BANCA Project Update 7.6.2022

General Update:

As we have uploaded three more researches on CoinDr platform in the past month, online test for this new application has concluded with success. So far, users have access to a total of nine research series on CoinDr, each of them is created by BANCA team and contains meaningful information about the crypto market. For example, in CoinAI Research Report, we summarized expert behavior on CoinAI platform so that users can track their positioning more easily. And in our latest researches, Defi Market Fragility Report and NFT Market Fragility Report bring deep insights to the two hot spots in crypto market today. We have also brought users much analysis in factor models in Momentum Factor Tracker, Advanced Momentum Research and 101 Factors Report. In addition, you can also find researches in asset allocation, market trends as well as ERC-20 market.

Since the announcement of BANCA project in the beginning of 2018, our team has built a great platform which can meet the needs of global crypto community. On the platform, we have developed four wonderful applications, each creating a full user case for BANCA token. In 2018, we started with our first application, CoinAI, world’s leading quantitative research engine for cryptocurrencies. It quickly proved to be a very useful tool for crypto lovers. As regular users can track the performance and holdings of other users, they can gain access to expert portfolios and improve their own performance. Then we moved on to CoinUltra, a terminal of AI-assisted information market for cryptocurrencies. In this second application, we leveraged deep learning technology and web crawling technology to analyze real-time news information and allow users to gain instant results. The accuracy of the deep learning model also can improve over time when more data are fed into the training system. After finishing CoinUltra, we continued to develop CoinShell, an AI-powered trading assistant platform. This is another useful tool for generating short-term trading ideas. We leveraged our expertise in machine learning and technical analysis of the market to calculate a series of trading signals in real time. Because of the nature of technical analysis, it differentiated very well from existing applications at that time. Last but not the least, we then built our latest application, CoinDr. It is an advanced research reports center for cryptocurrencies, in which we provide a series of deep market research on a regular basis. Those researches are based on careful backtesting using historical data and based on financial models that have proven effective in traditional financial market.

We believe this lineup of applications have fulfilled our original goal of BANCA project. However, developing and maintaining such a project has also proved to be expensive and overwhelming. The team has become more and more burdened with development and maintenance work including maintaining and bug-fixing in all four applications, a large database to support machine learning models including some deep learning models, as well as quite a few data interfaces to various third-party data sources. The machine learning models in all our applications also need to be updated and checked for effectiveness on a regular basis.

Besides this, the crypto operation environment has been tough for the team in the last couple years. The Chinese government has effectively banned all crypto-related activities, making it illegal to operate. Covid-19 caused wide lock-down in Shanghai. Besides, the crypto market remains to be extremely volatile for the past few years. Those factors not only added to our operation cost and difficulty, but also greatly reduced the number of our potential users. After more than four years since the start of BANCA project, our funding is exhausted. 

Therefore, we have decided that, from now on, BANCA team will focus more on maintaining our existing applications. While we will still make sure that all applications work properly and all models and research reports are updated according to schedule, we will not be able to work on new applications. We will continue to send out project updates from time to time, but those will no longer be on a monthly basis. Please understand that it is sad for us to make those difficult decisions, but we do not have other options under the current circumstance.

Development Progress:

  1. Online testing of CoinDr beta version finishes. Research reports uploaded.

BANCA Platform

The BANCA platform serves the global cryptocurrency community. BANCA’s dynamic eco-chain uses AI and expert system that includes automatic management. The BANCA platform analyzes Big Data and delivers precise services tailored to the specific needs of our individual users.