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

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

ICYMI, Alpha Announcement: https://medium.com/@jimmydeal/cossbot-alpha-testing-announcement-489ed702092e

TL;DR- Alpha Testers have been added to the Discord and testing instructions have been posted, but we still need more testers to ensure that COSSbot has been sufficiently tested prior to release.

Automated Trading- Working & Ready for Alpha Testers

Picture showing the functionality of automated trading.

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- Commenced

We have started adding users that have already signed up to the Alpha Testing group (fewer than we had anticipated/hoped). Alpha Testing has begun as the team has released installation instructions to those that have registered. The GUI will be released to Alpha testers shortly as soon as our GUI devs have finished wrapping the automated trading portion of the bot.

Alpha Testing Registration- Ongoing

The COSSbot Alpha Testing Soft-Cap has not been reached, which means that there is still time to register to participate in the Alpha Testing of COSSbot

Because Alpha Testing is needed to expose any errors/bugs that might be undiscovered in the code, we will remain in Alpha Testing until the team feels that the code has been sufficiently vetted/tested. At a minimum, the team expects that we will remain in Alpha Testing for a month in order to ensure the code has been thoroughly tested. Given that we have not received many Alpha Testing applicants yet, this period is likely to be longer than a month simply because more Alpha Testers means more instances of the bot running and a higher likelihood that bugs/errors will be exposed quickly. We are really hoping to reach the soft-cap of 50 testers in order to expedite the testing process, but this really depends on the support of the community for the COSSbot project.

Please register or donate if you see the potential of the COSSbot project, would like to enjoy early access to our botting tools, wish to see wider access of botting tools help improve volume on COSS, and/or want to contribute to the COSS’s largest community Bot effort.

The development of the bot has been almost entirely unfunded to this point, albeit a few generous donations/Alpha Testing Registrants; to this end, we are still offering a limited number of Alpha testing spots to donors that support the project/work done by the dev team to this point. There are still spots available that we would like to see filled in order to ensure that sufficient testing has been done, but we will be soft-capping the Alpha Testing at 50 members.

All funds are sent to a Multisig address to ensure that the funds are equally allocated to all of the developers that have contributed to the COSSbot Project and ensure that the developers have met expectations of the project prior to the distribution of funds.

Registration Instructions

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 have been adding Alpha Testers to the Discord as registrations come in and will continue doing so until the soft-cap is reached.