Gimmer is a decentralized platform that aims to provide traders with extremely efficient, reliable, and flexible tools to make cryptocurrency trading as profitable and simple than it ever was.
It does this by providing algorithmic trading bots built to make efficient trades for all investors without restrictions.
There is no need for programming knowledge or previous trading experience in Gimmer as all complicated processes work in the background; all investors are welcome to use user-intuitive trading bots that are highly customizable depending on the investor’s trading goals. At the same time, users do not need to understand cryptocurrencies like a pro which means that even first-time cryptocurrency traders can enjoy the benefits of Gimmer.
We recently sat down with Philipe Comini, the CEO of Gimmer to have a chat with him about the project as well as finding out his thoughts and insights.
Hi, Philipe. Thanks for joining us today. Can you tell us more about yourself and Gimmer?
Sure, I was born in Brazil and have been living in London for the past 9 years. My background is predominantly design and User Experience. I have worked for the top agencies in the world and I’ve produced creative work for brands like Disney, Xbox, Honda, Nestle, Sony, among many others. I discovered cryptocurrencies in 2014 and I was amazed. I couldn’t believe I didn’t know about them beforehand. A friend of mine and Co-Founder in Gimmer, Pérsio Flexa, introduced me to this world.
He is a full stack developer with a technical background. Even in 2014, he was a few steps ahead of the market – he developed algorithms or ‘bots’ to spot opportunities and trade on his behalf.
The additional gains he was making was phenomenal, it blew my mind.
Following our conversation, I decided to investigate this myself and see what I could build, but I was lost. I needed his help and guidance.
I then joined various communities and saw the demand for trading bots was high as crypto trading can become a full-time job due to the innovation in this space. We started brainstorming how we could improve the process of developing these bots with non-technical people in mind – using his technical skills and my design skills.
Boom, and that is the story of the birth of Gimmer. Building bots to trade cryptocurrencies. Persio suggested we could make this process much easier by building a platform so everyone could use it regardless their level of expertise. On that day Gimmer was born.
First off, why did you decide to use the blockchain in building Gimmer? What was your thought process behind it?
We are building a decentralized application which runs on people’s computer. We are not building our own blockchain per say. We will depend on the Ethereum blockchain for some tasks, like storing users’ data.
As we’ll be generating our ERC20 token called GMR Token, it makes sense to use to use Ethereum infrastructure to work alongside our DAPP.
Gimmer is built on the Ethereum blockchain for multiple reasons, but the key reasons are the ability to reduce security breaches and enable our application to exchange data and use it to activate the features of the app.
The traditional stock markets have operating hours and days, not the world of cryptocurrencies. We are building systems that will be dealing with large sums of ‘digital money’ 24 hours a day, 365 days a year. Any sort of breach will be highly costly not just for the company but also for all our users, leading to a lack of faith in the system and eventually lead to a collapse. Understandably, we want to avoid this at all costs and for that reason, we decided to build our system on the Ethereum blockchain.
Tell us about how you came up with the idea of Gimmer. Did you face a problem within the industry or do you think there is a gap in the market for Gimmer to fill?
I want people to think of Gimmer store like the ‘app store’. App store was launched so the creators can create amazing apps and tools for others to use and improve their lives. Creating software, algorithms and apps aren’t for everyone, it’s for a select few, but billions of people around the world still get to use them.
On Gimmer platform, everyone from amateurs to an expert will be able to come and trade cryptocurrencies using bots, regardless of their level of expertise.
If you can build, build for others.
If you can’t, rent from others.
Collaboration at its best!
Currently there a few platforms which you can create crypto-trading bots, but they require programming skills and a great amount of knowledge and time. As I mentioned before, the overall idea of Gimmer is to simplify the experience of creating bots to trade on your behalf.
We are also building a Bot store that will enable our platform to connect experienced traders to complete beginners and this will bridge the gap between the two.
What do you think is the biggest problem Gimmer will solve and why is the problem important to solve?
As per our research, we can identify that 80% of the trading markets are automated. The banks and big hedge funds use such automated solutions to achieve massive profits. With the extraordinary advancements in the fields of AI and machine learning over the past few years, such technologies are becoming more accessible to everyone.
uote>In finance and trading, this won’t be any different. In the very near future, we’ll have bots competing against bots. The most intelligent one will take the bigger profits. The holy grail hunt has already started.
The outcome will disrupt the industry and bring the whole game to the next level.
The rise of the blockchain has also seen a rise in the number of startups providing trading bots or algorithms that either fully or partially manages the portfolios of users. Why do you think this trend is happening? Is it because of the actual demand from users or is just a “hot” trend that many startups are catching on?
Automation is the future, not just for trading but for every industry and humanity. To answer this correctly, we have to understand what automation does. Put simply, it reduces manual labor and increases efficiency. Software and algorithms power the world, most individuals just aren’t aware of this. Automation will continue to play an ever-increasing role in our industry and we will be grateful for it.
In terms of Gimmer, we are building systems that will enable individuals to maximize their profits in a market that is very much active, 24 hours a day and 365 days a year.
A friend of mine once said, missing out on minutes in the crypto world is like missing out on hours in the ‘normal’ world and missing out on hours is like missing out on days and so on. We just don’t want enthusiasts to miss out on anything and thankfully bots don’t need to eat, sleep or rest.
Intelligent automation in any industry brings a whole different perspective and special value. For instance, in the automobile industry, Tesla has been working on self-driving cars and trucks.
I trust that there’s a demand for it because whatever that can save you time and money, or even make you money, is something not just “hot” for a moment but rather something to stay.
If you can rely on a service that can do something exceptionally well for you why would you do it yourself? That’s one of the biggest challenges we’ll face. To create the most intelligent and reliable bot which will provide the best possible trading experience.
Editors Pick: Gimmer ICO
The cryptocurrency market today is a far cry from where it first started. Often described as “volatile”, today’s cryptocurrency market is growing extremely fast in comparison to other markets in the world which presents a potential gold mine for traders to earn significant amounts of profits in a relatively short
The most interesting aspect of trading bots is almost always the technology behind it. With the volatile nature of cryptocurrencies, what technologies do you have in place for Gimmer to ensure that trades are accurate and efficient?Are there any safety features in place to prevent massive losses to investors?
As I write this, the cryptocurrency market cap stood at $550BN on the morning of Jan 2016. In the last 10 days, the whole market had lost around $300 BN – this is important because I want to emphasize there is no technology in place that can guarantee prevention of massive losses. Unfortunately this is the nature of the industry and fortunately, this is exactly what keeps things exciting.
What our systems do is enable you to put your strategies in play around the clock, so if you think your strategies can minimize losses and maximize gains, that’s what the bot will do.
In terms of accuracy and efficiency, we believe software has much more potential to achieve this than humans because of the speed of execution.
Tell us more about the bot store. What is the reasoning behind having a bot store instead of providing them all at the start to users? Also, how do you weed out the good strategies from the bad? Is it solely based on performance?
The bot store is a key element of Gimmer’s offer. Gimmer will be the go-to place for any type of cryptocurrency trading for any type of trader. For example – margin trading, arbitrage trading, etc. However, for experienced traders whose strategies are doing well, the bot store will provide them with the opportunity to rent their own bots to people less experienced.
Again, I want to go back to the ‘app store’ analogy. We will have a rigorous review system that enables users to differentiate between the good, the bad and the ugly with ease. Users will be allowed to comment, review and share their experience of every strategy they use.
We may even push it further to create a system where reviews are mandatory (think Uber or Airbnb) to further improve our traders’ experience.
We’ll show the performance and other interesting stats but never what’s behind the strategy, therefore protecting the trader’s intellectual property. This will provide traders with an additional income stream as they will be able to set a price for each bot. Equally for less experienced traders or complete beginners, having a professional trader who they can rely on will be a game changer. This social engagement is crucial for the platform to reach its maximum potential. We want to create not just a crypto-trading platform, but a community which people can share, learn and earn together. That is how unique value is embedded.
On the topic of renting bots, is Gimmer going to continue providing trading strategies or are you shifting towards becoming a 100% trading bot marketplace instead of providing strategies yourself?
Are there any other future products or services coming up?
Our platform is more than just a bot store. We are in the process of building a community of cryptocurrency trading enthusiasts. There are great platforms currently that the team and myself use to get tips and engage with other enthusiasts, but the market is very dissected and full of ‘noise’.
We want to try and get away from that and build a ‘safe haven’ and already have over 20,000 people in our community. We also plan to further enhance our platform by providing learning pools, tutorials, and courses for upcoming crypto enthusiasts.
What’s something that you believed to be true for a long time until you found out that you were wrong, or if you don’t like that dichotomy of right versus wrong, what’s something significant that you really changed your mind about over time?
I am from Brazil as I mentioned before. Although it’s one of the most beautiful countries in the world it was very hard to grow up there in comparison to other countries. I have seen a lot of dissatisfaction, and poverty and never used to buy into ‘you can do anything you want to in life’.
But I was wrong, I think anyone, anywhere can achieve their true potential if you set your mind to it and act.
I hope I don’t sound too cheesy here.
Just a quick comment on that, I have met a lot of dreamers and visionaries but not so many action takers, so if I can encourage your readers to do one thing, I want it to be ‘take action’ in anything they want. As long as you have a clear vision of what you want, go for it. The reward will come.
What has been your happiest moment so far working on Gimmer?
One of our happiest moments was when the number of downloads for our demo app crossed 10,000. And positive feedback from users also makes me feel warm inside, as does seeing our team that has been formed (and is still growing).
On the flipside, what has been the most painful, or perhaps the most regretful decision you’ve made with Gimmer?
Hindsight is a beautiful thing. Even after we have done things right, we have often found ways to do it better and of course, when you go wrong, you wish you had done things differently. I think part of starting a company and entrepreneurship is the learning curve, which has been extremely exciting for us. So, without the risk of sounding arrogant, I would like to say we haven’t made many regretful decisions.
Is Gimmer already working with notable businesses or firms? Are there any future partnerships in process? If yes, can you explain briefly about it?
Gimmer (GMR) and XTRADE.IO (XTRD) are working in a partnership to build several new next-generation features for Gimmer’s existing decentralized automated cryptocurrency trading platform.
XTRADE.IO will be bringing their expertise and tech to further enhance Gimmer’s trading system. This will include building a unified FIX API to allow Gimmer users to execute trades across multiple exchanges much faster as well as having aggregated liquidity. This means Gimmer’s trading bots, including arbitrage, will execute deals quickly at the best possible price. Totally a game changer.
Gimmer already has a working beta version and a crypto trading bot app that has been downloaded over 10,000 times. The addition of the XTRADE.IO technology will enhance Gimmer’s offering, which gives novice and experienced traders the best and most intuitive decentralized trading platform in the crypto sector.
Tell us more about GMR. What is its function in the platform and what can users expect from it in the future?
Every purchase, rental, sale, exchange, reward or fee made in the ecosystem will require the use of GMR Tokens. This includes, but not limited too:
- Paying for the rental of crypto-trading, crypto-lending and crypto-arbitrage bots
- Customising your trading strategy with additional currency pairs, indicators and safeties
- Renting trading strategies from other customers
- Earning GMR tokens for creating content in Gimmer’s integrated social network
- As a reward for expanding the Gimmer community by inviting friends
- As a reward for featuring in the community ‘Best Bot’ leaderboard
Simply put, the function of the platform is to help cryptocurrency traders maximize their profits using automated cryptocurrency trading bots. Systems that don’t need to eat, sleep or rest unlike us, but can be tailored to your specific strategies with ease.
Also, if you are new to the game and not confident in trading, you could rent strategies from more experienced traders if you wish. Or even if you are experienced and confident, you could find more profitable strategies than yours and adapt them yourself.
What do you think is the biggest challenge or obstacle Gimmer will face? How do you plan to tackle that challenge?
We believe the biggest challenge for Gimmer is going to be overcoming human psychology. As it is with any industry, adoption of new technologies can be slow – for example, adoption of self-driving cars and complex artificial intelligent systems. The majority of the tech has been available for some time now, yet not widely used, but it takes the right platform for crypto traders to trust bots to do their trades over the year and around the clock. It will be all about how reliable and accurate our bots can be. Our data science, ML and AI team will have a big challenge ahead and I’m confident we’ll do an excellent job to overcome any obstacles.
Moving on to more personal stuff, what does a typical day in your life look like?
This question comes at a great time because we welcomed our first daughter into this world 10 days ago. So, as you can imagine, right now, it’s pretty hectic. But in a good way!
In terms of work, weekday and weekends don’t mean anything and nor do days and nights. Our team is very international, spanning Asia to South America, meaning working around the clock can be achieved easily by building an incredible team and support system around me. As we are currently in the process of a token sale – so the majority of my time is taken up managing and reaching out to potential investors.
Amongst all this, I also try and keep myself active by going to the gym as often as possible (4 times a week is good).
Can you express one personal opinion of yours about the blockchain? It doesn’t matter if it’s negative or positive, we just want to hear your thoughts on it.
Sure, in one line? I think it’s great. Having a decentralized public ledger which can be audited at any time and also highly secure can disrupt many industries.
Finally, what other personal goals (besides your career) do you have in life? Is there anything else in life you want to achieve?
I want to continue doing what I do, as design is my passion and hobby. Creating solutions which bring value to people’s life. At some point in the distant future, I want to develop coaching skills and help people like me achieve their goals.
That concludes our Interview with Philipe Comini
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