AlgoBot unveiled the partnership with Algogene for code-to-earn. What does this partnership aim to achieve?
As an algorithmic trading ecosystem to match outstanding algorithms with licensed financial institutions, AlgoBot could increase the supply of algorithms from this collaboration. Algorithms are the starting points while becoming financial end products to investors are the lower stream of the industry.
Code-to-earn is the first ever concept relating to coding, algo trading, and tokenomics. It is to incentivise algo creators to develop good algorithms. AlgoBot marketplace went live to connect with the first coding research lab partner Algogene. Algo creators could write code in Algogene and submit the algorithm to the AlgoBot marketplace. Then, the algorithm’s performance is evaluated, given an overall score, and live tests using the algorithm can be conducted for months. In order to earn a token, creators need to pass two assessments: overall score and live test. Overall score is the performance of an algo judged by six factors: activeness, predictability, robustness, consistency, profitability, and recovery.
AlgoBot will run the algo using live data feed and update the algo’s return, performance statistics, and score on a daily basis. Algo creator is eligible to receive token rewards after a 2-month live test with an overall score over the threshold. In addition to token rewards, algo creators are entitled to revenue split from automated copy trade after partnering with financial institutions.
The ultimate goal of code-to-earn is to democratize the algo trading industry and increase the mobility of intelligence, hence creating financial freedom. The blockchain records the transaction time and details in real time, and its immutable characteristics can act as third-party audits to confirm the effectiveness of the algorithm. The encryption and traceability of the algorithm by NFT protects the intellectual property rights of programmers, while allowing investors to identify the origin of the algorithm to enhance investment confidence. The trading algorithm in NFT is creating a new era of automated and decentralized asset management.
ALGOGENE is the first coding lab in Hong Kong for learning, developing, testing and executing quantitative investment strategy. It is also a 3 patents awarded data driven investment company, leveraging information and computational advantages of Big Data and AI for algorithmic trading.
Official Web: https://algogene.com
AlgoBot is a disruptive tech company that aims to build a learning hub that provides online education about programming and developing algorithms. Moving forward, AlgoBot is positioned to become the leading company for Code-To-Earn and Learn-To-Earn business models.
Official Web: https://algobot.hk
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