May Company Update: MVP Progress, Trading Bot, Legal, Knowledge Base
In May we were heavily focused on our MVP, trading bot, legal and our side-product. Read our company update below to learn more about what we were up to last month!
We are getting close to launching our MVP, that will allow you to browse through some parts of our ecosystem. Our developers have built the base framework for the MVP and integrated account functionality to onboard new users and assess their risk tolerance for the trading bot.
Currently, the MVP is populated by placeholders to highlight future PlutusX functionality. Work has started on integrating real-time market data into the PlutusX framework.
Besides our MVP, we are excited to launch a side product of our ecosystem soon that a lot of people will appreciate. The development of this product is very close to being finished. In June, we want to focus on finishing the functionality and then doing internal testing for 1–2 months depending on the outcome.
This product is a part of the PlutusX master plan to set ourselves as a leader in this space and produce high-quality content that our audience and the crypto community enjoys.
We are on the proper trajectory for potential investors and clients. Unfortunately, a lot of the substance is hidden behind legal and we are not allowed to release until they are complete.
“It is okay to state that PlutusX is shortly embarking on a 506c offering of convertible promissory notes to fund platform development and operations.”
Candice Owens - SEC Attorney
In our last update, we released the beta version of the trading bot for developers and curious individuals to download, test, and/or build on.
Over the last month, we have tested the bot for about 24 days, using both backward testing and forward simulation with demo (paper) money. The bot experienced a consistent daily positive ROI. However, gains decreased by half every-time the principal balance increased by a factor of 10.
Returns we have experienced so far
- 1,000.00 USD = avg. daily ROI of 209.30%
- 100,000.00 USD = avg. daily ROI of 76.12%
- 1,000,000.00 USD = avg. daily ROI of 34.83%
This month we plan to begin testing with a live account. We expect a dramatic decrease in daily ROI gains as latency between execution orders occur and scale with increasing principle balance.
Overall, we are still on track with a promising release of the bot once legal permits.
Trading Bot Challenge
We have launched our trading challenge to gather some of the world’s best developers, traders and quants. This will help us build a cutting edge trading bot.
- Sharp Ratio = 1.0 < x.
- Profits = 100% annually.
- Backtesting data for the top 5 coins. (BTC, ETH, XRP, BCH, EOS)
- Backtesting data must start of each coin up till May 1st 2018.
For more information, visit our website.
We started writing our knowledge base, and so far updated our FAQ and are almost done with the glossary.
The glossary contains 100+ of general crypto, trading and investing terms. It gets updated with new data on a daily basis, and it will continue to grow as the industry develops.
During the following month, more will be added, because building a proper and thorough knowledge base is an ongoing process.