To change a little, today we will present an ICO in an interview format. This is the startup Kryll, which develops a platform that will allow users to create algorithms in a simple and intuitive way, through tiles "functions". Let's go !
This is a sponsored article as part of the project's bounties campaign.
Hello Luca, I heard that you were carrying a project that responded to the sweet name of "Kryll.io". What problem is it trying to solve?
Hi Lucas,
Kryll.io is above all an answer to the main problem that all crypto-traders have: the loss of time, the stress, the fatigue induced by trading.
Trading is the ultimate game, it's a bit like a poker game at the world level: you can win big, lose big, get back the next day, miss opportunities, make master shots ... it's completely insane ... and this is open to all, 24/7!
However, being effective and efficient in one's trading requires self-control, time and thought that are extremely difficult to have and requires very strict discipline to stay true to one's goals and strategies.
I do not know if you have personally experienced it, but your readers traders have probably fallen into the traps classic trading (we all fall), such as buying a corner a little too late (the time to catch the info, log in, choose the price and amount to invest, buy) to see it crash just after (FOMO classic) ... Or then have to hold its corners during a downtrend for lack of responsiveness ... Or even having to get up at 4am to buy the dip of a token on the Asian market ... Do not be able to make a stop-loss / take profit smart without having to camp in front of his PC, etc.
In short basically to be effective you have to spend your life ... which is ultimately not very nice. We all went through the team being traders for a long time ... and we spent a lot of time at the expense of our families, our children, our passions, our friends ...
We therefore thought that there must be a service that allows everyone to program their strategies in a simple and visual way; to be able to trigger a succession of chained actions from his smartphone; to be able to create smart-alerts easily, etc.
... faced with the interstellar vacuum of the market, we said "bin as there is nothing, let's make the product of our dreams". And from there Kryll.io was born
Concretely, can you explain how the programming of an algorithm, and why not, we make a use case to trade a downtrend - since we are right in it - with Kryll!
To create a strategy, the user will have bricks (a little like legos) that he can assemble. It will thus be able to create a logical sequence of triggers and actions that will follow a predefined plan (flow). All this will be done in the cloud and can be created and launched from any computer. No need to leave your laptop on, having to rent a machine to do it, having to have a heavy client on your computer, etc.
To answer your question about the trade on a downtrend, I would like to explain to our readers what it is:
Let's say I have 1 bitcoin and the market is going down (as we did in early January). Trading downward would mean identifying this downside, swapping my bitcoin as soon as possible for euros, dollars or USDT (a crypto pegged to the dollar) and then buying back down. If, for example, the BTC goes from $ 10,000 to $ 8,000 and I sold and bought at the right time, I went from 1 BTC to 1.2 BTC, a gain of 20% in bitcoins. Doing this manually is quite painful, time-consuming and anxiety-provoking.
With Kryll.io it will be possible to do two things:
- First of all the user can create alert strategies of the type: If the market drops by more than 10% and the investors panic, then send me a notification (via the app / sms / email ...). This can be done in less than a few minutes with our editor drag'n'drop, because it will be enough to connect a few bricks together: the brick if the market drops, the bricks if the market panics (volume increase, analysis of feeling on social networks, etc.) and brick notification.
- But we can also go further by automating the sale and buyout by continuing the strategy and interconnecting a "Sell" brick and a "Buy" brick once the market has collapsed.
All this is obviously only one of the innumerable examples one could imagine. Our goal is to produce a maximum of more or less complex bricks, collaborating in particular with researchers in economics (CNRS), Machine learning, sentiment analysis (EURECOM Laboratory) for example, to provide a truly rich platform, where the only limit will be the imagination of the user.
Can you tell us more about the tile that allows to analyze the "feeling" of the market?
This brick will be one of our Machine Learning functionalities, resulting from our collaborations with several research laboratories (including the EURECOM research center for example), as well as our internal R & D based on various open source technologies. The idea is to analyze in real time the feeling of a token and crypto in the broad sense on social networks and to be able to extract alerts. Let's take a concrete case, if the system realizes that a part of the twittosphere is going to FUD on the LTC (to take the example of the famous sale of the wallet LTC of Charlie Lee), the brick of "sentiment analysis" triggers a signal of "bad feeling" on this currency. Thus, the user having integrated it into his strategy will be able to benefit from a higher responsiveness to liquidate his assets, or on the contrary wait for the fall before buying the DIP.
You talk about the user's imagination, but can the uninitiated to the programming use the platform?
This is the promise of Kryll.io: that everyone, dev or not, can finally easily realize his ideas, intuitions and trading experiments in minutes and this in a fun way!
This tile system will be very "user friendly" and we can even see a side "gamification". Have you planned incentive mechanisms related to the performance of the algorithms, or any other system that makes it possible to exploit this "gamification"?
Kryll.io will have a very strong community side and "gamification" will indeed be one of the pillars. We plan contests, leaderboards, achievements, thematic challenges, a Level system to unlock new features of the platform, etc. A little like the sites CodinGame, NewbieContest, Root-me in their own themes, Kryll.io will have a real facet game / community / challenge. The challenges can also give rise to lots in KRL to reward the most creative users
Since you're talking about it, can you tell us about the token, the KRL, and anything that could cover what you call the token economy in your whitepaper? And since your token will be a token utility, it may be an opportunity to tell us about your business model!
Quite the KRL will be an "utility", ie a usable Token. His main role will include allowing the user to execute his strategies in Live trading. Our business model is based on a pay-per-use mechanism. Basically everything will be free on the platform (strategy creation / backtesting / live simulation ...) except the launch of a strategy in live trading which will consume KRL as a running fuel. We will never take commissions on profits, our goal is really to create a platform "fair" and allow everyone to come play, test, build, express their creativity, totally free of charge whether in terms of cost service or risk of loss for the user (hence the backtesting / live simu).
Another facet of Kryll.io's economy will be the marketplace. Indeed each user will be able to propose his strategies (like a black box to save the intellectual property of the author) to the other users. A system of comments and notes will be available so that the community can give feedback and interact with the author.
In exchange for this sharing, the user will receive a commission in KRL on the execution of his strategy by other users. Important point: we will not be getting extra commissions on user-generated strategies, all incomes over and above the typical execution cost will go to the designer.
The goal with Kryll.io is to make a fair platform and build a community.
Thank you Luca for this interview, and good luck for your fundraising
** Warning : We promote this ICO because we find the project interesting. However, you must do your own research before investing and take full responsibility for your decisions. Scams are numerous and we strongly advise you to conduct a survey on the team and the feasibility of the project. This article is a presentation and can in no way be considered as investment advice.