Copy trading is a method of trading where a crypto enthusiast follows an experienced trader or analyst to reproduce his/her style of trading. Some services make it possible to copy trade through API in a fully automated manner.
Bringing top-tier copy trading practices to Binance: What is Tycoon?
Launched in 2021 by a team of seasoned crypto engineers, Tycoon (TYC) service is offering a new-gen copy-trading experience. All users can copy the style of top-notch traders (“tycoons” on the platform) to make their market activity more balanced and confident.
With Tycoon’s API toolkit, copy traders should keep their applications open to emulate the portfolios of “tycoons.” The protocol works even if the user is offline.
Tycoon (TYC) should be integrated into Binance’s account of crypto holders through secure and attack-resistant instruments. Tycoon accounts can just copy the trades of “tycoons” or set additional stop-losses and take-profits. Thus, every available strategy can be adjusted in accordance with the ongoing market situation.
The Tycoon ecosystem is built around TYC cryptocurrency, which is its core native asset and utility token.
Trader of the Month competition goes live, 200,000 TYC up for grabs every month
Every month, Tycoon copy-trading service launches a Trader of the Month Competition. It is an open tournament for traders with various levels of expertise.
The tournament is set to reward the most passionate influencers and the luckiest traders: the top three winners with the highest profit/loss ratio and top three influencers with the highest number of followers will share the 200,000 TYC prize pool.
The first distribution took place on March 1, 2022. Also, to raise awareness among cryptocurrency community members, Tycoon protocol airdrops TYC tokens to every trader who follows at least one “tycoon” in the application.
To sum up, Tycoon promotes itself as a time-saving resource-efficient alternative to the API-based copy-trading services of previous generations. Besides building a high-performance crypto exchange module, Tycoon creates a reliable easy-to-use social trading dashboard.
Every trader can upgrade his/her understanding of markets just by following the influencer-tycoons on Tycoon platform.