1. What is Zignaly?
- Zignaly is what I would define as an idea to use social means to provide fair finance to all. Zignaly as a vision and tech is working to provide a chance to connect money managers/pf managers with investors in crypto. To turn this vision into a reality Zignaly has gone through a lot of changes and has evolved into something which can deliver a product and the technology to become the uber of the space but instead of connecting drivers with passengers, it’s connecting investors with money managers.
2. Where is Zignaly now & where is it going?
Zignaly which started off with 3 co-founders Bart, David & Abdul started off as a signal-providing platform. This by 2020 had evolved into a copy-trading platform. But then an inherent fault was found in the copy-trading system. Imagine whales is followed by 10 different people on any copy trading platform. once whales open his position there are 10 different tx happening after it. So if the order book isn’t liquid, follower 1 will have a better result than follower 10. This fundamental issue with the copy trading system is something that always comes between giving fair results to the follower and perhaps one reason why copy trading hasn’t picked up as a norm, but IRL money is never managed by the general public, there are experts doing that. So Zignaly is bringing a marketplace of traders/money managers with transparency of their results and combining it with PAMM (Percentage Allocation Management Module) accounts. This eases the process from the manager to the investor. Everyone gets the same result. Zignaly is calling it ‘Profit Sharing 2.0’.
So the money manager works, the investor pays (on his returns) and everybody earns. Since the ecosystem is such that if the traders don’t show returns, no one in the ecosystem makes money, causing weak traders to stay out of the system. (Zignaly has a stringent trader onboarding process after which it allows a trader to open his service in the marketplace.)
Zignaly is fast moving towards converting itself into a DAO which would take the same technology in a completely decentralized environment. You can trade shitcoins for your followers in a decentralized manner! But we gotta wait on that for now.
Quickfacts about Zignaly:
- Since 2018
- Top brokers for Binance (in their Binance Broker Program)
- almost half a million users
- AUMs around $120 million
- Top 52 brokers out of 200+ had a positive return in the last 180 days
3. What am I Proposing?
Being a member of Grape has its advantages. But the biggest advantage and which I would call Grape’s greatest strength is its community. All are exposed to crypto. The idea is to create a synergy through which Zignaly uses Grape’s forum to onboard users (Traders & Investors both) onto Zignaly and GrapeDAO earns through Zignaly’s referral system. A special referral link will be provided to Grape through which anyone signing up on Zignaly. I propose that Zignaly can share 20% of their success fee and commissions earned through those users with Grape.
This would add a revenue stream for Grape for almost doing nothing and spending 0 dollars. and maybe if the DAO member finds Zignaly to be giving good results, we can discuss using the DAO funds to be invested in the marketplace for passive income.
Other areas of collaboration would be more on doing spaces together on CT, involving Grape in other smaller marketing activities, and vice versa. This would give the DAO & Zignaly recognition among each other’s community and beyond.