Despite last years downturn in crypto prices we have continued working hard on our plans to launch and establish a new player in the corporate crypto-space. For us the current market situation is not negative but in fact, a positive development that lets us (& many other great projects) build. There is a saying that probably suits all industries: “Build during the bear market, earn during the bull market.”
Why did we found Autowhale and what problems do we solve?
Obviously there were several reasons and problems but here are the most important ones:
1️⃣ Many tokens suffer from bad liquidity, which therefore causes massive volatility and hence makes it hard for users of e.g. dApps to rely on a token.
2️⃣ A company (especially ones that did ICOs or token sales) in the crypto space sees itself confronted almost every day with offers for dubious exchanges, weird marketing offerings, “advisors”, … . Autowhale — with its years of experience — not only helps its clients by determining which offers are actually serious but also arranges deals for its clients.
3️⃣ We experienced many unrealistic claims of what blockchain can solve — not because of bad intention but because of a lack of knowledge — during the ICO hype in 2017/2018. We therefore help companies identify what is feasible, what might be feasible in the future and what is not possible or makes no sense.
Our journey so far
The first time the idea of Autowhale came up was in 2017. Back then we had not had a product yet but only a concept that we continously improved and refined.
During 2018 we finally started talking to lawyers, banks and tax advisors. We hadn’t had any experience so far with founding a company in the crypto-industry so we had to build our knowledge in that regard from scratch.
While we were clearing up those non-technical questions we have been busy building our backend where the logic and main functionality of our system lies.
Obviously there is a broad variety of different law-firms that we could have consulted, though we wanted to make sure that our legal partner can in fact really help us and guide through some legal questions we had. Ideally we were looking for a company that already has experience with consulting firms of our industry. With these requirements in mind there were only a few companies that qualify.
It was not that easy to identify an experienced partner with all the requirements we had in mind. Brandl & Talos (btp.at) turned out to be one of the most established law-firms in that respect. What also became clear from our talks with them was that a lot of things are still “gray-area” but that is probably the situation in all legislations.
The most difficult thing was probably finding a bank that really suits our needs. We wanted to make sure that we open up a bank account with an Austrian bank so we reached out to almost all banks registered in Austria.
To make a long story short, we ended up with a big bank in Austria which finally was very cooperative and met us on an equal footing.
Finding a tax advisor was suprisingly easy and worked out pretty quickly. We got a recommendation for a well-established tax advising firm that has many different branches in Europe and Austria. We found ourselves well advised at TPA (tpa-group.at).
Our website autowhale.net was launched in Q4 2018 and finally, after loads of work we successfully incorporated Autowhale GmbH in January 2019. We are looking forward to an exciting future on our journey! 🥂
❤️ Core values
Be on the same level
We want our business relationship to be based on an equal footing and to find the solution that best meets our client’s needs. We won’t push you in a certain direction.
It is your choice and we are here for assisting and consulting you as good as we can!
Transparency is easy to say but hard to define. For us, there is a clear need for being transparent with our clients but also internally.
Practically that means that we are doing our best to give you information of trades, activity and data of your products as accurately as it is possible for us.
We know that in our industry many deals are overcharged and business practises are not always as straight-forward as one would like them to be.
Therefore we want to bring some positive movement into the space by having fair pricing and being clear with the process of how we do business.
Introduction to our Services
Below you find a detailed explanation on what we are offering our clients and some insights on how those services work. Also visit https://www.autowhale.net/Products/ for more information.
Market Making comes from traditional financial markets and describes an entity that helps keeping markets of an asset healthy. Meaning, providing liquidity for buying and selling that asset. This is vital because as a buyer of a token you want to purchase an asset (close to) the last price that was traded. In technical terms a market makers job is described as keeping the spread in the order book of an asset as tight as possible.
Autowhale offers exactly that for its clients. The aim of doing that is — besides creating an immediate effect of being a more attractive market to trade on — to enable markets to grow organically by attracting more buyers and sellers who then themselves provide more liquidity.
Please note: Autowhale does neither gurantee profits nor does Autowhale make profit with this service. This service only an IT service provided to our client.
Networking & Consulting
We can assist you with your blockchain needs. This may be consultation on tokenomics, which smart contract platform to choose, marketing, etc.
In addition to that we love to connect to people! So no matter which services you are looking for we will make sure that you get a fair deal that fits your expectations.
Chain analysis tool
With blockchain comes transparency. Practically that means everyone can see when a transfer from A to B happened (unless there are some privacy enhancing technologies used). So for instance your token runs on the Ethereum blockchain (which is currently the only chain that is integrated) and you want to make use of our chain analysis service.
What we offer you is to 24/7 monitor your token’s activity and notify you whenever there is a transaction that exceeds a certain threshold that you specified. We do also recognize with our system if such a transaction’s destination is an exchange. Since we can assume that people only transfer assets to an exchange if they want to sell it, we know with a ceratin probability that there will come more selling pressure to your tokens market. We then check for you by how many % that transaction would decrease the buy liquidity and offer you to dynamically decide whether you want to place a buy order to prevent such an event through our iOS or Android apps.
Please note: The iOS and Android app is still under development. Stay tuned on when they are ready.
We are very happy to already support at such an early stage a broad variety of exchanges including:
Binance, Bittrex, Poloniex, KuCoin, HitBTC, Bitfinex, Huobi, OkEX, Kraken and WEX.
So what’s coming this year and what are the plans for the future?
For the near-term future we plan to release the first version of our web-frontend — the Autowhale Terminal — where we enable our clients to transparently monitor our software’s activity and have insights into other details of their products. During the year we are going to add more features to the Autowhale Terminal.
In addition to that we are eyeing for a mobile app for both iOS and Android that on the one hand acts like the Terminal but on the other hand also enables our clients to receive notifications in conjunction with our chain analysis & price stability tool.
If you are interested in additional features, software solutions or have some suggestions on how to improve our services let us know!
Apart from those exiciting technical updates & releases we are always looking for new partners, developers and other opportunities that may arise. Feel free to reach out to us (please find our contact information below).
What’s coming on the blog? Besides regular updates on product launches and updates, this blog will also share some insights to our work, the industry, our clients and partners. But more of that in the future!
To sum up, we feel ready for getting started with your business and learned a lot from the founding process.
Thanks for taking the time to read our inital blog post and we are looking forward to getting in touch with you!
📫 For business inquires feel free to reach out to: firstname.lastname@example.org
📫 For any other questions drop us a messege at: email@example.com
Disclaimer: None of the above shall be considered investment/financial advice or advice on trading techniques, models, algorithms, or any other schemes.