MECHANISMS OF OPERATIONS INCORPORATED BY THE TYCOON TRADING PLATFORM

Tycoon is a cryptocurrency https://tycoon.io/) trading platform that makes use of several systems and mechanisms aimed at ensuring the security, privacy, efficiency, and reliability of the platform, all of which will be explained below.

The API ( Application Programming Interface) is a type of interface between two services or users, which acts as a bridge promoting communication and information exchange eliminating the problem of communication associated with other platforms of Blockchain technology. Using this mechanism, Tycoon can organize the orders made by traders, which are then forwarded to the followers without a third party having access to the user's accounts.

The KYC (KNOW YOUR CUSTOMER) scheme is a mechanism by which the personal information and details of all new customers and users are made to undergo a strict process of validation and verification before the commencement of any form of transaction. Each user is provided with an alias for anonymity and access to their account by traders are highly restricted unless permission is granted. Here, contact is limited as traders can only post newsfeeds on the platform for viewing by the followers and other traders.

A system of profit-sharing is also adopted, whereby 20% of the funds generated via trading on the platform is obtained by the platform as profit. The traders are allocated 10% while the Tycoon platform itself receives the remaining 10%. If, however, the user makes transactions in the form of tokens, a 50% discount is awarded, and the profit is sharing is reduced to 15%.

Tycoon makes use of a payment system in which all accumulated fees are paid by the followers on the 25th of every month rather than on a day to day basis. If the usual four weeks period has not elapsed by that time, then the billing is postponed till the next month. After the billing and payment, the platform then receives the appropriate fees and in turn, pays the traders for the services. Hence, the payment system goes from the follower to the platform and then to the traders.

A stop-loss feature is also available for all followers. This enables the followers to stop their association with a particular trader if the value of set capital falls below the value intended by the follower. Here, the trading volume is exchanged back to the original currency unit, and the set orders are stopped. Each follower gets to determine his stop-loss function based on the number of funds available.

In order to make things easier during the process of traders selection by a follower, all traders are ranked into six levels. Starting from level 0, a trader can move up to level 6 and can also return to a lower level if his performance expectation is deficient. The ranking system is conducted by an algorithm in which a trader's placement is determined by several factors such as how much profit the trader generates, the increase or decrease in followers and capital, the number of feedbacks and newsfeeds, and the amount and manner of managing trading volume.

The funds generated by the platform are also distributed and used in a certain manner. 40% of the funds are dedicated to marketing and branding as a means to pluck interest in the platform. 40% is allocated to the development and expansion of the Tycoon platform, and the remaining 30% is divided into two equal parts as a backup for any upcoming problems or challenge and for all legal necessities.