According to the FNDZ whitepaper, studies suggest that approximately 75% of traders make their investment decisions based on advice from family and friends. Living during these Web 3.0 times where more and more platforms are allowing the individual to conduct their personal affairs in an anonymous manner and take control of every aspect of their own financial assets, it only makes sense that the wisdom of the crowd begins to challenge the idea of taking advice from a traditional financial advisor or single, centralized entity.
Studies show that more than two-thirds of the trading that happens on platforms like eToro happens via users copying trades from other users, that they can make 30% more by following the information provided by social trading platforms, and that such social trading platforms outperform traditional hedge funds consistently.
With so much tangible value found in copying the successful trades of others, FNDZ is setting itself up to make a big impact on the DeFi space.
How social traders can start using the FNDZ platform
As with all crypto projects, FNDZ is a blockchain-based platform. It enables anyone to benefit from social trading without having to monitor the crypto market 24 hours a day, seven days a week. It’s really simple to use. Users can start copy trading in only 3 minutes – i) connect digital wallet to the FNDZ platform; ii) deposit funds into their favorite trader’s vault; iii) withdraw funds at any time – never locked for more than 24 hours.
The whole point of this approach is to make it easy for both beginners and experts to benefit from trading. Small-time traders get the opportunity to benefit from the performance of professionals. Professionals get the opportunity to monetize their knowledge by collecting management and performance incentives.
The FNDZ DAO means the project runs on its own
The creation of the FNDZ DAO is in progress at the time of this writing. The DAO will allow the project to ‘run on its own’, so to speak. This means that the FNDZ token acts as the governance mechanism that will allow the community to get involved with the DAO to make decisions about the future of the project.
The ultimate goal is to optimize the copy trading platform for success so that both traders and advisors benefit from the earnings being made.
More on the FNDZ Token
The $FNDZ token lives on Binance Smart Chain. This means users benefit from the lower transaction fees that BSC provides, making it easy to enter and exit the FNDZ ecosystem at your own will. Users can purchase the token on two different central exchanges and one decentralised exchange, including Binance’s top DEX, PancakeSwap.
The tokens themselves are cryptographically secured fungible tokens that carry out governance and utility-related functions specific to the protocol and coding structure of the FNDZ platform. The governance token is designed to be used as an interoperable utility token on the platform.
It’s meant to act as a secure means of settling payments between participants that is non-refundable. It’s not intended to be a medium of exchange between the public outside of the FNDZ ecosystem for goods and services, or any other purpose that isn’t connected directly to the purposes outlined by the issuer.
$FNDZ does provide utility, but it doesn’t in any way promise you dividends, or profits and it isn’t intended to stand as a securities offering in Singapore where the project was born out of or any other jurisdiction for that matter.
With an offering backed by plenty of academic research that proves traders can experience above-average crypto portfolio returns using copy trading, and a mission of striving to further empower those traders, the FNDZ platform is on track for big things in 2022.
