Symbol – SGN
Whitepaper – Link
When – February 26 2018
Soft Cap – 2 Million USD
Hard Cap – 18 Million USD
Fully Diluted Market Cap At ICO – 37 Million USD
Exchange Rate: Variable based on ETH
Signals Network is the latest project in data-driven trading tools built for both new and experienced traders. Signals combines many of the features of both blockchain and traditional technologies in order to create a fairly unique offering, that traders will be able to leverage to increase returns or otherwise handle trading. Data driven analysis and algorithmic trading is something that has taken over traditional stock markets, and the advantages of doing so are quite obvious. An algorithm removes all emotion out of trading, they don’t need to take breaks, and can easily outpace a human in terms of reaction to market movements.
As a crypto trader myself, bot trading and algorithmic strategies have largely been closed off to the majority of retail players, particularly due to the newness of crypto on the whole. Signals looks to change that by creating a platform where traders will be able to use these algorithms and data backed decisions to either enhance or completely replace their trading routine. Currently, we have relatively primitive tools at our disposal, for example only signal services or rudimentary bots. There is a great room for expansion here, and Signals is positioning themselves to be one of the first to do so.
Signals will also feature something called the Signals Strategy Builder – this is essentially a simplistic drag and drop interface where users will be able to combine strategies, indicators, and signals to create the optimal bot driven portfolio and trading plan. This is an interesting feature and something that lots of traders would jump on:
The Signals platform works this very same way in that we have several marketplaces, where data, indicators and strategy inputs can be chosen and then assembled into an automated trading strategy using the Signals Strategy Builder. The whole process can be completed using our visual building tool or in code, for those who know Python. We’re designing the whole thing so anyone with a trading idea can design, make, backtest and deploy it in no time at all.
Finally, Signals is hooking up to a few other blockchain projects and collaborating with them to further improve their own services. Signals will be partnering with Stox to provide prediction market and large amounts of human input as an additional datapoint, while also partnering with iExec to simulate their trading strategies and plans over a large amount of sample sizes.
Signals has very good token sale terms. They held a very small private presale where they raised 500’000 USD at a 30% bonus – certainly a great bonus for presale purchasers, but not an amount that has a large disparity with crowdsale buyers. The low total cap of 18.5 Million USD is also appreciated, in addition to half of the actual SGN tokens being distributed to buyers during the ICO. The generosity is appreciated here, and further increases my confidence in Signals.
A second thing that is positive for Signals is their flexibility – I’ve recently done a review for the ongoing SmartTaylor sale, and while I am also bullish on that project, Signals provides a much more robust solution with all of their integrations, strategy builder, and user customization options. This is a field that I am generally very positive on, and I appreciate all of the upcoming projects that are looking to compete in this space.
One of the negatives for Signals is their relatively weak team. I say relatively due to the fact that their team is by no means one you can discount easily, but it is definitely weaker than many of the world class groups we’re becoming used to in blockchain projects. There is no real power player, which means Signals is going to be more of a low key project than an extremely hyped one right out of the gate. Their Telegram does have 15’000 members though, so take that as you will.
I like Signals. It has a great idea, plenty of users (myself included) who would be interested in toying around with their app, an alpha that serves as a decent proof of concept, and conservative token sale terms. This certainly isn’t going to be a moonshot, but the team and what they’re building here is promising enough that it deserves a second look, especially if you’re a short term trader, as I expect this will have some great appreciation out of the gate.
Investment Grade: 85%
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