The crypto landscape keeps introducing new ventures with differing DeFi and solution trading ways. One such project, FXGuys, created a stir even in its presale phase. Currently, now at Stage 3, its presale token price stands at $0.05 and reportedly has raised over $4 million. Based on this breakthrough, there is questioning whether it might be possible for it to attain the funding stage of $10 million.
FXGuys’ Plan to Crypto Trading and Proprietary Funding
FXGuys is introducing a model that combines decentralized finance and proprietary trading. The move proposes a prop trading capital-access program, which attempts to provide retail traders with access to funds for trading. Those who are successful in the required evaluations supposedly gain access to as much as $500,000 of capital, as well as a formalized profit-sharing framework.
Also, FXGuys introduced staking of its $FXG token, whereby holders of the token receive a 20% share of broker trading volume profits. All these features mean that the project is attempting to come up with different ways to engage active as well as passive players in the crypto space.
Trade2Earn Model and Transaction Structure
One of the aspects highlighted at FXGuys is its Trade2Earn model. Unlike standard trading platforms, in this approach, $FXG tokens are distributed to the traders based on their performance in trading. The purpose appears to be to motivate participation and ensure liquidity in the system.
Additionally, FXGuys does not impose buy or sell fees on trades, which means that traders do not have to incur additional costs for making trades. The project also declares a no-KYC policy, which aligns with decentralized trading platforms where privacy-based transactions are valued.
Funding Progress and Market Interest
Although FXGuys is yet to enter the presale phase, its funding process has been under the limelight. The project has reportedly raised over $4 million, and the interest keeps flowing in from investors and traders. Factors contributing to this include:
- Prop trading model to allow retail traders to open funded accounts
- Broker-supported trading infrastructure to function in harmony with MT5, cTrader, and DXtrade
- Easy payment methods that enable deposits in fiat in over 100 currencies or cryptocurrencies
With these in mind, some in the market are questioning whether FXGuys will surpass its $10 million funding goal in the subsequent rounds of its presale.
Looking Ahead: FXGuys and the DeFi Trading Landscape
FXGuys is positioning itself in the DeFi trading space by focusing on in-house models of trading and incentive-based systems of trading. As the presale proceeds, it will be interesting to observe as the project materializes, of particular interest being:
- Presale and funding milestones completion
- Adoption of its prop trading model of funding
- Listing onto decentralized trading exchanges
The wider DeFi space is competitive, with several projects venturing into various trading innovations. For those who have been following FXGuys and other such projects, doing due diligence is still crucial before making any investment or involvement.
