2023-5-25 01:20 |
TradeGDT, an AI-powered trading tool by TraderDAO, is making waves, hitting 10% of Bybit Derivatives Trading volume in 4 hours.
TradeGDT (Trading Generated Data Transformer) is an improved quantitative trading bot for extensive data created to help traders easily navigate the crypto market. The tool integrates a ChatGPT plug-in to enable smarter and more adaptable user communication.
The team at TraderDAO came together to create a solution that combines human productivity and bot functionalities to implement AI in crypto trading. Data from the TraderDAO ecosystem reportedly power this tool.
Using TradeGDT, users can execute orders that are well thought out. TradeGDT’s mission is to help users make better decisions and take less risk while working more efficiently. A trader can better manage their portfolios and execute precise and faster trades. Through AI, this tool analyzes and studies a user’s data and dynamic trade model to identify the profit model that best suits the user. Once this is done, TradeGDT formulates a set of trading models for automation execution. Notably, the result is an AI smart trading assistant, a better version of the trader.
The last year has seen the TraderDAO team work tirelessly to accelerate the development of TradeGDT. The team recently launched the Minimal Viable Product (MVP) to the market in partnership with Bybit. The launch hit the market with a bang recording more than 10% ($330 million) Bybit 24-hour Trading Volume in just 4 hours.
According to the TraderDAO team, the high trading volume was inspired by $POT, a trading fee-sharing toke that acts as the AI data trading incentive for the DAO. Traders earn $POT by engaging in trading activities within the DAO ecosystem. Note each $POT minted has a cost that must be covered through a refund by trading fees. Thus each $POT is issued with a 1:1 real yield asset backing. In the long run, the $POT treasury will expand in value as more users continue interacting with the platform to put in new transactions. In addition, data from these transactions will be used to continue fueling the development of TradeGDT. TraderDAO has a second token, $HOT, that serves as the platform’s governance token. $HOT also serves as the transaction token, helping further push TraderDAO’s trading revolution.
In the coming days, TraderDAO’s TradeGDT could be the start of the AI Finance (AIFI) trend, a much broader and limitless concept compared to GameFi and DeFi.
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