SUPERALGOS PROJECT
Shifting From Balance Requirement to Token Power Requirement While Following Signals
An iteration adjusting trading signals to Governance rules
The News
Until now, you accessed trading signals disseminated over the Superalgos Network by holding a certain amount of Superalgos $SA Tokens in your Governance Address. While signals may have different requirements, the same account balance and resulting Token Power could be used to follow multiple signals. In fact, the same Token Power could be used to participate in Governance Programs, cast votes, and make claims.
We are transitioning to an improved logic where it will be required to specifically allocate Token Power to each signal you wish to follow. While you remain the owner of the tokens generating the power, the same Token Power can no longer be used to simultaneously follow multiple signals or participate in Governance Programs.
The Rationale Behind the Upgrade
Thoughts by Julian Molina.
The initial implementation was out of sync with the rules of our Governance Project, and that is one of the reasons why it’s being updated.
The Superalgos governance requires participants to wisely administer Token Power, using any unit of power for a single cause at any given point in time.
There are many reasons why the system is designed as it is, to list a few prominent ones:
- There must be a “cost” to participating in Governance, as participation without a cost leads to abuse and spam. In Superalgos, you don’t need to spend your actual tokens to participate, but you do need to spend your Token Power wisely, because it is finite.
- Token Power is the abstraction that enables participating in governance without an economic cost, but a cost in the influence you’ve earned by contributing to the project. If Token Power was reusable, then people with enough power would become too dominant in all areas of the project. That is not desirable. People should exert more influence over the areas in which they are more knowledgeable or interested in, and not have reusable power to influence other areas without a cost.
- The finiteness of Token Power underpins the Superalgos Meritocracy on which the design of incentives is based. To have more influence, people need to contribute more. Similarly, to access more signals, people are expected to contribute more too.
But most importantly, the second reason for this upgrade is that it lays the foundation for rewarding Signal Providers based on the Token Power allocated to their signals.
This is a crucial step forward in the governance of the project and the move towards a more algorithmic solution that can scale.
As a result, Superalgos will become an even more attractive network to disseminate signals with outstanding performance.
The Timeline
There will be a transition period starting today and ending on April 15th, 2023. Until that date, both the legacy and new setups will work fine. After April 15th, only the new setup will work.
If you do not update your setup in time, you will stop getting the signals!
How to Set Things Up
This section provides a step-by-step instruction on how to follow a Trading Signal by allocating Token Power to it. It will use the Signalytic Base Soaring strategy as an example. The procedure can be easily adapted to any other strategy available on the Superalgos Network.
These instructions assume you have already completed your setup of Superalgos, including the contribution of your User Profile. In case you haven’t achieved this yet, please follow the setup instructions and the Getting Started Tutorials available within Superalgos.
To start from scratch with following your first signal, begin with Step 1.
Note: Existing signal users wanting to upgrade their setup to the new Token Power logic should verify Step 4 and Step 5 and amend their User Profiles accordingly. Contribute updated User Profiles while maintaining existing Signing Accounts. Please also double-check you have referenced the very same Social Trading Bot node configured in Step 4 from the Data and Trading Tasks as described in Step 8.
Step 1: Load the Signal Workspace
Signal providers usually offer Plugin Workspaces that make it easy to follow their signal. Load the right workspace to get started. For our example, we are opening the Signalytic-Base-Soaring-Receiving Workspace.
Step 2: Load your User Profile
To add your User Profile to the Workspace, click your way through the following path of nodes on the Workspace:
- Plugins
- Governance Plugin Project
- Plugin User Profiles
Hover over the Plugin User Profiles node, select Add Specified User Profile and choose your own profile from the list. Your Profile will appear as a new Plugin File node. Hover over this node, and click on Enable Saving with Workspace.
Then save and reload the Workspace.
Note: Do not delete any other user profiles which may already be loaded in the Workspace. These profiles provide infrastructure required for the signal to work.
Step 3: Task Server Setup
After the Workspace has reloaded, find your User Profile node which should now be available on the Workspace. Hover over your User Profile node and click your way through the following path:
- Add Child → Add User Apps
- User Apps → Add Server Apps
- Server Apps → Add Task Server App
Step 4: Social Trading Bot Setup
Starting from your User Profile node, click your way through the following path:
- Add Child → Add User Bots
- User Bots → Add Social Trading Bots
- Social Trading Bots → Add Social Trading Bot
- Social Trading Bot -> Add Followed Bot Reference
Hover over your new Followed Bot Reference node at the end of the chain and select Create Reference from the menu on the left side. Choose the Signal Bot you would like to follow from the list. For this example, we are selecting Base Soaring — Social Trading Bot.
Once completed, the new branches in your User Profile should look like this:
Step 5: Allocate Token Power
The power required for listening to the signal needs to flow down to the Followed Bot Reference node. You can manipulate Token Power flows by adding either percentage or amount parameters to the Configure section of nodes on the path.
Note: For each node, you need to decide using either percentage or amount. Both must never be used together within the same node configuration!
In our example, the Base Soaring Signal requires an allocation of 50,000 Token Power. To allocate the required power in an easy way, hover over the User Bots node, click on Configure and add “amount”: 50000 to the configuration. Other parameters which may already exist within the section remain unchanged — apart from comma you may need to add in front of the new parameter! In our example, after adding amount, the configuration section of the User Bots node looks like this:
{
"socialHandle": "",
"bio": "",
"amount": 50000
}Note: Power means speed! When distributing signals, Network Nodes rank followers by Token Power, and send the signals one by one, in descendent order, meaning, first to those with the most Token Power, and last to those with the least. If you are keen to lower your signal latency, you may want to allocate more Power than the minimum required by the signal provider.
With correctly configured Token Power allocations, the result should look similar to this:
Note: If you don’t see any display of Token Power, this is due to Governance functions not being loaded in the workspace. You can change this by hovering over the small Workspace node at the center of the Design Space, selecting Add Specified Project and choosing Governance from the list. An alternative is to work on your profile from the Token-Distribution-Superalgos Workspace where Token Power is always visible.
Step 6: Install Signing Accounts
Look for the Profile Constructor on the Workspace. Hover over it and select Create Reference from the left-hand menu. Choose your user profile from the appearing list.
Next, select Install Signing Accounts from the right-hand menu of the Profile Constructor node and click again to confirm and proceed.
Your finalized profile will now look similar to this screenshot:
Step 7: Contribute your User Profile
After you have saved the changes to your User Profile, click on the Contributions tab at the right side of the screen. Submit your updated profile to the central repository by scrolling to the Governance-Plugins section, entering a short message what your change is about (e.g. “UserName Trading Signals Setup”) and click on Contribute.
Note: For this to work, your Github credentials need to be present in the section at the top of the Contributions tab. Please also double-check your own profile is the only one with changes before clicking the Contribute button.
It will take ~10 minutes until the network nodes will have processed your updated profile. You can continue with the following setup steps, whereas this time period will need to pass before you actually start your trading tasks.
Step 8: Set up Data and Trading Tasks
Find the LAN Network Node of your workspace. From there, multiple or all of the following paths will branch off:
- Data Tasks
- Testing Trading Tasks
- Production Trading Tasks
Follow each of these branches until you find Task Server App Reference and Social Trading Bot Reference nodes.
Hover over each of these reference nodes and select Create Reference from the left-hand menu. From the appearing list, depending on node type, select the very same Task Server App and Social Trading Bot nodes you have created in the earlier steps. There may be a lot of similar node names in the list — make sure to pick the ones from your own user profile!
These screenshots illustrate how the referencing should look like (relevant nodes marked with arrows):
Step 9: Configure exchange credentials
Locate the Crypto Ecosystem node in the workspace and follow its path down the Exchange Accounts route until you find the Exchange Account Key node.
Hover over it and click Configure to enter the access credentials to your exchange account. In case you don’t have credentials yet, you need to log in to your exchange account and generate them (usually under API Management or similarly named sections).
In case you want to use a different exchange than the one provided as a default within the workspace, locate the Crypto Exchange node and adapt the configuration accordingly.
Step 10: Set the amount of funds to trade with
Depending on if you want to test or live trade, follow the Testing Trading Tasks or Production Trading Tasks route from your LAN Network node.
Locate the Trading Parameters branch and the nodes Session Base Asset and Session Quoted Asset underneath.
Depending on how you would like to define your trading funds, hover over either of these nodes, click on Configure and set the initialBalance parameter accordingly.
In our example, Signalytic Base Soaring is a strategy trading BTC-USDT. In this combination, BTC is the base asset and USDT is the quoted asset. If you would want to trade this strategy with an initial funding of 100 USDT, you would therefore click Configure on the Session Quoted Asset node and set the configuration like this:
{
"initialBalance": 100
}Depending on the general setup of a strategy and the direction the strategy is currently trading (long vs. short), you may need to start off with either a Base or a Quoted Asset initial balance. Please verify the strategy documentation or the strategy’s Telegram group for further details and the current trading status.
Believe it or not: Your setup is now complete!
Let’s Start Trading
With your setup now complete, it just takes three small steps to start the actual trading!
Run your Data Tasks
Starting from LAN Network, find the Data Tasks node, hover over it and click on Run All Project Data Tasks. Click again to confirm.
If you follow the Data Tasks branch to its end, you should now see quite some activity as Superalgos starts obtaining market data from the exchange. Also keep an eye on the Console window which will inform you about possible errors occurring during the process.
You should get log entries similar to the following in your console window:
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-21 84.20 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-22 84.61 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-22 85.01 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-23 85.42 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-24 85.83 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-25 86.23 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-25 86.64 %
Binance BTC/USDT Candles Exchange-Raw-Data Historic-OHLCVs Internal Loop # 1 2023-02-26 87.05 %
Before proceeding to the next step, wait until all market data loads and indicator calculations have fully completed.
Run your Trading Task
At this step, you decide if you want to test or to live trade. Depending on your decision, follow either the Test Trading Tasks or the Production Trading Tasks path from your LAN Network node.
Double-check you have correctly configured the amount of funds you’d like to trade with in the Trading Parameters (see step 10 of the setup process).
Once you are set and all Data Tasks have completed loading, find the Task node under the Test or Production Trading branch, hover over it and click on Run.
Again, observe the console logs for progress and possible errors. If all went well, you should see begin to see log entries like these:
Signal Follow Request to Follower Test: Successfully subscribed.
Binance BTC/USDT Masters Low-Frequency Trading Main Loop # 2
Low-Frequency Trading Waiting for Paper Trading Session Heartbeat Trading Signals Receiving to be run.
Binance BTC/USDT Masters Low-Frequency Trading Main Loop # 3
Low-Frequency Trading Waiting for Paper Trading Session Heartbeat Trading Signals Receiving to be run.
Binance BTC/USDT Masters Low-Frequency Trading Main Loop # 4
Low-Frequency Trading Waiting for Paper Trading Session Heartbeat Trading Signals Receiving to be run.
Binance BTC/USDT Masters Low-Frequency Trading Main Loop # 5
Run your Trading Session
Now look behind your Trading Task until you find the Paper Trading Session (for test trading) or the Live Trading Session (for — well — live trading).
Hover over the node and click on Run. That’s it!
Again, the logs will show you if things are going according to plan:
taskHearBeat -> status = Candle Signal received, delayed 1 seconds. Position in Queue: 4 / 4
Binance BTC/USDT Masters Low-Frequency Trading Main Loop # 7
Starting Simulation -> initialCandle = 834 -> finalCandle = 835
Simulation Loop -> Candle Index = 834
Signal for current candle was received while running the simulation. Candle Index = 834 # of retries = 0 / 15000Please be patient: After starting the session, it may take a few cycles of synchronization until you’ll see messages like the above on a regular basis.
Observe the Beauty of Automated Trading
To have a more visual look on your automated trading setup, just open the Charts. Note there is a different chart view for test and live trading. With settings similar to the ones shown on this screenshot, you will soon be able to observe the trading activity:
How to Stop the Trading
Superalgos will keep trading as long as the process you started with node platform is still running — also if you close your browser window.
If you should ever want to stop the trading, just go back to the Trading Task and the Data Task, hover over them and click on Stop.
Get In Touch!
As you can see, Superalgos is an extremely powerful toolbox for your automated trading and copy trading needs. But the best thing about it are the people behind.
To get in touch with fellow traders, check out the Superalgos Trading Group on Telegram. The crowd there will be happy to support you in case you should be facing any issues with your Trading Signals setup.
Have fun trading!
Please remember:
None of the above is financial advice. Trading is inherently risky and you may lose parts or all of your capital.
Also notice backtesting performance is not an indication of live trading performance and live performance is not an indication of future performance.
(Copy) trade at your own risk!
