Dear Community,
Thanks all for participating in our Autonio Foundation AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.
Introduction!
Mayank – Hello @koermiz @Cptkvs welcome to CryptoNationIN 🥳
Tobias – Hey, thank you for having us ✌️
Loïc – Hey, happy to be here! Thanks for the invite
Mayank – Glad to have you with CryptoNationIN🎊 Before we start, I request you to tell about yourself.
Tobias – Hi, my name is Tobias. I am one of the core members and communication lead of the Autonio Foundation. My background is mainly Project Managment and Engineering in the field of Automation. I’ve followed Autonio since around November 2017, quite shortly after I bought my first tokens. Time went by, and I got more and more involved with the project. First I became an Admin in the main chat and later on the Community Manager. I am really happy today that I decided to stay accompanied with the project on its journey until today.
Loïc – Sure, so hi everyone! I’m Loïc. I’ve been into design for over a decade, and own a web-agency in France, where I live. Got interested in crypto in late 2017, and got really into Autonio almost straight away. I was active in the community which allowed me to be a community admin. I had then the great opportunity to be offered to help on the design and user experience side, so I’m currently the UX/UI designer of Autonio.
Mayank – Please tell our community about the Autonio Foundation.
Tobias – We’re an early stage DAO with the vision to build a prosperous community around algorithmic trading. The project was founded in 2017, with the goal to automate trading and offer a more profitable and secure trading experience. We’re developing tools and infrastructure to enable developers to build and users to exploit powerful auto trading tools, copy other traders, participate in trading competitions and generate passive returns. NIOX Suite is our toolset and its aim is to empower the anyone that is involved in DeFi creating autonomous systems to navigate the crypto markets with profitability, privacy and ease.
Mayank – Also let the community know about Autonio Products.
Loïc – We offer a range of tools around automated crypto trading, to allow everyone an easy access to trading tools that are usually not accessible. Our current apps are the NIOX Maker (automated market maker), the NIOX Trading Terminal (for algo-trading), NIOX AI (set of ML tools), and NIODEX (DEX that integrates natively our market maker). We are also working on a Marketplace which will allow any user to purchase algos, and enable him/her to get quickly set with an automated trading strategy.
Twitter Questions
Q1. Is there a minimum amount required to stake our $NIOX token? Can we unstake our $NIOX token whenever we want or is there a time for which they remain locked?
Loïc – Regarding the staking, there is a minimum amount of 300,000 NIOX tokens needed. It will make you part of the Autonio DAO. You can unstake 21 days after your initial staking, and need to keep your stake for 1 year to be able to claim staking rewards.
Tobias -Btw, everyone that wants to join our DAO is welcome to do so, just dm a mod in our group, there are still some open seats 👍
Q2. As a trader like me, the security of my funds is my first priority before choosing any exchange for trading. How much secure NIOX is? What programmable technology & security developed by your team to build the platform very secure?
Tobias – Everything we build is as decentralized and as trustless as possible. We never store your API keys for example on our end. We ensure to use systems that are widely known and vetted by big opensource communities.
Q3. When is your next Liquidity Mining Campaign and are incentives available so i participate? Tell us about your partnership with Loopring Exchange. Do you also plan to partner with popular DEX like KyberSwap and UniSwap to increase userbase?
Loïc – We’re launching a new Earndrop campaign which could be compared to a Liquidity Mining Campaign. By using our NIOX Maker app, you will cumulate rewards in NIOX. The more you use it, the more rewards you get. More announcements will come very soon regarding that, the initial one can be found here : https://twitter.com/AI_Autonio/status/1314984207731642368?s=19.
Q4. As a trader, I prefer to choose CEX for trading because of using DEX is more complicated. So, what can you tell to bring us using Niodex rather than any CEX? And why must we use Niodex while there were more popular DEX, let’s say Uniswap?
Tobias – A lot was done in development of DEXes. Loopring DEX for example is a orderbook based DEX with a trading experiences that comes very close to the ones that are centralized. Our own DEX will also count on Layer 2 based solution in the near future, to make trading there as easy as possible.
Loïc – CEX obviously still is the norm in terms of volume and ease of use. But DEXes are getting better very fast, and offer interesting privacy and security alternatives to CEXes. NIODEX interest would be that you have our tools natively integrated into them, which would allow you to automate super easily your strategies on it, from one single window.
Q5. Launching a digital asset trading platform at this time is a bit ambitious after the events in terms of security that have happened. How do you give confidence and guarantee security to your users to believe in your project?
Loïc – We rely on proven thid parties like Metamask to take care of your security. You never have to share anything private that would give direct access to your funds with Autonio. Also when you trade with our tools, you’re using the exchanges APIs, which can be programmed to not allow withdrawals for example.
Tobias – Also we will go open source soon. As soon as we are open source there will surely be dev bounties for everyone that is willing to contribute. Also if you really want to use our tools should for sure also join our trading group. There are a lot of helpful people that are always willing to help beginners. But we will also release educational content in text and video form soon.
Q6. Autonio is meant to help empower DeFi by developing accessible, easy to use and affordable trading tools to its users. How difficult would it be to develop a tool on Autonio, and are there tutorials to learn how to use them, specially beginners?
Loïc – Developing a strategy on Autonio is fairly simple (Market Making can be done in a few clicks!), but it still requires some basic knowledge to make the better use of it. We have a great community ready to help on any question you have, and are currently doing efforts in making our tools as easy to use as possible, but also providing great resources for beginners (video tutorials for example).
Q7. Being a hybrid Decentralized and centralized is quite wise for Autonio team, in near future do you think will be the best solution for NIOX (AUTONIO) to be a fully decentralized ? Is it polkadot/cosmos/kava/or any other chain that are being considered?
Tobias – We are constantly looking for other scaling solutions that might fit our portfolio of products. For example we are currently in talks with a big Layer 2 provider in terms of partnering and porting some of our products over to their ecosystem. But more on that will be announced when it’s safe and done. But we also constantly try to implement new DEXes and protocols into our market maker.
Q8. Despite connecting my METAMASK to the NIOX DEX, it still asks for my private key to enter to activate the Market Maker. Is this process necessary to trade and safe and will it be removed in the future?
Loïc – We are aware and totally agree that this is not an ideal solution. The key isn’t shared with us directly, it stays locally on your computer. But it’s still not as safe as it should. It is mainly due to it still being in beta, but we’re working on it so that it won’t be necessary with future releases of our DEX.
Tobias – Our DEX will get back into focus soon. There are some awesome news brewing around it atm.
Q9. 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?
Tobias – Because we like to have our focus on decentralized exchanges, and the throughput and performance of the Loopring DEX is exactly what fits our Maker Module, which is capable of placing 38 000 orders a day. So we need an environment that is able to keep up with our tools.
We have not completely ported over to Elrond, there will be an Elrond version of our Token, and some of our tools will use Elrond as a trustless and powerful backend. For example our DAO infrastructure will be ported there, and we will build a bridge for our token to make it transferable between Ethereum and Elrond, and the other way around. NIOX was always intended to be a mulit-chain token.
Q10. Can you provide some information about your future project NIOX AI please? What will be the mission of that and what values will it add to your ecosystem?
Tobias – AI, or better machine learning algorithms will play an important role in our tools in the near future. First implementation will be for example to enable the market maker to tweak its setting based on changing market conditions. Recalculation and resetting of the spread are two use cases that come to mind there. The role of AI will also grow over the time for us. We will be building a trading related AI marketplace with our partner Singularity Net as a sub market of their already existing infrastructure.
Telegram Questions
Q11. COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says??
Tobias – COVID didn’t have much of an impact on our workflow, since we as a team are widely spread over the globe. We are indeed on track atm. We will have some nice news and releases still to come this year. Stay tuned.
Q12. (i) What is the minimum amount of tokens I need to hold in order to use NIOX Suite? Are there different plans depending on the amount of tokens I have in hold?
(ii) Can you be Market Maker with NIOX Maker also in the centralized exchanges? Is it necessary to give access via API’s or how does Autonio handle my funds?
Loïc – (i) The good news is that for now, it’s free to use! The different plans that will need you to hold NIOX tokens to access will be released later on, we’re still fine tuning those.
(ii) You can indeed be a Market Maker using our NIOX Maker on centralized exchanges like Binance, Kucoin, etc. For that you do have to first create an API on the compatible CEX of your choice, then enter the API details on your Autonio Maker account.
Q13. Will NIOX Terminal be integrated with centralized exchanges? Will their order books be available for trading? Is the Autonio team planning to create a platform to integrate all ONIOX Maker, NIOX Terminal, NIOX Exchange, NIOX DAO и NIOX AI products for easy access to users?
Tobias – There are already several centralized exchanges implemented into our maker module. We also have Binance, Bitfinex, KuCoin, Beaxy and DigiFinex.
We want to have all modules to be in one place in the end, to make is as easy to access as possible for every user.
Q14. Who is the AUTONIO platform for? For professional traders? How can regular non-expert investors use your platform?
Tobias – The Maker Module is quite easy to set up, tbh. But it will also get some advanced settings in the very near future, to please both, pros and beginners
Q15. Each project created has its own mission and goals, so what are Autonio missions and goals in the future? How important Autonio will be to everyone in the future
Tobias – Our mission is to democratize algorithmic trading and to build a prosperous community around it.
Q16. Currently a lot of crypto investors use phones to work, so does Autonio have a plan to develop a platform on IOS or ANDROID?
Tobias – we hired a full stack android developer not long ago… that’s all I got to say about that 😁
Q17. With NIOX maker users can become liquidity providers, what are the advantages of doing so through this product instead of directly in the specific exchange?
Loïc – Providing liquidity with NIOX Maker allows you to automate your strategy. You still technically do it directly in the specific exchange, we’re just a tool that helps to automate that easily.
Q18. What does #NIOX think about solving issues that the DeFi ecosystem still can’t solve? and why this is the problem important.
Tobias – Lack of liquidity is one of the major problems in the DeFi space. This is one of the problems we tackle by providing our market maker, and making it accessible to a broad audience.
Q19. Liquidity is the challenge of defi, how does Autonio solve this problem?
Loïc – Agreed, liquidity is for sure one of the biggest challenge for DeFi. We do our best to help solve this by:
- Creating tools that anyone can use, not just “crypto whales”. And to make them as accessible as we can.
- Our Market Maker is specifically designed to enhance liquidity, and the fact that it’s automated makes sure that it keeps the liquidity in a tight spread (defined by the user) which is great at facilitating volume.
- We try to stay open and partner with great actors of the DeFi world, to build bridges that will better DeFi as a whole.
Q20. Can you tell me what are the uses or roles that can be used the $NIOX token? Have any special benefit?
Tobias – With NIOX you will be able to access the tools and services we provide. You can also stake those tokens and become part of the governance of our project as a DAO member.
Thank you to Tobias Kirmes and Loïc Arnould, and Community for participating in the AMA. Have a nice day
