KuCoin AMA Series - CryptoIndex - Full Transcript
(UTC+8) 20:00:00, July 12th, 2019, KuCoin hosted the AMA(Ask-Me-Anything) session with CryptoIndex in the Official English Telegram Group, the Official Vietnamese Telegram Group, the Official Turkish Telegram Group, and Official Spanish Telegram Group.
The AMA session was composed of 2 sections: 1. Q&A from KuCoin 2. Q&A from audiences. During the first section, there was a time-limited giveaway questionnaire for KuCoin users to share 3,500 USD in CIX100.
The rewards will be distributed to winners who got full 5 points within 7-14 days.
*Winners must have filled in KuCoin accounts.
Introduction of CryptoIndex
Cryptoindex.com is an index of the top 100 performing coins, selected from a list of over 1800 coins and rebalanced on a continuous basis by a highly sophisticated neural network algorithm. Data is analyzed from tens of millions of trades and news announcements using Cryptoindex’s proprietary algorithm Zorax, information is also collected from social media feeds and through the use of AI analyzed to inform investors which digital coins have the greatest long-term potential.
Official Website: https://cryptoindex.io/
*For ease of reading, some text has been deleted
Section I - Q&A from KuCoin
KuCoin: Good day, VJ! Could you please share with our community, how did you as a representative of traditional financial assets came to the crypto world?
VJ: I was drawn into the crypto world via a project for a group of Asset managers looking for a way to reduce the amount of cash they put up for Variation Margin. We worked on the problem for a very long time and finally came up with a solution that tokenized the margin requirements. I already had experience in creating traditional financial indices. Having myself acquainted with cryptocurrency closer, I realized that this market needs a benchmark as Dow Jones and S&P 500.
KuCoin: What is unique in CryptoIndex project? Why should CryptoIndex become a "Dow Jones" or "S&P 500" on the crypto market?
VJ: It is the only dynamic index that consists of so many coins. The filter criteria also ensure that it's the businesses that it is focussed on. Moreover, also acting as an information service provider Cryptoindex is making cryptocurrency market more transparent and open to a wider community of users - especially newbies, but experienced and professional traders as well - this will definitely drag enormous attention to the index itself and serve for the organic promotion of CIX100 among crypto users globally.
As for the main advantages of our index compared to others, that’s neural networks we employ in our analytical processes, no other index does that. Also, we’re the only ones offering predictions on coin price dynamics for every token/coin in CIX100 portfolio, that’s another advantage on our part.
KuCoin:Could you please tell us about your team?
VJ: We have a team of professional analysts, developers, and quants experienced in developing financial markets indices and delivering complex products. We’re based globally with offices in Malta, London, and Luxembourg. Our working teams are diverse in terms of focusing on different aspects of our systems based on their technical expertise and actual professional experience. I'm very proud of the work they have done and how much they have achieved to date.
KuCoin: Then what about your main competitors? What do you think about CoinMarketCap indexes like CMC200/CMC200EX?
VJ: Even though there are a number of indices available in the market, none of them are as sophisticated or wide-ranging as the CIX100. Each has its role to play and they provide opportunities to trade across each other. However, our index can analyze more than 2000+ coins with over 200 factors such as social media, news, trading info, etc. To analyze this amount of information, you would need a team of more than 100 to provide a credible data source.. We have simplified this solution with Zorax, our AI algorithm.
We do not focus on market capitalization alone. The CoinMarketCap index includes stable coins, CIX100 does not. CMC200 and CMC200EX are good tools too. If you are professional or newcomer you should use all the tools available. It’s helpful to use different sources of information to get the full picture. At this point, there is no comparable product available.
KuCoin: Then what are your long-term plans for CryptoIndex project? What can we expect in the near future?
VJ: We aim to continue improving the accuracy and sophistication of the Index. Alongside that, we will look to roll out additional products in the regulated financial markets to augment the CIX100. We are investigating a number of options in that space now. Meanwhile, we’ll be working on listing CIX100 on more and more exchanges also adding new trading pairs for our CIX100 token and extending the range of information services provided by CryptoIndex.
Also this year, we are going to launch sector indices and social indexes. With sector indexes, you can invest in a whole economic sector, such as artificial intelligence, Market Place, etc.
Regarding social indices, users will be able to create their own products building a portfolio with any coins they prefer. Such indexes will also be analyzed based on 200 factors, users won’t need to dedicate huge resources to analyzing and creating their own indices.
We are very excited about the future of, not only the CIX100 but the family of additional products and indices coming in the near future.
Section 2 - Q&A Session from Audiences
Duration: 20 minutes
Q: Hi Mr. Angelo, It seems to be able to eliminate the question marks in the minds of unstable investors, but is there any security vulnerability in this algorithm? Can the Zorax algorithm be successful against potential external threats?
A: We are very security conscious and take every measure possible to protect the system
Q: When NASDAQ is going to come in cryptocurrency exchange
Then how much importance will be Crypto Index??
A: I think it will be a long time before exchanges like Nasdaq adopt Cryptocurrencies as the products themselves. However, Indices are something they can adapt fairly easily.
Q: Hello Mr. Angelo, What do you think about Justin Sun and Warren Buffet meeting? How can this affect the crypto industry?
A: It is the beginning of major institutions educating themselves more fully on the Crypto market. Someone Like Warren demonstrating interest is very valuable
Q: How can I use cix100 on your platform? Is it like indicator bot?
A: If you email the team they will give you a full breakdown on the user process
Q: KuCoin is a very good choice for listing. Do you plan to go to Binance also? And when?
A: We are talking to a number of exchanges though are very happy with our first important partnership at KuCoin
Q: Are you planning that CIX-100 will be a stable coin?
Q: Is cix100 will act as a portfolio manager or only give an indication about token/coin???
A: It can be used in that way if it remains to track the index on the exchange. The CIX100 will remain a utility token. Other products may perform that function later.
Q: How does cryptoIndex work to analyze a coin, when we have to buy and when it is right we have to sell it?
A: CryptoIndex doesn’t make buy or sell recommendations. It provides the data for the user to make those choices. We don’t know the current positions of the users so we just show the current direction and trends to allow the user to make their own choice.
Q: Last question for you sir, why do you think studying the dynamics of indices helps traders understand the impact on the cryptocurrencies of the individual?
A: I’m not sure it does. However, they are a very good indicator of the performance of the market.
Q: Why you call special system AI as "ZORAX"?
A: That was a name the team came up with. We felt it showed the automated aspect of the index calculations.