Set Social Trading is Now Live on TokenSets

Introducing the first Social Trading platform on Ethereum

Anthony Sassano

Published in

Set Labs

6 min readJan 21, 2020

Today, we’re extremely excited to announce the official launch of the Set Social Trading Platform on TokenSets!

Set Social Trading is a marketplace and network that enables traders to create and manage their own Sets, giving the public instant exposure to their trading strategies. Users can follow along with these strategies by simply minting a Set on TokenSets which copies every single action the trader enacts.

Join our new Discord channel here to talk to our traders and get involved in the Set community!

Key Points

18 Sets from 13 traders are now available on TokenSets
Easily follow a traders strategy by minting one of their Sets
We’ll be on-boarding more traders over the coming weeks and months
Those interested in becoming a trader can fill out this form

Meet the Premiere Traders

Set Social Trading is launching today with 13 experienced trading partners that offer a wide range of unique strategies for you to follow. You can learn more about each of our traders below.

Major Features of Set Social Trading

Follow Experienced Traders

Our set of launch traders come from a range of diverse backgrounds inside and outside of the crypto space. Almost all of them have been trading for several years and have deep knowledge of both the crypto and traditional markets.

Unique Trading Strategies

Set Social Trading gives anyone in the world the ability to gain instant exposure to a wide range of unique trading strategies. Whether you’re bullish or bearish on BTC or ETH, there’s a strategy waiting for you on the platform.

Flexible Fees

Traders can set an entry fee between 0% and 5% for each of their Sets. These fees are paid to the trader in the form of their own Sets which means they’re automatically reinvested into the strategy.

In a future update, we’ll enable the ability for traders to enable profit-based fees or exit fees on their Sets.

Familiar Interface

Each Set being offered by our launch traders will have a familiar look and feel that you’ll be used to if you’ve used TokenSets before. The key difference of these Sets is that you can now opt-in to Follow a traders Set which will automatically sign you up for rebalance notifications for that particular Set via email.

Users can Buy or Sell a Social Trading Set using ETH, USDC, DAI, or SAI. If a particular Set is positioned in WETH and a user opts to buy using USDC, then that USDC is automatically traded via Kyber Network’s on-chain liquidity reserves for ETH (which is then wrapped into WETH) or traded with market makers using 0x orders — exactly as it happens when you purchase a Robo Set.

Leaderboard

Trader Sets are ranked on a publicly viewable and verifiable dashboard. On this dashboard, you can sort by market cap, number of users holding the Set, and performance of each Set since inception. This enables you to quickly decide which trader you’d like to follow.

Traders at a Glance

The Traders tab on the TokenSets Explore page allows you to easily view the total capital in each trader’s Sets, the total amount of holders their Sets have, how many Sets they currently offer, and which tokens they’re trading.

Unique Profile Pages

Each Trader has their own unique profile page where you’ll be able to view information about them, their recent rebalances and the Sets that they currently offer on the platform. You’ll also be able to see how many users are following the trader and the total combined market cap of their Sets.

Public Rebalancing

Traders can enact a trade (rebalance) for their Sets by submitting an Ethereum transaction and publishing the reasoning/rationale behind their decision on TokenSets. Users who own a Set that uses the trader as a signal will have their positions automatically rebalanced.

The rebalance process is the same as any other Set — it kicks off a dutch auction where third party liquidity providers use the Rebalancing Dashboard to participate in the rebalance. During the rebalancing of a Set, all buys and sells are disabled for that Set.

You can learn more about how Set Protocol rebalances work here.

A live rebalance for one of the Social Trading Sets

The rebalancing interface provides detailed information about each rebalance including its current progress, time to fair value, remaining shares, the live bids that have been placed, and allows users to place their own bids.

What Our Traders Are Saying

“Markets are inherently social phenomenons, especially the crypto markets. Social Trading from the Set team will operate as the public square for skin-in-the-game analysis of these new social networks that we all follow so closely.”
David Hoffman, COO at RealT
“TokenSets is a buffet of trading styles. If you want to avoid volatility and catch the macro-bull trends, there are Sets for that. If you want exposure to micro movement and higher volatility, there are Sets for that as well. Step on up to the buffet”
Aaron Kruger, Full Stack Software Developer

Frequently Asked Questions

Do I need to complete a KYC process to use Set Social Trading? No KYC is required to use the Set Social Trading platform (or to mint any of the other Sets on TokenSets).

Will you be supporting other assets? We plan to add support for more assets and tokens over the coming weeks and months. For now, we support WBTC, ETH, USDC and DAI on the Set Social Trading platform.

How can I trust the Set Social Trading smart contracts? We take the security of our smart contracts extremely seriously. In line with this, the new smart contracts that we have deployed to support Set Social Trading have been audited by Peckshield and ABDK Consulting. You can view the Peckshield audit here.

Conclusion

We’re excited to launch the next evolution of Set Protocol and can’t wait to see how the platform grows with traders and followers alike.

We believe that Set Social Trading will supercharge the current offerings on TokenSets because it allows anyone to become a trader, create their own Sets, and share their strategies with the world.

Over the coming months, TokenSets will onboard a second cohort of traders & strategies. If you’re interested in being part of this second cohort, please fill out this form.

Learn more about Set and join our community