League of Traders is a social finance (SocialFi) platform that provides portfolio management and gamified trading services for the cryptocurrency market. It operates by aggregating user data from multiple cryptocurrency exchanges into a single interface, allowing users to track their assets, compete in trading competitions, and automatically copy the strategies of other traders. The platform's stated goal is to help users "Trade like an expert" by creating a transparent, data-driven social environment. ^{[1] [2]}​

Overview

League of Traders functions as a meta-layer application that connects to users' existing accounts on major centralized cryptocurrency exchanges (CEXs) through read-only API keys. This connection allows the platform to access and display portfolio and trading data without having direct control over user funds or the ability to execute withdrawals. The core of the platform is built around social and competitive features. Users are ranked on public leaderboards based on metrics like profit and loss (PnL) and return on investment (ROI), creating a competitive environment referred to as "leagues." ^{[3] [2]}​

The platform is designed to transform cryptocurrency trading from an individual activity into a community-driven one. It enables users to share their portfolio compositions and trading histories, creating a transparent ecosystem where participants can learn from the strategies of successful traders. A key feature is copy trading, which allows users to automatically replicate the trades of selected expert traders in their own exchange accounts. ^{[1] [4]}​

The ecosystem is powered by its native utility token, LOT, which is built on the BNB Smart Chain. The token is integrated into the platform for various functions, including staking, paying for premium services, and receiving rewards from trading competitions. The project has also developed proprietary features like the "LOT Beacon," an automated signal generator, and a "Social Staking" model that rewards users based on both their staked tokens and their community engagement. ^{[5] [4]}​

History

League of Traders was founded by Ricardo Teixeira, Bartolomeu Leite, and Filipe Pires. While some sources state the company was founded in Lisbon, Portugal, in 2018, others cite a founding year of 2019 with a headquarters in Seoul, Korea. ^{[2] [10]} The initial version of the mobile application was released in 2019, with some sources citing an initial release on the Apple App Store on April 18, 2019, and others noting a launch date of August 21, 2019. ^{[3] [6]}

In 2021, the company was acquired by MWM, a global mobile application publisher, marking MWM's first expansion into the Web3 space. ^[2] On December 20, 2021, the project conducted an Initial DEX Offering (IDO) for its native LOT token on the DAO Maker launchpad, raising $100,000 at a price of $0.025 per token. Following the IDO, the LOT token was listed on PancakeSwap and the Bitget exchange. ^[3]

The project has undergone several funding rounds. On June 29, 2022, the company announced the closure of a $2.4 million Pre-Series A funding round. The round was led by C3 Venture Capital with participation from Mirana Ventures (the investment arm of Bybit) and Cadenza Capital Management. At the time of the funding, previous investors included Alameda Ventures, BitMEX, and Neowiz. This funding announcement was associated with a company headquarters in Seoul, South Korea. ^{[10] [8]} Later, on January 16, 2024, the project announced another Seed funding round, raising $2.7 million from a different group of investors, including Cogitent Ventures, Phoenix Crypto, Halvings, and Gains Associates. ^[2]

The platform has reported significant user growth over its history. By mid-2022, the user trading volume connected to the platform exceeded $4 billion per month, with a peak of over $5.4 billion in April 2022. ^[10] By August 2022, it was reported to have surpassed 500,000 registered users. ^[3] More recent data from January 2024 indicated the user base consisted of over 350,000 traders. ^[2] The platform operates globally, with a user base spanning over 90 countries and, as of early 2024, processing a monthly volume of over $11 billion across more than 8 million transactions. ^[1]

Platform and Features

League of Traders combines portfolio management, social networking, and gamification into a single platform available on web and mobile devices (iOS and Android). ^[1]​

Core Functionality

• Unified Portfolio Management: Users can connect their API keys from various supported cryptocurrency exchanges to monitor and manage their assets from a single dashboard. This provides a consolidated view of their net worth and token allocation in real-time. The platform emphasizes the security of this feature by using read-only API keys, which prevent the platform from accessing user funds or executing trades without permission. ^{[1] [2]}
• Gamified Trading Leagues: A central feature is the regular, competitive trading competitions or "leagues." Users are automatically entered into these events and ranked on a global leaderboard based on their trading performance. This gamified approach encourages active participation and showcases top-performing traders. The project has hosted a long-running series of these events, with sources referencing the "75th League" and "76th League," and announced plans to co-host competitions with partners like the Bybit exchange. ^{[1] [3] [10]}
• Social and Copy Trading: The platform includes a community feed and social profiles where users can share strategies, follow other traders, and view public portfolio details. Users can receive real-time push notifications about the activities of traders they follow. The copy trading feature allows users, particularly those with less experience, to automatically mirror the trades of selected top-ranked traders in their own accounts. ^{[6] [5]}
• Supported Exchanges: The platform integrates with numerous major centralized exchanges, including Binance, Bybit, KuCoin, OKX, Bitget, Gate.io, MEXC, Upbit, Coinbase, and BitMEX. ^{[1] [2] [6]}

Proprietary Technologies

• LOT Beacon: This feature is an automated trading signal generator. It functions by algorithmically analyzing the collective, aggregated trading data from the platform's entire user base to identify patterns and potential trading opportunities. Users can choose to act on these signals manually or set the system to execute trades automatically on both centralized and decentralized exchanges. The stated purpose of LOT Beacon is to offer a data-driven alternative to traditional copy trading, which relies on the performance of a single individual. ^{[5] [4]}
• Trader Map: A data visualization tool that displays live trading activity for specific cryptocurrency tokens. It is designed to show real-time market sentiment and community engagement around an asset. The platform has used this feature in collaborative events with partner projects. ^[1]
• PRO Trader NFT: The project's roadmap has included the development of PRO Trader NFTs. These are intended to be unique digital assets that provide special benefits or status to top-performing traders on the platform. ^[2]

LOT Token

The League of Traders Token (LOT) is the native utility token of the ecosystem, operating on the BNB Smart Chain as a BEP-20 token. It is designed to power the platform's Web3 functionalities and incentivize user participation. ^[5]​

• Token Ticker: LOT
• Blockchain: BNB Smart Chain
• Token Standard: BEP-20
• Contract Address: 0xbfe78de7d1c51e0868501d5fa3e88e674c79acdd ^{[5] [9]}

Tokenomics

The total and maximum supply of LOT is capped at 1,000,000,000 tokens. The project has a token burn mechanism, with a stated plan to use up to 50% of its fee-based earnings to buy back and burn LOT tokens from the open market, thereby reducing the circulating supply over time. ^{[5] [4]}​

The token allocation for the 1 billion total supply is as follows: ^[2]​

• Ecosystem/Rewards: 29.25%
• Team: 15%
• Treasury: 11%
• Seed Sale: 10%
• Marketing: 10%
• Liquidity: 10%
• Private Sale: 7%
• Advisors: 5%
• Public Sale (IDO/IGO): 2.75%

Token Utility

The LOT token is integrated into the platform with several primary use cases:

• Staking and Rewards: Users can stake LOT tokens to earn rewards. The platform uses a "Social Staking" model that combines traditional Proof of Shares (POS) with a concept called "Proof of Community" (POC). In this system, user rewards are calculated based not only on the quantity of LOT staked but also on their level of community engagement and network reach within the platform. ^{[5] [4]}
• Access to Premium Features: Holding or using LOT provides access to premium services. This includes eligibility for exclusive community events, entry into premium tournaments, and access to advanced portfolio analytics. ^{[2] [5]}
• Fee Reduction: The token can be used to receive discounts on platform fees, such as those for the copy trading feature. ^[5]
• Governance and Customization: The token has planned utility in platform governance, allowing holders to participate in decisions. It can also be used to create private or custom trading competitions. ^[2]

Key Figures and Organization

League of Traders was founded by three individuals who previously held positions at the mobile app publisher MWM. ^[2]​

• Ricardo Teixeira: Co-Founder and CEO. He previously served as a Product Manager at MWM.
• Bartolomeu Leite: Co-Founder and CPO (Chief Product Officer). He was also a Product Manager at MWM.
• Filipe Pires: Co-Founder and CTO (Chief Technology Officer). He previously served as Head of Engineering and CTO at MWM.

In mid-2022, John Ting Li was cited as the company's CEO. ^[10]

The company is headquartered in Lisbon, Portugal, and also maintains a significant presence in Seoul, South Korea, which was listed as its headquarters in 2022 funding announcements. ^{[2] [7] [10]}

Parent Company

In 2021, League of Traders was acquired by its parent company, MWM, a global firm specializing in the development and publishing of mobile applications, with a portfolio of over 50 apps and more than 700 million downloads. The acquisition was MWM's first major move into the Web3 and SocialFi markets. The League of Traders mobile app is listed as being developed by MWM or its subsidiary, Wizpace LTD. ^{[2] [6] [3]}​