ICYMI, Update 1: https://medium.com/@jimmydeal/cossbot-development-update-1-76e64e5d92d2

ICYMI, Update 2: https://medium.com/@jimmydeal/cossbot-development-update-2-17dd351de94

TL;DR: Requirements/Sign Ups for Alpha Testing of COSSbot are Listed Below

Automated Trading- Final Stretch

The moment you all have been waiting for is finally here, automated trading is in the final few days of development/testing thanks to Spielley’s work with our team on COSSbot’s trading strategy. The core team has been testing the bot’s automated strategies and the bot is finally almost ready to enter the semi-public Alpha testing phases.

Outline of the strategy employed by COSSbot as simply as we can: The bot employs a simple strategy that requires specific input from the user. Specifically, the bot requires a percentage that the user wishes to take profit at as well as a percentage that the user wishes to perform another buy and decrease the cost-average of the asset held by the bot. The bot will then make an initial purchase and attempt to either sell that purchase at a profit once the value of the asset has increased to meet the user’s take profit percent or make a second purchase if the value of the asset drops and reaches the users percent to lower cost-average of holdings. The bot will then sell if the asset rises in value to reach the user’s specified take profit percentage above the cost-average of the user’s holdings. In this regard, the bot will cost average down and then HODL if the market becomes extremely bearish until the user can take profit or decides to cut losses.

Essentially, the bot acts as a well disciplined extension of the user, taking profit when the market swings up and cost-averaging down/hodling until the bot can take profit. We believe that a strategy such as this is best in that it utilizes the same basic trading principles employed by the user in manual trading 24/7, but is able to remove greed/FOMO from the equation in order to recognize profit. The user employs no greater risk than if they were to employ these basic strategies themselves and the bot will not recognize a loss unless the user specifically decides to stop HODLing and cut-losses just as they would if the user decided to sell an asset because they no longer believe that the asset will increase in value in the long term.

Alpha Testing

After countless hours of work from the members of the COSSbot team, COSSbot is finally nearing completion. As such, we will outline our plans for the semi-public Alpha testing of COSSbot in order to prepare for the testing phase prior to the ultimately free public release of the bot. We are handling registrations for Alpha testing at this point so that the registration process, adding members to the Alpha testing Discord, and setup of Alpha testing phase does not delay the ultimate public release any more than absolutely necessary.

The development of the bot has been almost entirely unfunded to this point, albeit a few generous donations from members of the Cossbot Discord community; to this end, we will be offering a limited number of Alpha testing spots to donors that support the project/work done by the dev team to this point. We will be soft-capping the Alpha Testing at 50 members (actual number of Alpha Testers will depend on demand for spots).

Alpha Testers:

We have deployed an ETH Multisig Wallet (address: 0x39e0a28c888978f15177f5c7d12e56a899e41293 ), which myself, HeavyCream, and Thaodehx (neither directly involved in the coding of COSSbot) are owners of. Any withdrawal to the dev team from the contract address requires 2/3 owner confirmations, so rest assured that any donated funds will be safe and only utilized as intended.

IF YOU HAVE PREVIOUSLY MADE A DONATION, PLEASE FILL OUT THE FORM/REACH OUT TO US TO ENSURE THAT YOU CAN PARTICIPATE IN THE ALPHA TESTING.

Because the team has dedicated countless hours, we will be asking that Alpha testers make a minimum donation of .1 ETH. This donation should be sent to the multisig address in the preceding paragraph (address: 0x39e0a28c888978f15177f5c7d12e56a899e41293 ). You will need to make the donation and submit the following form so that we can collect the needed information to verify the donation and add you to the private Discord Channel for Alpha testers. The form requires:

Email Address (in case we need to contact you and cannot via Discord) Discord Username (to add Alpha Testers to the COSSbot Alpha testing Discord Channel) Github Username (in case we are unable to get you access to the files via other methods) Tx Hash of your ETH donation (so that we can verify the donation to the address)

The form can be found here: https://goo.gl/forms/zlDttoBAd8jRVO403

Additionally, COSSbot community member and Discord user FLwrestler11#3070 has been generous enough to offer all Alpha testing donors a 25% discount to his online crypto merchandise store in order to further incentivize donors/supporters of the COSSbot project. His store offers a wide array of awesome crypto apparel and accessories including COSS and COSSbot merchandise. The COSSbot team will be sending a 25% off discount code to all individuals who sign up for Alpha testing. Please check it out at the link below:

https://www.decentralgear.com/

We will contact and add participants to the Alpha testing Discord in the next few days as registration for the Alpha wraps up and the team finishes our internal testing. We aim to get Alpha testers setup to run the bot by this Friday (6/29), but will have users setup by this Sunday (7/1) at the latest.

Donation Fund Distribution

We will be distributing all donated funds to the developers that have worked on COSSbot accordingly with the efforts/time devoted to the COSSbot project. AGAIN, the funds are secured in a multisig wallet that requires 2/3 signatures to withdraw funds. I, CryptoDeal, am one of the signatories on the wallet, but the other two signatories are /r/COSSbot moderators and not actively involved in the coding/development of COSSbot. So, rest assured, your funds are safe and will be distributed after the successful completion/public release of COSSbot.

If you do not wish to participate in Alpha testing, but want to donate to support our development work, please feel free to donate any amount to the multisig address.

As a final note, we on the COSSbot team know that these bearish times can be rough, but stay strong and continue to acossmulate. We should see volume and interest in the COSS exchange ramp up in the following weeks as a wider access to bots on COSS can hopefully help add a much needed sustained volume boost to the exchange & COSS 2.0 is slowly released.