May 25, 2021
True P&L — AMA Summary
On Monday May 17th, the DuckDAO community had an AMA with the True P&L team.
“Invest in algorithms created by the best traders”
TrueP&L is a financial ecosystem designed to help users maximize the utility and profitability of their crypto assets through a variety of on-chain trading and DeFi products.
The main product, a Robo-trading platform, allows users to select from a range of trading bots, each designed by successful traders within their own right and directly audited by the TrueP&L team to assess its viability and safety.
Helpful Links:
Participants:
True P&L — Pavel — CMO
DuckDAO — Pep — DuckDAO community representative
Please note that the following summary has been edited for clarity.
Pep
Welcome everyone to another DuckDAO AMA.
We are joined again today by Pavel Likhomanov from True P&L.
On behalf of the DuckDAO community, I’d like to welcome you back to our channel :)
👋
Pavel
Hi everyone! Thank you for inviting us!
Pep
Pleasure to have you here
Can we please start with an introduction for you — what is your background/experience both in the traditional space, and crypto space?
Pavel
Sure!
Pep
Also anything you can tell us about the team would be great
Pavel
Hi. My name is Pavel, I am CMO@TruePNL.
I have 6+ years experience in Marketing and PM in Fintech and crypto space.
As for my teammates. They all are also experienced guys.
CEO of True P&L, Ruslan Abdullin
Ruslan has 4 years in the crypto space and has had a successful exit before. Ruslan has been focused on marketing and founded a successful marketing agency (TGE.company), which helped up to 250+ projects in the crypto-space. Ruslan and Slava also created an exchange (Top200) which was acquired by a US company 1.5 years ago.
Ruslan’s LinkedIn account
Viacheslav Tiurdenev, COO of True P&L.
Viacheslav has 4 years of experience in managing IT and blockchain development. He was the exchange co-founder and operating director.
Evgeniy Ivanov, CTO of True P&L.
Evgeniy has 12+ years of tech development, with the last 5 years on CTO/Tech lead positions. Also 6+ B2B developed projects from scratch to commercial production.
Pep
Great experience both in fintech and crypto…combined I can see each of your strengths
At a very high level, can you please give us a brief description of what the True P&L project is about?
Pavel
Briefly, TruePNL builds on-and off-chain financial products for retail investors to achieve a beautiful and transparent investment experience. Robo-trading marketplace is the first project in our ecosystem.. TruePNL develops products to help investors grow their capital without deep knowledge in trading, giving them an opportunity to choose strategies that suit their risk profile and get income with minimum efforts.
You can check our website and socials:
Pep
This is truly great. Not only for traders who don’t have the trader’s mindset but also for traders who want passive income.
I personally am a trader but I would use this service because often times I don’t have time to look at charts
This is like having a helping hand.
Pavel
Yeah. Trading bots help both newbies and experienced guys!
Pep
👍
We see many funds and partnerships are interested in True P&L but the most notable being with Binance. What can you tell us about the Binance partnership?
Pavel
Yeah, we are working hard and negotiating with many partners. Binance is a market leader so it’s not a surprise that we started our cooperation with them.
“TruePNL has a Binance broker license as is an official partner of the Binance exchange.”
The Binance team is working closely with us to provide a premium API for the Robo-trading Marketplace as well as collaborative marketing campaigns
Pep
This was a great move by your team to target the strongest first. Others will follow.
Pavel
Thank you! 🙂
Pep
Right now Binance seems to be the only exchange that you can do auto trading from. For Americans, will they be able to use the bot for Binance.US?
Pavel
Yes, all Binance users (including Binance US) have access to our bot.
Pep
😘
Music to my ears! So many members of ours from America and unfortunately miss out on a lot of opportunities
Would you be able to share with us which exchanges would be upcoming for auto-trading?
Pavel
We are in touch with several top-tier exchanges, unfortunately, I can’t reveal the names now but we’ll do announcements really soon.
So don’t forget to check our socials 🙂
Pep
Awesome! We love Announcements!
Please feel free to share your Announcements channel so our members can join
Pavel
Yep. I mentioned it in my intro. Here is the group
Pep
Perfect. Thanks 🙏🏽
So just to confirm, the users funds stay in the users exchange account and they don’t need to send you any funds in order to use auto-trading correct?
Pavel
Of course! We don’t have any access to the funds of our users. All funds stay on your exchange account
Pep
How technically savvy does a user need to be to set up the auto-trading bots?
Pavel
Absolutely not savvy. It’s really easy, you just need to create API keys in your exchange account and add to our bot. It will take only a few minutes.
Pep
Perfect…. so users from all different levels could be included!
👍
Pavel
Any level
Pep
Currently your webpage states that you have 800+ users. What is the projected growth rate for new users?
Pavel
Yeah. I guess, now 1200+ is a more accurate figure. I am not sure that I can determine the exact growth rate but we are doing our best and growing rapidly week to week!
Pep
Hey, a strong team which projected growth right now is a good hold for me.
Do the auto trading bots use leverage or are they strictly trading spot? If leverage is an option, does the user have a say on how much leverage can be used?
Pavel
Spot trading is the main instrument but we also have margin with up to x3 leverage (with possibility to increase it). Beside this, we’ll add new instruments soon.
Pep
I’m assuming that the bot has an algorithm to determine stop losses? In case the trade goes wrong?
Pavel
We don’t provide such settings to our users, because in more often cases “stop-losses” which are added manually by users just harm and reduce bot performance. But our bot strategies have already included stop-losses.
Pep
I agree… this is the perfect answer.
Does the bot have multiple TP’s (take profits)? Or is it one TP per trade.
Pavel
Depends on bot strategies. Some of them have multiple, some — only one per trade.
Pep
ok…so different strategies offer different options. That’s great!
Pavel
Yeah. You just need to choose or use several strategies at the same time 🙂
Pep
What about time frames? Say you like a strategy, but you want to make more trades …can you change the time frame from higher to shorter?
Pavel
Yes, it’s possible to choose. As well as different strategies that need different timeframes.
Pep
Awesome!
How does security play in? If users share their APY Keys, how can they be comforted that their keys are safe?
Pavel
It’s absolutely secure. As I mentioned earlier, only the user has access to his funds. API keys stored in an encrypted way and no one has the access to these keys. Only you.
Pep
👍
Ok now the fun part!
What utility does the $PNL token have?
Pavel
$PNL is a utility token of all our platform’s products. In the beginning, holders will be able to pay Robo Trading bot fees and the opportunity to have access to advanced bots by holding enough $PNL. Speaking of Defi products, $PNL will help users to manage and create On-chain Community Portfolios. We’ll also implement $PNL staking. Anyway, blockchain is such a great technology platform that allows us to adapt the best Defi products on the market.
Pep
Perfect! So the more they $PNL they hold the better for them to pay the auto trading fees.
That’s a great utility because users are getting returns from the auto trader so they will have no problem holding…if anything, they will want to hold more!
Pavel
Yes!
Pep
Ok so we’re done with our prepared questions. Is there anything else that you would like our community to know about the project?
Pavel
Yes. I want to say that robo-trading is our first project of the ecosystem but now we are very busy with the token. And tomorrow 2 pm UTC we’ll have a public offering on Duckstarter (and some other platforms). Feel free to check info here
Pep
Great! It’s been absolutely fantastic to learn about your project.
I personally am eager to start using it.
Pavel
Thank you for your kind words!
Pep
Thank you so much for taking the time to answer so many questions!
Pavel
🙏
Pep
I will open the chat to the community to see if there’s any questions. If not then we will conclude the AMA.
Duck (user @cengizhantekin)
Do you currently or will you in the future have AI support for your trading bot or will they work based on the user commands?
Pavel
We definitely will add AI support.
Duck (user @cryptoneco)
Since crypto texts contain a lot of technical details, people understand the project better in their native language. For this reason, creating local communities enables the project to be conveyed to target audiences more easily. What is your strategy for local communities?
Pavel
Community is a very important part of every project. We are building it now. Not only English speaking, we have communities in Asia (Korea, China, Indonesia, Vietnam) and are planning to create new ones too.
Duck (user @Manu8281)
When I use your trading bot,is there any kyc requirement and is it secure ? Any country restriction for using your platform?
Pavel
You should pass KYC in your exchange.
As for security. We use top-notch technologies which have all the necessary security logic included by design.
We follow OWASP guidelines on building safe and secure applications, all sensitive and payment data are being stored in secure databases in encrypted form.
Duck (user @Ayh406)
Can I use the TruePNL platform easily? Is there a practice guide?
Pavel
It’s really easy to use. But we are preparing a tutorial video now. You’ll be able to follow the guidelines.
Duck (user @tatarrama)
There are so many scammers who want to “steal” using the crypto industry. Hundreds of projects are under suspicion due to a few bad people. How can you dispel investors’ fears and doubts?
Pavel
Yeah. There are a lot of scammers. But we are absolutely transparent, we are not hiding, we are in touch with every investor. So if someone has any doubts he could easily discuss this with us.
Pep
Pavel it’s been a pleasure hosting you and your project. I’m quite excited about your success as I think True P&L has a lot to offer to the crypto community.
Pavel
Thank you everyone for your time and good questions, thank you Pep for hosting us! Have a good day!
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