About Kryll (KRL)

Kryll is a cloud-based platform that allows users to implement and monetize their own automated trading strategies. Kryll’s native token is KRL, used to “fuel” both new and existing strategies on the platform.

Per project documentation, users leverage Kyrll’s intuitive “Drag and Drop” interface to create bespoke automated trading schemes. Powered by a robust flow-based technology called Wysiwyt (what you see is what you trade), the interface enables traders to build and back test anything from simple DCA models to complex indicator-driven strategies.

Individual schemes are fueled by KRL tokens, which users are required to deposit on a periodic basis in order to keep their strategy operational. Once successfully implemented, these strategies can be kept in house or monetized via the Kryll marketplace for tokenized rewards.

Unique trading strategies are generally built and back tested with a given group of trading pairs in mind. Users are generally advised to implement the strategyusing the token pairs recommended by its creator. Once invested, traders can view the performance of their chosen strategies via Kryll’s web-based and mobile applications.

All users interacting with Kryll are required to have a centralized exchange account linked to the platform by way of a unique API key. As such, individual trades are not executed directly on Kryll, but rather the centralized exchanges integrated with it. The API key supplied by each user is what ultimately allows Kryll to access these exchange platforms and make trades on the user’s behalf, documentation explained.

As of August of 2022, Kryll was compatible with a series of leading centralized exchanges including Coinbase, Binance, and FTX, among others.

Apart from facilitating the design and implementation complex trading strategies, Kryll possesses a set of intuitive tools designed to streamline the trading process. The platform’s proprietarytrading terminal allows users to design complex multi-leg trades unavailable through many traditional trading platforms. Likewise, Kryll’s easy-to-use swap function allows traders to switch between assets instantly at the press of a button.

To date, more than $4 billion of value has been traded using Kyrll’s various automated strategies. The platform currently recognizes a global user base of over 100,000 constituents.

When was KRL created and how much was it worth?

Kryll is the brainchild of two French blockchain engineers Luca Benevolo and Philippe Longere who created the platform in July of 2017.

Both Benevolo and Longere currently hold senior leadership positions at Cryptense, a “full stack blockchain company” that owns Kryll and supports its development.

Per Crunchbase, Kryll was able to raise an undisclosed amount during two separate funding rounds in 2018 and 2021. Major investors included BitMEX-backed 100x Ventures.

The platform’s native token, KRL, was first distributed to eligible community members in May of 2018. 

KRL began swapping hands at around $0.078 and endured roughly 3 and a half years of tight, range-bound trading before making a near parabolic move up to a record high of $4.75 in November of 2021. This rally was extremely short-lived however with the token losing nearly 50% of its value within a matter of days, according to data from CoinGecko. KRL’s price has failed to muster up anything other than sustained downside momentum. As of August 2020, the token was trading for less than $0.50.

How is the price of KRL determined?

KRL is a deflationary asset with a hard cap of roughly 49.4 million tokens. Per a platform blog post, roughly 56% of KRL’s total supply was initially disseminated during the token’s presale andpublic distribution, while a further 22% was allocated to Kryll’s core development team and advisors. The remaining 22% of supply was granted to the Kyrll community for the purposes of marketing, contests, and new user acquisitions.

As of August 2022, there were 38.5 million KRL tokens in circulation.

Why does KRL have value?

Kryll’s value is a factor of its ability to facilitate the creation of complex automated trading strategies by those with limited technical expertise. The platform’s native token, KRL, operates as a gas token that works to fuel individual strategies built using Kryll’s drag and drop interface. As such, demand for the token will likely grow should platform usage increase.

Is KRL secure?

It relies on partners. All assets traded by the platform reside in centralized exchange accounts sponsored by the likes of Coinbase, Binance and FTX.

What are the main benefits of KRL?

• Kryll allows users with limited technical knowledge to design and implement complex automated trading strategies.
•  Kryll is integrated with a series of major centralized exchanges including Binance, Coinbase, and FTX among others.
•  Kryll’s proprietary trading terminal allows users to execute complex, multi-leg trades from their existing exchange account.

What do critics say about KRL?

That it’s risky. According to Instaswap, inherent digital asset volatility undermines automated trading strategies.