I built an AI crypto trading bot with $0.5+ billion trading volume. Ask me anything!
Max Yamp
40 replies
Launched in 2020, at peak in 2021 managed $12.4M in assets, in total generated $550M in trading volume through CEX like Binance, Coinbase, and Kraken. All trades were executed by AI!
The project almost collapsed during the 2022 FTX crash and trading bot FUD!
A lot of lessons learned!
Ask me anything!
P.s.: today launching an AI DeFi product 👀
Replies
Romain Blumberger@romain_blumberger
Is it still a good time to build in Cefi, or would it be overall a better idea to build in Defi?
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@romain_blumberger CeFi with all the regulatory scrutiny looks more and more challenging for builders. Also, CeFi market has gotten quite saturated. Building in DeFi is relatively easier and less competitive. The niche is still small with a lot of upside potential
@romain_blumberger be sure to check out launch today! - https://www.producthunt.com/post...
@theiblb the product could be used by everyone with an account on Binance, there was no knowledge required - complete One Click set-and-forget experience.
We used Performer models (early variations of GPT) back in 2019-2020 when developing the first concepts of the AI trading strategy.
It felt like something unique and very interesting. I remember watching AI make trades every night and wondering how did it make decisions.
Are DeFi trading bots possible? How would you implement AI to a self-custodial wallet, connected to a DEX?
@mike_arteta DeFi trading bots are possible. You can either host a bot as a smart contract and give "access" to your funds on a self-custodial wallet.
Or you can make a separate smart contract (vault) which is managed by a bot. You will need to deposit assets to the vault for the bot to trade and withdraw when you want to take profit.
What's the key behind a successful startup? Starting something is definitely not easy. 🤔
@kronii__ouro right timing and good execution. 99% startups (especially in web3) now fail because the cannot execute on their promises. Work on your operational excellence
How can an AI trading bot effectively utilize machine learning techniques to adapt to changing market conditions and make informed trading decisions in real-time?
@iyunade_ayomiposi that's what AI does :)
But the problem often is latency and availability of data. It would require significant resources to feed all the available trading data to the AI every second/milisecond. So oftentimes AI might have an incomplete picture of the market just because it's too expensive to give it all the data there is
This project looks very interesting.
Any experience is needed to use?
And what are platforms used for that?
sorry if the question is too personal, how to do all this? do you have any background in IT skills? or crypto enthusiast, the new product is really good, I tried it
What are the possible result of the AI crypto trading bot in the future?
How has the recent volatility in the crypto market affected the performance of your AI trading bot?
This nice. Incase of building up what are the necessary procedure to follow to have a better result?
How did you find initial product-market fit?
what made you continue to build this project??
What are your challenges and trials in restoring market confidence?
can AI crypto trading bots be a solution for novice traders?
why did you choose to build a project on web3 ?