Summary
In November 2023, Tradao was awarded a grant of 100,000 ARB by GMX to enhance GMX V2 through our advanced data analytics and comprehensive toolset. Throughout the grant period, we not only generated over $68M in trading volume, facilitated 1,600 transactions, and brought in 139 new trading addresses to GMX, but we also succeeded in attracting over 6,900 addresses to use Tradao for monitoring and following traders.
During this time, we completed the development of groundbreaking features for GMX, including the first permissionless copy trading platform, backtesting capabilities, grid trading, and a copy trading bot. Additionally, the launch of the Tradao copy trading contest marked a period of significant user growth and an increase in the number of transactions on GMX, powered by Tradao’s innovative solutions.
Key Number
Off-chain Data
- 12000 MAU, this MAU data came from Google Analytics(GA), Here is our GA sceenshot
6941 unique addresses using “Follow” to follow traders on Tradao. Here is the Galxe credential and some follow status of top traders on Tradao
Galxe Credential: Galxe
Tradao Profile: Tradao-Best Web3 Derivatives Portfolio Tracker
Onchain Data
Since we passed the grant, we have contributed more than $68M in Trading Volume, 1600 transactions, and 88 new referral addresses to GMX. There are 2 different codes to count those metric. They are “Tradao” and “Tradaox”.
Check Code on GMX Referral: GMX Referrals
Code of Tradao: It’s the old code we used before our copy trading function live without any incentive.
Time: 1 December to 20 March
Trading volume: $39,785,248
Traded: 732
New Address: 18
Code of Tradaox: It’s the new code we created in January.
Time: 1 Jan to 20 March
Trading volume: $29,141,148
Traded: 880
New Address: 121
Milestone & Result
td {white-space:nowrap;border:1px solid #dee0e3;font-size:10pt;font-style:normal;font-weight:normal;vertical-align:middle;word-break:normal;word-wrap:normal;}Milestone | Details | Amount | Status |
---|---|---|---|
Copy-Trading | Beginners-friendly. Follow, copy, automate, and earn by copying the trades from GMX top traders based on their real-time PnL. | 20k $ARB | Done |
Backtesting | Users will be able to do backtesting by setting the parameter with the GMX’s trader performance | 10k $ARB | Done |
Copy-Trading TG Bot | Allow users to do copy-trading via telegram bot with AA wallet | 10k $ARB | Done |
Grid Trading Bot | Allow trader to set up grid trading strategy on GMXv2 | 10k $ARB | Done |
Audit | Engage a reputable audit firm to ensure safety | 20k $ARB | Done |
Trading Competition | Campaigns for user engagement and rewards | 30k $ARB | Ongoing |
Milestone 1: Audit - Done
Audit Report: publications/audit_reports/PeckShield-Audit-Report-Tradao-v1.0.pdf at master · peckshield/publications · GitHub
Milestone 2: Copy-trading - Done
Milestone 3: Backtesting - Done
Milestone 4: Copy Trading TG bot - Done
Milestone 5: Grid Trading Bot - Done
Milestone 6: Copy Trading Competition - Ongoing(6 Mar to 24 Mar)