Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Zignaly, on April 26th at 12.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Bart R. Bordallo, CoFounder & CEO of Zignaly. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Zignaly to our community in layman’s term?
Ans — We think that everybody should be able to have investment opportunities, regardless of their starting capital or their place of birth. Zignaly is a social investment platform that provides investment opportunities to everybody. Having this in mind, and knowing that not everybody is a crypto guru or skilled trader, we have built a platform easy to use, with the goal of not having to spend too much time on it once you have started.
Q2. What are the advantages of Zignaly to other alternatives in the Blockchain field?
Ans — Because of the simplicity that we have in mind, we have been improving the platform, first with signals' providers, then copy-trading, and then profit-sharing a service the you won’t find out there. With this service users can have a system of passive income that really is passive.
Q3. What are the major milestones Zignaly achieved so far & what are in the future pipeline?
Ans — There have been great milestones so far, as the launching of copy-trading and profit-sharing, then reaching $1B in total volume trade, integrations with exchanges like Binance, BitMEX and Ascendex, but there is one that I’m specially proud of. A few weeks ago, we reached $1M in shared profits with the users who are using profit-sharing services. This milestone have been achieve in just 4 months.
About what’s is coming,
There are quite a few items in our roadmap that I’m more excited about, which is first an index, which will rebalance your investment between the top-performing services, the second one will be a new view that will summarize your result from profit-sharing services. The deployment of NFT based insurance protocol in Q3 will further strengthen our offerings.
Questions Asked on Twitter For Zignaly Team!
Q1. Zignaly and TradingView can be a great team when it comes to creating buy and sell signals.
What are the use cases or strategies that we can use when combining both platforms in trading bots?
Ans — Yes, we were one of the first crypto trading platforms integrating Alerts from TV. TradingView is an excellent tool that allows you to create alerts based on indicators and options. You can build almost any strategy there and we have several services, different services that work from TradingView. We have several scalping services, but also trend followers. They do short and long, so almost anything that comes to your mind, can be done.
Beside the simple buy or sell alert that you can generate, you can send a lot of parameters with those signals, like different take profits, dcas, stop loss, buy ttl (removing the buy order if it has been filled in 5 minutes for example), and many more.
Q2. Normally in some trading platforms they allow you to copy the strategies of some famous traders, but for a certain% of the profits, will it be like this also in Zignaly? or can we really copy the strategies for free?
Ans — Here are 4 different services in Zignaly, you have the manual trading where you do everything, and then we have the signals providers, where you get buy and sell signals from the providers, but is up to you who to configure the strategy based on these signals. Also you have the copy-trading, where actions from a trader will be replicated into your account. These two servicers can have a monthly cost but there are some of them that are free. The trader decides how much to charge and everything goes to them.
Finally we have the profit-sharing, which works with pooled accounts, so we can guarantee 100% identical results for all the participants. This service works with a success fee, the trader specifies the percentage of success fee, and from there Zignaly also take 5%.
Q3. You mention that with the general plan we have access to all the tools, but also in I read on your website that there are traders that can charge something extra. Can you explain this a little bit, on what occasions can the traders charge me something extra?
Ans — You can use the trading terminal for free, if what you want is to trade by yourself, or you also can connect TradingView or you algo-bot/script to our API. This doesn’t have any cost. But if you want to enjoy the services from the traders in our marketplace, most of them have a monthly fee (signals’ providers and copy-traders) or a success-fee (profit-sharing).
Q4. Zignaly has an insurance offered but can you elaborate more about this insurance? How will this insurance become essentialand important be to traders of Zignaly? What are the coverage of this insurance in your platform?
Ans — We expect to have the first MVP in the Q3 of this year. The formulas that we are using and the approach is provisionary, so please take into consideration that it may change.
There is gonna be an insurance pool, which will be funded from third different sources: Zignaly revenue, insurance premium and sponsors. The pool will be divided in portions, and each portion will be represented by an NFT (I’ll explain later why a NFT). Users can acquire as many NFTs as they want but the number of total NFT that can be activated during the month is limited by the insurance pool number of portions. The reason why you may want to acquire NFTs at the beginning is because the price and coverage of the NFT can grow, but if you already have your NFT, you will receive the coverage update without needing to pay the new price (additionally NFTs give you other advantages, that again I’ll explain later :) ). So you have your NFTs, and you assign them to one particular service that is covered by the insurance. The service will have a Maximum Drawdown metric, if at the end of the month, your balance allocated to that service is below that metric, the insurance will be triggered and you will receive the value of the NFT in your account, covering your losses.
The reason why we are using NFTs is because each portion will be unique, a gamification mechanism will be introduced that will allow you to collect and combine different NFTs for unlocking extra benefits.
Q5. Is it possible to connect Zignaly to my preferred signal providers and trade automatically even while I sleep? Is this model compatible with any exchange you are currently partnered with? How is the integration of your project with the CEXs or DEXs done?
Ans — Exactly, that’s the purpose of Zignaly, to automate everything, so you can keep trading even when you sleep.
Each service normally works with one exchange or a few of them, you will find this in the description.
If we don’t have your favorite signal’s providers in our marketplace you always can put us in contact with them and we’ll be happy to onboard them.
Regarding CEX we have several ones integrated (Binance, Ascendex, BitMEX, KuCoin), and we are looking into DEX space, waiting for have good liquidity and good tools for traders.
Questions Asked by our BlockTalks Community Members during live Session to Zignaly Team!!
Q1. What is your plan for global expansion? At present, which market does Zignaly focus on, or is it focused on building and growing to gain customers, users and partners?
Ans — We have a global market in mind, but recently, thanks to the partnerships that we got with our investors, we are gonna push some regions. We are currently adding more people to the team, so we can support them in their native languages. Soon the system will have several translations.
Q2. You mentioned that ZIGNALY will change the way crypto investments work. Can you explain about it? Do you have unique feature or framework for investment at ZIGNALY?
Ans — So, right now there are a lot of opportunities, not only trading, farming, stacking, cryptos related to stocks from public companies... but it’s quite difficult to be aware of everything.
We want to have in the platform the best professional in each sector, and offer this products to the retail investors, when they think about allocating some investment in crypto options, they’ll think on Zignaly.
Q3. Do you have a head office and all you guys working together?
Ans — This is kind of funny, we were remote, way before the COVID, with people all around the world, Indonesia, Vietnam, Pakistan, France, Spain, Canada...
But recently 2 of the co-founders are in the same country/city and some teammembers too, so maybe we think about opening a head office here.
Q4. I understand that Zignaly has great strategies developed by the best traders, but if I really want to trade with personal strategies, will Zignaly really make my job easier? or is it dedicated to those who need strategies from others?
Ans — You can automatize your entire strategy inside Zignaly and then go to sleep and forget about it. You can do it manually, with your scripts or TradingView, whatever you like most.
And then if you have a good strategy, you can put your service in the marketplace and maximize your returns with the more than $100M in AUM that we have.
Here are some important links of Zignaly 👇
🌎 Website: https://zignaly.com/
📱 Twitter: https://twitter.com/zignaly
📢 Telegram: http://t.me/ZignalyHQ
🎮 Discord: https://discord.gg/r5qRXDJ