On June 24, Gate.io announced the launch of its new copy trading version via Twitter. The new version will replace the previously used strategy bot to bring more freedom for copy trading on the platform. Copiers can now join the platform for amazing rewards from the $500,000 prize pool allocated for promotion.
Gate.io is one of the oldest DeFi platforms that has facilitated crypto-to-crypto exchanges since 2013. The exchange’s rebranding in 2017 helped its growth in becoming one of the most sought-after platforms in the crypto space. Gate.io offers several DeFI-related services like Initial Exchange Offering, margin trading, margin lending, etc.
The platform’s recent step expects to establish itself as a pioneer in crypto copy trading. As per recent statements, the cryptocurrency exchange will introduce a new version of the copy trading protocol that would replace its old Strategy Bot. The new version of the copy trading protocol will go live at 4:00 UTC on June 24.
Copy trading is a standard model in trading that allows users to copy the trading strategies of the leader for a better return. The Gate.io Strategy Bot is used to allow copiers to copy the quant strategy of the signaler. This upgraded version will reportedly give users more freedom when choosing the trading strategies.
The new version allows users to operate in both trader and copier capacities. And what’s more, traders will no longer follow the bot or a function but the real traders themselves. The following are the expected enhancements provided by the new copy trading version.
- Multiple algorithm-based calculations
- A clear division of copy trading hierarchy for better assurance
- An upgradable system and framework
- High income from direct strategies from traders
- A whole new outlook for copy trading on Gate.io
Gate.io has announced several events for promotional purposes with an aggregated prize pool of $500,000. The exclusive trader event offers a chance to win up to $400 per head, and the well-performing traders can win the reward between June 24 and July 1. The event for copiers offers up to $100 per head for a share in the $1000 prize pool.
In activity 1, users can register as traders to win $50 per copier if they perform well. The maximum limit for the reward is $400. Activity 2 is referrals that offer $50 per person when they use the copy trading product for the first time.
The exchange has created a copy trading communication group to join and discuss any issues related to the new feature. More mystery rewards and benefits from the copy trading version will be unveiled gradually through the Telegram group.