Copin Analyzer Monthly Recap #4: July 2024 Edition
Copin Analyzer Monthly Recap #4: July 2024 Edition
Welcome back to read the next installment in our monthly recap series from Copin Analyzer for July!
Hi Copin Fams, another month has passed. How has it been for you?
For Copin, we've had a month full of updates and changes. Each day has brought challenges that the Copin team needed to tackle as quickly as possible. Beyond just upgrades, Copin aims to make the product increasingly user-friendly based on feedback from our users.
In this article, we will summarize the updates and changes that Copin has made over the past month. Additionally, we will highlight the community activities that have been organized. Let's review the achievements and upcoming plans together!
TL; DR
Numbers:
$46M in copy trading volume.
$39M total copy trading volume on Copin DCP Synthetix V2.
$301K total copy trading volume on Copin DCP gTrade.
250 NFTs minted.
Product Features added this month:
Indexed additional perpetual exchange YFX.
Enabled copy trading from 5 perpetual DEXs: Equation, HMX, CyberDEX, DexToro, Vela.
Added the "Skip Lower Size Position" feature
Developed Copytrade through Gains (DCP)
Built Decentralized Copy-Trading Fee Rebates program
Prepared for the Decentralized Copy-Trading Competition event next month
Released dune statistics: Dune Analytics
Community Activities:
$15.4M unlocked in Copin's first exclusive Copy Trading event
Supported the Base Vietnamese Community meetup
Received 4,940.50 $OP for Retro Funding 4: Onchain Builder
Passed gTrade "Copin GCGP Decentralized Copy-trading on gTrade v8" with 5.8M $GNS voted by holders
Things to expect in the next few weeks:
Develop copy trading from Level Exchange
Maintain and update data from integrated exchanges
Release DCP (gTrade Exchanges)
Prepare for the Decentralized Copy-Trading Competition
A. Product Updates
1. Trader Analyzer
YFX - One of the leading perpetual DEXs, has shown impressive development. They have recently launched their V4 on Arbitrum, attracting more users each day. Naturally, we couldn't miss the opportunity to index YFX data on Copin this month.
2. Copy Trading
Copin's hybrid copy trading has been well-received, as evidenced by the impressive numbers from our users. We continuously enhance our trader data, providing Copin users with a wide array of choices. This past month, Copin enabled copy trading from 5 additional perpetual DEXs:
Arbitrum: Equation; CyberDEX; HMX
Optimism: DexToro; Vela
With data from 17,968 traders active on these five exchanges, the opportunities for copy trading are more abundant than ever.
Skipping positions based on specific conditions is one of the valuable features Copin users have suggested during their experience with copy trading. In addition to leverage and collateral, the "skip lower size position" feature has been recently added. This advanced feature aims to mitigate risks when the trading behavior of the trader you're copying undergoes unusual changes in trade volume, potentially affecting your copy trading performance.
3. Decentralized Copy-trading Protocol
A long-awaited feature for web3 users: Decentralized Copy-trading (on gTrade Exchange).
This initiative has garnered recognition and anticipation not only from the Copin community but also from $GNS holders, who have unanimously approved the proposal to develop DCP through gTrade Exchange. In just the past month, DCP has been in internal testing, and the first transactions have already been executed.
Dune: https://dune.com/copin/copin-dcp-gtrade
As part of the ideas proposed for Copin's Decentralized Copy-Trading Protocol, Copin is developing and internally testing a fee rebates program and a copy trading contest. This aims to provide users with the most convenient experience of the Decentralized Copy-Trading Protocol.
Built Decentralized Copy-Trading Fee Rebates program
Prepared for the Decentralized Copy-Trading Competition event next month
B. Community
1. Onchain Copy-trading Competition
This is the first time Copin has organized a direct event without using a third-party platform. Here are some notable metrics:
Unlock reward level of $10M is $2K.
34 users participated after meeting the qualification criteria.
$15.2M volume generated.
This is the first season, limited to just two exchanges for results. It will serve as a foundation for improvements in upcoming seasons, with more updates and attractive rewards.
2. Retro Funding 4: Onchain Builder
Chosen by the badge holders of Optimism, Copin.io once again receives community recognition for its contributions to the Optimism ecosystem and its partners on the chain, such as Synthetix, Kwenta, Avantis, Polynomial, and Pyth Network.
Copin has been granted 4,940.50 OP this time. This recognition and support are tremendous encouragements for Copin Analyzer to continue making more contributions to the community and ecosystem.
https://retrolist.app/project/0x8fa98773f72474172c2fe75fb7ad3ae2274edd1bc1635b77dd175259dbfde5bd
3. Copin GCGP Decentralized Copy-trading on gTrade
This activity was voted on by $GNS holders for ecosystem development proposals. It is truly wonderful that Copin's first proposal received more than $5.8M GNS. Notably, 100% of the votes were [FOR]. Copin is genuinely grateful for the trust that $GNS holders are placing in us.
This proposal is already being implemented, and you can read more in these bi-reports: https://gov.gains.trade/t/copin-io-gcgp-bridge-grant-bi-weekly-report-week-2/81
There has already been some initial traction, and soon the DCP on gTrade will be publicly available to users.
4. Support Base Community Meetup: Danang
This meetup was co-organized by Base Vietnam and SqrDao. Copin participated as a media partner and assisted Base Vietnam in setting up and introducing the event. Here, it was not only an opportunity to connect with potential builders but also a chance for Copin users living and working in Da Nang to meet and exchange ideas with some members of the Copin team.
In addition to our current activities, there are several events for Copin users to participate in and receive substantial prizes from Copin's centralized exchange partners, including:
These are all the updates from Copin for the past month of July. Thank you everyone for taking the time to read through this information. See you next month with more updates. Love you all, Copin Analyzer Fam!!!
About Copin Analyzer
Copin Analyzer is a platform designed for the mass adoption of the perpetual DEX narrative. It enables users to explore, analyze, and copy on-chain traders from the top of Perpetual DEXes including GMX, Synthetix, etc.