Mercor — Community Questions
The Mercor community has steadily been growing in recent days, and we have received some great questions from the community. We enjoy engaging with the community and it was great to see that some of our community members took a deep dive into the platform. Some amazing questions emerged and we would like to share them with all community members.
What can you tell us about the team?
The core team consists of 4 developers and 2 people responsible for business development and marketing. The entire team has been in the crypto-space since 2017 and some since 2013. Furthermore, the majority of the team is situated in Central Europe.
We are still expanding the team, if you think you can add value to the team send us an email: info@mercor.finance.
Does your team have any background in algorithmic trading and did your team members used/developed trading algorithms in an off-chain environment?
Two core members of the team have extensive experience in the quant/algorithmic trading industry. One of them being a quantitative trader and researcher for a large institutional investment firm before joining the team last year. Their experience has been our main input for the Alpha environment, in terms of tools, datasets and integrations needed. These team members amongst other algorithmic traders have been testing and deploying real trading algorithms in the Alpha environment over the past months. We will be showcasing this to the public in the coming weeks.
When is the IDO going to take place?
Official date has not been picked yet, we are reviewing multiple options and will update the community ASAP. Our main priority is finding a funding method that assures a swift and successful launch. We did already open the whitelist which can be found here: https://forms.gle/ovR65g1JibNvFoik8
Where will the IDO take place?
The team is still exploring multiple options, including our own developed IDO contracts, launchpads of all sorts and more. Once a decision has been made we will update the community.
Do you plan to have your smart contracts verified by a third party? If so, which one?
This is definitely part of the plan. We have not decided which third party yet.
How is your product different from other similar projects?
There are certain competitors in the stock market space, such as Alpaca and Metatrader. However very few in the crypto space and none with the UI like Mercor and the focus on both Developers and Investors. On BSC we are the first mover!
What percentage of your project will be your original code?
Great question, there are certain benefits in using specific code from other projects that proved itself. Such as token and ICO contracts. However all Mercor code concerning our trading engine and platform, such as the smart contracts that are getting triggered by the algorithms, those have been and will be completely developed by our development team. Since that is the majority of the work and code I would estimate it to be around 90%.
Are you planning to start on BSC first and expand after?
We are indeed starting and launching on BSC. However the goal is to extend to other chains from there on.
Is the max supply of MRCR already minted?
In the week of 05/04/21 we will start minting the tokens. The max supply will be 100m tokens, of which a large chunk will be locked for liquidity, initial circulating supply will be around 8.55m after the IDO. As of now (04/04/2021) we are still finetuning the details. However, all details will be shared with the community as soon as possible.
What is the benefit of having such a platform on the blockchain and not off-chain?
There are multiple benefits of being on the blockchain, first of all algorithmic trading is not yet as present and dominant in the blockchain industry as it is off-chain. Secondly, there is fees and regulations which are more lenient, which allow us to move faster and more efficient. Furthermore, there are privacy and security benefits. All in all the decentralized nature of the blockchain offers an equal playground for all developers worldwide, whereas off-chain that is not the case.
Which programming language is being used for the algorithm development?
Python is the first programming language on our platform and is one of the most popular programming languages (off-chain) for the development of algorithms, especially when involving AI and machine learning. We are currently working on including C, especially for high frequency trading algorithms.
Are there any risks & vulnerabilities regarding the platform which could stop it from functioning as intended, the front-end website for instance?
There are always vulnerabilities and we are working hard to minimize them. We can assure you that the front-end and back-end are separate environments, making sure that the algorithms are not dependant on the front-end or any other external factors. Which is also showcased in the Mercor architecture dashboard.
Are you planning on expanding to other devices?
First, we are putting the focus on desktop, from then on we will shift our focus to mobile apps. IOS and Android with no particular order.
How will signal algorithms work? Who would give signals — algorithms?
Signal algorithms allow investors to receive the calls that the algorithms make without automatically investing the funds. Investors can then make their own decision based on the signals received.
We would like to thank the community for the the great questions so far (in particular Proteus Anguinus). We are looking forward to hosting more Q&A’s as well as AMA’s with the community!
