Mercor disrupts financial markets by building a bridge between algorithmic trading and everyday investors and developers worldwide.
In today’s market, individuals face high barriers to the advantages of algorithmic trading. Extremely high fees and subscriptions for algorithms, as well as steep knowledge requirements, have long prohibited all but the largest institutional investors. Publicly available platforms only allow for simple trading strategies. Developers lack the resources and data necessary to create, test, and market complex, highly profitable algorithms.
We believe these barriers ultimately exist because of a lack of cooperation between private traders and developers. We have therefore created an interactive and social environment where developers are provided with the tools, resources, and data to create, evaluate and deploy competitive algorithms while providing traders with affordable access to their work.
Mercor will give developers the opportunity to use our unique programming interface called ‘Mercor Environment’. This will provide developers with all the tools and computational power necessary to build hugely complex Python-based AI/Machine Learning algorithms. Development will be supported by datasets, educational tools, tutorials (Mercor Academy), and pre-made functions. Developers can form teams and build together, testing and deploying their algorithms — creating their own ‘hedge funds’ and profiting based on their AUM. Developers can also create academy modules for more advanced trading algorithms and strategies.
Mercor will give ordinary traders the opportunity to directly invest in these complex algorithms with no intervention of large institutional investors. The platform will connect traders with developers (students, professionals, or hobbyists) and their algorithms, making the best algorithms accessible to the public. To lower the barrier of entry, almost no knowledge of algorithmic trading is required to begin using the platform. The platform’s Mercor Academy module includes a demo environment where users can practice and perform fictitious trades. This also allows new users to test the platform without any commitment. Developers can also create academy modules for more advanced trading algorithms and strategies.
Trades are executed on decentralized exchanges by utilizing smart contracts. This environment provides many advantages over traditional market algorithmic trading.
As there is no central authority on the platform, private keys for digital assets on the platform remain in the user’s possession at all times. Trades are initiated through signals coming from the algorithm storage. These signals will communicate with a blockchain oracle that calls upon the smart contract on the Binance Smart Network. The smart contract performs the trade directly on a decentralized exchange. The allocation of the developer’s fee and the cost of the transaction are handled by the smart contract. In addition to security, this setup provides a great deal of privacy to Mercor’s users.
The decentralized blockchain environment levels the playing field for everyone involved. No one is refused entry and there are fewer costs and regulations than in a traditional market environment. Also, as all transactions are immutably stored on the blockchain, all trading activity is easy to follow and evaluate.
Our goal is to create a fair playing field for anyone interested in algorithmic trading. Therefore, access to the Mercor platform is free. Developers pay standard fees using MRCR tokens that are based on computational power usage and total trading volume. Traders will also be charged competitive trading fees. We are committed to a fee structure that is fair, straightforward, and as transparent as possible.
Developers will earn MRCR tokens by deploying their algorithms onto the Mercor platform. The amount of MRCR gained by the developer will be calculated by a variable fee that is set by the developer. We do this to create a free market effect, in which the best-performing algorithms can demand the highest fees. Developers can stake MRCR tokens in tiers that will allow them to unlock tools that can be used to create more advanced trading algorithms. Furthermore, developers can use MRCR tokens to purchase additional storage and computational power to train and run their algorithms in more advanced environments.
Investors need MRCR tokens and a native coin to invest in an algorithm. The MRCR tokens need to be staked and, depending on the amount staked and the corresponding tier, certain benefits will be available. Once an investor chooses an algorithm, a fee will be applied which will be used to pay the developer.
Ultimately, the difference is clear. Current, centralized algorithmic trading solutions are expensive, require a lot of knowledge to utilize, and are essentially reserved only for the elite. Mercor provides an environment where everyday individuals (students, hobbyists, and professionals) can work together in a synergistic way to create, monetize and utilize trading algorithms that have been previously out of reach.
We are Mercor — The first decentralized algorithmic trading platform.