Welcome to FNDZ and the new world of DeFi copy trading! FNDZ is now live on the Binance Smart Chain (BSC) mainnet and fully open to the public. Starting today, users can connect to the FNDZ copy trading platform and explore a world of decentralized asset management.
As part of the launch process, we invite you to try out the platform and share your feedback in our Telegram or Discord channel. Most features will be available from the start, with the exception of some advanced trading features. Feedback will be collected until April 30, 2022.
Please note: FNDZ does not have user accounts. Instead, FNDZ connects directly with Web3 wallets like MetaMask. This means you never give up control over your assets or private keys. Only your unique wallet ID has the authority to withdraw your assets from a vault. They are always safely stored in a FNDZ vault governed by a smart contract.
IMPORTANT NOTE ON TRANSACTION FEES: You can edit the BSC Network gas fee in MetaMask by pressing “edit” and choosing a custom gas fee. Note that lower fees have slower transaction times.
How does FNDZ copy trading work?
Copying the trades of cryptocurrency experts is simple. The first step is to make a deposit into a ‘vault’ which is managed by an experienced trader. A vault is essentially a set of smart contracts which contain the digital assets under management by the vault operator. The vault operator executes trades on the assets in their vault, sharing the earnings with contributing individuals.
The smart contracts ensure that users retain control over their assets, giving them the freedom to withdraw their funds to their preferred Web3 wallet.
Which wallets does FNDZ support?
FNDZ supports a variety of Web3-compatible wallets. These include the following software wallets: MetaMask, Wallet Connect, Binance Chain, and Coinbase wallet. FNDZ also supports the following hardware wallets: Trezor and Ledger.
How do I make a deposit?
In the top, right-hand corner of the vault view page is the ‘Deposit’ button. Clicking this will bring up an interface allowing you to choose the amount and type of asset you wish to deposit into the vault. To make a deposit, simply specify the amount and type of asset to be deposited and check the box to indicate agreement with the terms and conditions. Deposits will show up in the vault view under the ‘My Deposits’ heading and can be withdrawn by clicking on the ‘Withdraw’ button.
Is FNDZ secure?
FNDZ’s security is one of our main concerns and it is the reason we maintain high security and quality standards. We’ve introduced a number of systems to ensure users, assets, and the underlying infrastructure remain protected at all times. Individuals deposit assets in a vault, but only their unique wallet ID has the authority to withdraw those funds. They are always safely stored in a FNDZ vault governed by a smart contract. Neither FNDZ nor traders have direct access to your wallet or funds. The importance of audits by credible security organizations should not be underestimated. Our smart contracts are regularly audited and approved by trustworthy auditors before mainnet deployments.
Does FNDZ charge fees for copy trading?
Joining FNDZ is free of charge. Revenue instead flows from a variety of fees. Note that all fees are fully transparent; there are no hidden fees or charges. Fee-based revenues go partly to vault owners and stakers as rewards; partly to FNDZ for the sole purpose of maintaining and upgrading its infrastructure.
Four types of fees may be charged:
Management fee: Vault owners have the option of charging their followers a management fee. Management fees represent rewards for services rendered by vault owners in setting up and operating vaults for others. The management fee is set by vault owners and ranges from 0 - 3%. **The fee is split evenly. Half goes to the vault owner and the other half to the FNDZ DAO.
Performance fee: A performance fee is chargeable on the profits earned by a vault owner. It is not applied in cases of negative performance. Where a vault owner’s strategy has been successful, the performance fee is levied following a crystallization period. This period is by default 90 days but is subject to modification by individual vault owners and can be set to weekly, monthly, or quarterly intervals. The vault owner may set a performance fee ranging from 0 - 30% per vault. The performance fee is split into three parts. One half of the performance fee, or 50%, goes directly to the vault owner. Twenty-five percent go to the FNDZ DAO; the final 25% flows into the FNDZ staking pool.
Referral fee: Vault owners can incentivize users to share a link to their vault. For every new user who makes a deposit into a vault on FNDZ, the referrer will receive a reward in the range of 0.5 - 1% of the total deposit. Any FNDZ user can freely invite their friends via a vault referral link.
Trading fee: There is a small fee payable upon each transaction. It is a maximum of 0.2%, all of which reverts to the FNDZ DAO. The FNDZ DAO does not profit from these fees; rather, these fees are used to improve the platform, through various features such as trader tournaments, or they are used to buy back tokens and then burn them.
How do I withdraw my funds?
Withdrawals work much like deposits and can be carried out at any time by clicking the ‘Withdraw’ button in the top-right hand corner of the vault view page. Clicking this will bring up an interface allowing you to specify the amount you wish to withdraw from the vault. To make a withdrawal, specify the amount in the entry field and click the ‘Withdraw’ button. For each withdrawal, a flat fee is paid by the user to cover the transaction costs of moving their cryptocurrency out of the vault. Withdrawals will show up in your wallet of choice upon completion.
What is an index vault?
FNDZ offers index vaults made up of a selection of cryptocurrencies. These index vaults feature auto-rebalancing strategies for various asset compositions, such as a market cap weighted average; category indexes such as the Top 10 DeFi coins; and the Top Five altcoins tracking a specific market segment. Management fees between 1 - 2% and performance fees between 1 - 10% are charged for index vaults. As index vaults have running costs, fees are first put towards meeting these costs; the remainder reverts directly to the FNDZ DAO.
What is the FNDZ token?
The FNDZ token is a utility token (governance token) which serves a variety of purposes. The goal of introducing the FNDZ token is to provide a convenient and secure mode of payment and settlement between participants who interact on the FNDZ platform. On the FNDZ.io platform, FNDZ tokens are used for advertising, fee settlements, as well as referral and staking bonuses.
User feedback is very important to us at FNDZ as it helps us improve the platform and overall user experience. FNDZ would like to hear from you, so please make sure to provide feedback where you see fit.
FNDZ encourages its users to spread the word to family and friends, trade groups, traders, and anyone else who wants to join the growing community of crypto users around the world.
FNDZ ~ Copytrading made easy!