Profile of ApechainProject in ApeCoin
Posts by ApechainProject
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AIP-556: ApeTrade Bot Proposal on the ApeChain
by ApechainProject - No Role
Posted on: Nov. 11, 2024, 7:11 p.m.
Content:
Chris.Admin:
Hi @ApechainProject,
The community feedback period for your proposal would be ending in roughly 24 hours.
If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.
A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.
Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?
We look forward to hearing from you.
Hi @ApechainProject,
Thanks for the update! We’re good to go and ready to proceed to the next phase.
Looking forward to the next steps.
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Replies: 0
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AIP-556: ApeTrade Bot Proposal on the ApeChain
by ApechainProject - No Role
Posted on: Nov. 5, 2024, 7 p.m.
Content: Apetrade logo 1920 × 1586 38 . 4 KB
PROPOSAL NAME:
ApeTrade Bot Proposal on the ApeChain
TEAM DESCRIPTION:
We are the ApeTrade Team, composed of experienced developers, blockchain experts, and AI specialists. Our team has a proven track record in building cutting-edge crypto trading bots, integrating AI-driven trading systems, and ensuring cross-chain compatibility.
Core Team Members:
Daniel (Lead Developer):
With 6 years of experience in IT and blockchain development, Daniel leads the technical development of the project and oversees all blockchain integrations.
Frank (CTO):
Holding a master’s degree in Software Engineering, Frank is responsible for overseeing the technical direction of the project and ensuring the scalability and security of our platform.
Adrian (Project Manager):
Adrian brings extensive experience managing DeFi and crypto projects, ensuring smooth execution and cross-platform collaboration. He specializes in coordinating between technical and non-technical teams to keep the project on track.
Telegram: @ADRIAN 00780
Denzel (Head of Design):
With 7 years of experience in web design and 3 D art, Denzel is responsible for the user interface (UI) and user experience (UX) of the platform. His creative vision ensures a seamless and intuitive design, enhancing user engagement and accessibility.
All team members are prepared to undergo KYC verification and sign a grant agreement before the release of any funds.
PROPOSAL DESCRIPTION:
We propose developing ApeTrade Bot, a decentralized trading bot that integrates with the ApeChain ecosystem. The bot will be multi-chain compatible, supporting Ethereum, Arbitrum, Solana, and ApeChain, and will leverage advanced AI technology to enhance trading strategies for users. We notice that retail users are still holding back to enter web 3 space because of its complexity. By building the ApeBot and a web UI, we’re enabling users to become a part of ApeChain’s ecosystem and crypto with the slightest ease.
Key Features:
Multi-chain compatibility for cross-chain asset management.
AI-powered trading strategies, including real-time arbitrage detection and emotion-aware trading.
Core trading functionalities like limit orders, instant swaps, and portfolio management.
Income Model:
The ApeTrade bot will have two sources of income:
Fees of the transactions.
Subscription fees for using the pro version, including the (more sophisticated) AI features.
For the above mentioned revenue streams, our intentions is to give ApeCoin DAO the following percentages:
20 % of all the fees collected through trading
50 % of all the fees received from the subscriptions
These fees will be used to buyback ApeCoin and the tokens will be burned. We believe it will create a deflationary model in the circulating supply as well relieving selling pressure.
These fees that are given back to the ApeCoin Dao are lifetime long and thus has no expiration.
At this moment, we are looking at the market’s fees for using a bot. This is ranging between 0 . 8 % and 1 % of one transaction. To be competitive, we will be on the lower end of this spectrum. But we are also looking at options such as staking-as-a-fee-services and others to bring back value to the chain.
The bot will focus on scalability, ensuring it adapts to market expansion and the evolving needs of ApeChain users. Security is paramount, and we will employ top-tier security audits and cutting-edge AI-driven risk management.
Goals:
Building the first AI trading bot on ApeChain to attract users to the platform
Lower the bar for retail users to enter Web 3 and ApeChain’s Ecosystem
BENEFIT TO APECOIN ECOSYSTEM:
The ApeTrade Bot will deliver significant value to the ApeCoin ecosystem by:
Revenue returns: ApeTrade Bot would provide the ApeCoin DAO treasury with 20 % of all the fees collected through trading and 50 % of all the fees received from the subscriptions.
Increasing trading activity: With AI-enhanced trading, more users will engage in trading, driving volume onto the ApeChain network.
Boosting cross-chain liquidity: By facilitating cross-chain asset transfers, the bot will improve liquidity and draw new users to ApeCoin.
Enhancing user retention and growth: With a user-friendly interface and features like referral systems, we anticipate stronger community engagement and growth.
We have seen many people who want to enter the decentralized space but face barriers like security concerns or unfriendly user experiences. ApeTrade will solve these issues by offering a safe and user-friendly platform where even beginners can start trading confidently. The AI-powered system will guide new users and help them avoid common mistakes, creating a welcoming space for all levels of traders.
Our goal is to reach 10 . 000 users within its first month of launch and 100 . 000 users within the quarter. The details are shared and explained in the marketing plan (TBA).
DEFINITIONS:
Limit Orders: Users can set specific prices for buying or selling assets. Trades are executed automatically when the set price is reached.
Cross-Chain Functionality: Enables asset transfers between different blockchains (Ethereum, Solana, ApeChain, etc.).
AI Trading Features: Leveraging AI for enhanced trading strategies, such as sentiment analysis, real-time arbitrage, and emotion-based trading.
STEPS TO IMPLEMENT:
Initial Planning & Design:
Define the scope of the trading bot, AI features, and cross-chain functionalities.
Design user interface (UI) and user experience (UX), ensuring simplicity and ease of use.
Denzel will lead this phase by designing the interface to appeal to both novice and professional traders.
Core Bot Development:
Build the core functionalities of the trading bot, including basic features like limit orders, instant swaps, and portfolio management.
Ensure multi-chain compatibility with Ethereum, Solana, Arbitrum, and ApeChain.
Backend development will focus on ensuring high transaction speeds and reliability for all users.
Completion of core trading bot with essential trading features and multi-chain support.
Budget: $ 35 , 000 for development, personnel and infrastructure.
Timeframe: 2 weeks
AI Feature Training & Integration:
Train AI models for key trading strategies, including real-time arbitrage detection, emotion-aware trading, and predictive modeling for market trends.
Test and refine AI features through multiple simulations and live user sessions.
Integrate AI with the bot to enable automated trading strategies that adapt to changing market conditions.
Beta Testing Phase:
Conduct beta testing with selected users from the ApeChain community to gather feedback and identify any bugs or performance issues. When we nearing the Beta version of the ApeTrade Bot, we will set up a test group among our community through announcements. This private group will be informed about the testing and we will discuss the detail in the private by that time.
Perform stress tests on both the bot and AI functionalities to ensure scalability and robustness.
Successful AI integration with live user feedback and initial optimizations. Completion of beta testing with key issues resolved and optimizations applied.
Budget: $ 55 , 000 for AI training, testing, and scaling.
Timeframe: 5 weeks
Security Audits:
Third-party security audits will be conducted to identify potential vulnerabilities in the system.
Fixes and patches will be applied to ensure the security of both user funds and trading data.
Completion of security audits with no vulnerabilities.
Budget: $ 10 , 000 for auditing services.
Timeframe: N/A, dependent of external parties
After successful development phase > start banana bill (part 2 of raise) for marketing and launch costs
REPORTING EXPECTATIONS:
We will provide monthly progress updates to the ApeCoin community, which will include:
Development milestones and project updates.
User feedback and performance data during testing phases.
Key metrics and updates after the official launch.
Reports will be shared via the ApeCoin forum and our Telegram channels. Once the launch of Apetrade Bot is live, the reporting to the community will stop and be continued in our Telegram group chat and announcements channel.
OVERALL COST:
Total amount requested from the ApeCoin Ecosystem Fund = $ 100 , 000
Budget Breakdown:
Development Phase: $ 35 , 000
Design UI+UX: $ 5 , 000
Setting up and running AWS: $ 8 , 000
Hiring 2 extra developers for 8 weeks: $ 20 , 000
Paying licenses and such: $ 2 , 000
AI Development, Testing & Integration: $ 55 , 000
Hire external parties to set up models for AI training: $ 20 , 000
Hire 1 specialist developer to assist on the AI integration of the models into the Apetrade Bot: $ 10 , 000
Payout core team members: $ 20 , 000
Running AWS: $ 5 , 000
Security Audits: $ 10 , 000
Auditing by 2 external parties: $ 10 , 000
We would prefer to have our funding provided in one lump-sum payout.
This proposal also requests support from the APE Foundation to facilitate community outreach via discussion platforms, the official website, and Snapshot to maximize the proposal’s visibility and engagement with the ApeCoin community.
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