BastionTradingGroup
Summary
Bastion Group is a group engaged in proprietary trading in cryptocurrencies and is led by well experienced traders who moved over from traditional finance including the Twitter handle owner @theskyhopper. We have been in the crypto space since 2017 and we concentrate our trading strategies on mainly on arbitrage, some quant signal trading, and some market making.
We would like to increase our standing and further our credibility with the Truefi community and demonstrate our credibility. We would like to start by requesting TUSD 1,000,000 for a 30 days loan at a rate of 14.5% annualized. We hope we can cultivate a relationship where we can borrow more funds in the future.
About Us / Our Vision
Our trading volume is ranked here at 24th in January under the pseudonym, the Skyhopper. Please check out this Twitter handle as well!
Bastion came together in 2015 trading equities in Asia by a group of traders who recently left their day jobs and realized that there was a decent chance to be successful outside the traditional finance rat-race. After a couple decent years trading, in late 2017, we started to transition to cryptocurrencies after discovering significant discrepancies in prices between exchanges. For example, we found that prices in JPY in Liquid (then Quoine) was at times 8-10% different from US Dollar prices in Bitstamp or Gemini for example.
Those days of such fat margins are over, but there are plenty of opportunities to scalp, and arbitrage. We are excited to see all the opportunities in DeFi whether it is Uniswap, Sushiswap, Aave and many other platforms. We are also excited to see an advent of cover markets for these protocols and also for Cefi protocols as well. With all these tools, we feel more comfortable today to deploy risk capital than three years ago.
We have come a long way in building our equity (we originally funded ourselves with our own money and nearly all of it is still our own equity), and the overall profit ranking in the Bitfinex leaderboard is a testament/evidence of the capital base that we have collectively, which is well over 50 million USD dollars.
Our volumes by no means are the largest in the market, but we can say we are not tiny either. Risk management, as boring or uncool as it sounds as I write this, is a key component of managing our capital. This is an area of knowledge we were able to extract – despite all the odds seemingly against this – from cutting our teeth on the trading floors of some major investment banks and trading houses including those like Optiver, JP Morgan, HSBC, and UBS.
We have solid risk management systems and efficient execution systems as well. Some of which we are even forking our system that can used by the general public
Our plan for the borrowed funds (if approved) is to deploy the capital to enhance our own trading returns, whether it is through deployment in defi, market making, or arbitrage trading.
Interest rate proposal: our proposal reflects a rate we believe is competitive to other unsecured lending protocols such as Celsius (average of in-kind rate and in CEL reward rate is about 14.52%.) Further, we believe in current market conditions a material spread such as +3% to +5% should be paid over say Curve Y pool. With the current Y pool paying an annualized 10% APY (without the CRV reward), we figure that a 14.5% rate would be reasonable using both metrics.
Currently, we see significant opportunity to pay a healthy interest rate that would reward your risk, and we are excited for this opportunity to work with TrueFi and present ourselves to your community.
Bastion Trading Group
Company Linkedin: https://www.linkedin.com/company/bastiontrade
Our Trader’s Twitter: @theskyhopper
Website: www.bastiontrade.com
