Autonio Migrates to Elrond! The Token & Smart Contracts for the NIOX Automated DeFi Tools Will Be Deployed on our Mainnet

Beniamin Mincu
·
Sep 10, 2020
·
3 min read
https://autonio.foundation

We’re excited to announce that the Autonio Foundation will be migrating the token and smart contracts for their NIOX suite on the Elrond blockchain! Autonio is building a decentralized suite of automated trading tools for empowering the DeFi community.

The long term collaboration will seek to migrate existing Autonio components on Elrond and further explore building additional tools that leverage our high throughput and inexpensive network to enable Autonio’s mission.

“Autonio is setting the right example for the blockchain ecosystem. They are capitalizing on an important moment in DeFi history by migrating their tools on Elrond, thus removing any performance & cost obstacles for their users.” said Beniamin Mincu, Elrond CEO.

Immediate goals:

  • NIOX token bridge: ERC20 <-> ESDT
  • Elrond blockchain added to NIOX Maker
  • NIOX DAO smart contracts deployed on Elrond

Mid & long-term goals:

  • Bridge NIOX staking contracts on Ethereum & Elrond
  • NIOX Marketplace Smart Contracts deployed on Elrond
  • NIOX Maker v2.0 powered by Elrond

The Autonio Foundation is a community-driven organization focused on algorithmic trading, building the fundamental toolset to empower the DeFi community. Their NIOX Suite currently includes a decentralized exchange, a trading terminal, a market maker, DAO tools and decentralized AI.

“The migration to Elrond will bring an immediate boost in performance and significant cost optimizations. The additional features such as 30% royalties, upgradeable smart contracts and smart accounts open up a whole new array of possibilities for our products, which we are excited to explore.” said Ali Raheman, Autonio Founder.

The collaboration is important for the Elrond ecosystem because it gives EGLD token holders access to a powerful set of automated DeFi tools. Furthermore, the move consolidates a trend of blockchain projects looking to drive more value for their services by migrating to the high throughput and inexpensive Elrond mainnet.

About Elrond

Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

About Autonio Foundation

The Autonio Foundation is a decentralized autonomous organization with the vision to build a prosperous community around algorithmic trading. To achieve this, Autonio has introduced NIOX Suite that contains NIOX Terminal, NIOX Maker, NIOX Smartdex, NIOX DAO, NIOX AI (work in process).

Autonio's toolkit is making it easier for crypto traders to conduct trading analysis, deploy trading algorithms, exchange crypto currencies, sell their strategies and pool funds for trading purposes. These tools and services provide an infrastructure that enables developers to build and users to employ powerful auto trading tools to navigate the DeFi ecosystem with security, profitability and ease.

Autonio Foundation is a member of the Decentralized Artificial Intelligence Alliance and partnered with SingularityNET all aligned by the core values of Prosperism, the philosophy that is fueling the development of all of their trading infrastructure.

Autonio Foundation
The first decentralized crypto trading bot, Autonio offers world-class trading automation for users of all levels of experience.

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Written by
Beniamin Mincu
CEO, Elrond Network