Living by algorithms is hard and boring, but trading by algorithms is useful and easy. And today we would like to tell you about the AMA session with our friends from Autonio. The AMA took place on October 09 and our guests were Ali Raheman and koermiz.
The total reward pool was 1000$ and has been splitted in 3 parts.
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Autonio :grinning: welcome to Satoshi Club:grinning:
D. | Satoshi Club: hello everyone! hello people from Autonio!
Serg | Satoshi Club: Welcome guys 🙂
Ali Raheman: Hey there! Thanks for having us
koermiz: Hey, good to be here
Mary | Satoshi Club: Could you please tell us about yourself and which way you had to pass to start with Autonio project?):grinning:
Ali Raheman: I’m Ali, I have a background in produc designing, software development, research and project management.
Autonio was founded in 2017 and the first iteration of the the product was a simple tool we made for ousrelves, to automate our crypto trading. Trading with its volitality, FOMO and FUD can be a profitable but uncertain market. So we built a trading platform where you could create your algorithmic trading strategy and deploy it accross different exchanges. So yeah, built an MVP back in 2017, kept working on improving the platform and were able to build a strong core community around the project with minimal resources. It’s been a wild ride for the project and the crypto ecosystem in general 🙂
Mary | Satoshi Club: Great background, and yes, fomo and fud need to be mathematically order)
koermiz: Hey, my name is Tobias. My background is in the field of engineering. I hopped on the Autonio train quite early in my crypto career, and been around since. I got more and more involved over time and am pretty happy about this at this point :sweat_smile:
Mary | Satoshi Club: Great, Tobias) thank you for intro) And, guys, let’s face it, because of the sometimes complicated terminology, not all users can understand what you’re doing. Can you explain in simple words what NIOX Maker, NIOX Terminal, NIOX Exchange and NIOX DAO do. I am sure, that you have a lot of very useful features)
Ali Raheman: NIOX Suite is a toolset Autonio Foundation has been working on since its inception. All the tools you’ve listed above are a part of the NIOX Suite; a toolset that helps you navigate the crypto markets with profitability privacy and ease. The end goal is to build a prosperous community around algorithmic trading, and that’s what these different elements in the suite offers.
A decentralized exchange, an algorithmic trading terminal, a decentralized AI network powered by SingularityNET. The project is transitioning into a decentalized organization and that is what NIOX DAO is all about. while it may seem confusing, we’re building all of this into a simple intuitive UI making it easy for our users to access all platform features including exchange of assets, trading accross different centralized & exchanges, buy/sell trading strategies and a lot more!
Mary | Satoshi Club: Ok, i am a single trader, have some crypto on exchanges. What i will be able to do? Do i need to transfer funds to NIOX or just connect exchanges accs, using API keys?
Ali Raheman: yes, you’ll simply add your exchange API keys and you’ll be all set!
koermiz: Let me talk about the NIOX Maker, while Ali can give you the bigger picture. The NIOX Maker is quite a powerful tool to provide liquidity on orderbook based exchanges. You can set it up quite easily. We have been able to make it work on decentralized exchanges quite early. It has quite an high throughput, with up to 38k orders a day. its also quite easy to use, after you connected it via API to your account on the exchange, you only need to chose your pairing and set refreshtime and a spread.
Mary | Satoshi Club: Thank you, guys, now it’s almost clear) And to make everything clear like a water on Maldives we have some questions from our community)))
Q1 from bitcointalk user Avangator @thebastaboy on Telegram
Looking at your whitepaper I felt a bit confused about what Autonio is ultimately attempting to achieve. Are you mainly focusing on the AI side in bringing autonomous technologies in trading and especially offering them for the DEXes or do you have some plans in becoming a DEX yourself?
Ali Raheman: We do have a 0x based exchange and it fits into the complete decentralized solution we’re looking to offer. In very simple words – we’re building a prosperous community around algorithmic trading. We do this by democratizing access to trading tools and infrastructure.
koermiz: So basically we want to build a prosperous community around algorithmic trading. AI will for sure play an important role embedded in our tools. Our focus always was the decentralized side of trading. And as Ali already mentioned, we already built a ourselves dex :sweat_smile:
Ali Raheman: Regardig Ai – it definitely is an important component to our solution. Traditionally AI tools have been inaccessible to general public, and with singularityNETs decentralized we’re breaking that barrier to entry, enabling all users to utilize the power and opportunity that comes with AI
Mary | Satoshi Club: Can you give a link to it? It’s for erc20 tokens? I mean DEX)
koermiz: https://exchange.autonio.foundation/market/niox/usdt It is not very populated atm, since our focus is on the NIOX Maker.
Mary | Satoshi Club: Now you advertised it in the group with 32k members:joy:
koermiz: hahaha, yeah true
Ali Raheman: We have some exciting news coming up next week regarding the exchange as well! The exchange will be updated and improved significntly over the course of next few months, but like I said, more on the exchange biz next week 😊
Mary | Satoshi Club: Yes, we need a hint) we like to new secrets before they become announcements 😂
D. | Satoshi Club: buy the rumors sell the news )
Ali Raheman: lol, that’s how it goes. In our case though organic growth, adoption is the focus. So it’s less hype, more utility and fundamental adoption, that’s the stuff that excites us
koermiz: I think we should also say that our DEX has market making tools for everyone to use inbuilt.
Ali Raheman: So we recently started working with one of the leading layer 2 protocols i.e. Loopring. We’re working with another layer 2 protocol on some cool collaborations 🙂
koermiz: Would love take the stage here, but we all have to wait until next week :sweat_smile:
Mary | Satoshi Club: Oh, but don’t forget to share this news with our group and of course we will follow your announcements)
Q2 from bitcointalk user george.bend @george_benderos on Telegram
You are capable of doing 85000 orders per day, but how many are done effectively? What is the demand and how many people are using it?
koermiz: basically it can set that amount of bids/asks effectively. With the Taker Module you can even execute this amount of orders at market.
Ali Raheman: Great question. We provide the tools however, trading performance, profitability is attributed to a traders ability to use the tools at his/her disposal.
koermiz: This is very important to notice, there is in general no riskless way of approaching markets.
Mary | Satoshi Club: You mean riskless by trading through API keys?)
koermiz: In our case your API is as safe as your own computer is, since we don’t store the APIs on our side. they remain local on your machine
Mary | Satoshi Club: Ohhh, understand) because actually even APIs without withdraw permissions not totally safe) If you remember VIA and SYS binance pamps)))
koermiz: Yeah, the past sadly showed that
Ali Raheman: In terms of performance history, our tools have been used several times to finish top 3 in binance trading competitions, we’ve generated significant amounts of liquidity on centralized and decentralized exchanges. In weeks to come we will be incentivizing the useage of our tools, rewarding people based on how the utilize our trading tools across different exchanges.
Mary | Satoshi Club: Has anyone ever count how many orders execute on Binance or Uniswap every day, for example? May be you saw statistics?
koermiz: In the first week we got listed on the Loopring DEX some users of our DAO and our trading channel generated a volume of over 50k USD. Best thing about this is, that it was actual tradable volume, so to say, real volume
Ali Raheman: Yeah, as pat of the binance competitions our users have generated and reported between 1-1.2M$ volume by a single user. Note that this was part of a tarding competition so that’s the whole goal of the event
Mary | Satoshi Club: Unbelievable numbers)))
Q3 from Telegram user @pandasbitcoins
Your project was established in crypto in 2017. Please explain how did you survive through all this hard years in crypto and how did your the vision about your project changed from 2017 until today
Ali Raheman: So we raised 55k in an ICO back in 2017, and we still launched the product and the project went viral.
That had a lot to do with the team, our dedication and our passion to build products even in the 2017 vaporware ICO rush. The crypto bull run also had a lot to do with that ofcourse.
Viral growth while was great and exciting was detrimnetal to the overall growth of the project, a lack of financial resources and our unwillingness to dump token in the market clubbed with the fact that others were raising millions of $$, we began to fall behind
Then came the bear market where most shitcoins were weeded out. Only projects with strong teams, and products survived.
As for how we funded the project, we’ve been self funded for the most part with some private investors that have supported us along the way. We have a software develoment firm that has been able to facilitate the development, and here we are 😄 Our vision has remained the same, but we did have to pivot time and again to survive.
It’s worth pointing out that over the past 3 years we have been able to work with amazing people, worked out partnerships with the likes of SNet, KuCoin.. have some influential advisors and recently on-boarded Luke Wagman who was a core member of the Coinmarketcap team
Slow and steady, we’re getting that recognition we deserve
Mary | Satoshi Club: Great resilience, my respect to you)
koermiz: I am quite proud that we are still going, and I am very sure that this will pay off :blush:
Ali Raheman: we have a long way to go still, but we’re all very passionate and realistically optimistic about the future 😄
Mary | Satoshi Club: But i think, now it’s time to earn rewards, am i right?) How do you plan to earn? Fees, sell access to certain functions of the platform?
koermiz: We will introduce our subscription model soon, but for now our tools are free to use, to get more users onboard. So everyone that would like to test our Maker Module, feel free to do so at
http://maker.autonio.foundation/ There will be basically different Tiers that base on a hold to use model
Q4 from Telegram Username @muw_muw
How can users backtest your AI bots before putting the bots into a real action? Do you have some testnet or test platform for this?
Ali Raheman: So we’re in the process of updating our core trading terminal which includes a backtesting tool. With it you can backtest your trading strategy followed by forward testing it with demo balance and finally when you’re happy with the performance you can deploy it on the exchange of choice with live balance.
At the moment our focus as Tobias mentioned is the NIOX Maker. We’re solving a real problem of liquidity with it, and crowd-sourcing market makers by incentivizing them through campaigns such as liquidity mining is the best way forward
Mary | Satoshi Club: So, basically, if i have a bot i can try to test on your terminal, yes?
koermiz: you can test your settings you made within the terminal
Mary | Satoshi Club: Do i need to deposit funds or it is testing tool?
koermiz: There are no funds needed for testing. The module will simply use a demo balance you can determine
Q5 from Telegram Username @jobel4
Autonio Foundation’s vision is to bring together the advanced traders and the novice traders . As a novice trader, how will you manage to teach me some trading strategies? Do you have some tutorial videos or teaching lesson for trading? What will be the task of advanced traders? Are you also open for professional trader?
Ali Raheman: Detailed documentation, tutorials are in the works. The NIOX Maker is designed in a minimalistic way to allow the average user to get started and learn with ease.
Advanced traders are an important part of the ecosystem, average users will be able to copy other traders, buy trading strategies and hire pro traders for portoflio management services, all using smart contracts in a trustless environment.
Mary | Satoshi Club: So, you will have copy trading?
koermiz: This is a planned feature for the future, yes
Mary | Satoshi Club: Good feature) very popular 😉 Waiting for you tutorials, it’s really important to educate newcomers)
Q6 fromTelegram Username @jpsarmah
The Autonio founding team was formed in the Summer of 2017. But your main product NIOX Suite has not yet released its major components NIOX AI and NIOX Wallet. Why is there this delay with the release and when will the product be released for full public use?
koermiz: Although we started in 2017, we started planning on the NIOX Suite quite some time later. Before this it was only the “normal” algorithmic trading terminal. And the ideas grew over time, and the portfolio of possible tools grew.
Ali Raheman: That’s right, and as I mentioned, being self-funded for the most part, we have to focus on improving the fundamental offerings that acts as a gateway to the entire toolset. It’s important to prioritize things that are expected to add the most value and that’s what we’ve been doing 🙂
D. | Satoshi Club: do you have approximate dates, when NIOX wallet will be released?
Ali Raheman: NIOX Suite integrated solution is expected to be released this quarter. That will include wallet functionalities, some AI features. Stay tuned for more on that
koermiz: Although I know what’s coming, I am looking forward to it myself personally :sweat_smile:
Mary | Satoshi Club: Actually i am also very interested in it))) want to add that i like all your answers) thanks) and what do you think about our second part live questions?) 1-2, 100qs?))) 😉What your trading algorithms told you?)))
Ali Raheman: hahaha – let’s see, we’ll answer as many as we can
Part 2 — live questions from the Telegram community
Q1 from Telegram user @jpsarmah
September 2020 saw two major partnerships for Autonio with Loopring and Elrond. Firstly, why did you integrate Loopring Exchange into NIOX Maker and Secondly, why did Autonio migrate to Elrond?
Ali Raheman: Indeed, last month has been important for the project. Loopring is a top tier scaling solution. Liquidity is a major pain point for decentralized exchanges and a barrier to entry and adoption of crypto in general. We’re actively working integrating decentralized exchanges to help further the adoption and growth of the ecosystem and large.
Elrond on the other hand offers highthrough put low cost infrastructure to build decentralized solution, that’s primarily why we chose to port our token and tools on to Elrond. Furthermore these projects have a large userbase exposing our tools to a wider audience .
Q2 from Telegram user @hungnnguyen
What’s the relationship between Autonio and Loopring, are you partners or it’s a parent company?
koermiz: We partnered with Loopring. We integrated their DEX into our Market Maker and plan build some more stuff on their Layer 2 solution.
Q3 from Telegram user @Nickkiii
Do you have plans to launch another Liquidity Mining Campaign? I would love to participate and earn rewards.
Ali Raheman: Yes, we’re actually launching an EarnDrop campaign that will incentivize users to test and trade with NIOX Maker. Based on the useage of the platform, variables such as liquidity, volume, trading duration we will reward users with NIOX tokens. This we believe is a unique and exciting way to promote adoption of our tools and growing our userbase. An official announcemnt on this matter will be released today 🙂
Q4 from Telegram user @kripto_mangunkusumo
Can you elaborate more about The MM bot? what is the advantage and how is its work and function?
koermiz: The Market Maker sets a buy and a sell order around the current price with a pre set spread. The spread percentage determines how far your orders will be away from current price. Your orders stay in the book until they are filled or until the refresh time is over
Q5 from Telegram user @DiegoRME
Can you tell me what are the uses that we can use with the $NIOX token? does it have any special use? how to cover trading fees, withdrawals etc …
Ali Raheman: The NIOX token as the life blood of the NIOX ecosystem, is used to gain access to the trading toolset on a Hold to Use basis, providing easy opt-in/opt-out and a personalized learning curve, with minimal financial implications.
It serves as a governance token, enabling DAO members to participate in the decision making process to further develop the project, while receiving staking rewards for being DAO members, or benefit from zero trading fees on the NIOX Smartdex. Also, it can be used to pay less trading fees on NIOX Smartdex, by normal users.
Further more, it enables the sales of trading strategies, Trading Terminal best practices tutorials, trade coaching and fund distributed trading pools.
The NIOX token is governed by a decreasing inflation rate, issued yearly to the DAO members, proportional with their stake amount.
NIOX, as a token with increased velocity between the Trading toolset and the token economy, provides democratized access for the common crypto user to the Prosperism culture and philosophy, serving the ecosystem as a multipurpose token, ranging from utility to decentralized governance.
Q6 from Telegram user @kun4321
What are the outstanding products of the project? Give some information about NIOX AI (coming soon)
koermiz: Some of the first implementations of AI in our tools will be for example things like Auto-Spread-Calculation for the Market Maker. This way the Module itself can adjust the set spread based on earlier outcomes, so the trader does not have to adjust it by himself
Q7 from Telegram user @armahes
Do you have a global ambassador program or referral reward system? Do I get any benefit from holding in the long-term?
koermiz: We will soon launch an Ambassador Program. Also we will announce a campaign today, that will reward the usage of our NIOX Maker. More on that later today :+1:
Q8 from Telegram user @TVT6VI
If I want to increase the quality of the service as well as the long-term incentives. Does Autonio support or are willing to listen to contributions? Do you have any local ambassadors or referals marketing campaign?
Ali Raheman: As a matter of fact, an ambassador program is in the works and expected to be rolled out in next few weeks. The community is the most critical part of the project and we will be introducing several campaigns to incentivize community participation and engagement
Q9 from Telegram user @melanintrish
Do you plan to add more support for new blockchains and decentralized exchanges?
koermiz: Yes we look into implementing other chains and exchanges in the future. Our plan is to make NIOX a multichain token
Q10 from Telegram user @Vishukijaan
how can we collaborate or help NIOX for the development of the project?How important is the community to the NIOX?
koermiz: Community has always been a key factor for us. We will open source soon, so developers are free to contribute at any time
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Autonio. They’ve prepared 4 questions for this part. The total reward pool for quiz was 600$.
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