27 August 2021 • 4 min read
As Trality grows and our community expands, it’s important for us to keep you all informed about what’s happening. Our diverse community of Creators is the heart and soul of our company and without you—we would not have Trality.
That is why we decided to hold our first Ask Me Anything session about a topic which is highly relevant to you guys and the future of Trality. On the 18th of August, we held our first AMA on the official Trality Discord where we dived deep into the subject of the Trality Bot Marketplace and all the things that go along with it.
The Marketplace is a product separate to the Code Editor and Rule Builder. It is a place where Creators like can rent out their most awesome bots to newer users or those who are not interested in building their own bots. These users will be called Followers. Trality Creators will get a rental fee from this usage and therefore, the best bots will be able to generate an income. For that reason, the competition between top Creators will be fierce ensuring a consistently high quality source of bots.
Co-Founders Moritz Putzhammer and Christopher Helf answered any and all questions that you guys threw their way and today, I’d like to summarise the whole session and highlight the most important points. So let’s get started…
Moritz: So, we're currently figuring out the last details regarding the first iteration of the Marketplace. This means, the devs, product manager and designers will work together closely and most importantly tirelessly in Q4! Lets just say the months till the Marketplace can be counted down on one hand!
So for those of you who are eagerly awaiting the launch, there you go! 😎
Chris: We want to approach this with a monthly subscription model for Followers, at least in the foreseeable future. Later we will definitely have more personalised options that the Creator will be able to influence. As Moritz said in a previous answer—we're taking it step by step.
Moritz: One thing I really wanna emphasise here: ultimately Trality, and the Marketplace in particular, should be as "community-owned" as possible. This means that the pricing should be as fair as possible, to both Creators and Followers. I could imagine that in the long run, the monthly subscription might be very low and a variable aspect in pricing gains importance.
Chris: Definitely, fairness is a great point. It will also for sure stay a simple and understandable pricing model, it should really feel like a Spotify subscription rather than working out the actual fee structure with your bank manager.
Moritz: This will be an absolutely crucial feature in the Marketplace. I don't think the first iteration will include the fully-fledged backtesting option that our Creators already know and love but in the second version, parity is a must.
Chris: Definitely. As Moritz said, that's crucial to understand whether and how the bot would work for your own portfolio. The technical details we can't disclose yet however. 😉
Moritz: So: the Followers DO NOT want to invest in a black-box! That's the most important thing here. Therefore of course, some information about the bots' workings will need to be available.
Chris: In fact, quite a lot. We'll provide guidance and structure to this however, so we have standardized information about the strategies available to followers.
There will be two layers to this: one is always available to Followers, e.g. providing safety measures on top of bots, think stop loss protection. The other one will be parameters that the bot Creator can specify.
Chris: We're a bit limited as to what we are allowed to do here. We don't want Creators to fall under regulatory rules here, as they could influence the decision a Follower is taking with regards to which bot to choose. We're evaluating what we can and can't do here, obviously we understand the desire to do so - but in the initial version, this option will most likely not be available.
Moritz: We ultimately don't want to see a case where Creators could be classified as investment advisors…
Moritz: That's an interesting one and I honestly haven't thought about that but ultimately I suppose that's a market mechanism, right? If a creator really manages to build 5 of the best performing bots on the platform...what do you think Chris?
Chris: In general, we haven't planned on any limitations there - but as said before, we'll have curation and QA mechanisms in place that won't make it easy to be qualified for a Marketplace bot.
Chris: Well, we're taking it step by step and the first iteration will be simpler in order to develop it further according to what our community wants. But obviously we're expecting quite a number of users.
Moritz: To be realistic...the product will improve a lot, especially in the first few weeks so the more important goal for us here at Trality HQ is really to have a great user base by the end of the year.
Chris: That is definitely the goal, long-term. However there are a lot of obstacles in the way to achieve that, again regulatory wise. But we're making good progress on that front in any case.
Moritz: Let’s step back and look at the Trality vision: We will bring the power and potential of algorithmic trading to everyone who needs it. Regardless of whether they are advanced traders or beginners, every single person will be able to have bots automatically manage their investments — across asset classes and platforms. All in one place.
Therefore, I completely agree with this question that we need to reach that ‘all-in-one’ status.