Investing in cryptocurrency takes time, effort and one mistake can cost you a lot. Kryll.io, a new product, is aiming to become a game changer. The platform, starting its token sales in February, offers intuitive ways to create and execute trading strategies automatically.
The crypto market has remarkable growth and the pressure is high. Held by Cryptense, a full-stack Blockchain company, Kryll.io was founded by crypto-enthusiasts who experienced all the roadblocks and risks of crypto trading on their own skin. The team members say they’ve been in the picture since the early days of Blockchain. According to Kryll’s website, startup’s co-founder Philippe Longère (CTO & head of Cryptense R&D) has already developed a few bots to execute trading strategies automatically.
Intuitive platform for defining strategies
Analyzing relevant data, preparing the right strategy and executing it around the clock within moving markets is not easy. ‘The discipline of steel and cool head needed to take the right decision at the right time,’ the company said in their white paper. “Trading is also a very technical domain where your area of expertise needs to span from an ability to perform technical analyses to machine learning and semantics analyses.”
The platform is aiming to support exchanges around the globe. The architecture of Kryll encompasses several servers in Europe, Asia and North America, enabling the execution of strategies.
The list of ten first exchanges supported by Kryll includes Bittrex, Coinbase, Cryptopia, HitBTC, Bitstamp and many others.
Earning by sharing
Kryll is trying to make lives of crypto traders easier with a ‘What You See Is What You Trade’ (WYSIWYTTM) interface. The technology allows design trading strategies and tests them. Once the strategy proves it works, users can set their tools to live-trade on their behalf 24/7. The project’s app makes their life easier.
In Blockchain era it’s all about sharing. On Kryll’s platform users can also rent-out their winning strategies to help fellow traders and, of course, receive some income for their generosity. The marketplace will also feature a chat section related to every strategy, where people would be able to receive advice from other users. Strategies on the marketplace will be rated by users.
Kryll founders are also planning to organize competitions, where people will develop the best strategy in a limited time. Winners will be rewarded with Krylls, the system’s internal tokens.
Designing the flows
The Kryll’s system has five main families of blocks for building a strategy:
The first one is called ‘Market Trends,’ providing trends analysis, such as price fluctuation, technical data analysis and prognosis based on machine learning.
The second type of blocks, ‘Trading Actions,’ allow to buy, sell and hold your assets, or stop the trading activity if needed. The third one is ‘Signals,’ a qualified Telegram channels or social network analysis from professional traders.
The ‘Operators’ blocks are organizing data feeds and signal interactions, for example, when BTC is receiving positive feedback on Twitter. Finally, ‘Notifications’ blocks keeps users informed of a strategy’s status by text messages, emails or smart notifications.
Cryptense S.A.S, a Blockchain company behind the Kryll project, is based in the European technology park of Sophia Antipolis in the south of France. In December 2017, Cryptense has raised 200,000 Euros from private investors before the token sale.
Trading in cryptocurrencies such as Bitcoin, Litecoin, Ethereum and Ripple exploded last year. Toward the end of 2017, the daily trading volume in the crypto markets equaled that of the NYSE. According to CoinMarketCap, by the end of December daily trading volume in cryptocurrency had peaked above 50 bln.