Thousands of traders have signed up to use the HedgeTrade tokenized social trading app since December of 2019, when we launched our Beta. Six months later, HedgeTrade is now public and we have been listening to our community as we continue to make improvements. One of the top concerns of HedgeTrade users is knowing how to find the best traders to get advice, and also provide traders with optimal visibility in relation to their success on the platform.
We created the HedgeTrade Leaderboard with all of this in mind, so that it’s both easy to navigate and offers the best available insights on the top traders.
So we are very excited to introduce the HedgeTrade Leaderboard. This visual and interactive list features the top traders on HedgeTrade. It’s where the most accurate and successful traders rise to the top so new users can find them and start trading like a pro.
On HedgeTrade, both amateur and pro traders are brought together in a profit-driven and accountability-based social trading ecosystem. Newcomers to crypto trading can feel confident about copying trades that are blockchain verified since each unique prediction Blueprint is powered by a smart contract. Here’s how it works:
Whenever a trader creates a prediction Blueprint, they stake a chosen amount of HEDG tokens to back it up. If they are correct in their prediction, they get their stake back plus the proceeds of the Blueprint sales to the audience (minus a small commission).
These successful predictions also add to their chances of being displayed as one of the best traders situated at the top of the Leaderboard, increasing their exposure. But, if they happen to be wrong about a forecast, the trader loses the stake while users who bought the Blueprint get a refund, with the first 7 buyers splitting the initial stake amongst themselves (minus a small commission).
The Purpose of the Leaderboard: Spotlighting the best traders
Here’s why we developed this Leaderboard for HedgeTrade:
- First, traders must earn a spot on the Leaderboard through their accuracy, activity, and trading knowledge.
- By being featured there, the best traders gain exposure so more value is added to their credibility on HedgeTrade.
- New traders want to buy prediction Blueprints from someone with a high rate of accuracy and earnings. Now, they can easily view the Leaderboard to find the top traders.
- The Leaderboard gives all users an additional way to filter traders to find predictions according to their specific needs.
- As a special way to honor the best traders, the top three are designated with a Gold, Silver, and Bronze winner’s icon, which easily sets them apart at the top of the Leaderboard.
Now that the Leaderboard is live, it’s easy to find the top traders on HedgeTrade.
Leaderboard Eligibility Requirements
To make the Leaderboard, a trader will need to accomplish the following:
- Have created and closed at least 10 published Blueprints, each with a 2% or higher profit potential.
- Traders must stake a minimum of 10 HEDG tokens against their predictions if they want those Blueprints to pass Leaderboard eligibility.
- Published Blueprints that qualify include those that are “Closed Success” or “Closed Failure”.
- A Blueprint showing a “Closed Neutral Status” is not eligible for the 10 Blueprint requirement. This means the Blueprint expired before the entry price was entered.
- Each trader’s HEDG Earned balance must be in the positive. Meaning they must have earned more through the sales of Blueprints than their lost stake total.
Getting to the Top of HedgeTrade’s Leaderboard
One of the most exciting parts of the Leaderboard is that it’s interactive. While the default is set to “1 Month” and “Total %”, users can decide their own criteria in determining who is the best. What does this mean? Well, there are five ways that a user can sort the Leaderboard:
(Note: Eligible Blueprints are those that have “Closed Success” or “Closed Failed”)
- Success Rate – This is determined by calculating “Closed Success” vs. “Closed Failure” Blueprints. Basically, it’s how many times a trader is correct vs. how many times they are wrong.
- Average Profit Potential – Calculated by adding up all the eligible Blueprints and averaging their profit potentials.
- Blueprints Created – Simply the number of eligible Blueprints created. 10 is the requiremetn for Leaderboard status.
- HEDG Earned – How many HEDG tokens has this trader earned from selling their Blueprints? We calculate this as follows: (sum of purchases earned – commission) – (total losses from lost stakes).
A Cut Above our Competition
HedgeTrade’s Leaderboard is vastly different from some of its competitors. For instance, Augur’s Leaderboard shows only realized profits, number of trades, and wallet addresses in a very tech-heavy interface. Another competitor, eToro, allows users to search by most copied traders and top-performing YoY portfolio. The main determining factors for performance are total returns, risk score, and the number of copiers.
On the other hand, HedgeTrade’s Leaderboard is handled differently:
- It creates a more interactive and informative experience. We use metrics that are more specific to traders and their activities in our unique social trading platform.
- It offers a user interface that makes HedgeTrade a dream for both pro traders and complete newbies.
- Unlike any other copy-trading platforms, if traders’ future performance doesn’t replicate the past and underperforms, the users unlocking their predictions always get their money back when the prediction Closes Failed!
The HedgeTrade team is very excited to introduce our Leaderboard feature to our fast-growing base of crypto traders. We’d also like to send out a big Thank You to everyone who has signed up to try out HedgeTrade. It’s been great getting to know our Beta user base and we very much appreciate all the valuable feedback they’ve given us. Most importantly, we look forward to seeing them on the Leaderboard!