OMTrade, a next-generation crypto exchange focused on social trading, has raised $6 million in seed round funding. The funding round was led by notable investors including Find Satoshi Lab, Folius Ventures, Meteorite Labs, Incuba Alpha, KSK Fund (backed by Keisuke Honda, ex-soccer captain of Japan), and a group of influential Web3 founders, Web2 entrepreneurs, hedge fund managers, and traders. The company aims to reshape crypto trading by fostering an inclusive community where individuals can learn and invest together, democratizing financial access for a broader audience.
OMTrade’s core innovation centers around realigning the interests of traders and followers through unique product features. These features include same-batch transactions, monthly high watermark settlement, and a market-oriented profit-sharing structure. OMTrade also introduces the concept of promoters to identify and onboard talented traders and new crypto investors, harnessing the power of influencers to contribute to the platform’s growth.
Michael Lee, the founder of OMTrade, points out the company’s mission to break down barriers in the crypto trading world and empower everyday investors with the tools and insights to trade confidently, even without years of experience.
Copy trading is at the heart of OMTrade’s strategy, providing users with the opportunity to leverage the expertise of experienced traders, diversify their portfolios, and simplify their investment approach.
OMTrade addresses the limitations of existing copy trading platforms, which often lead to misalignment of interests between traders and followers. To tackle these issues, OMTrade settles followers’ trades simultaneously with traders, eliminating price slippage. Additionally, it introduces multiple settlement schedules and offers traders flexibility in profit-sharing ratios and data privacy settings. The platform’s goal is to provide a fair, sustainable, and creative environment for both traders and followers.
The introduction of promoters is another key innovation by OMTrade, bridging the gap between professional traders and followers. Promoters help identify and promote trustworthy professional traders, earning commissions on fees and followers’ trading profits. This approach allows traders to focus on maximizing earnings without distractions while influencers focus on discovering and promoting reliable trading talent.
OMTrade emphasizes the importance of community in copy trading, striving to create a vibrant environment where knowledge is shared, and collective wisdom is amplified. The platform plans to introduce social and interactive features to make crypto trading more engaging and accessible, with artificial intelligence playing a significant role in enhancing user experiences.
The founders envision OMTrade as an open community governed by a decentralized autonomous organization (DAO) led by crypto-native traders, influencers, and researchers. Michael Lee’s background as a successful veteran trader and early investor in top crypto projects, coupled with a strong tech team and regulatory compliance, positions OMTrade to revolutionize copy trading in the Web3 era. The company is currently testing its alpha version and inviting key opinion leaders (KOLs), influencers, and proven traders to join its special referral campaign.