Community
Copy Trading Platform (Testnet Competition)
Description
YataDAO is in the process of releasing a Copy Trading platform with dYdX as its primary backend exchange for execution. By using dYdX for trade execution, this new platform will improve trading volumes and user onboarding. The grant will fund the launch of a month long Testnet Competition with USDC prizes rewarded to the best traders. This competition will serve as a marketing and learning tool for both new and existing dYdX users to experiment with copy trading.
Purpose
Copy trading is a popular form of trading for less sophisticated retail users, or retail traders looking for additional trading strategies. We have seen this strategy adopted across several crypto CEXs with success. The grants program is helping fund the Testnet competition as a means of incentivizing both new and existing dYdX users to trail the platform before launch. Once launched, we expect the platform to drive significant volume growth and retail flow to dYdX markets.
Payment structure
$13,000 will be paid to Yata for building the competition, $13,000 will be paid in prizes to the competition winners
