Autonio — The trader who never sleeps
“Autonio is a decentralized artificially intelligent trading system” utilising 30 key trading indicators. Autonio combines rigorous market analysis, with a user-friendly GUI allowing its users to conveniently formulate the best strategy for trading, in order to maximise returns. The other key side of Autonio, is that it allows you to follow other successful traders.
The Platform
Currently you can trail Autonio through back testing with 5 indicators, however the full live platform is due to be released by the end of this week. I have been in contact with Ali Raheman and his team, who have stated that their focus is on developing and deploying the best platform possible, rather than expensive marketing campaigns — and have recently confirmed that the platform remains on track. When launched, Autonio will have a $50/month price tag.
Algorithmic Trading Robots
Over the last few years, autonomous trading robots have become highly influential on Wall Street, as highlighted by, “Rise of the billionaire robots” which demonstrates why conventional Hedge Fund managers are being pushed out by “quants” (quantitative hedge fund managers) using trading bots. And it is easy to see why; when you want to make a lightning fast rational decision, based on large volume of numerical data, then a computer is the obvious choice.
While “Quants” are profiting from this revolution, (paywall), and “College Kids Are Now High Frequency Trading From Dorm Rooms”, with a price tag ranging from a few hundred to several thousand dollars per month for the most basic algorithmic trading software, puts them out of the reach of most retail investors.
Will This Work for Crypto?
Trading bots come into their own when high speed and indicator based decision making is required, coupled with extreme volatility. Meaning Autonio and other future projects could prove widly successful in the crypto market.
The Competition
From the research that I have done (and I stand to be corrected) there is no direct completion to Autonio’s platform. While there is some competition in the algorithmic trading side, the best of which is priced at $163/month and will allow you to use 2 trading bots. However having demoed this platform, I found the back-testing feature rather clunky. The main advantage that Autonio has over this competition, apart from its lower price point and improved GUI, is its ability to be able to copy successful traders, who can set a price for their strategy in NIO, which could become extremely popular in passive income circles.
Back Testing Results
We will have to wait for the release of the platform to see the full potential, however with a highly competent team lead by Ali and with the support of James Drake of the Embermine team, I have no doubt that Autonio will be a success.
However, for those of you that require a little more quantitative evidence, I have run a number of back tests and achieved some astonishing results. I have included a screenshot below of me hitting 410% profit in one week, which would total over 21,000% as an annual return, which is both impressive and exciting.
Even more impressive have been the winners of the NIO kings competition, the overall winner of which averaged 2,992% annual returns across five rounds of blind back testing on BTC ETH and LTC to USD pairs. [http://nioking.algoshare.net/]
NIO Tokens
Autonio held a ICO in September, with a total supply of 256,000,000 NIO for a hard cap of $10 million. However, with less than 50 investors and roughly $75,000 dollars raised, I initially believed the project may be in doubt. Yet due to the fact the prototype had already been developed and with the support of the Embermine team, the project continued and is still due for release on time.
What was even more impressive was that despite the rather under hyped ICO result, the Autonio team strived to put investors first, by providing large bonuses to those who participated and locking the majority of the NIO tokens, resulting in a 65,828,135 circulating supply.
Unlike a large proportion of crypto projects, not only will Autonio be releasing a working product just a few months after completion of their crowd sale, but the token model is designed to inherently, rather than just speculatively increase in value. There will be two main uses for NIO tokens, first to pay for the best algorithmic strategies, these and secondly to pay the monthly membership fee (all of these tokens will be burnt.)
At the current price, this is about 625 NIO per person/month, which with only the 650 telegram members joining, would still result in nearly 5 million (or 7%) of tokens being burnt in the first year alone. If this reached 10,000 users, this would equate to over 6 million NIO being burnt a month.
Market Potential
While I have detailed the value of Autonio above, I would always avoid investing in what I deem an overvalued project, no matter how good the product. Due to the fact that there is very little competition to compare Autonio to in terms of market cap potential, it makes an accurate valuation difficult. However purely looking at the copy trading side, examining projects such as Covesting, which is currently running an ICO with a hard cap of roughly $48 million. Or crypto investment funds, such as TAAS (market cap of $35.5 million and has delivered quarterly returns of 100% (annualised)), or even the popularity of etorro, which has more the 3 million users. With this in mind, it is fair to say that with a market cap of $5 million, NIO is majorly undervalued, and a valuation of $30 to $60 million within a year would be reasonable.
Conclusion
With Autonio due to release their platform next week, I personally believe there will never be a better time to buy NIO. However this is crypto, so DYOR, as any problems with the platform launch could have a serious impact on the price. While I believe this is highly unlikely, I will ensure I have funds free to top up my stacks if this is the case. Also for a great insight into the motivation of Autonio check out: http://prosperism.net/.
*Disclamer: I was an ICO investor and continue to hold my NIO.
