Crypto copy-trading protocol Housecat emerges from stealth with $3.5 million in funding (via Timccopeland)
Housecat is a copy-trading protocol on the Polygon blockchain.has emerged from stealth today, having raised €3 million , from BlueYard Capital, Inflection, Notation Capital, 3KVC and a number of angel investors.
“I figured it would be really great if I could press one button and put 1 ETH on this, whatever he’s investing in. Then I started thinking, wait, that’s possible because it’s open source. You don’t even need the permission of the person,” he said. Housecat estimates that it could create a way for successful traders to effectively become asset managers in some sense. If they build up a large following, they might only own the assets in their wallet but they would be somewhat responsible for a much larger amount of money.
Housecat will initially restrict the tokens that can be copied, preventing traders from using their following to manipulate tokens with small market caps. Plus it will also identify which traders have signed into the platform and are known to be actively managing their wallets, as opposed to wallets that are simply anonymous and may not even know they are being followed.
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