Avorak AI opens beta testing for ICO participants this May
Avorak aims to be the premiere suite of artificial intelligence tools capable of assisting in creative, financial, and social tasks, using AVRK as a method of value transfer to access the ecosystem of products.
What is AVRK?
AVRK is the blockchain token for Avorak. When users wish to use any Avorak products, they will purchase AVRK and use it as payment to access the ecosystem, where they can generate images and text, discuss with chatbots, and trade automatically.
When AVRK is paid into the system, the automated payment contract will route 49% of revenue back to AVRK holders on-chain, in addition to automatically burning 2% of the payment. Unlike ‘reflection’ tokens, this means the burn is based on the use of the product, not by punishing those trading or transferring the tokens, in addition to creating a deflationary supply that can decrease by an unlimited factor.
AVRK is already confirmed to be available on launch from PancakeSwap, Latoken, Azbit, and Coinsbit, with a number of exchanges said to be in negotiation also.
Avorak should have plenty of places to buy in order to access the system, in addition to being able to trade the token.
Avorak Trade is the first product set to be released by the Avorak team. The product incorporates a machine-learning system for trading that simulates hundreds of ‘paper trades’ and analyzes the outcomes to determine which trading indicators provide the best outcomes. It then applies this analysis to predict future price patterns and makes these trades based on this. Users allow access for the trading bot to automatically buy and sell, with appropriate risk management set based on the trader’s risk appetite.
This state-of-the-art system aims to reduce losses, manage risk, and increase win rates for many traders that struggle to stay profitable in such volatile market conditions.
What is the beta?
With products that involve money, it is imperative that intensive testing happens beforehand. The Avorak beta will be a selected public testing period in which limited selected individuals can access the Avorak Trade platform.
The applications are open already, with the team reporting that uptake has been huge in their Telegram channel.
The beta testing will likely tell the team how the bot responds, the bot’s profitability vs. manual trading history, and provide notes on what to improve.
With an opportunity to help shape a potentially world-renowned product, it is no wonder many are jumping forward with their hands raised. The interest in the beta alone can lead to the assumption that there will be significant interest in the product after the general release.
With Avorak approaching the end of its ICO, the chance to get in early at under $0.25 before the launch at $1 is getting smaller every day.