Galactic Bot is a trade bot for the Stellar Universal Marketplace and available in two flavours:
(1) As open source: to run on your own servers
(2) As a service: let us manage your bots
What does our project enable you to do?
We believe Stellar is the perfect platform to build and run a trade bot on. First of all many exchanges have a percentage based fees per transaction. (Coinbase.com, Binance.com etc) The transactions costs of Stellar on the other hand are flat fee and neglectable (0.01$ buys you +/- 8300 transactions June 2019) Second, compared to other blockchain platforms, Stellar settlements are one of the fastest and usually settle within two to five seconds. Third, we believe Stellar will be the Universal Marketplace where, besides cryptocurrency and the different fiat-pegged stable coins, in due time all kind of tokenized goods will be traded. (Oil, gold, emission rights, real estate, art, wool etc.) And fourth, Stellar is trying to be fair and inclusive. Everyone can connect to the Stellar Universal Marketplace, also known as the SDEX (Stellar Decentralized Exchange), and start trading. And everything in the spirit of open source technology! What’s not to love?
We have developed Galacticbot.com in the same spirit. Our goal is to build an open source trade bot library that can be run on the Stellar network. A library that we can work and improve on as a community.
But not everyone has the technical skills to setup and host the bot themselves. That‘s where GalacticBot.com comes in; for a small monthly fee (not yet determined -- and in the future of course payable in XLM) you can get your own bot up and running in minutes and tweak your bot settings in an easy-to-use settings window. You can even name your bot and let it compete in the leaderboards!
Why is the project valuable for Stellar?
Three important reasons:
All the current SDEX entry points (Stellerterm.com, StellarX.com, Scopuly.com etc.) don’t have automated trading. They rely on humans to manually press a buy or sell button. GalacticBot is the first automated browser-based trading tool on Stellar. Unless you are professional day trader glued to the screen, you can’t expect ordinary people to monitor a graph all day to watch for 2% gain and then press sell.
Liquidity on the Stellar Universal Marketplace is currently very low; even the popular trade pairs (XLM / Smartlands / Mobius) only see a handful of trades per hour. For Stellar to become popular, we need a lot more action. Because bots are online 24/7, this means continues action. Also the more and different types of bots interacting with the Stellar Universal Marketplace (shout out to Kelp!); the better in our opinion!
Galactic Bot currently manages the only active PHP library for interacting with Horizon. We have based our library of ZuluCryptos implementation and made several improvements that were needed for Galactic Bot.
How does the project uses Stellar?
Galactic Bot is fully built for and on Stellar.
In other words, what will we do with any community funding we receive:
- Companion iOS and Android signing app (we won’t have access to your secret key!)
- Add more trading strategies (Currently only an EMA strategy is implemented)
- A visual editor for basic strategies, which allows you to setup simple buy-and-sell decision flows based on signals.
- Copying and selling of “winning strategies” for a fee from other users through the leaderboards
- Expanding of the server platform
The Future of Trading: Stellar Universal Marketplace + GalacticBot!
Example of a live running bot: https://galacticbot.com/leaderboards (Reset June 14th)
Over the coming days we will invite our first wave of sign-ups for our beta that have signed up in past months. You will be able to create a bot and trade with some free play money.
If you wish to add yourself to the list please sign up here: https://galacticbot.com/#footer Spots will be limited and dependent on the available processing resources on the servers.
Source code & documentation: https://github.com/unwindnl/GalacticBot/
Misc FAQ: https://goo.gl/6o3tAJ
Thanks and please vote for us!