Judy_Host of EncryptClub：The first idea struck me when I saw Aluna.Social is that i can FINALLY integrate tradings on Tradingview. As a semi-professional trader, I find Aluna.Social easy-to-use the moment i saw it. By integrating tradings from different exchanges, Aluna allows us to manage assets without shifting from one platform to another. What’s more, there are much communicating contents on Aluna’s homepage, providing us with a platform to communicate with crypto OGs instead of subscribing professional trader’s views on Tradingview. Compared with the chat room on gate.io, it is more convenient to express our views in the post model on Aluna. All in all, you’d better try Aluna.Social by yourself.
Today we are honored to have Cofounder & CEO of Aluna.Social Alvin to share more details about Aluna with us.
Welcome to EncryptClub, Alvin. Could you give us a self introduction?
Alvin: Hello everyone, thank you for inviting me and it’s a pleasure to be with the EncryptClub community today.
My name is Alvin Lee, and I am the co-founder of Aluna, which is a gamified social trading terminal for cryptocurrency traders.
My background is in Digital Marketing; I have a BBA from the National University of Singapore, and an MA in Media & Business.
I’ve been trading Crypto since 2013, and I started out writing a blog about crypto trading that has seen over 1M views (https://alunacrypto.blogspot.com). I’m also quite deeply involved on Crypto-Twitter and have about 60K+ followers on Twitter (https://twitter.com/onemanatatime).
Thanks for your introduction. Here comes the first question of our AMA.
Q1: Where does the idea of Aluna.Social come from? Could you tell us what social trading is and the core competitive advantages of Aluna.Social?
Alvin:There is a lack of Trust & Transparency on social media networks and crypto trading communities. Anyone could say things like “Bitcoin is going to $100,000 this year”, but it’s hard to know if he actually puts his money where his mouth is.
Furthermore, with the constant noise on social media and the overwhelming flood of information, it is especially difficult for newcomers to know who and what to trust, and to learn and become better traders.
Aluna aims to solve these problems that we ourselves faced when we started to trade crypto, and Aluna.Social is the tool and guide that we wish we had when we first started learning about and trading crypto.
Social Trading is a mix between “financial trading” and “social sharing”. In a social trading network, users share information about the market and learn from each other to become better traders. Some platforms also provide “copy-trading” which allows more casual investors to automatically “copy” or “mirror” a professional trader’s actions.
Core competitive advantages:
1) Transparent social environment for crypto traders to leverage the wisdom of crowds
2) Non-custodial — we are not an exchange or brokerage — we do not hold your funds at any point in time
3) Last but not least, we have a live working product. Aluna is the first-to-market social trading terminal with complete transparency, copy trading, and gamification and rewards.
Come try our Beta for free at https://aluna.social/! You can connect up to 5 exchanges currently: BitMEX, Bitfinex, Binance, Poloniex and Bittrex.
Q2：Aluna.Social is sort of a speech decentralized sharing platform, what is Aluna token’s governance model on this half-decentralized trading and decentralized sharing platform?
Alvin: Up to 50% of the revenue from the Aluna.Social platform goes to reward profitable traders, community members who stake ALN, and to the community-owned Treasury.
Community can take part in governance by staking tokens in the governance contract, to vote on certain matters such as:
*ALN Protocol parameters (e.g. Burn x% of tokens)
*Usage of treasury (e.g. Distribute y% to ALN stakers, or provide reward/grant to develop new products for the Aluna ecosystem)
We aim to transition for a centrally-governed project to one that is 100% decentralized, community-owned, and self-governed, over the next 3–5 years.
Q3：What is the current development process, community and partner status of Aluna.Social? Can we trade ALN now? What is your development plan in future?
Alvin: We have been working on the Aluna.Social platform for 2+ years, it is currently live in Beta. Feel free to have a look and sign up at: https://aluna.social/ .
Last year, we raised US$1M from our Seed Equity round and the Private Token Sale, with 100x Group (holding company of BitMEX) as the lead investor.
We are currently holding our public sale with www.daomaker.com. Just today, the GATE.IO round successfully completed and was oversubscribed by 54X, with over 10% of the circulating $DAO tokens staked & locked up to acquire the ALN allocation. https://www.gate.io/cn/startup/63
Details about ALN exchange listing will be released sometime next week.
We currently have on the Aluna.Social trading platform:
*15,000 registered users,
*$5M of crypto assets connected via API
Some of our partners include:
*100x Group (Holding company of BitMEX)
*Genesis Block Ventures
Development plans in future:
CEX integrations on Aluna.Social, e.g. Binance Futures, FTX, Bybit
Copy-Trading for BitMEX
ALN listing on CEX & DEX
ALN Liquidity Mining
Aluna.Social public release + PRO Subscription plans
DEX integrations in Aluna.Social e.g. Uniswap
Strategy Automation via TradingView
ALN Staking & Holder Benefits
DeFi social trading
Web3 prediction games
Open-source exchange library
Q4：How will Aluna manage traders who display their performance on the Leaderboard? How to ensure these performance are completely true?
Alvin:Ideally, users will be able to filter traders on the leaderboard based on their a) Performance, b) Consistency, and c) Risk — so that they can choose the most suitable traders to follow, learn from, and automatically copy.
Today, you can see the Performance, their Win Rate, and the Total Number of Trades made. We will add more data in the next improvements, such as the “Reward-Risk Ratio”, “average duration of position”, and etc.
If you go deeper to view each of the positions, you can see the Exchange it was traded on, the time and price it was opened and closed, and you can also visualize it on the chart. See this example here: https://aluna.social/paranoid/positions/60244b356520e0b3ef66f734
Currently Aluna is the central point of verification of the integrity of the trading performance data. Since this data comes directly from the exchange API, it cannot be faked by the user.
We are exploring different options to place this trading performance data on the blockchain for complete transparency and 100% immutability.
Q5：Does Aluna has option or futures sector? Has Aluna.Social considered adding derivatives functionality as other exchanges do?
Alvin: BitMEX Derivatives integration is already available on our platform. Currently you can add your BitMEX exchange API key to Aluna, then you can view your orders and open positions.
Soon we will release COPY-TRADING for BitMEX, which is currently available only for Bitfinex.
We also want to enable Binance Futures as soon as possible.
First step is to build a solid base for integration and social and copy trading for all the top crypto exchanges in the world, and once that is done, we will explore other sectors such as adding Options Trading.
Judy: Here comes free QA session, guest can choose 1–2 lucky questions to give a brief reply.
User1: How to attract high-profile traders to Aluna.Social?
Alvin: We have a few incentive mechanisms in place.
1) Airdrops — currently ongoing at
https://aluna.social/aidrop — where the more volume a user trade on the eligible exchanges — the more ALN tokens he will earn.
2) When monthly subscriptions go live, a part of all the fees will be shared with the best performing leader traders.
3) Referral fees
User2: What is the fee if a trader wants to copy other’s trading? Do you have requirement on professional traders?
Alvin: Currently in Beta all is Free.
When subscription fees start, there will be 3 tiers and look something like that:
1) PRO Plan — Copy-trade up to $250 per trade
2) NINJA Plan — Copy-trade up to $1000 per trade
3) ALUNAUT Plan — Copy-trade unlimited
For professional traders there are also other benefits of paying for a subscription plan, such as using Automation features.
They will also earn a share of the platform fees if they are profitable that month.
Judy_host of EncryptClub: Thank Alvin for joining our AMA and sharing so much valuable information with us. Thank you all for watching this AMA. EncryptClub will work hard and bring more wonderful content for you in future.