Place/Date: - January 3rd, 2022 at 10:57 am UTC · 3 min read
Contact: AscendEX, Source: AscendEX
FNDZ consists of an ecosystem of traders interacting via the FNDZ Platform, and the FNDZ Token is a medium of exchange on the platform. Its goal is to create a transparent and decentralized environment for successful traders and their networks, followers, and supporters. FNDZ utilizes decentralized finance (DeFi) infrastructure to avoid problems on other copy trading platforms, reduce costs, mitigate risks, automate transactions, and provide a transparent fee structure. On DeFi platforms, smart contracts carry out functions, such as settlement and dispute resolution, which would otherwise have fallen to financial intermediaries.
Major objectives of the platform include lowering fraud loss, arbitration and enforcement costs, and other transaction costs. DeFi social trading involves double disintermediation – the role of the financial intermediary is executed by smart contract and that of the financial advisor by the copied traders. It allows traders to allocate capital to more skilled and experienced investors while bypassing unnecessary intermediaries. Practically, this has the effect of lowering barriers to entry, expanding access to the massive market of less experienced and less wealthy investors interested in digital assets.
The FNDZ Platform features profiles of individual traders and their strategies. The profile contains basic information on the individual trader, their trading philosophy, and past performance. Traders have the opportunity to distinguish themselves and their strategies according to parameters such as risk, returns, values, degree of active management, and social or cultural factors. Trader profiles are individually listed and searchable on the FNDZ Platform, and traders have the option of associating their profiles with special-interest categories, such as layer 1 or dapp specific investing or any other type of investing strategy.
AscendEX is excited to partner with the FNDZ platform to promote the growth of the greater DeFi ecosystem.
AscendEX is a global cryptocurrency exchange with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
FNDZ consists of an ecosystem of traders interacting via the FNDZ Platform, and the FNDZ Token is a medium of exchange on the platform. Its goal is to create a transparent and decentralized environment for successful traders and their networks, followers, and supporters.