Project DeXe Provides Crypto Traders with DeFi Copy Trading

A new entrant into the crypto copy trading market, DeXe Network offers what it calls the “world’s first” decentralised social trading platform.

Copying the deals of successful traders is an effective way for novices to reduce their effort and risk. While copy trading is not new to the crypto market, where DeXe Network differs is that it operates in the DeFi environment. 

Simplified Copy Trading for the DeFi Ecosystem

In development since 2019, DeXe Network currently offers a standard “wallet-to-wallet copy” for decentralised copying of successful traders, where users follow another trader’s activity automatically. The application enables social trading of any Ethereum wallet addresses.

Announcing the release of its wallet-to-wallet copying feature earlier this year, DeXe said:

Trading in DeFi is a jungle that’s often extremely frustrating, with too many manual steps and complexities. The main mission of the DeXe Network is to simplify much of that into an automatic and transparent way for both traders and followers to increase their DeFi earnings.

Making Decentralised Asset Management a Reality

DeXe’s other main product, which is still in testing phase, is what’s known as DeXe Investments. It involves smart contracts that connect users with a trader in a decentralised way. 

Users can essentially invest their capital with specific traders who then manage those assets on their behalf. The user receives a synthetic token from the trader as collateral – and as the trader increases the value of their traded funds, the value of the user’s token also increases. DeXe Investments is in its final testing stages before being opened to the public. 

DeXe believes it can fill a market gap for decentralised capital management:

The necessity of such a secure and decentralised money management tool is undeniable. DeXe provides an opportunity for any user to invest safely in a decentralised environment, controlling risks and finances using just his/her wallet.

DeXe Network operates on DAO (decentralised autonomous organisation) principles and is designed to ensure users maintain control of all financial transactions in their personal wallets, with no third-party interference.

While DeFi social trading may be expanding, digital exchanges such as Binance continue to break records for trading volume. Many traders are also making profits through DeFi bot arbitrage trading, according to research on the Ethereum blockchain.