Crypto Trading Bot Taylor Announces ICObr>
Trading assistant service and mobile app Taylor is planning an initial coin offering (ICO) for its utility token TAY. The ICO will be held in February to support and fund its initial operations.
Based in Estonia, Taylor is a smart cryptocurrency trading assistant service. The service consists of a signaling tool for trading opportunities associated with a mobile application and a trading operations automation bot.
“The cryptocurrency trading market has been hugely profitable compared to other investment vehicles available in the traditional financial markets,” the company said. “It draws the attention of average users who, like any other investor, wish to transform their money into profitable assets. However, these users lack knowledge of how the market works, stumble into websites and services with difficult-to-use interfaces, and hesitate when faced with the inability to follow such a wide range of markets.”
The goal of the platform is to solve some of the problems encountered by both inexperienced and experienced users. The company said they are attempting to make the process of buying and selling cryptocurrencies more user-friendly and profitable.
The platform consists of a market monitor bot, a mobile application, and a trading operations automation bot. The market monitor bot continually monitors several markets, or currency pairs, in the exchanges supported by the service. Initially, the platform will support Bittrex and Poloniex. When a trading opportunity is identified, the market monitor bot notifies users through the Taylor mobile application.
Once notified, users will have the opportunity, through the application interface, to analyze the signal/opportunity (price, quality, volume, charts, etc.) and decide if they wish to enter into that trade. Upon deciding to trade, the user will only have to choose the amount to be invested and the desired profit target. Once the user has chosen the desired profit, the trading automation bot performs its action. The trading automation bot will continuously monitor the price of the asset.
The company said the service will be subscription-based. Users will subscribe to a monthly service to receive trading signals on their mobile phones and have access to the automated trading interface. Users will be able to pay for the service using TAY tokens and other cryptocurrencies, such as bitcoin (BTC) and ether (ETH). Users who pay for the service using TAY tokens may have a discount on their subscription fee and get access to premium features such as notification priority, higher trading limits.
65% of 10,000,000 TAY tokens will be sold at a base price of 0.0007 ETH ($0.725872 USD). The company set a 500 ETH ($518,000 USD) soft cap in the public sale phase. If the minimum is not reached, all public sale ETH raised will be refunded. The hard cap is 6,446.43140000 ETH ($6.6 million USD).