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Doubly Partners with an Insurer to Secure its Trades

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Doubly Partners with an Insurer to Secure its Trades
Source: Doubly.io

Doubly, a crypto trading company the makes the most of the innovations of Artificial Intelligence (AI) has announced a partnership with a financial services insurer. The deal between the trading platform and Financial Global Insurance Solution Limited (FGI) seeks to help provide the platform’s investors with an easy exit without necessarily hurting Doubly’s trades.

The arrangement between Doubly and the insurer will enhance the liquidity of the system. It gives the platform’s investors a chance to pull out their investment at any time while protecting Doubly from the market turbulence.

Doubly, which was formed in 2016, applies AI to undertake trades using various signals for many sources. This new deal, as such, gives users a more natural way of opting out while protecting the system as well as those the customers that remain from the effects of disrupted cash flows.

The Doubly – FGI Deal

FGI is a renowned provider of insurance products and services mainly to players in the financial industry. With its broad reach, it protects these firms from the market shocks and also covers their clients from loss occasioned by a myriad of market-related reasons. In certain instances, it also covers the activities of its clients.

FGI conducted a thorough inquest into the operations of Doubly before penning the deal in question. The insurer undertakes such inquiries as a standard operations procedure to ensure that only the deserving firms procure its products and services.

The insurer studied the trading platform’s success rate as well as other critical aspects such as daily trade volumes, expenses, and liquidity. The study culminated with a deal that best meets the needs of Doubly and its customers. Overall, the partnership will help Doubly to provide its products in a safer environment.

The Insurance Deal in Detail

The deal entered into between Doubly and FGI is a get-out-smooth kind of arrangement that will allow Doubly investors to pull out their investments at any time without affecting the operations of the trading platform. In a nutshell, Doubly customers from now henceforth shall, if they want, liquidate their investment and pay back based on the stipulated terms of the agreement, and earn their invested amount.

This deal makes life easy for Doubly investors because it implies that whatever money they invest on the platform is always available to them. Where a customer chooses such a path, FGI shall provide funds to cover the gap that release of the client’s investment left gapping. However, the convenience of this arrangement shall set back the customers between 20 and 30% of their investments depending on the Doubly package they bought.

As part of the package, FGI shall provide up to US$ 39 million monthly to underwrite such pull-out deals. The Doubly platform has finalized the necessary adjustments that will allow its customers to seek a release right from the convenience of the platform.

Doubly has gone ahead and secured even more cover from the same insurer. Along with the insurance that gives clients a money-back guarantee, Doubly will get a cover for its trades. Though Doubly affords very impressive margins, it has bargained for this cover to help it prepare for worst-case scenarios. With the US$ 15 million cover on every trade session, the firm now ensures that its customers do not bear the brunt of the devastating effects of a bad day.
Aside from fending off the effects of unforeseen calamities, the latter deal will also ensure that Doubly’s liquidity remains constant at all times. FGI, on its part, will take home a portion of every successful trade made by the Doubly system.

How Doubly Rewards its Investors

Over the past two years that the Doubly system has been operational, its bot has gotten better with every trade. The said bot analyses and executes trades that leave it with profit margins of between 6 and 10%. The platform has a smart and polished, self-learning engine that relies on the advances of AI to execute highly profitable trades. Moreover, it can actualize these trades far faster than a person would.

The Doubly system has an internal ranking system which is instrumental in evaluating the profitability of every trade the bot undertakes. Aside from the mentioned evaluation role, this ranking system helps the bot improve the outcome of its future trades. The bot factors in data from various sources as well as the results of each trade it executes. It then uses these to develop a signals-reading pattern that betters every transaction.

For the bot to trade, it collates data from the ranking system and interprets these into signals. Whenever the signs on a particular cryptocurrency are adequate, then the bot decides to either buy or sell the said cryptocurrency.

More information about Doubly is available on the website.
Contact person:
Richard Greene – CEO, Doubly
[email protected]



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Press Release

Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June

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Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June
Source: Pixabay

Ampleforth expected ticker symbol AMPL, announced today it will be the first initial exchange offering to be conducted on Bitfinex&Ethfinex’s token project launch platform, Tokinex.

Ampleforth’s whitepaper, co-authored by Manuel Ricon Cruz, a researcher at the Hoover Institute, introduces the Ampleforth protocol. Further context for understanding the implications of AMPL as a new type of synthetic commodity and economic theory is provided in the accompanying Red Book.

The appeal of digital assets like Bitcoin is that they are uncorrelated with traditional asset groups. But, among large-cap digital assets, there is a high degree of non-diversifiable risk and the price volatility of most cryptocurrencies mimic that of Bitcoin.

Evan Kuo, CEO, and founder of Ampleforth said, 

“We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold. The Bitfinex and Ethfinex user communities are among the best in the industry, and we are excited to work alongside the Tokinex team for Amples’ exchange debut.”

Ampleforth’s protocol receives exchange-rate information from trusted oracles and propagates that to holders of Amples by proportionally increasing or decreasing the number of tokens each individual holds according to the magnitude of the exchange rate fluctuations over the previous 24 hrs.

For traders, these changes in the exchange rate and quantity translate into changes in Ample’s market capitalization. Ultimately, unique trader behavior in response to the protocol’s incentives is expected to produce an asset price with lower correlation to Bitcoin than other digital assets.

Jean-Louis van der Velde, CEO at Bitfinex, stated 

“The Ampleforth project is fascinating to us with its refreshing vision to become a unique digital asset and serve as a potential future reserve currency. We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex and we are excited to provide an opportunity for the community to be a part of it.”

Paul Veradittakit of Pantera Capital said,

“Ampleforth is interesting because there’s not another asset like it, so it will likely not be correlated with other large-cap cryptocurrencies. With more traders and enthusiasts entering the ecosystem since the last rise, there needs to be an option like AMPLs, which could reduce the risk for the entire space, and potentially attract more institutional interest.”

About Ampleforth

Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, and Slow Ventures. For more information, please visit our website.

About Tokinex

Launched in May 2019, Tokinex is the IEO platform of Bitfinex and Ethfinex that brings fair opportunity to participate in curated token projects. It gives qualified participants the chance to contribute to pre-vetted token sales directly from their personal wallet through common crypto assets, and with no personal data or funds held by the exchange.

Tokinex uniquely does not require tokens to pay an upfront fee for listing and following a successful capital raise are subsequently listed on the two exchanges as permitted by applicable law.

For further information please contact.

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