Investing

ICO: Kryll – Automated Crypto Trading Platform

Kryll is a platform that aims to build the “most advanced trading tools and strategies, as well as the combined intelligence of the community in order to achieve the best returns in cryptocurrency markets.”

It’s important to remember that this analysis is purely an “investability” analysis, and will not delve into the product, how it will work on a technical level or how to use it. The ICO analysis is only to evaluate whether a company’s coin offering during a pre-sale will net a return in the short or long term and whether it is worth taking a position in.

I will only mention features and facts that I feel are relevant to the success of using the ICO to turn a profit.

For access to the Kryll whitepaper and information on the product they intend to build, click here.

To learn how to do your own ICO evaluation click here.

The Company, The Team

The website details a very large team. The main players seem to be:

  • Luca Benevolo – Founder CEO
  • Philippe Longère – CTO
  • Fabien Mabon – Back-End Expert
  • Clement Laforet – Scalability Expert

All of their LinkedIn profiles are available on the Kryll website and most of the team has a competent history.

My Thoughts

The CEO, CTO, and CMO are all members of a company called “Cryptense” and Kryll is one of the products. Cryptense seems to be a consulting firm, focused on blockchain and deep learning. These two aspects are absolutely great for Kryll, but I do worry about whether they will put all the time and effort into the platform if they have other paying customers. In all fairness, the whitepaper does note that Kryll is a Cryptense product, but there is no information on the size of the Cryptense team besides the 6 listed employees on LinkedIn.

The Whitepaper

Kryll’s main focus in the whitepaper is that there is an active community of traders who trade and exchange over USD $100 billion every day. They mention Telegram, Slack and Discord channels as a place for hobbyists to gather intel and discuss buy and sell points. Their platform aims to link informational sources to allow more people to profit.

  1. The Problem

Kryll points out that hedge funds and hobbyists all currently use the same platforms to trade in cryptocurrencies, but the resources allocated to professional traders vastly overshadow those of the everyday man. They state that “efficient trading requires resources like computational power to run intensive data models and crunch historical data trends crucial for assessing strategies risk-free. High-speed connections are needed to reach to exchanges around the world.” The company goes on to talk about the amount of time and energy it takes for one person to analyze the relevant data, and with the market going 24/7 as opposed to traditional markets, they point out the importance of being able to allocate time to managing a portfolio effectively.

My Thoughts

This is a very real problem, as an (amateur) trader, I sometimes feel like it is impossible for me to take in all of the data I need to in order to make sound decisions regarding my trades or even a potential buy-in. I have made spreadsheets, trackers and analytics tools of my own. Even with those to help, they are all in various locations and getting through condensed sets of data is still time-consuming.

  1. The Solution

Kryll believes that their platform is the solution to the problems of single investors and hobbyists by giving them access to their trading tools. Kryll coins the acronym “WYSIWYT” (What You See is What You Trade) which encompasses a simple block-and-flow interface for strategy building.

The company defines 5 main block families that are available for strategy building:

Once you have developed a strategy, Kryll intends on giving you access to 6 months’ worth of data to test your strategy. They will also offer a sandboxing option where the strategy is tested as if it were running live on the market.

My Thoughts

I certainly can see how easy it would be to sell this product to the public, after all, that is what we are looking at; can this product be adopted by the masses, therefore increasing the value of the tokens that are currently on offer to profit from a pre-sale. Even if you choose not to use their product, it’s important to look at the potential value of the token based on the platforms appeal to the public and its potential value as a token and a product.

If Kryll manages to build this platform as they imagine it, I believe that it will be an incredibly useful tool, and I feel like if the rest of my analysis goes well, I would be very interested in purchasing some tokens during their ICO period.

Kryll also promises a mobile application, which will give you access to a dashboard, push notifications in relation to your strategy.

The following exchanges will also be able to connect to Kryll initially: Bittrex, Poloniex, Bitfinex, Coinbase/Gdax, Cryptopia, YoBit.net, Binance, HitBTC, Bitstamp, and Kraken.

The Developers

The developers have experience in cryptocurrency with regards to blockchain technology, mining and deep learning, all good signs for a team who is developing this kind of product.

My Thoughts

The developers seem very competent based on their LinkedIn profiles and seem to have very credible references and a verifiable track record.

Roadmap

The roadmap is as follows:

My Thoughts

This roadmap is totally doable in my opinion. At the moment the “early adopters” token sale is in progress and on 30 March the tokens will be available for withdrawal. The company also promises to work with Cryptopia, KuCoin, HitBTC, and Bittrex to have the token listed.

The company is asking for a bit of an investment on faith though, as the early prototype demonstration is only expected during March, that being said, it’s actually a decent time-frame considering we are in February.

The closed (token sale investors only) alpha is expected in Summer 2018 (Northern Hemisphere) and the app release is expected in November with the Open Beta becoming available in December.

Social Media

The team has a Telegram channel, Twitter, LinkedIn, Facebook and Medium accounts.

 My Thoughts

The Telegram channel is much of the usual with a bit of spam and the regular type questions. I managed to speak with the CEO, which is, in my opinion, absolutely great! Far too often the company hires marketers or media managers who are simply not well enough versed to answer the questions I have.

The Twitter account is fine, it is mostly advertising for their upcoming token sale, with much of the same on LinkedIn and Facebook.

One thing that stood out to me was the fact that Binance had an issue with their systems, the community appealed to Kryll to extend the 30% bonus on the token sale by one day, and the company reacted quickly and extended it. It is important that the business engages with their supporters, and Kryll did just that.

Conclusion

All in all, I believe this to be a legitimate ICO and intend on investing some Ethereum into the token sale. If this summary has assisted you, I would encourage you to read my article on how to evaluate an ICO here and do the full research required to compliment my summary.

Here is my investability scorecard for Kryll, and its a pretty good one at that!(click to enlarge)

Buy the Kryll ICO Here (Ref Link)

Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer.

Disclaimer: The information presented by Tiaan is for informational purposes only. It should not be considered legal or financial advice. Tiaan is not a financial adviser. You should consult with a financial professional to determine what may be best for your individual needs.

Tiaan does not make any guarantees or other promises as to any results that may be obtained from using his content. No one should make any investment decision without first consulting his or her own financial adviser and conducting his or her own research and due diligence.

Please always only invest within your means and do so responsibly. If you have any questions feel free to contact him via the social media buttons below.

Tiaan Wolmarans
Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer. Disclaimer: The information presented by Tiaan is for informational purposes only. It should not be considered legal or financial advice. Tiaan is not a financial adviser. You should consult with a financial professional to determine what may be best for your individual needs. Tiaan does not make any guarantees or other promises as to any results that may be obtained from using his content. No one should make any investment decision without first consulting his or her own financial adviser and conducting his or her own research and due diligence. Please always only invest within your means and do so responsibly. If you have any questions feel free to contact him via the social media buttons below.