What Is Dropil?
Dropil is an Ethereum-based cryptocurrency trading platform that includes a full suite of market analysis tools in a graphical user interface (GUI). Dropil leverages machine learning, big data, and artificial intelligence to power a variety of automated tools and bots on its network, including Dex, a decentralized exchange; Max, a smart wallet; and Arthur for arbitrage. Drops (DROP) are the native ERC-20 tokens used on the Dropil network.
Dropil is also the name of the for-profit company that operates the Dropil network out of Belize. It’s headed by founders and developers Zachary Matar and Jeremy McAlpine. The project was founded on the realization that trading cryptocurrency is much harder than it sounds on the surface.
Not only do crypto traders need technical aptitude, but financial planning is a beast in and of itself. People invest for retirement, income generation, and a variety of financial reasons. Financial advice is never easy to come by, and many professional advisors are barred from advising clients on crypto investments.
Institutional investing giants like JPMorgan Chase, Merrill Lynch, and Vanguard hate Bitcoin and its blockchain brethren, and they’re very vocal about it. Yet early crypto investors are fleet-footing it in Lambos, and they’re not exactly being quiet either.
Dropil’s goal of making cryptocurrency investment accessible to the masses is a good one. It also comes in a year when a bear market is stabilizing from 2017’s price manipulation.
We’ll begin our analysis of Dropil’s platform with DROP, its proprietary ERC-20 cryptocurrency token.
DROP Cryptocurrency Summary
Dropil held a private ICO presale from January 24 through February 6, 2018 and a public ICO token sale from February 7 through March 7, 2018. Approximately $60,000,000 worth of ETH, BTC, LTC, BCH, NEO, XMR, ZEC, and DASH was collected during the Dropil ICO in exchange for 18,000,000,000 DROP.
The remaining 40 percent of the DROP supply (12,000,000,000) was divided as follows:
- 20 percent (6,000,000,000) distributed to Dropil founders
- 15 percent (4,500,000,000) deposited into the Dropil vault
- 5 percent (1,500,000,000) distributed to the Dropil team
DROP has a capped supply and cannot be mined.
As an ERC-20 token, DROP is supported by any ERC20-compatible cryptocurrency wallet, including MyEtherWallet and the Nano Ledger S hardware wallet. Dropil also has its own smart wallet, named Max.
The Max smart wallet tracks your cryptocurrency portfolio across multiple sources, monitoring token addresses, syncing information, and giving you a Mint-like look at your crypto assets.
Max is one of many decentralized bots crawling Dropil’s network, which we’ll discuss more in-depth in the next section. Its support across multiple wallets (including hardware wallets like those made by Trezor and Ledger) makes Max a powerful crypto wallet solution.
Approximately $50,000 worth of DROP is exchanged off the platform on a daily basis. Cryptocurrency exchanges that accept DROP are IDAX, RightBTC, IDEX, Tidex, and BitMart. Its trading pairs are BTC, ETH, and USDT.
DROP is used as a utility token placeholder for other crypto balances and trades on the in-house Dex and Jade platforms.
Meet the Dropil Bots
The use of machine-learning and AI algorithms in financial technology isn’t anything new. Bank of America, for example, uses Erica (a female moniker derived from the end of its brand name) as a customer-facing chatbot to perform routine account services.
JPMorgan Chase, on the other hand, leverages its Contract Intelligence platform (COiN) to save over 350,000 man hours spent analyzing legal documents.
Dropil is hoping its suite of bots and powerful data analytics can integrate cryptocurrency investments into the average Joe’s life. Every investor has a different financial background, risk aversion, and investment style/reason. Keying in on these factors is important to fine-tuning each tool’s utility.
By automating the most tedious, time consuming, and complicated parts of investment, it hopes to lower the barrier to entry for everyone. It does this through three (so far) main bots:
Dex Trader Bot – Dex is not actually a single bot, but actually a series of bots carefully crafted to follow logic stacks connected to risk pools. For example, if you’re an aggressive trader, it will automate the trading habits of an aggressive trader. This also includes switching logic in response to market trends, along with the options for manual overrides.
Jade Trader Bot – Jade is Dropil’s newest trading bot, similar to Dex in reach but focused on manual control across cryptocurrency exchange accounts. Jade is still in development as of December 4, 2018, but is expected to launch early in 2019. It will also include a GUI with powerful reporting on balances and trade activity. Jade is a premium product that will require a fee, although pricing details are not yet available.
Arthur Arbitrage Bot – Although some trading data is available in Jade and Dex’s APIs, Arthur is the bot with all the information you want about pricing. Monitor over 13 exchanges and 10 cryptocurrencies in real time for no fee, so long as you hold at least $50 worth of crypto assets. The Dropil team is actively developing more features for Arthur, including notifications, text trades, and more.
Max Wallet Bot – Max is Dropil’s smart wallet bot mentioned above. Max promises end-to-end encryption and support for a variety of wallet APIs. No matter what your security preferences are, Max can supposedly keep your crypto assets secure.
As these bots continue learning and development, Dropil’s powerful tools are well positioned to become a one-stop shop for crypto traders of all skill levels.
Dropil is a full suite of powerful investment tools leveraging machine learning algorithims and AI bots to fuel a consumer-friendly crypto trading experience. The platform’s GUI and support for a wide range of crypto projects, exchanges, and wallets makes it a useful tool for traders of all levels. The success of Dropil hinges on these key factors.
Dropil resides on the Ethereum blockchain, and DROP is the native ERC-20 cryptocurrency token used for payments and trades on the Dropil platform.
- Dropil so far has four AI-power bots: Dex, Jade, Max, and Arthur. Each bot specializes in a specific niche within the crypto investment ecosystem, including a wallet and decentralized exchange.
- Dropil categorizes people by factors such as risk aversion to personalize data and trading habits. It can also automate a variety of tasks based on personal preferences.
With these pieces in place, Dropil is a cryptocurrency investment tool anyone should be able to use. It’s not trying to compete with other wallets and exchanges, but rather integrate them all into the experience the way a service like Mint does for traditional assets.