Cindicator Digest: Progress in Q1 2021
The first quarter of 2021 was a busy time for anybody in crypto. Bitcoin reached $60k, DeFi boomed, NFT broke into the mainstream. All Cindicator products also experienced high demand, often stretching the team’s ability to respond to all your enquiries. This post aims to update you on everything that’s happening across the Cindicator ecosystem.
Cindicator Collective Intelligence Platform
Cindicator’s Hybrid Intelligence remains the core part of the ecosystem. Over 174,000+ analysts are registered on the platform to make forecasts. These data points are then processed by AI to create final predictive indicators.
A new rewards system was released in March, directly linking the value of contributions and rewards. While a minority of users complained, most analysts and token holders welcomed the change. The feedback loop between the value of forecasts and rewards should increase the accuracy of indicators.
In March, some of Cindicator’s Hybrid Intelligence indicators were also launched as CND APP across 300,000 Bloomberg terminals. This initiative should put Cindicator on the radar of institutional investors around the world. After millions of new traders joined the market last year, the retail crowd is now a force to be reckoned with (just think of GameStop) and sentiment indicators should be in demand.
- Questions posted in Q1: 1,642
- Indicators sent to CND token holders in Q1: 718
SuperForecasters Signals for Bitcoin
First launched last year, SuperForecasters’ signals continued to grow organically and gained an initial group of subscribers. Since launch, a sample market-neutral strategy has geеnerated a consistent double-digit return in BTC.
Several SuperForecasters have gained name recognition and trust even though they are pseudonymous. For example, analysts nicknamed ‘Eku’ is now the leader with 112% P&L and a 2.13 Sharpe ratio (that’s very good).
- Subscribers in the Freemium version: 5,463
- Individual win-rate: up to 67%
- Individual long-term P&Ls range: 52% to 112%
Macro Sentiment Indicators
There is now a year worth of data for Macro Sentiment Indicators. They have been used to profitably trade stock options, commodities, and FX pairs. A simple long/short strategy for the S&P 500 has demonstrated a 5x outperformance compared to the passive holding of index.
Over the past months, a strong community formed around these indicators — and that’s valuable of itself. Trading is a lonely endeavour and having a group of like-minded traders is helpful. And it’s also great for staying on top of trends: for example, some members noticed GameStop months before it broke into the mainstream.
- Members in the Discord traders community: 1,374
- Average win-rate for community strategies since inception: 70%
- P&L of the sample strategy since inception: 81% (30% for passive SPX hold)
Publicly launched in September 2020, Stoic has emerged as Cindicator’s leading product. Thousands of new users have automated their crypto trading by connecting their Binance accounts to Stoic.
Stoic’s current strategy is a long-only portfolio of altcoins. Since March 2020, it made over 2,000%, beating Bitcoin and stocks like Tesla let alone stock market indices.
Stoic is delivered as a simple mobile app, which added new features in Q1:
- Hedging: select what share of your portfolio should be always kept in USDT (this should hedge the risks of a sell-off and later buy the deep with this stash);
- Interactive chart. Now you can check your balance and returns for a specific date, just tap on the chart around that day;
- Refreshed look for the whole app. Everything is lighter and you’ll enjoy using it even more.
The rapid growth of Stoic has put enough pressure on the support team. If you’ve experienced some issues or delays, you should know that you’re one of the pioneers of the crypto industry. Some discomfort is inevitable when it’s that early in the journey. Still, the support team more than doubled and now covers all time zones 24/7.
Even the back-end infrastructure at times struggled with high demand, causing technical delays to the start of trading for new users. After a major upgrade to Stoic’s back-end, trading starts within an hour after fees are paid in 50% of cases and starts within the same day in nearly 100% of cases.
- Stoic P&L in Q1: +365%
- Crypto assets on user accounts connected to Stoic: $31 million
This stage in the crypto market cycle is a very busy period. It is the perfect time to grow the ecosystem and introduce Cindicator to new people, institutions and potential partners.
The Cindicator team will be working on several important workstreams:
- CND+, a special programme for CND holders and will strengthen links between different parts of the Cindicator ecosystem;
- New experiments with indicator products, including the promotion of the CND APP for Bloomberg;
- New strategies for Stoic, primarily a long/short strategy that aims to perform in any market.
This isn’t a precise plan because as you know the crypto market moves very fast. The team will do its best to make the most of all emerging opportunities for growing and developing the Cindicator ecosystem.