchanges in development, but to quote Peter Thiel, ‘Competition is for losers’. We have a unique mission, so we think more in terms of having a monopoly. When one does something unique, that no one else is doing, then there is no competition. The ‘competition’ we engage in…. is to be the best CryptoBridge we can be…obviously, other decentralized exchanges are trying to compete with us… we are looking forward, and at ourselves, not at the ‘competition’”.
Ali commented:
“Autonio has no competition, there’s nothing like it. This isn’t arrogance, it’s just the fact that Autonio isn’t a trading bot, the ability to create and deploy algorithms isn’t what it’s limited to. Currently there are no trading bots that offer what our platform does, with the ease of use, cost and efficiency in question. Autonio aims to be trade bot agnostic. No matter what trade bot you use or will use in the future, the algorithm marketplace will not discriminate.”
Looking forward:
Both teams are working together to develop specialized algorithms specifically for use on Crypto Bridge. Crypto Bridge recently opened an office in Europe, tripled the size of their team, and are working on a Android and IOS app. Autonio is currently going through a rebrand. They have overhauled their team, throwing out old advisors and bringing in new ones: Alex Altman, co-founder and COO of Stratx, former vice president of finance for Bitcoin Canada and former partner at Canada’s largest blockchain consulting firm, MLG Blockchain. Michael Horowitz, co-founder and CEO of Stratx, General Partner at Chaintech Digital, a fund which recently closed on an investment for Singularitynet (AGI), a DEX marketplace for artificial intelligence. The rebrand is not a marketing promotion. “This rebrand adds more structure and efficiency. We at Autonio are more focused and calculated while we plan for the future” said Ali.
Summary:
Two proven teams with two working products creating an intelligent trading DEX with an accompying algorithm marketplace. NIO will soon be added to Crypto Bridge, proving much needed liquidity for the exchange. API access will follow, with a user interface planned in the future. NIO is also the first ERC20 token added to the exchange, more will follow, bringing users to the platform.
Disclaimer:
Please make your own investment decisions, do not take advice or information from strangers on the internet. This is not an endorsement or recommendation that you purchase either of these assets. As a disclaimer, I currently hold NIO but do not hold BCO. I was not paid by either Autonio or Crypto Bridge for writing this article.
Crypto Bridge updated roadmap:
https://medium.com/@cryptobridge/on-the-road-again-cryptobridges-updated-road-map-695b2c3b318b
Market Maker Program:
https://medium.com/@cryptobridge/cryptobridge-market-maker-program-883c649d6a5e
Crypto Bridge Staking Explained:
Autonio Updated Flyer:
https://steemit.com/autonio/@rahemanali/the-new-autonio-handout-flyer
Autonio Automated Trading on Bitshares DEX
https://steemit.com/bitshares/@rahemanali/algorithmic-trading-on-bitshares-dex-with-autonio