Bot Ocean

What is Bot Ocean?

What is Bot Ocean? To answer that, let’s start with the problem. With the continuous need to look for ways of financing, crypto has slowly become one of the more popular methods of investing. However, investing and trading in cryptocurrencies still remains quite difficult and complex for normal users. It would often require substantial research and lots of knowledge on various topics to have constant positive results. Even when you are an experienced trader, a lot of the existing platforms are difficult to use and understand which creates an extremely time-consuming process.

The Solution…

Now with so many platforms out there, is there one that can solve all these issues faced by crypto traders? Well… we have your solution with Bot Ocean. Bot Ocean hopes to create a truly decentralized platform that will automate and simplify the trading experience for new and experienced traders. The platform will be a one-size fits all solution to all crypto trading concerns. The Bot Ocean ecosystem will compose of back testers, strategy Shipwrights, and exchange connections to help provide a robust trading network. Moreover, the platform hopes to provide users with state-of-the-art signals, bots, tools, and various automation tools to achieve the user’s needs. 

Image taken from Bot Ocean Whitepaper.

So what exactly does the one-size fit all solution include?

There are various features that the Bot Ocean offers to provide users with a comprehensive experience onboard. These features include:

Autonomous Trading Bot

The Bot Ocean platform allows users to utilize automation to better capture trading opportunities. So the platform will test the strategies against historical data to create the most extensive and robust solution.

Backtester

The idea of backtesting is to allows the testing of a strategy or model based on previous historical data. So this helps to show the viability of the strategy against previous data.

Strategy Designer

Bot Ocean supports traders with the ability to backtest against sets of data available in the largest exchanges. Furthermore, this allows the platform to provide high quality analyses for the users.

Strategy Marketplace

Users on Bot Ocean can take advantage of the strategies and strategy portfolios available on the platform. These options will all be backtested to ensure the safety of the user’s assets.

Live Trading Bot

For any user that does not want to design their own trading methods, they can utilize a live trading bot to optimize their returns.

Image taken from Bot Ocean Whitepaper.

Decentralized Account Management and Payout System

Users can access their accounts without needing to go through Bot Ocean. The platform will not have any knowledge or interference if the user deals directly with their own cryptocurrency platforms. All the payout will also happen through a smart contract system which ensures the transparency throughout the platform.

Exchange Account Aggregation

Manual traders can access their portfolios and view all their open trades and take action with Bot Ocean. So there will be a control center available for users to make the most out of the platform.

Portfolio Tracker

Hold-ers can easily track their portfolio with their app by inputting their addresses. The platform will contain both tracking and trading tools so that users can have control full over their finances.

Analytics Dashboard

Bot Ocean has a ready-made dashboard for users to have a record of their trades, transactions, and balances. Moreover, it will be one of the most intuitive platforms for users to check their cryptos.

Social Copy Trading

The Social Copy Trading ability will allow you to copy whatever the trader is doing. It is an automated tool that will replicate a professional trader’s trading strategy. And unlike traditional brokers, the platform will only take a share of your winnings meaning there are no fixed charges from the invested capital.

Mobile App

Bot Ocean has a mobile app that will allow users to access their cryptos through their phones making their crypto experience much more convenient.

Tell me about the different account levels…

The Platform Users

Platform users consist of two primary users which include Anglers and Shipwrights. Bot Ocean democratizes the trading tools and hopes to provide a low entry barrier to trading by following a freemium model.

The Anglers

The Anglers are representative of the users that create an account on Bot Ocean to connect strategies to their exchange accounts. They will not need to develop any strategies as they can just follow existing ones. To utilize the bots, the Anglers will have to connect their exchange API keys to their Bot Ocean account and then pay a tier fee. Once that is done, the trading process will start automatically. Anglers are split into various different levels based on the last 30 day trading volume using the Bot Ocean Strategies.

The various levels are listed below:

Image taken from Bot Ocean Whitepaper.

*Note all the platform fees will be computed in ETH using the CMC price for the base token of the order.

The Shipwrights

The Shipwrights are representative of the users that create trading strategies and publish them on the platform. They will be split into different levels depending on their AUM. And different from other platforms available, Bot Ocean does not require strategy creators to have any personal funds available on the platform. 

The Walrus:
  • Monthly loss must not be greater than 20% in the previous six months. (unless the market experienced a drop). In addition, they may consider new strategies like backtesting results. 
  • Not copying other Shipwrights
  • Must be an Angler with minimum AUM of 0.1 BTC
The Manatee:
  • Been at the Walrus level for at least 30 days
  • Have an average of 10 daily verified copiers with a combined AUM of at least 5 BTC
The Narwhal:
  • Been at the Manatee level for at least 60 days 
  • Account has average equity of 2.5 BTC 
  • Have an AUM of at least 25 BTC
The Thousand Tonne Beluga Whale:
  • Been at the Narwhal level for at least 60 days
  • Have an AUM of at least 100 BTC

*Note that the stages of Shipwrights will update every Sunday night at 22.00 UTC. So there are no withdrawal fees for Shipwright funds as their rewards will be transferred to the Ethereum addresses on a monthly basis.

Is there a token?

Yes, the Bot Ocean platform has its native token known as the BOT token. The token will provide users with a lifetime discount to platform fees. Furthermore, token holders that pay with the BOT token will have a 50% reduction on fees. So tokens that are received from paying fees in the Bot Ocean wallet will be instantly burned. And tokens received by the strategy creators will be transferred to their wallets.

What about governance?

The governance system of Bot Ocean will be dictated by the Ocean DAO. The Ocean DAO will provide a democratic way of deciding on business strategies, strategy index components, and future platform developments. The token holders will represent business partners and also the board that will manage the marketplace. Token holders will also have the ability to vote on strategies that will make up strategy indexes, and they will also have the chance to access early strategies before other users. All new features and platform changes will initiate from the Bot Ocean board. Once the board proposes changes, the DAO members will then participate in a voting process. Furthermore, all votes will be cast on-chain and will be completely decentralized. The DAO members will have 5 days to cast their votes (Yes, Abstain, No). Once the voting ends, they’ll count the votes and the decision will be implemented.

Concluding thoughts…

For both an inexperienced trader and an experienced trader, the Bot Ocean platform proves to be a perfect platform for everyone! It allows newcomers in the space to have similar advantages as the pros. It will truly capitalize on the volatility of the crypto market and provide users with benefits! If you would like to learn more about the platform, feel free to check them out here! 

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