Speaker : Max ( Mercor Finance CEO)
Date : Tuesday, September 28th 2021
THERE IS 3 SESSION FOR AMA
2. QUESTION FROM TWTITTER
3. FREE ASKING
SESSION 1 ( INTRODUCTION )
Hello Max Welcome to IDCRYPTO community, we are glad to be with you here.
Hi guys, great to be here!
thank you for coming to this AMA sir, we are also happy to be with you here.
Sure thing, I’ll first introduce myself followed by the Mercor platform.
Of course, before we start to the first session, please introduce yourself first.
I’m Max, the CEO of Mercor Finance. I have been active in the crypto space since 2016. For the past 16 months our team has been working on Mercor Finance. We are based out of Amsterdam, The Netherlands.
Mercor Finance is an ambitious project focusing on providing its users with the instruments to develop and the possibility to invest in what is known as the black box of trading, algorithmic trading.
On the one hand, we supply developers with analytical tools, back testing capabilities, and exclusive data – in order to create the best trading algorithms. On the other hand, we make investing in algorithmic trading publicly accessible, by reducing entry barriers. We do this in a fully decentralized platform.
Nice, thank you for introducing yourself and Mercor Finance. We are glad to know you sir, Let’s start to the first session.
Q1. Can you please describe Mercor Finance for our members who are unfamiliar?
In continuation of what was just mentioned, we are a BSC focused project but will be looking to integrate into other chains in the near future.
For new traders, Mercor offers an intuitive approach to algorithmic trading. Traders are capable of seeing live and historical performances of various advanced algorithms and invest in them within a few clicks. For seasoned traders Mercor offers the opportunity to create their own trading algorithm with advanced tools such as exclusive datasets, machine learning packages and backtesting tools.
For an average developer setting up an environment, acquiring datasets and connecting to a broker can be very complex and expensive. On the Mercor platform we offer all these tools and let developers focus on what matters most, improving their algorithms. Some examples of how this looks.
this looks pretty good sir, Really detailed explanation, thank you for answering in full sir, Next question.
Q2. Can you tell us something about the team and their experience?
Sure thing! The core team exists out of 12 members. Of which three come from the Algorithmic trading industry. Our CTO and two Quant experts, who were working at a Tier 1 investment fund before joining the Mercor team.
The whole team was heavily invested in Algorithmic trading and therefore we know all the hassles that come about when trying to invest via algorithms.
This is when we decided to create our own platform bringing a solution to all of these problems.
Impressive, from the problems that often arise you are eager to bring solutions.
Q3. Can you tell us about your competitors and your differences?
Absolutely, so we are actually the first and only decentralized algorithmic copy trading platform.
There are some competitors in the centralized space, we however have a clear focus on developers. We have a clear overview of this target group as we did an enclosed alpha testing phase with around 100 developers in Europe. We know how to target the developers and we are offering them a clear opportunity to create revenue.
Our competitors are Metatrader, Alpaca, amongst a few others. However, we offer a clear difference in the possibility to create advanced AI based algorithms in Python.
Furthermore, our in-platform UI and our API offer starting and more advanced developers to use our platform. Our strength here is that we are truly offering something unique. Something that is relevant in bull and bear markets.
Perfect, thanks you for the answer i hope our community understand with your explanation.
Q4. Can you tell the community about tokenomics, token utility and TGE?
As far as tokenomics:
There are 100m MRCR tokens. Circulating supply is around 40m tokens, which can be tracked on CoinMarketCap.Current MCAP allows for huge growth potential especially if we look at similar companies/competitors.
Our token is the backbone of the platform. In order to gain access to the platform users need to stake MRCR tokens. Depending on the amount staked different tiers including different benefits will be available. Think about allocation sizes per algorithm or the number of algorithms you can invest in.
Sounds good, thanks you for share this knowledge about tokenomics, Next question.
Q5. Can you list 1-3 killer features of your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Great question! We have many features that we are proud of, however features that make us truly unique are:
- Fully decentralized copy trading
- Python based development console with AI / Machine learning support.
- Our UI/UX
Thanks you for your answer.
Q6. Can you tell something about the problems Mercor tries to solve?
Very important question, and the main reason we started to develop this platform is due to several problems.
The answer however is quite extensive. We can define the current problem in two areas. Problems for Developers and problems for Investors.
Let’s start with the problems for developers.
In general, as a developer if you want to create an advanced trading algorithm you are faced with certain problems:
1. Availability of tools and computational power.
2. Affordability. Current platforms are expensive and therefore highly dependent on personal capital.
3. Data exclusivity. Acquiring the best data sets in order to train your algorithms is difficult. This is where institutional investors have an unfair advantage.
When we look at the other side of our platform we are looking to offer investors worldwide the possibility to invest in these amazing algorithms.
Current problems for investors:
1. A closed market which makes it hard for investors to find, compare and backtest algorithms.
2. Costly again.
3. High entry barriers, a lot of knowledge of the software is needed in order to understand what you are investing in.
Now we get to our solution:
Mercor Finance. We have a different approach in which we allow developers and investors to access this platform solely by staking MRCR tokens.
From there on developers get access to a Python based development console or to the Mercor API. From which they are able to create and backtest multiple advanced algorithms. After which they can deploy their algorithms.
Investors on the other side can have a look at these algorithms and invest into them. When they are making profit, the developer is earning a fee.
Therefore, we motivate the developer to create effective algorithms and we offer the opportunity to create a passive income from their algorithms.
Very detailed answer, it’s really the solution investors and developers were hoping for.
Let’s continue with the question about partnership, because this is very important for every platform.
Q7. Could you tell us something about partnerships?
So far, we have partnered up with:
- GD10, a leading blockchain-venture capitalist.
- Modefi, a leading decentralized aggregated oracle.
- Blockbank, an AI portfolio app.
As we just launched our public beta platform yesterday more interesting partnerships are in the pipeline and will be announced soon.
Even though that’s quite a lot… Cool. can’t wait for the next partnership from Mercor Finance.
Q8. What is currently live and when will the beta be live?
The beta has been live since yesterday (27/09/2021). The response we received to the beta is incredibly positive. An amazing amount of people connected to the platform, plenty algorithms were created and deployed and most importantly, the algorithms proved to be stable and strong, even during rougher times on the market!
The beta version is available to everyone. Head over to app.mercor.finance to check it out and enjoy the algo’s. To invest in algorithms, you will need to acquire $MRCR tokens. They are obviously available on Bitmart, and we’re also listed on Pancakeswap. After you got your $MRCR tokens, you can stake them and start investing in algo’s. It’s a very easy process as we like to focus on the ease-of-use of our platform. We are launching the full platform and the end of the year.
With some of Mercor Finance’s features and benefits, we can’t wait to see how it rolls out.
SESSION 2 ( QUESTION FROM TWTITTER )
Q1. Can you tell us the motivation and benefits for investors to hold $MRCR token in a long term investment and What plans do you have to help drive demand and scarcity for the token?
Great question. In general the main utility for the token is to gain access to state-of-the-art algorithms on app.mercor.finance.
The higher tiers Gold and Platinum will also earn staking rewards.
The more users the platform accumulates the scarcer the token becomes in term increasing its value.
Furthermore we implemented a token burn when unstaking which creates a deflationary aspect to the token. Further decreasing supply.
Here’s a token that has obvious utility… Good enough to keep on eye.
Q2. How can I learn about building a MerCor trading algorithm and investing in your platform? Do you need special skills for this?
We tried to keep the platform as simple as possible, allowing you to create a simple strategy on TradingView and connecting it to the Mercor platform.
We are soon releasing more videos to further guide our users. For now the best way to understand the platform is to go to docs.mercor.finance
As an investor it is extremely simple, just connect your metamask wallet to app.mercor.finance, stake your MRCR tokens and invest your BNB in algorithms of choice.
The explanation in the video is indeed very easy to understand, we must be waiting for the video sir, Next question.
Q3. Is there any plan for mercor to make it own lending protocol? Is it good to know that if project have it own lending, and im curious too is it a project for long term or short term? Thanks
Not in the short term no, this must be thought out well and is currently not our focus.
Q4. Whilst allowing users to create their own trading algorithms is an exciting feature, it could be a double edge sword for those who use them, is Mercor vetting or checking the viability of algorithms created on the platform?
We are vetting and checking all ‘Premium algorithms’.
In order for an algorithm to be marked as ‘premium’ it has to meet the following standards:
- Created by a well-known hedge fund or development entity
- Proven live trackrecord (1+ year(s))
- Proven backtest results (2+ years)
- Proven efficiency in different market conditions
- Vetted and approved by the Mercor team.
Premium algorithms will only be available to Gold and Platinum tier investors. Furthermore, newly released premium algorithms will be deployed according to an IAO (Initial Algorithm Offering), offering Platinum tiers the opportunity to invest followed by the Gold tier.
Normal algorithms are not actively vetted and of course as with all trading profit is never guaranteed.
Nice, you explained in detail, I hope @Greyhair_08 comes along and knows your answer. Thank you sir, Okay last question for this session.
Q5. Where can I buy your tokens right now? what is the procedure for that?
guys, for those of you who are interested in buying the tokens, you can buy them on the two exchanges.
SESSION 3 ( FREE ASKING )
Q) Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Definitely, the token burn can be found here.
Mercor has a program called “Mercor Academy”, which is intended for algoritmic trading education. Is this program open and accessible for everyone? Who can participate in this learning program? Also, can you tell us what to learn during this program?
Correct, great point. We will soon open this program and yes it will be available to everyone!
Many new projects are risky and subject to smart contracts bugs and vulnerability . Can you assure us What steps has been taken for safety of your platform and have you done any Audit? #AMA?
We have performed audits, by rdauditors.
What is the biggest challenge you face currently in terms of becoming a successful project?
Acquiring a great userbase – however, this is going great at the moment.
What is the value of commissions offered by the algorithmic exchange platform Mercor Finance to trading users and how much is the minimum investment?
Minimum investment is 0.1 BNB – investments are dependent on your tier which can be found here.
Q) How many people are currently working on developing the protocol? How many more do you plan to attract people?
12 and growing quickly!
What is $MERCOR’s goal for the future,?
And can you name the vision of #MERCOR ,?
Mercor’s goal is to democratize and decentralize the algorithmic trading market. Becoming the best and most accessible algorithmic trading platform.
Are the provided trading bots and algorithm by Mercor will suit various risk tolerance and appetite of different style of trading like swing, day, position and scalping trading? Do you offer multiple options/choices for your trading bot and algorithms?
Developers are free to create as advanced trading algorithms as possible, using AI and machine learning – we do not limit the developers.
What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Multichain, Multi token pair algorithms, Increased userbase.
As most projects struggle in fundraising, can you tell us a little more than soft cap reached? How far are you right now and are many discussions ongoing?
Fully funded at the beginning of the year – hardcap reached.
MORE DETAIL ABOUT Mercor Finance