RIALTO.AI has reached its maximum cap of $10 million in pre-crowdsale, 10 days before the crowdsale even started. For the ambitious project the hard cap was set quite low which might result in the continuing demand of XRL tokens once they will be listed on exchanges.
RIALTO.AI plans to be the largest arbitrage fund and market maker in the cryptocurrency space. The project’s core idea is arbitrage, which is a process of exploiting the difference in price of the same asset (such as Bitcoin) on two separate exchanges by executing a simultaneous buy and sell. For example, if bitcoin is trading for $2580 on Coinbase and $2540 on Bittrex, one could profit by purchasing the cheaper asset on Bittrex and selling it on Coinbase. With the funds gathered by the crowdsale, the team plans to scale up existing infrastructure, software and a pool of capital.
Given the fact that the exchanges in crypto world are not yet technically robust and regulatorily transparent as the ones in the financial industry, the RIALTO.AI’s risk exposure will be lowered by dividing the funds between cold wallets and several exchanges. The latter are potentially vulnerable for hacker attacks, denial of service, etc. To mitigate that risk, RIALTO.AI will use the balancing system of storing portion of its funds in cold wallets and will only be transferring the optimal amounts needed for the trading positions.
The RIALTO.AI team is formed of experienced computer scientists, artificial intelligence experts, and specialists in market synergies and finance. Such collection of talent seems to be a well matched team not usually seen in the cryptocurrency space. Combined with the proprietary algorithms backed with machine learning, specifically developed for arbitrage trading, RIALTO.AI is on a solid path to become the first large scale arbitrage fund in the cryptocurrency space.
Follow further development of the ambitious project at www.rialto.ai and RIALTO.AI official social media channels.
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