While anyone looking to build exchange connectivity can leverage open-source libraries, the offerings still need to be more mature to use out of the box if you want to trade competitively. Custom connectivity is required to maintain a speed advantage. Additionally, crypto exchanges do not have the robust technical infrastructure that more mature asset classes enjoy – as a result, exchanges frequently drop connections. For order execution to operate robustly 24/7, extensive workarounds, testing, and maintenance are required to deal with the idiosyncrasies of individual exchanges and ensure maximum uptime.
To overcome these challenges, CoinFi was developed. CoinFi is a decentralized market intelligence platform for the next generation of crypto investors and traders. We use many techniques to provide investors and traders with the information they need to gain an edge. These techniques include in-house and crowdsourced analyst research, trading signals, and algorithms.
CoinFi (COFI) is the world’s first decentralized crypto market intelligence platform, bringing Wall Street-caliber financial intelligence to the cryptocurrency markets. The company is based in Hong Kong and was founded in 2017 by technologists and former Wall Street analysts, equities traders, and hedge fund managers. It recently completed a $15 million private token sale to expand its technology and trading tools further. With a community of over 100,000 cryptocurrency traders,
CoinFi is poised to become the leading provider of market intelligence for the cryptocurrency markets. The techniques also cover specific cryptocurrencies as well as the overall crypto industry. CoinFi offers crowdsourced and professionally curated research, analysis, trading signals, trading algorithms, and market-moving news to give cryptocurrency traders the real-time market intelligence needed to gain an edge.
When unwinding a large, illiquid position, the algo also has to ensure that it is maximizing participation in the volume traded in the market, as it sells without moving the price. The algo dynamically weighs this factor in balancing the need for the best price with the need to maximize participation in the market.
The execution algo also randomizes order size and time of execution, so there are small individual sellers rather than 1 large seller to avoid frontrunning by market markers and quant algos that are sniffing out the existence of large sellers. This only scratches the surface of what their execution algorithms are capable of. Automating trade execution minimizes slippage, provides self-serve access and passes on cost savings to the seller.
The Signal Factory
To test the predictive power of signals, they employ the Signal Factory. This is an internal tool for quickly back-testing signals on historical data. Specifically, they run the signal datasets through a battery of tests at multiple granularities (daily, hourly, minute) and measure things like win rate, portfolio returns, etc. Naturally, they also test for significance (using both Bayesian and frequentist approaches).
The purpose of the Signal Factory is to speed up the build-measure-learn cycle. But it also ensures consistency in how we back-test signals, allowing for comparable metrics on the same data. They have also started experimenting with black-box methods where we combine vast amounts of signals and leverage machine-learning methods such as deep neural networks to make predictions.
Another signal that many users get excited about is whales moving their tokens. They track every single transaction happening on the blockchain for more than 1100 ERC20 tokens. This means we can alert our users whenever we see notable transactions.
The tricky thing about this is that it’s hard to find consistent patterns across all tokens. So instead of trying to look for an elusive ” unified whale token signal” through back-testing, they decided to let you watch tokens you’re interested in, and we’ll notify you whenever we see a transaction that’s in the 99.9th percentile going into an exchange.
Who are the founders of CoinFi (COFI)?
The key team members of CoinFi are Timothy Tam, Han Chang, and Nate Tsang. The team has spent considerable time, and effort implementing custom exchange connectivity libraries to handle all the edge cases exchanges can present. It’sIt’s always been part of their plan to deliver a free tier for the CoinFi platform, and they continue to do so.
What is CoinFi (COFI) used for?
CoinFi Trading Signals
CoinFi Trading Signals is the current flagship product designed to give you an edge in trading. The back-tested trading signals will alert you on buying and selling opportunities utilizing blockchain data to detect exchange movements and insider trading.
Gain access to CoinFi products.
Accessing the beta will require you to stake 25,000 COFI tokens for three months.
CoinFi offers a custom newsfeed with news type classification. It is an improved news and content aggregation overlaid on price charts per crypto currency.
How is CoinFi (COFI) unique?
Since the launch of CoinFi News in late 2018, tens of thousands of visitors have come to CoinFi News to follow the latest developments in crypto. While the original vision was for CoinFi News to offer crypto investors the ability to surface market-moving news, the landscape has changed dramatically. Still, they continue to make incremental improvements to CoinFi News to serve their regular users.
Users can research ERC-20 tokens via unique token metrics available on CoinFi.com. While all these metrics were created due to direct feedback from crypto investors, the most interesting metric is “Token Supply on Exchange.” When users move their tokens to an exchange, it tends to demonstrate an intent to sell, or at least higher intent to sell, than when tokens are held off the exchange. This data relies on their proprietary, comprehensive database of exchange wallet addresses.
The COFI utility token grants CoinFi users access to news, analysis, and hedge-fund-caliber trading tools on the CoinFi platform. It’sIt’s also used to compensate research contributors and analysts in a token-for-information ecosystem. CoinFi successfully raised $15 million in an ICO in January of this year. The CoinFi token offering presents a unique opportunity for mainstream apps to tokenize and offer everyday consumers the chance to earn and spend cryptocurrencies.
At a high level, they’re interested in trading signals that 1) CoinFi users want and 2) enable better trading decisions. It’sIt’s important to note that these two are not necessarily the same thing. There could be examples of signals that users want but do not correlate with price. And vice versa – there might be signals that users are unaware of, but that would enable better trading decisions if you had access to them.
Because of this, they follow two parallel (although not independent) routes to help them decide which trading signals to ship. However, their main focus in the early stages is on signals that are attractive to users AND predictive of price change.
How many CoinFi (COFI) coins are in circulation?
CoinFi has a current supply of 300,000,000 with 214,403,033.80556887 in circulation.
How is the CoinFi network secured?
Their approach to the token distribution event emphasizes the importance of building and nurturing a strong and secure community of CoinFi Token member companies and developers contributing to the ecosystem. Thus they are taking steps to verify every participant. The required information collected during the registration process allows them to:
- Meet Know Your Customer, Anti Money Laundering, counter-terrorist-financing compliance needs; and
- Enable fair token distribution by allowing as many participants to join the sale as possible.
How do I buy CoinFi (COFI)?
The COFI token can be used for a wide range of purposes, like staking and governance.
COFI tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
Which Cryptocurrency Wallet Supports CoinFi (COFI)?
The PTPWallet platform supports many cryptocurrencies, with COFI soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.