SUPERALGOS PROJECT
Building Among Polar Bears, Late 2023 Mid-Year Recap
And sorting road bumps along the way!
After a fantastic 2022, I’m writing this very late mid-year recap of the Superalgos Project during what seems to be the start of the recovery of Bitcoin price after the November 2022 bottom.
Centralized crypto, however, is virtually dead in the water, with investors’ confidence at record lows after the multiple implosions of projects and companies last year. The SEC is finally suing everyone and their mother, making my November 2022 predictions about the then impending crypto ice age seem more accurate than ever.
That is the context.
None of the above affects Superalgos directly. However, bear markets indeed have the effect of slowing things down a bit. Maybe people become less enthusiastic.
And, of course, there’s less interest in trading, as you can see by the performance of typical search terms in Google Trends: interest spikes during bull runs and dwindles during bear markets.
Notice, however, how — pretty much like the Bitcoin price — the graph prints higher lows after each bull run. Interest in trading bots, copy trading, trading bitcoin, and trading crypto keeps rising.
Trading Signals Open Beta
We started the year strong, adding tens of beta testers to the trading signals broadcasting efforts. We had a good run while things were going smoothly, with people reporting happy copy-trading with minimal effort for several months.
However, the trading signals beta ran into some significant road bumps.
While working on the peer-to-peer network infrastructure to accommodate the up-and-coming Social Trading App, we may have introduced bugs that affect the stability of signal broadcasts, causing signals to stop flowing. It’s been a long and arduous bug-hunting effort. Many improvements have been introduced to the infrastructure in the hope of forcing the bug to manifest itself more clearly.
However, the creature remains elusive, and issues persist to this day.
Codebase contributor Bastian Dombret recently joined Signalytic, the first signal broadcaster. Working from within the team, he should be able to close down on the bug and find the cure.
Sooner than later, we will end up with a more robust peer-to-peer signal distribution setup and the service will once again shine.
Issues Reflect on the Token Price
In the previous recap, I pointed to the appreciation of the token price driven by organic demand for the token to access signals. In this first half of 2023, we can see a retraction of the price, most likely reflecting discontent by previous buyers as the copy-trading service became almost unusable for certain periods.
It’s tough to see we couldn’t sustain organic demand. On the other hand, it’s good to confirm that the token use case works exactly as intended. If Superalgos delivers value, demand for the token rises to access the premium community services. If we can’t keep up with our own goals, demand dwindles. Fair game.
Social Trading App
This year saw the formation of a strong team of devs who dove into the Social Trading App project. They reported significant progress during the first half of the year, and I hear we’re close to seeing a functional V1. Some work is pending on the social graph, to make it scalable and faster-running.
Check the progress on these PoV reports:
What’s Up for the Second Half?
We’re only a few months away from the Bitcoin halving and, most likely, the next bull run. It’s an amazing opportunity to bring Superalgos to a wider audience!
The Social Trading App and the peer-to-peer trading signals distribution infrastructure are the right vehicles to do just that. Our doors are wide open for more developers to join the project!
