Today, a young brother brought up his idea and asked me to invest in creating a platform.

To be honest, I have created platforms twice before, and that initial drive has faded.

Because I prefer service-oriented projects, the platforms I created were also service-oriented. Let me share with everyone, and the big shots can see where things went wrong that led to the failure, and I welcome guidance.

The first platform: iTrader (Trading)

We obtained a license from Canada, developed our own technology, and the source code is also ours.

Platform infrastructure: It is a copy trading platform, similar to Binance and OKX's copy trading systems, which I started before they were launched.

Platform advantages: Binance users can copy OKX users, and it can work with any exchange that has an API, achieving second-level copy trading.

Platform operation logic: 1: Arrange business development to find communities and traders to join and collaborate 2: C-end traffic investment 3: B-end cooperation

Platform profit logic: 1: We can negotiate cooperation with exchanges, and users trading on our platform, regardless of whose agent they are, can earn rebates as long as they use our API.

2: When profits are made, rebates must be given, and the platform will take a 30% cut. Traders get 70%.

The total cost was over 3 million, and it took nearly a year to develop. After launch, many communities responded positively and helped the platform attract users.

Even high-quality traders from overseas competing platforms were recruited. Most traders had good real trading performance.

Just when we were gaining momentum, news broke that OKX launched copy trading, and Binance launched copy trading…

Without seeking financing, continuing on was very costly. If we cut losses in time, it would still be a small loss; if we didn't cut losses, it would drain energy and funds. I felt it was unnecessary to continue since all platforms had launched copy trading; how could we succeed? In the end, we decided to cease operations.

So, I really don't know if it was the wrong path or what?

(If there is interest, I can share about another one, pre-trading on smart contract platforms.)

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