Is Aluna.Social A Good Investment?

If you’ve spent any time investigating crypto exchanges you may have come across Aluna.Social. It’s an interesting case, because it isn’t truly an exchange, and doesn’t fit neatly into any specific box as a platform. You see, not only is it a crypto trading terminal, it’s also partially a social network. And because it makes sense to combine the two it’s also partially a social trading platform, which is how it bills itself. And finally it’s also a trade automation terminal. Yeah, there’s a lot going on at Aluna Social.

At its heart however, it’s a social trading platform that’s focused on crypto and looking to offer crypto traders a new trading experience. Like many decentralized exchanges it is completely transparent, although it isn’t truly decentralized. But the founders of the platform hope that by keeping it transparent the users of the platform, that is the traders, can make better decisions that lead to improved performance.

Another aspect of the platform that definitely needs to be mentioned is the FUN. Aluna Social makes use of gamification in trading through their native ALN token, making trading even more fun and exciting.

How Aluna Social Works

One of the core designs of Aluna is to simplify crypto trading. One way it does this is through it’s social trading mechanisms that allow traders to “put their money where their mouth is.” One of the problems with crypto up until now has been the presence of shills who can recommend buying or selling specific coins without actually buying or selling themselves.

Aluna’s social platform does away with the shill by publishing every users transaction history. But they remain private by keeping wallet balances hidden. This means traders are able to verify that anything being promoted by another user on the platform is also being traded by that user. This is one part of the transparency that allows users to make better decisions.

In addition to providing unprecedented transparency, Aluna also innovates with its multi-exchange trading terminal, allowing its users to trade across any of the supported cryptocurrency exchanges while still maintaining full control over their crypto holdings. In short, Aluna combines an innovative transparency with complete user control over their own funds.

Aluna Social Features

Multi-exchange Trading Terminal

One of the most frustrating aspects of cryptocurrency trading is the need to maintain numerous accounts across a variety of exchanges in order to have access to all the different coins, tokens, and trading pairs. With Aluna Social that frustration is a thing of the past. Aluna allows users to connect to their various exchange accounts via an API key, and then manage all the various accounts from one dedicated trading terminal.

In addition to allowing trades on any connected exchange Aluna also pulls in all the performance data, allowing traders to track their entire portfolio’s performance across multiple exchanges.

Trader Social Network

The social network for crypto traders is one of the most innovative features included with Aluna. The biggest difference seen in Aluna versus traditional social networks like Facebook is that with Aluna not only can users post their opinions, but the platform tracks all users’ trading activity and makes it publicly available.

In this way anyone in the social network  can compare the words of other users with their actions. Those who are promoting a coin, but not trading that coin themselves, probably shouldn’t be listened to very closely. Aluna calls this mechanism a proof of performance.

Automated Copy Trading

There are two primary ways to automate trading when using the Aluna terminal.

  1. The social network created on the Aluna platform makes copy trading and counter-trading very easy to undertake. Any trader on Aluna is able to designate a specific amount of cryptocurrency to automatically copy the trades of any other trader on the platform. Or they can choose to take the opposite position from any other trader on the platform.
  2. For those traders with more experience and technical know-how it’s also possible to automate trading using algorithmic strategies, or custom made trading bots. These algorithmic trading bots can also be copied by other traders. Future plans of Aluna include the creation of a platform where users are able to create their own trading strategies and bots.

Profit Sharing

Aluna plans on adding a PRO subscription to the platform that will deliver enhanced benefits to those traders willing to pay a monthly fee to access such features. Aluna plans on transferring up to 50% of these monthly fees to a Performance Pool, which will then also be used to reward the top traders on the leader board each month.

Prediction Games

Gamification is an important concept at Aluna, and one which the platform plans on using extensively. Currently there are plans in the works for three different prediction games on the Aluna platform.

  • Binary Outcome 

These will be games that involve a question that has two mutually exclusive answers. An example of this would be the question “Will Bitcoin trade above $65,000 before the end of the year?” Traders can put up a specific amount of crypto and answer either ‘Yes’ or ‘No’. Those with a correct answer will receive a payout, while those who are wrong will lose the coins that were put up in the contest.

  • Social Trading 

These games allow traders to make prediction bets without fully exposing themselves to a negative outcome. This mechanism will allow traders to wager on the outcome of the trades of others without fully copying the trades, thus lowering the risk exposure.

  • Leaderboard Games 

These will involve betting on the traders that will appear at the top of the

leader board each week or month. This allows users to give feedback on results such as performance (overall percentage gain), risk (drawdown, risk-to-reward ratio) and consistency (percentage of profitable days over the period). Displaying the winners and losers, including the most and least wagered profiles, will paint a useful picture of the community by using the leader board as a filter that sorts through traders’ ideas, styles and risk management.

ALN Tokenomics

Many of the features on the Aluna platform are tied tightly to its native ALN token. This token is an ERC-20 token built on Ethereum, and it was created with a capped total supply of 100 million tokens, which have all been minted at the token generation event.

The ALN token was conceived to provide utility to the platform in four ways:

  1. Protocol Mining: The active participants on the platform, and all liquidity mining is rewarded with the ALN tokens that were allocated to the Ecosystem Fund.
  2. Staking: Like many other protocols, Aluna has created a staking mechanism for the ALN tokens. Users who stake ALN will be eligible to receive a range of benefits, which will be determined by the amount staked. The staking rewards could include the obvious token rewards, but also reductions in fees, or other premium features.
  3. Payments: When paying in ALN users will be able to take advantage of discounted prices for upgraded platform features.
  4. Governance: The ALN token is featured in governance participation, which will be discussed in greater detail in the following section of this review.

Bottom Line

The one-stop shop type solution being provided by Aluna Social to its users is an excellent innovation for the widely diverse crypto ecosystem. Aluna helps simplify the trader’s life by aggregating a variety of exchanges, and hopefully in the future the platform can also include other DeFi protocols, thus making a true one-stop shop for crypto trading and investment.

Additionally, the social aspect of the platform makes it an excellent choice for retail traders who can benefit greatly from the combined and crowd sourced knowledge of the entire community. Professional traders aren’t left out either. They can enjoy a seamless trading experience that spans several major exchanges, plus earn ALN tokens for using the platform and for providing others with their knowledge and strong trading performance.

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