Velox: The Algorithmic Trading Bot
Velox is a fast-paced, user friendly automated trading bot for the Uniswap and Sushiswap decentralized exchanges. Utilizing foundational “if-then” commands, this bot executes buy, sell, and cost-minimizing trades more effectively than any other public trading software. The system features a state-of-the-art execution sequence providing Velox with over 99% accuracy on all previous-block trades without requiring any 3rd party software to be installed, no deposits into a contract, and no need for a Velox-token.
Within its current iteration, Velox will provide you with professional level swap efficiency on an intuitive user interface. The program offers three basic trading commands for all high-volume ERC-20 based tokens:
1. Buy or Sell when a tokens price hits a user-specified price
2. Buy or Sell when a tokens price rises by a user-specified percentage
3. Buy or Sell when a tokens price decreases by a user-specified percentage over a given time period.
The initial release of Velox will limit this third functionality to the “last block” as the reference point.
Another feature primed for integration with Velox after its launch is the Dynamic Transaction Threshold. This dynamically adjusts the amount of tokens bought and sold above or below a certain, user-defined price threshold. For example, you may program Velox to sell tokens when the price goes above $1 and only sell enough to bring it down to that $1 dollar limit. It would then wait for an increase above that price to again sell down to that threshold. This will continue until the total amount of the users tokens committed to the strategy are sold.
Another powerful feature of the Velox platform is that it will dynamically measure the required minimum slippage and gas fees to execute transactions quickly and efficiently. This benefits you by keeping transaction related costs as low as feasibly possible. Allowing Velox to calculate your transaction costs frees more capital in the aggregate for trade executions as well as providing more control over profit margins. Velox will establish a maximum gas limit based on existing gas prices or give you the option of manually setting a maximum gas limit.
The non-custodial platform simply pairs with a MetaMask wallet and executes swaps on the ERC20 coins that you choose to trade. The platform will also include other wallet integrations which are currently in testing. In the event of a failed trade, the system will notify you of the error prior to swapping your tokens and inform you of what parameters need to change. It is not necessary to download any form of software to utilize Velox and will feel the same as bot trading on a centralized exchange. The system will never ask for you private keys giving you assurance that your high-efficiency trades are as secure as they are straightforward.
The industry defining feature for Velox is that it requires absolutely no token purchasing, holding, or staking. Velox is an entirely token free system which promises to deliver rapid, effective transactions without any type of coin speculation.
Velox will be available for use in January of 2021 at Velox.Global. While the software will initially launch for Uniswap and Sushiswap, Velox will expand to include more DEXs as it grows. The industry leading token analytics platform, DEXTools, has agreed to an integration deal concurrent with the launch of Velox. All premium and standard tier DEXT holders as well as subscribers will receive a 25% discount on Velox transaction fees when using Velox on their platform.
A comprehensive, two week announcement schedule will be released after the New Year to keep all future Velox users up-to-date on the newest platform news.