Onomy Mirror Proposal (Social Trading)

Onomy Mirror Proposal (Social Trading)

1. General Description:

Onomy Mirror is a Social Trading system integrated within the Onomy platform that allows users to follow professional traders and automatically copy their trades. Through Onomy Mirror, copiers can replicate the strategies of successful traders without needing to be experts in the market. The platform is based on simplicity, security, and access to an active investment community.


2. Key Features:

2.1. Professional Trader Profile: Traders can create a profile displaying their performance and strategy:

  • Performance: Traders can showcase their performance history, with clear metrics on their success (e.g., monthly return, annual return, drawdown, etc.).
  • Strategy: Traders can describe their approach and trading strategy, helping copiers choose who to follow based on their interests.

2.2. Automatic Portfolio Copying: Users can follow selected traders and automatically copy their trades:

  • Proportional Copying: Copiers can adjust the amount they want to copy according to their capital.
  • Automatic Rebalancing: If the trader adjusts their portfolio, the copier’s positions will automatically adjust without manual intervention.
  • Automatic Diversification: Copiers can diversify their portfolio by copying multiple traders at once, each with their own strategy.

2.3. Rewards for Copying Strategies: Onomy Mirror will still offer rewards for both traders and copiers:

  • Copying Fees: Traders will receive a small percentage of the profits generated by the copiers (e.g., 1% of the profits generated by copiers).
  • Success Bonuses: High-performance traders will receive additional bonuses, motivating long-term consistency and success.
  • Incentives for Long-Term Copiers: Copiers who maintain their investments for a long period could receive additional rewards in the form of NOM or ORES tokens.

2.4. Educating the Community and Tips: Onomy Mirror not only allows copying trades but also promotes financial education within the community and rewards active participation:

  • Strategy Analysis: Users will be able to view detailed analyses of traders’ strategies and learn why certain investment decisions were made.
  • Educational Resources: Onomy will offer webinars, tutorials, and courses on investment strategies, led by successful traders.
  • Forums and Community: Copiers will be able to interact in forums to discuss strategies and share knowledge with other community members.

Use of Tips: Users will have the option to tip other community members as a reward for sharing valuable content, such as:

  • Trading Strategies: Traders who post their strategies or market analysis.
  • Educational Content: Users who share educational resources, tutorials, or helpful tips.
  • Copyable Traders: Traders who allow themselves to be copied will receive tips directly from their followers as recognition of their performance or support.

Tips will be an additional way to encourage collaboration and knowledge sharing within the platform, incentivizing members to participate actively and improving the overall community experience.

2.5. Profit Sharing and NOM Buy-and-Burn:

  • Profit Sharing for Traders: A small percentage (e.g., 1%) of the gains made by copiers will be allocated to the copied trader as a reward for their strategy and performance.
  • Buy and Burn NOM: A small percentage (e.g., 0.5%) of the profits will be allocated to the purchase and burn of NOM tokens, helping to reduce the token supply and potentially increase its value.

2.6. Security and Risk Control: Onomy Mirror will implement mechanisms to protect both traders and copiers:

  • Risk Limits: Users will be able to set automatic risk limits (e.g., stop losses) to protect their investments.
  • Investment Insurance: Onomy could offer an investment insurance system for copiers in case of extreme losses, funded with a small percentage of transaction fees.
  • Trader Verification: Traders will have to go through a verification process to ensure transparency and trust in their strategies.

3. Benefits of Onomy Mirror:

3.1. Access to Professional Strategies: Users can easily access the strategies of successful traders without having to be experts in trading.

3.2. Automatic Diversification: Onomy Mirror allows copiers to automatically diversify their portfolio by copying multiple traders with different approaches.

3.3. Community Rewards: Both traders and copiers will benefit from a reward system that encourages active participation, long-term success, and loyalty.

3.4. Simplicity and Ease of Use: Users can invest in the market simply by replicating the trades of professional traders without managing each individual trade.


4. Proposed Implementation:

Phase 1:

  • Launch of Onomy Mirror with professional trader profiles and the basic automatic trade copying feature.

Phase 2:

  • Introduction of bonuses and rewards for copiers and high-performance traders.

Phase 3:

  • Implementation of ongoing education and resources for users interested in learning more about the strategies used by successful traders.

Phase 4:

  • Expansion with additional security mechanisms and investment insurance options for copiers.

5. Conclusion:

Onomy Mirror is a Social Trading proposal that allows users to copy the strategies of professional traders automatically and easily. It still provides a robust investment platform with rewards, education, and security. The system is designed to democratize access to advanced strategies, fostering active participation and offering rewards for both traders and copiers.

With Onomy Mirror, Onomy positions itself as an accessible platform for any investor within the Cosmos ecosystem, enabling collective and secure growth.