AMA Recap of Dude’s Army x Alphr Finance
On Wednesday, April 21st, Dude’s Army community had the great opportunity to host an AMA with Alphr Finance’s team, very instructive and educational. We will share with you a little bit of what this experience was like.
Glad to have you with us! To start the AMA with a good mood please share a bit of your background and how you started ALPHR
I actually told the story in this article:
The basic summary is i’m a bad trader and I wanted to be able to find the best crypto traders in the world then automatically copy their trades. Initially we were only building this to use personally, then along the path we realized it should be shared.
Understood! Thanks for the article!
So what essentially is ALPHR building and why it guided you in this trading issue?
Alphr is a social trading platform that allows you to automatically copy the trades of any wallet.
How is the platform going to work out? Will it be used to copy DEX or CEX trading?
In V1 only DEX trades as that data is already available and transparent on chain. But its possible we could incorporate CEX copy trading in the future if there is a high demand for that feature from users.
I think there are some other tools to copy trading on CEX but in DEX is the first time I see this and honestly should be really interesting!
What tools will be there on the platform and which tools are you planning to integrate on it?
Its basically a social platform for wallets. So every wallet that has ever traded on Uniswap from V2 onwards already has a social profile generated. But your trades are your posts rather than typical social media platforms. Then anyone can follow any wallet and see recent transactions in their feed to manually copy and anyone deposit into an Automated mirror pool for any wallet to automatically copy transactions. Theres also an explore section like other social platforms that allows you to discover wallets.
Check out the UX here:
I can copy any wallet even though the person does not list their wallet right?
Exactly! this is the key feature that differentiates us from competitors. Also when you start copying that wallet, they start earning Alphr tokens and can come and claim their profile and accrued tokens at any time
If you start copying someone that has a token that you don’t have and he sells it will ALPHR send the sell transaction by mistake as well?
I suppose as well it is made to copy those wallets in % and not in value correct?
If you deposit into an AMT pool, the pool rebalances to the % and proportions of the wallet you’re copying.
Hmm you copy them in everything
It will buy and have the same % of the tokens the other person has correct?
Only trades, we ignore more complex transactions and deposits and withdrawals for now. But yes always the % of each token
In later versions we’ll copy farming, loans etc
Of course! Just gotta make sure this doesn’t happens:
- Wallet receive token deposit
- Sell token
- Try selling token it doesn’t own and waste in gas fees.
How is the development right now? Is it fully ready?
Development is coming along well, we’ll be on testnet Mid May and audited and live by the last few days in May
Great! So talk a bit about ALPHR token! How will it work out in the ecosystem?
The Alphr token is a governance token like many DeFi protocols but the key difference is the Alphr token captures 100% of the protocol revenue,via a burn mechanism. I’ll be posting an article about the token and value accrual at the end of this AMA
Q1 from Yaritza:
I understand that Alphr takes advantage of the existing transparency in Blockchain and DeFi, but if privacy is really established in DeFi (as many projects work on it), then Alphr could not operate? Or could you also explore the tickets even if they are private?
Uniswap V3 is here and tx’s are transparent as they have been on previous chains, this is a feature not a bug, one that likely will always be around
Q2 from ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ:
You mention that users will be able to save a lot on gas fees because automated mirror groups route funds in a single transaction, saving gas fees for users. But then, what exactly is the fee that users have to pay? And what are the purposes for which these fees will be used (how will they be distributed)?
There is a 0.2% tx fee and a 10% performance fee upon withdrawal from AMT pools, charged only on profits. 75% of the fees are used to buy and burn the token and 25% are sent to the community development fund to futher development of the protocol. The development fund is controlled by token holders
Q3 from Isabella Isla:
In your roadmap I found interesting LP mining program in May. Can you tell us more about this LP program and how would it benefit the users? Besides this, do you have any other future plans for Alphr?
Establishing sufficient liquidity for the token is essential to ensure the protocol user rewards are enticing enough to accelerate adoption. The programme begins in the 3rd week of May and will initially be on the $Alphr — ETH pool o Uniswap V3
Q4 from Young-mi:
Being a Decentralized protocol what are the advantages and disadvantages you have if we compare with “Etoro”? Is your solution better than them?
The biggest difference is Etoro requires users to sign up to be copied. Here you can find the best performing traders in the world on chain or by using our explore feature and copy them without them joining the platform, that’s a definate edge and speeds up how useful the product is from day one
Q5 from ⋅ ℝ𝕒𝕚𝕤𝕓𝕖𝕝𝕪𝕤 𓃗 ⋅:
- A feature of ALPHR is that it will be multi-chain on Polkadot, BSC, and Ethereum. But what are the benefits of ALPHT belonging to each of these chains? What function does each chain fulfill? And do you plan to integrate more in the future?
We have some waiting list… but in future we will provide a kind of well established API so other storages will be able to implement it on their side and we will just test it and allow them to be a valuable asset to our ecosystem )
ALL THE STORAGES are welcome for the partnership, just DM me )
Q6 from Amrutha:
You are making crypto trading so much easier. I can now stop searching for wallets and setting up alerts. How do you plan to bring non-crypto native traders to your platform?
Will you have an education module on your platform with a dummy mirror trading option?
Thank you! Yes we will have education videos and will be targeting the coinbase/tiktok type user base once we are more established
Q7 from Vlad:
Does holding the project’s tokens give our users the right to govern in the project’s ecosystem? What can we decide?
Yes, you can decide changes to how the protocol works and how the community development fund is utilized
A follow up question from our discussion… What will be the fees to use Alphr?
0.2% per Tx on manual trading and Auto trading. And a 10% performance fee charged on profits only when you withdraw from the pool. For example if you deposited $1000 and your profit was $100, your performance fee on withdrawal would be $10.
About Alphr Finance
An automated crypto hedge fund. Alphr’s mission is to enable anyone to trade with the ‘alpha’ of the most successful investors in crypto: ‘’Buy when they buy, sell when they sell’’. Alphr uses a system known as AMT (automated mirror trading) to mirror the trades of the most successful wallets based on historical returns.
More information about Alphr Finance: