SUPERALGOS PROJECT
Catching Up with Superalgos, 2022 Mid-Year Recap
Despite the market debacle, the project keeps advancing on multiple fronts, producing significant trading intelligence while improving the underlying infrastructure.
Superalgos has proven to be extremely resilient as a project, and the current context is worth a quick reflection on why that is the case. Let me start with a few facts:
- The original idea of a trading bots platform that would foster the emergence of a collective trading intelligence was born in the summer of 2017, at the height of the ICO boom. Even though the industry was throwing millions into projects selling smoke and mirrors over white papers, the founders chose the honest, sustainable path: build first, deploy a token later.
- By October 2018, in the middle of crypto winter, the MVP was ready.
- The next bull run started in April 2019, and by August that year, Superalgos went open source delivering the alpha version of the Superalgos Platform.
- The Covid market crash hit in March 2020. By October of the same year, following an unprecedented international lockdown and the meltdown of the global economy, we delivered the complete multi-exchange, data-mining-ready Beta 6 version.
- Then the market went wild again, with Bitcoin printing all-time highs throughout 2021. We launched the SA token to incentivize contributions in March, and by November, after 12 open beta versions, the Superalgos Platform finally launched.
So, how come an unfunded project managed not just to survive — but to thrive — throughout multiple bear markets and the biggest economic debacle since the great depression?
The answer is that the Superalgos Project is built on sustainable open-source principles — not crypto buzz.
The collective business model distributing tokens exclusively among contributors is working. Incentives have proven to be sufficient to bootstrap the project, and have effectively isolated our development capacity from the whims of the market. Superalgos has zero overheads. We keep going no matter what!
In the current phase, the project is transcending its founders by growing a significant contributors base. Superalgos is a living organism that improves itself!
I wrote about this seemingly successful framework in my latest article about Open Startups and Collective Business Models in Open Source. It’s worth the read if you wish to grasp how Superalgos is laying out a roadmap for other projects to develop sustainable crypto economies around open-source collaboration.
Q1 & Q2 Developments
Talking about survival skills, this year has been no exception! Despite the industry being hit with yet another 70% market correction and a prolonged bear market, the pace of development has accelerated!
P2P Network & Trading Signals
We delivered the peer-to-peer network and trading signals functionality.
In the foundations’ realm, this piece of the infrastructure enables users of the Superalgos Platform to interact with each other at the level of trading systems, laying out the bases for frictionless collaboration in trading.
At a higher level, this is the infrastructure that enables Decentralized Trading Organizations and that makes copy trading among users possible.
This beta-stage low-level infrastructure is required for the upcoming copy trading apps that will lower entry barriers for regular crypto users.
The roadmap of this section of the infrastructure involves unleashing all of the above potentials. The community must get involved with testing and using the network and trading signals feature from within the Superalgos Platform until all wrinkles are ironed out.
The immediate use case of this infrastructure is copy-trading using the Superalgos Platform. This broadens the platform’s market niche to technical users that are not well versed with trading, but that can cope with the technical setup and engage with the community.
This opens up a use case for the token too, as the community may decide to eventually require copy traders to hold a certain amount of $SA tokens in their user profiles to access the otherwise free signals.
Bitcoin Factory Project
We delivered the Bitcoin Factory project, the community’s collective effort to crowdsource the testing of machine learning models to predict the next candle on multiple BTC markets and generate buy and sell signals.
The distributed system is made out of an ML Test Client Application that users run from within the platform to contribute computing power to the cause, along with the ML Test Server Application and the Forecast Client Application run by community members to coordinate the efforts and allow access to the resulting predictions.
Contributing computing power to test ML models is incentivized through the governance system. The idea is to develop an ever-growing distributed computation capability that will turn the Superalgos Community into an AI market predictions powerhouse.
At this stage, everyone contributing to the resolution of test cases may access the current predictions and implement them as conditions to trigger actions from within their trading systems.
The roadmap for this piece of the infrastructure involves abstracting the access to predictions from the actual process of testing cases and eventually moving out of the beta phase and into a stable production setup.
This project enables yet another use case for the $SA token, as users of the platform who wish to access ML predictions will be required to hold tokens too. It also allows mining the $SA token using computation, which may become very attractive for many users.
Portfolio Manager & Study Bots
We delivered Portfolio Manager and Study Bots.
Portfolio manager bots integrate into and expand the existing trading systems framework offering a set of robust risk management features, allowing users to manage the account’s capital, allocating and redistributing it across any number of trading systems.
Study bots complete the set of data mining capabilities enabling the combination of multiple data sources into the same indicator, including information from multiple markets and exchanges. This new type of data-processing bot exploits the modular nature of the infrastructure to the fullest, turning Superalgos into a unique data processing and visualization suit.
Marketing & Community Building Plans
The current context of the project pointing to the imminent emergence of the first two significant use cases of the token on top of governance makes up for a great opportunity to deploy new business development efforts.
Although the macroeconomic landscape looks grim and the outlook for a true and sustainable global economic recovery seems unlikely in the short term, Superalgos enjoys a track record of building — unlike 99% of crypto projects — along with solid fundamentals, and a sustainable development model.
As a first step, we have prepared an updated presentation deck to introduce the project to potential stakeholders. The plan is to run a distributed networking campaign involving multiple project representatives trained for the task.
The community has been incentivizing the development of local communities, awarding token rewards to groups that manage to self-organize into geographical chapters. At this point, we have the first successful case with a growing Turkish community. The community is developing its own Telegram group and a presence on social media.
This first language-specific community has been tasked with organizing our first Superalgos physical meet-up, likely to take place in Istanbul, during the first weekend of September 2022.
We hope more language-specific communities will develop with time, and local leaders will emerge. These leaders will represent Superalgos within their geographical areas of influence, and eventually, start attending industry events to promote the project.
These first few steps towards bootstrapping a grassroots movement around the project are a priority, and this shows in the distribution of token rewards during each governance event. Incentivizing the Superalgos Community to engage with these networking efforts is crucial for expanding our reach.
In the words of Safi Bahcall…
“The most important breakthroughs rarely follow blaring trumpets and a red carpet, with central authorities offering overflowing pots of tools and money. They are surprisingly fragile. They pass through long dark tunnels of skepticism and uncertainty, crushed or neglected, their champions often dismissed as crazy.”
We may all be a bit crazy in believing we can build a better world for our children by incentivizing collaboration over competition, but time is proving us right!
