spot_img

True P&L: A Social Crypto Trading Platform

True P&L (also True PNL) ($PNL) is a publicly rated social cryptocurrency trading platform. Founded to tackle the issue of the lack of transparency on copy trading platforms, True PNL obtains live data from trader’s accounts to allow for easy and accurate verification of their performance in real-time. This allows for easier trading and sharing of strategies and analyses, leading to more accessible cryptocurrency trading for all experience levels.

true p&l
True PNL’s  Partners and Incubators. (Image Credit: True PNL)

1.   Background

Created by a team deeply passionate about fintech projects and crypto space, True PNL encourages users to publicly share their trading performance, which then allows for the pairing of the most profitable traders with investors. Unlike other copy trading platforms, True P&L offers ease of trading for traders of all levels, with an added social component. Traders can share their strategies and technical analysis with the community, and collaborate with other traders and investors transparently.

True PNL’s team consists of leaders who have had significant experience in managing IT and blockchain development. With an additional total of 20 years of experience in project management and finance, the team has an advantage in project development, continuing to follow innovations in the financial sector and adapting new trends to their vision. True PNL’s private raise was oversubscribed by 20X. Among their backers are Blocksync Ventures, AU21, Lotus Capital, and Gate.io.

The team has also recently partnered with OKEx, a global digital asset exchange that provides financial services around the world. This integration will provide True PNL’s Robo-trading users with a better and more reliable copy-trading service.

2.   How True P&L works

TruePnL creates advanced trading bots which follow technical-analysis trading logic, test their past performance, tune parameters regarding the current market conditions, and fully control its execution.

Currently, True PNL’s automatic trading system consists of three parts:

  1. Signal generator: This involves price tracking software, information processing in the defined way to generate signals, and a signal sender. There are many solutions for that, starting from simple Python scripts ending with profound ML+TA analysis systems. True PNL utilizes a market-proven and reliable signal generation platform from TradingView.
  2. Risk management: This is about trading the position that will not bankrupt you and let you fight another day. We provide a simple but rigid system, allowing users to control the amount of each trade, so the risks stay under control. Stop-losses and take-profits are being controlled by the signal generator.
  3. Execution: Execution is the second crucial part of our trading system. The execution aims to make strategies as much profitable as on backtests. This is about commissions, slippage, limit/market orders, and many other very small but hugely important things.

To connect to a bot, traders can visit https://truepnl.com/trading and choose a bot to connect through the API keys. Once the bot is linked to the trader’s exchange account, they can start trading immediately.

The bots are equipped with reliable signals through TradingView, proper risk management (using stop-loss and take-profit), and profitable order execution through commissions and low slippage.

On True PNL, users can follow traders with a successful trading history over a long period. This is possible through asset management APIs; once a trader registers on the platform, they connect their exchange to the PNL platform through read-only API keys.

3.   PNL Tokens ($PNL)

$PNL tokens can be used as means of payment in the collateral commission pool, allowing users to receive significant discounts while trading. $PNL is an Ethereum based ERC 20 type of token with a supply of almost 10 million in circulation and a maximum of 100 million.

26.4% will be offered for sale to users in phases. $PNL tokens will be divided into several distribution categories, each of which is intended for different purposes and groups of investors. For each category, there is a daily Vesting Schedule, transparently and securely hardwired into the Smart Contract of $PNL token.

Uses of $PNL tokens

The uses of $PNL tokens can be divided into two groups: on-chain and off-chain.

Off-Chain benefits:

  • Payment: $PNL can be used as a means of payment in the collateral payment pool and allows users to receive discounts.
  • Staking: Feature of staking $PNL include lending and farming of PNL tokens, fee reduction, TruePNL prime subscription (free access to basic products)
  • Impact Mining: The more value the users of the TrueP&L platform receive, the more rewards will be paid to the contributors for trading competitions, algos hackathons, and portfolio creating challenges

On-chain:

True PNL protocol is going to be built on Web 3.0 utilizing Polkadot substrate. $PNL token is planned to be used in:

  • Fee reduction for De-fi products utilizing TrueP&L protocol,
  • Liquidity Staking in DeFi products,
  • Impact mining (Rewards to users for contribution to the TrueP&L platform),
  • Collateral investing in DeFi portfolio.

$PNL tokenomics:

The tokens will be distributed in the following manner:

  • Team: tokens for the True P&L team, vesting cliff — 12 months, then 2.7% per month.
  • Marketing: tokens for marketing activities, competitions, etc. — 3% per month.
  • Advisors: tokens for project advisors — 8.33% per month.
  • Seed/Strategic/Private: tokens for private sales and influencers — 10% of tokens will be unlocked on the TGE day, then 1% will be unlocked daily for 40 days after the TGE, then 7.5% per month.
  • Public sale: tokens for IDO — 100% unlock immediately at TGE.
  • Foundation: tokens for the strategic product development, vesting cliff — 12 months, then 5% per month.
  • Staking: reward tokens for users who stake $PNL tokens — 4.17% per month.
$PNL allocation
$PNL allocation. (Image Credit: True PNL)

$PNL vesting schedule
$PNL Vesting Schedule. (Image Credit: True PNL)

4.   Conclusion

True PNL is a platform that stands out in the current landscape due to its mission of bringing transparency to the trading process. By allowing both traders and investors to easily review others’ performances, they are then able to make informed decisions regarding their cryptocurrency investments. The addition of $PNL also breaks the hurdles and norms of equity capital raising procedures, thus simplifying the procedure. It facilitates an all-round ecosystem where ideas are exchanged.

The information provided in this article is intended for general guidance and information purposes only. Contents of this article are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur. 
Disclosure: Authors are invested in cryptocurrency projects and have cryptocurrency holdings – including those covered on this website. 

Stay Connected

14,494FollowersFollow
154,237FollowersFollow
250,000SubscribersSubscribe

Latest Articles