Join the NFT ETF World, Trading Bot Competition AMA — The Introduction of Trading Bot Event

2023/02/09 14:51:17

Dear KuCoin Users,

Time: 2PM - 3PM Feb. 6, 2023 (UTC)

KuCoin hosted an AMA (ask me anything) session with Senior Researcher of Fracton, John, in the KuCoin Trading Bot Discussion Group.

To thank all users for their continued support of KuCoinTrading Bot and Fracton Protocol, KuCoin Trading Bot will hold a two-week-long ‘Join the NFT ETF World: Trading Bot Competition”' event.

Q&A from Fracton Protocol

Q: What is Fracton Protocol?

John: Dedicated to abstracting the financial layer apart from the utility of NFTs, Fracton's Fractional Fungible tokens (FFT) can be easily integrated into both CEXs and dApps, and also offer solutions for both inter-protocol liquidity providers and fractionalized NFT market makers.

Fractionalized ~6,000 ETH worth of blue-chip NFTs.

Generated higher trading volume than actual NFTs.

Created and listed 20+ blue-chip NFT ETFs on Kucoin and Uniswap.

Listed governance token $FT on Kucoin.

Q: How does HiNFTs work?

John: It allows NFTs to be fractionalized and repackaged to ERC-20 tokens where each ERC-20 token is backed by 1/1,000,000 of the original NFT.

Q: What are some challenges and limitations with traditional NFT ownership?

John:

1. Bad NFTs drive out good: Due to high floor prices, newcomers are only limited to the bad NFTs and likely to lose everything on their NFT purchases.

2. The dilution effect: NFTs want to expand users base and launch cheaper sub-collections, but it is at a cost of the whole ecosystem.

3. Lack of composability: Unlike DeFi and fungible tokens, NFTs cannot be efficiently combined or manipulated to create unique and capital-efficient use cases.

Q: What are Fracton Protocol’s key features?

John:

1. Say Hi to every NFT you love. We fractionalized expensive NFTs to make them affordable for everyone to trade/own, so you can say hi to the good ones, and bye to the “fake” ones.

2. Dollar cost averaging into your favorite NFT. A Bored Ape costs $100K; it is a BIG purchase. Don’t FOMO, slowly buy in via hiBAYC. Redeem a BAYC with confidence, make informed decisions.

3.Swap NFTs from the pool. Tired of how your NFT looks? Swap to another one within the same collection.

Q: Give us some quick facts about Fracton Protocol.

John:

1. Wide range of selections: Over 20 NFT selections.

2. More Trading opportunities: Higher volume than actual NFTs.

3. Participate in IEOs: New NFT tokens debut on Kucoin every week.

Q: Where to trade Fracton’s Fractional NFTs?

John: Search on kucoin with “hi”

There are 20+ trading pairs you can choose from…

Azuki → hiAZUKI

BAYC → hiBAYC

Chromie Squiggles → hiSQUIGGLES

Otherdeed for Otherside → hiOD

ENS 3 digits (999club) → hiENS3

Mfers → hiMFERS

Q: Why should we use the trading bot on Fracton’s pairs?

John: 1. Spot Grid - Kill volatility and take advantage of the NFT ETF.

hiDOODLES case study: The underlying asset price remains steady, but the hiNFT price has higher volatility. Here, you can use grid trading bot to take advantage of the “market noise”, knowing that the price of hiNFT should reflect the value of their underlying NFTs.

2. DCA bot: Slowly DCA into your favorite blue-chip NFT.

~1,006,000 hiDOODLES = 1 Doodles NFT.

Q&A from KuCoin Trading Bot

Q: What are the rules for Activity 1?

Dantas: Activity 1: Lucky Draw, Share a 112,000 HIVALHALLA Prize Pool

During the activity period, we will randomly select 20 lucky winners everyday from users that meet the conditions to share a 112,000 HIVALHALLA prize pool. Each lucky winner will get 400 HIVALHALLA.

Q: What conditions do users need to meet?

Dantas: 1. Create a new Hi-token bot or keep at least one Hi-token bot running for more than 24 hours on the day of the lucky draw. Note that only Hi-token trading pairs will work, eg. hiRENGA, hiVALHALLA, and hiMFERS.

2. Have a total investment amount of Hi-token bots >=200 USDT. You can run one bot with an investment of more than 200USDT, of course, you can also run 2 or 3 bots and make their total investment more than 200USDT.

3.Bot arbitrage times >=1. As long as the price range you set includes the current price, and the number of grids is reasonable, then the bot will be very easy to complete arbitrages.

During the event, you can earn rewards repeatedly. For example, you created a hiRENGA spot grid bot on the first day, and the investment amount is 200USDT, and it has been arbitraged once, then you can join in the lucky draw on the first day. On the second day, if your hiRENGA bot is still running and has been running for more than 24 hours, then you can still join in the second day's lucky draw.

Q: What are the rules for Activity 2?

Dantas: Activity 2: Hi-Tokens Trading Competition, Trade to Win a $7,000 Worth of Prize Pool

Users will be allocated to different divisions according to the trading volume (buys + sells) and runtime of Hi-Tokens of their KuCoin Trading Bot. They will then and share the corresponding prize pool.

Q: Is it okay to create any bot?

Dantas: No. Except futures grid, you can create other 5 types of bots. Hi-tokens are not listed on the futures market at present, meaning you cannot use the futures grid to trade Hi-tokens. You can create spot grid, martingale, smart rebalance, infinity grid, or DCAbots.

Q: Is it okay to trade any trading pair?

Dantas: No, you can only trade Hi-token trading pairs. This event is specifically created for Hi-token trading. Additionally, you must create new bots after the event has started. If your previously-created bot is still running during the event, it will not be counted in the effective trading volume.

Q: Is there anything else we need to pay attention to?

Dantas: There are 3 more points that you must pay attention to.

1. The trading volume will be calculated in USDT. Only when the bot completes a trade will it be counted toward valid trading volume.

2. The reward amount will be allocated in accordance with the proportion of trading volume. Reward amount = prize pool * user trading volume / total trading volume of the division.

3. The trading leaderboard will be updated every 2 days in this Telegram group where traders can check if they are on the list.

Within 3 days after the end of the event, the final list of winners will be announced. Rewards will be distributed within 7-14 working days of the campaign completion.

If you are new to Grid Trading Bot, it has two features to help you get started easily. One is called AI parameters, which will suggest the bot settings based on the historical data of the coin.

The other way is to copy other traders’ settings. For example, On the KuCoin App or website, you can find the APR leaderboard of bots in the trading bot page. You can find the top gainers, view their Grid settings parameters and copy them directly.

After using one or two Grid Bots, you will have to set your parameters according to your own experience and preferences.

Q: I am a newbie. Can I also use Grid Trading, Choose AI mode, or configure the mesh manually?

Dantas: If you are new to Grid Trading Bot, it has two features to help you get started easily. One is called AI parameters, which will suggest the bot settings based on the historical data of the coin.

The other way is to copy others’ settings. For example, in the leaderboard, you can find the top gainers, view his Grid settings parameters and copy them directly.

After using one or two Grid Bots, you will have to set your parameters according to your own experience and preferences.

Finally, you can open the KuCoin App to find a Trading Bot. Try to create your first bot!

Q: Trading bots are still a new thing for some people. Are there some tutorial videos?

Dantas: Yes, Of course.

1. How To Copy The TOP Trading Bots: https://www.youtube.com/watch?v=RMXBEASEfcU

2. Spot Grid Trading Tutorial: https://www.youtube.com/watch?v=wAJ7tzDcw6I

3. Kucoin Futures Trading Bot: https://www.youtube.com/watch?v=eWrLWQssp4w

4. Trading Bot Tutorial 2022 (Step-By-Step Guide):

https://www.youtube.com/watch?v=-gUU0NpY2bU

5. More tutorials:

https://kucoin.notion.site/KuCoin-Trading-Bot-Tutorial-Center-a83bab1123094dea957851811a1a2fb7

Join NFT ETF World, Trading Bot Competition

🎁 Join Trading Bot Competition, Win 10,000 USDT Worth of Rewards!

. . .

If you haven’t got a KuCoin account yet, you can sign up here!

Follow us on Twitter, Telegram, Facebook, Instagram, and Reddit.

Language