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Soon — Reimburse your spending w/ crypto gains, powered by OpenAI
Backed by Y Combinator, Soon uses OpenAI to reimburse your daily spending with crypto gains. Soon is simple, stress-free, and fully automates portfolio selection, money transfers, buying, selling, and taxes. Soon can produce strong returns in any market.
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@michael_shattuck @abylund What makes Soon different from other automated crypto investing tools?
@dnyanesh_gangamwar that's a great question. With other automated tools you usually still need to decide which assets to invest in. For new users that's a complicated, time-consuming process. Other tools also generally require significant manual configuration and ongoing maintenance. That is tedious and tends to draw people into speculative, emotional behaviors. With Soon, there is no need to configure your account, although we do have the option for users that want to try fine-tuning their experience.
We've discovered that by making the entire process non-speculative and simple, our users tend to have a better experience and more consistent/more profitable returns.
@dnyanesh_gangamwar IMO, Soon does a few unique things better than anyone else.
• Automated Selling: Soon uses OpenAI + anonymized crowdsource spending activity to automate the amount of crypto to sell, how often to sell, and the times of day to sell
• Personalized Automation: beyond simply setting required gain thresholds, Soon can use your own personal spending activity to fuel our Automated Selling, so your gains reimburse your costs; spend $10 on tacos, Soon will look to sell $10 of crypto at a profit
• Curated Portfolio: many investors buy the cryptos they know, which are often highly correlated. On the other end are highly speculative, overly volatile cryptos that often lacking substance. Soon's portfolio is constructed with lower-correlation cryptos, helping facilitate a "good buy" & "good sell" on any given day
• Tax Stash: Soon can set aside a portion of your gains for capital gains. It also can rebalance your portfolio via the Tax Stash by performing tax loss harvesting
@abylund @dnyanesh_gangamwar That's an excellent question! Soon is focused on making investing as simple and passive as possible. Our platform automates all aspects of investing, such as picking a portfolio, buying the assets, selling the assets, re-investment, and setting aside for taxes.
Congrats on the launch of Soon! Can't wait to see the amazing crypto returns it produces for users. #SoonAI #YCombinator
@usamaejaz thank you so much! We are also excited to help people grow their wealth and make a contribution to improving their lifestyle in the near-term.
@usamaejaz Thank you! This is something we're passionate about, and we're excited to announce the launch!
@usamaejaz Thanks! We love seeing it too! Especially when we hear the stories of what people gains are going toward. It's really fun hearing we're helping people pay for college, go on a 2nd honeymoon, or upgrade their gaming PC!
Hi this looks really interesting! Unfortunately only available in the US?
Can't I just transfer crypto to the app?
Also, why link it to daily spends? Me buying a loaf of bread surely isn't the best "sell" signal out there.
Is it possible to use it as a trading bot by providing funds and letting it trade, reinvesting profits?
@matthieu_baillarge we are available in the US first and plan to expand eventually to other regions. Gotta start somewhere!
You can't transfer crypto into the app yet, but we plan to add that feature in the future.
There are multiple reasons we link to daily spend. One reason is because it allows you to exit positions without needing to track the market...so no speculating. Our customers love it!
Another reason is because we have actually found out that it really is a good sell signal. Even though some transactions may be smaller, and the amount you earn may be small, some will be larger and over time by consistently selling gains when you spend, it adds up and from our data the returns are strong.
As far as using it as a trading bot, Soon does have the option to manually configure your own trading criteria.
We hope you'll give it a try and tell us what you think!
Congrats on the launch, the fully automated crypto investing system is not only convenient but also takes away the stress and complicated setup that often comes with crypto investing. I love how Soon incorporates the principles of dollar-cost averaging, diversification, and non-prediction, providing a responsible and efficient investment approach. Just love it. Good luck 🙌
@officialexaking you get it! I really appreciate your thoughtful comment. It's true, investing in crypto is really stressful! It's also really complicated and technical, which is why 80% of Americans have never invested in crypto. Our customers love that they don't need to decide what to buy, when to buy and when to sell. It's all super easy and non-emotional and our customers love it.
@officialexaking I'm glad you like it! As you're using the app, we welcome any feedback.
@officialexaking Thanks for the positive feedback! We've tried incorporating as many industry best-practices as possible. Hopefully we can help people avoid the big losses they see on other speculative platforms, and provide a responsible, intuitive means of producing sustained crypto gains
@fedoskin Thank you for the question! Currently, we're using AI to create a tailored liquidation trigger plan based on your deposit amount and spending habits. This helps us determine the optimal times and frequency to check for investment gains, and when gains are available, we'll liquidate up to the planned amount, making the proceeds accessible to you as cash.
We're also exploring additional ways to leverage AI, such as delivering personalized financial education, goal setting/tracking, and further personalization of the investment portfolio. Our aim is to harness the power of AI to make investing simpler and more effective for our users.
@fedoskin Soon uses OpenAI, combined with anonymized crowdsource spending activity, to determine the following:
• how much crypto to sell at a time
• when to attempt to sell
• how often to attempt to sell
Soon can also personalize the AI by training it on your personal spending activity
OpenAI has been used in other areas, and will continue to be offered as options in more areas of our app
@mandy_stock thanks! That's a great question. We have a feature that we call "Tax Stash". Basically in the onboarding we'll ask a couple of questions to determine what your capital gains tax % is, then when you take any gains with Soon, we automatically set aside a portion of your earnings into your Tax Stash. It stays there until it's time to pay your taxes at the beginning of the year. We also provide you with the information you need to file your taxes. It's all automated!
@mandy_stock This is something Soon automates as well. Soon automatically sets a portion of your gains aside in a separate account (called the Tax Stash). Those funds can then be used to help cover capital gains tax. During onboarding, you'll be able to configure how much to set aside.
@mandy_stock Tax Stash works just like it sounds; for any gains you get, we set aside the portion we'd anticipate would go to Taxes, and Stash it for later. When tax day arrives, you've got a big pot of cash waiting for it
@emily_guenther We're excited too! We chose "Soon" because it resonates with the personal and emotional connection people have with their finances. People often say things like, "I'll start saving soon" or "I'll go on that trip soon." Our mission is to build a platform that accelerates these goals and, hopefully, makes them more attainable. "Soon" embodies the idea of bringing financial aspirations closer to reality through our innovative approach to investing
@emily_guenther great question! Soon is all about bringing value in the near-term. It's designed to put more money in your bank to give you more financial choice. Not 5, 10 or 30 years in the future, but more like...now. Everyone has things they want to do or buy, we are working to help you live your life the way you want Soon.
@emily_guenther @michael_shattuck one additional motivation behind the name is that our investment strategy produces returns over a shorter timeframe, instead of holding & hoping your crypto goes to the moon
e.g. you get gains "soon"
@matcha_anil Thank you so much for your kind words! We're thrilled to bring the power of Web3 and AI together. We'd also love your feedback when you get a chance to try the app. We truly appreciate your support! 🚀🌐
@matcha_anil it's been fun playing with it. We have a few features enabled right now but there is a lot more we can enhance in the future.
@matcha_anil Thanks Anil! The possibilities are endless when you pair AI w/ Web3. We're really excited to see how much of more can be revolutionized in the space
@anna_fee Thank you! We're glad you can relate to it. We set out to make investing easier and more accessible. Feel free to reach out if you have any questions or feedback!
@anna_fee Thanks Anna! Taxes are one of the scariest concepts for new crypto investors. Thus far we've been overwhelmed by how much our users appreciate Tax Stash, and the peace of mind it brings knowing you've got what you need come tax day
Grats on the launch! What banks are currently accepted? Open to Canadians or U.S. only for now?
@saasdesigner Thank you for the support! We're currently launching in the U.S. We're actively exploring expansion into other markets, and Canada is definitely on the radar.
@banjo_de_iyowun thank you! It's been a labor of love and it's exciting to see our product helping people to grow their wealth and accomplish life goals faster.
@banjo_de_iyowun that sounds like a startup's dream! Are these grants? Happy to learn more of course.
@abylund It's no grants. We're launching a subscription exchange, where early-stage founders can list their startups so customers can buy and sell their subscriptions either during or after the Initial Subscription Offering (ISO) of the startup companies. Think of doing an IPO on Nasdaq, but instead of shares, it's subscriptions. The only cost is a refundable listing fee and a small % of the ISO proceed. I'd love to share more but at the same time, I don't want to sound like a used car dealer.
Congratulations on the launch of Soon! I'm excited to see how it changes how we use crypto gains to reimburse our daily spending.
@abylund I love this app. This is such a great use. Also love how you currently use OpenAI and your plans for the future @michael_shattuck
Thanks @leo_wendler! We have spoken to many people who feel the same way and we're excited to help the next generation of crypto investors get involved.
@abylund @leo_wendler Thank you for your positive feedback! Our goal is to continue enhancing the user experience and making investing more accessible. As you're using the app feel free to share any feedback with us!
@leo_wendler the possibilities of OpenAI in our platform are endless! What a robust tool. We're very glad to have OpenAI with us on this, and we can't wait to roll out more ways for AI to augment investing
@ira_m_cassidy_ira it's been a long journey so we are very happy to be serving customers.
@ira_m_cassidy_ira Thanks! We always welcome the feedback, especially when it's positive!
Congrats on the launch, Aaron! Super cool to see you're YC backed. The best part of this product is the 12% average returns on investment positions ... in a down market! I was DOWN 15% in '22 lol. Great product and good luck with the launch.
@jakecasas thanks! We made Soon for guys like you so hopefully you can get some growth even if the market is dropping. Please share your feedback with us when you get a chance to try the app!
@jakecasas Thank you for the support! We're excited to bring this to the market!
@jakecasas It is funny how that works; the same price can be a loss for some, while for others it's a great day to buy! Soon's strategy of consistently purchasing small amounts, while consistently taking the gains when they're available (e.g. not waiting for that one, big 'perfect' cash out day) is crafted to avoid the pain and heartache of those down market losses
The product looks very promising, congrats on the launch! Couple of questions. 1. What kind of trading algorithm are you using? Does it go short to USDC when the market is going down? 2. Can you provide a chart with historic returns? @abylund
@abylund @vladimir_vashnev Thank you for your interest in Soon! We actually don't rely on a traditional trading algorithm to predict market movements or make decisions on going short. Instead, Soon uses a unique, automated cash flow investing strategy that combines several investment principles, including dollar-cost averaging and portfolio diversification. We then use liquidation triggers, such as your own spending activity, to check if you have available gains. If you do, Soon sells your highest gains to cover the transaction. This enables you to take advantage of short-term volatility. During the beta, our users saw 12% returns on liquidated investment positions. We ran the beta from June to December last year.
If you have any more questions or need further clarification, don't hesitate to reach out. We're here to help!
Thanks @inna_zaluzhna! It honestly really is. Soon purchases around 150 individual investment positions per month, and tracks each one of them for you. You'd have to be a full-time day trader to do the work Soon is managing for you!
@inna_zaluzhna That was the goal, and we're excited that it's working! We wanted to make it as simple and easy to use as possible.
@inna_zaluzhna Thanks for the positive feedback! Hopefully we can make it easy enough that the least tech-savvy retail investor can build wealth without devoting 40+ hours a week to it
Soon