Mirocana ICO - An AI Trading Application

in cryptocurrency •  8 days ago

Mirocana ICO



*Disclaimer: This is a sponsored post paid for by the Mirocana team. As such, opinions will be kept out of the post (we would never intentionally mislead by providing an untrue review) and the aim of this post will be to provide a succinct summary of the project so you can decide if this is a good investment for you.*

What Is Mirocana?


In the words of the team:

"Mirocana is a complex, self-reinforcing system based on deep-learning neural nets and other modern machine learning models that predicts stock, currency and crypto-currency markets. We collect, store, process and analyze huge volumes of financial data. The entire system is designed to constantly increase the accuracy of predictions."

In our words:

Mirocana is an automated trading application based on Artificial Intelligence which will attempt to improve over time as it learns from its mistakes.

Before we begin with the main content explaining how Mirocana works and why investors may wish to invest, I want to highlight for everyone that this review of the project isn't going to technical-based - if you would like to see a technical summary of their plans, you can simply check out their whitepaper.

Instead, this article is going to be a simple explanation of the platform which all investors can understand!

Why Would I Invest?


We're discussing an ICO so the most important question you're going to be asking will be:

"Why should I invest?"

The answer to this is pretty simple; if you believe that Mirocana will successfully be able to build an AI which is capable of producing profits via trading, you're going to make a good return on investment (ROI) by contributing to the project. If you don't believe this to be the case, this project obviously isn't for you (duh!).

How Does Mirocana Work?


The process outlined below will begin in a simulation environment during testing and then will be used for real in order to attempt to generate profits.

The process all begins based on the predictive models created by the team. The Mirocana AI will use these models to create many predictions of the short-term future prices of whichever pair is being traded.

These predictions are essentially added up (I've simplified this of course) to create a cumulative prediction value which is used form a strategy. If the resulting prediction value is much higher than the current value, Mirocana's strategy (more on strategy in a bit) will dictate that the system will probably place a buy order as it appears more likely that the price will rise than anything else.

If the AI gives a prediction which is below the current price, it will produce a sell order. If the prediction value is very close to the current value, the AI will recognise that it is difficult to predict which direction the market is more likely to move so it will not place a buy or sell order.

Essentially, the ability of Mirocana's system to make profits is derived from 2 factors:

  1. The efficacy of the predictive models from which Mirocana bases its strategies
  2. The success of the strategies

Therefore, it's important to understand how the Mirocana team will attempt to improve on these two elements.

Mirocana's 4 Methods of Improving


1. Alpha
2. Sigma
3. Target

Alpha (Strategy Improvement)

Alpha is a web interface where traders can create, optimize and evaluate their own STRATEGIES based on data from Mirocana's sources. The effectiveness of the strategy will be valued by Mirocana and the trader will be paid in MIRO tokens in exchange.

Essentially, the trader has provided a strategy which Mirocana's AI can implement in the future i.e. they've helped to improve the strategy of the AI. The better the strategy is, the more the trader will receive for their efforts.

Sigma (Model Improvement)

Sigma is another web interface but this is instead intended to improve the predictive model from which Mirocana bases it strategies.

The aim is for data scientists or mathematicians to begin adding their own predictive models on the web interface. Regular tournaments will be held and the winner will be paid in MIRO tokens, thus creating incentive to produce the best model.

Target

Target is an Android and iOS application whereby anyone can leave their future price predictions on Cryptos and get paid in MIRO tokens based on their accuracy.

Self-Learning

On top of these methods of improvement, the intention is for the Mirocana AI to be self-learning i.e. it can recognise patterns in the price data and make accurate predictions. Each time a decision is made, rightly or wrongly, the Mirocana system stores this information and utilises it to improve the following time.

Now that we've covered how the Mirocana AI will aim to improve upon its performance with each trade, let's now talk about the actual trading products offered by the system.

3 Investment Analysis Products


The Mirocana AI will be trading in 3 locations:

  1. Stock Market
  2. Fiat (Regular) Currency Market
  3. Crypto-currency Market

1. Stock Market


The Mirocana AI will be used to predict over 400 securities listed on the NYSE and NASDAQ stock exchanges.

How Do I Access This Trading?

In order to be able to utilise Mirocana's AI for trading stocks, you need tokens, a lot of tokens. Specifically, you need to be one of the Top 200 token holders. You don't actually need to pay in tokens but you do have to hold them in order to access this area of the AI.

What Are The Fees?

On months where you make profits, Mirocana will charge a 25% fee from the profits made. On months you lose money, Mirocana will refund 25% of your losses. However, these fees will be waived for the first 8 months of operation.

2. Fiat (Regular) Currency Market


Mirocana's AI will trade 125 regular currency pairs in order to attempt to make profits. This product is the most advanced and I believe has already been built and will therefore be accessible very soon after the ICO.

How Do I Access This Trading?

In order to be able to utilise Mirocana's AI for trading currency pairs, you need at least 10,000 MIRO tokens bought during the token sale or 30,000 MIRO Tokens bought later at an exchange.

What Are The Fees?

On months where you make profits, Mirocana will charge a 25% fee from the profits made. On months you lose money, Mirocana will refund 25% of your losses. However, these fees will be waived for the first 8 months of operation.

3. Crypto-Currency Market


Mirocana's AI predicts 90 Cryptocurrencies as traded on Poloniex exchange.

How Do I Access This Trading?

In order to be able to utilise Mirocana's AI for trading Cryptocurrency pairs, requires 5,000 MIRO tokens bought during the token sale or 15,000 MIRO tokens bought later at an exchange.

What Are The Fees?

On months where you make profits, Mirocana will charge a 25% fee from the profits made. On months you lose money, Mirocana will refund 25% of your losses. However, these fees will be waived for the first 8 months of operation.

What Is The Token Type?


Even though it should be clear from reading the section above, I know many people skim read articles and just want to quickly find what the token type is which is why I've included this:

The token is an access token meaning that it's necessary in order to be able to make use of Mirocana's AI. Specific products will require a specific number of these access tokens (you can find the numbers in the section above).

Expected Returns


You can set your expected chosen annual return between 5% and 150%. Mirocana's system will then tell you the associated risk, profit factor, Sharpe ratio and other metrics commonly used to determine the risk adjusted return results of the trading systems

Competitive Advantages


For this section, we simply don't have enough technical knowledge of how AI trading systems operate to adequately create an analysis.

As such, we've simply copied in the top 3 competitive advantages that Mirocana believe they have over their competitors ( for the rest of the list, you can check out their whitepaper - links at the bottom).

We can't promise that their points are correct so we encourage you to carry out your own research on these points.

1. Flexible Codebase

"We are a team of engineers and data scientists. And we solve a problem of predicting the markets as a data science problem. The majority of traditional trading firms use third-party software to write and backtest their strategies, therefore they are limited by that software. We wrote everything from scratch."

2. Analysing Human Behaviour

"Some of our strategies are based on the activity of human traders, analysts and hedgefund managers. Our system learns strong and weak sides of these traders based on their past performance and is able to predict their reaction on certain market events. By analysing the reaction of a small fraction of traders, our system is able to extrapolate this
reaction for the rest of them. "

3. High Scalability

"To constantly improve accuracy of our system’s predictions we must add new data sources, new strategies and new simulations. We do that by our own but also we develop three products for crowd-sourced learning that will attract smart people from all over theworld to help us."

Token Sale Details


  • Opening Date - The ICO is open right now. Currently open
  • Closing Date - Ends December 19th 12:00 GMT
  • Token Price - 1 MIRO Token = 0.001 ETH
  • Hard Cap - 60,000 ETH
  • Current amount raised - 2,392 ETH
  • How To Invest - Click this link and follow the instructions

How Will Tokens Be Distributed?


  • 60% - Token Sale
  • 24.75% - Held by company for Alpha, Sigma, Target programs
  • 10% - Held in storage to make payouts in Mirocana Miner product
  • 5% - Reserved for advisors
  • 0.25% - Bounty Program

How Will ICO Proceeds Be Spent?


  • 20% - Hiring developers to create Mirocana Alpha, Sigma and Target Products
  • 15% - Legal, Marketing
  • 15% - Expanding the the team of algo-traders who create strategis
  • 15% - Expanding the team of data scientists and mathematicians who create models
  • 10% - Hiring new developers and blockchain experts for the purpose of creating Mirocana Miner products
  • 10% - Renting new serves
  • 5% - Expanding the team of managers

That's the end of the article, guys. We hope you've enjoyed reading it!

Please remember that this is a sponsored article and you should never invest without first doing your own research!!

Thanks

Tom

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interesting, will check this out

This post has received a 13.97 % upvote from @booster thanks to: @heavey.

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