Tradingene, a blockchain-based auction platform for the creation and use of algorithms to trade in cryptocurrency has announced the launch of two major features for their investors. The platform’s marketplace for trading algorithms and subscription plans were released this week.
The marketplace allows investors to learn about algorithms, as well as evaluate and choose the most suitable method for their own portfolio. Tradingene features a marketplace where all algorithms pass a verification process and investors define success fees. This approach allows users to modify algorithms to fit their risk-return expectations.
Investors are now able to connect algorithms to their cryptocurrency accounts or follow algorithms by receiving signals. Marketplace auctions will run for up to two weeks, with the algorithms designed to operate for three months.
Additionally, Tradingene has confirmed the introduction of three subscription plans. The free Basic subscription is for beginners which allows them to subscribe up to three algorithms and receive trading signals with a one hour delay. The Pro subscription, which starts at $8 per month, has five algorithms in play with no delay in the sending of signals. Pro+ ($15 per month) is for more experienced users and will include instant Telegram notifications about algorithm trades and the number of subscribed algorithms are unlimited in this plan.
The algorithms currently available for subscription trade the ETHUSD, EOSUSD, BTCUSD, ETHBTC cryptocurrency pairs. Users who subscribe will track the performance of the algorithm that they choose from the date of subscription on their personal dashboard.
“The launch of these features underpins our belief that Tradingene could well be the future of trading. It is the new standard for taking advantage of the profits available from trading algorithms in the crypto space. For too long, algorithms have been available only to large hedge funds and bulge-bracket banks with the resources to invest in a team of creators. Our marketplace gives access to any investor interested in having the power of trading algorithms in their portfolio. We have set up a marketplace and subscription model which can be accessible to investors of all abilities who believe that algo-trading and blockchain technology are built to last.”
Summary of how it works:
1. A creator develops and backtests their trading algorithm on the Tradingene platform.
2. Tradingene checks the algorithm and puts it up for auction, providing information about risks, expected returns, and other relevant factors to investors.
3. During the algorithm auction, investors indicate how much money they are willing to connect and the success fee they are willing to pay. The auction provides a transparent mechanism for creators and investors to agree to the success fee for an algorithm.
4. Upon completion of each auction, a smart contract is concluded between the platform and winning investors. Investors make a small deposit into the smart contract.
5. Trading takes place on each investor’s exchange or brokerage account. Tradingene does not have access to the funds or even to information about the investor’s balances and positions.
6. The platform and developer earn money only if the investor earns money.