2018 was a wild year for Heleum.
- Our users made over 720,000 trades, totaling nearly $28 million in trade volume.
- We transitioned from Version 1 to Version 2 of our algorithm.
- We tried equity crowdfunding on SeedInvest in April, short of our $250,000 goal (so it got refunded to those potential investors)
- Then we successfully raised $120,000 on WeFunder in July, surpassing our $100,000 goal in less than 60 days!
That’s the rosy picture.
The Caterpillar Year: 2018
As we all experienced first-hand, the cryptocurrency market crash that started in December 2017 was devastating for most crypto portfolios. Heleum’s app performance was unfortunately no exception. After trying multiple iterations of Version 1 and Version 2, despite adding stop losses, backtesting our strategies in simulation, and negotiating lower conversion fees, Heleum balloons were like a caterpillar, constantly crawling on the ground with losing trades. Unlike during the 2017 crypto bubble, they just wouldn’t float.
The Chrysalis Year: 2019
We’re ready to turn this caterpillar into a butterfly, so we are now forming a chrysalis. As a result of the losses, we have decided to pause trades until we develop a trading strategy with live trading data showing consistent profitability. We don’t want any users to risk any more losses on their funds until we can prove through trading history that our system can avoid losses. Since trading and onboarding will be paused, we’ll be able to focus more time on development. Heleum is staying in business and we will never give up on our commitment to seeing profits for our users. Here are the four most exciting additions to Heleum we’ll be working on during this quiet period:
- Many users and fans reached out to help us and guided us to crypto businesses who were very successful last year. We have formed partnerships with some of them to help fix the flaws in our systems, but it will take some time for us to link our services to theirs so we can finally start the long process of recovering from our losses. To do so, we plan to connect our app to full-service cryptocurrency exchanges like Kraken, Bittrex, Coinbase Pro, and Poloniex. These exchanges offer lower trading fees, additional coins, and some offer features like order book data, volume data, tick data, short trades, and leveraged trades. With this new trading environment, Heleum will be able to make profitable trades more consistently and work with successful hedge funds and day traders with long track records of success.
- In order to move funds between exchanges and maintain security and user privacy, without requiring our users to create new accounts on those exchanges, we plan to seek SEC approval to operate as a licensed robo-advisor (an Internet-only Registered Investment Advisor). This would permit Heleum to actually manage user funds like never before and choose various professional investment partners and trading strategies. In addition, it would make Heleum a fiduciary, meaning that Heleum will be legally required to invest in the ways that will benefit the user the most, especially by avoiding downside risk as much as possible. This means only trading on systems and exchanges with the lowest fees, the best security, and using the safest strategies.
- Since November of 2017, going on a year and a half, Heleum has only had a web application. Over the course of 2019, we plan to re-design our app from the ground up as both a web app and a native mobile app on both Android and iOS. We know we’ve mentioned this for a while, and we’re excited that it’s finally time to make Heleum easier to access from any device. Of course this won’t be completed until after we have completed our first two initiatives to re-launch Heleum’s automated trading service.
- In addition to the features mentioned above, Heleum is excited to announce our intention to use blockchain technology to permanently record and publish all our trades and account balances in real-time without revealing any user’s personal information. This will allow us to fulfill our commitment to transparency and allow non-Heleum users to track our performance and progress and even subscribe to or copy our trades without having to join our service. It will also give people a chance to “test drive” Heleum before putting real funds in.
We expect these changes to take between six to twelve months, though it may be longer or shorter. During this time, the Heleum app will stay online, but trading will be paused and we’ll charge no fees. Users will not be able to add more funds, but may withdraw funds at any time. Any funds remaining in Heleum will be rolled over automatically to our Version 3 system once it is ready for launch.
The Butterfly Year: 2020
2018 was a difficult year. 2019 will be a year of reflection and metamorphosis. Our goal for 2020 is to emerge triumphantly from our chrysalis to become the best automated cryptocurrency trading app, ready to make consistent profits whether the market goes up or down. We aim to recover the funds of users who stay with us, grow a new customer base of anyone looking to get involved in automated cryptocurrency investing, and deliver a strong return on investment for our equity investors.
Heleum is just the beginning of our journey. It is the foundation of a whole suite of consumer finance apps that will work together to automate all aspects of your money, to help you grow your money, save your money, and earn more money. We are firm believers in the blockchain and cryptocurrency space. We know that it will revolutionize not just consumer finance, but all forms of data storage and access. We’re not just along for the ride. We’re driving forward, learning from our mistakes, and getting ready to fly.