“Don’t be a Copycat, Be a Legend”, the slogan of copycat.finance where you can either be a copycat or a legend to utilize the platform. Copycat is a new decentralized copy trading and copy farming on BSC, but don’t mix up with copycat2.farm on polygon. The common name Copycat can mislead you to somewhere else.

Copycat is interesting in the way that it is an innovative social trading and farming platform that connects users with master traders and master farmers to enjoy riding on master’s benefit based on their investment proportion, or encourage the user themselves to become a master of their own trading strategy to generate passive income.

Before moving forward into details, please note that this is not a financial advice, and I have no affiliation to the Copycat in any way. Please do your own research and if you find this article interesting, you can buy me a coffee by giving a small tip.

As the project is quite new and they are not officially launched yet, most of the information can be gathered thru their documentation only, but the team also have a presence on Twitter and Telegram to answer all questions you may have.

The first time I came across Copycat, I first thought of the mutual fund where it doesn’t have to be operated by big investment bankers only, but everyone with financial wit can also be a leader of their own investment strategy. With the same concept of buying a mutual fund, if you do not have time to monitor each stock in your port folio, let the experts do it for you. Each master’s investment plan incurs entry fee and exit fee, of course, without guarantee to achieve their target as boasted. So it requires a lot of studies on the master’s background, plan and path to achieve their target.

Copycat uses “$COPYCAT” token as their governance token which is to be used for paying entry-exit fee and basically most of the fees charged in the platform. But allocating of funds to follow their beloved Master will use BNB only according to the documentation. The follower will then receive CPC_master tokens as contract tokens which can be swapped to BNB anytime. In other words, this is the same as when you allocate coins into a pool then receive LP as contract token.

I also like the idea how Copycat control risks for newbie follower by initially allowing top cap coins only to be “listed tokens” available for Master to swap/trade. Moreover, Master can only swap/trade through the only given routers to avoid all unverified risks.

At this point, the project is expected to start in August 2021, with no date specified yet, but there will be private sale of $COPYCAT @$0.1 on July 30, 2021 and presale @$0.15 on Aug 6. If you like the idea, you can support them on that day, but keep in mind that they are not verified by any certified party yet. High risk high income as always.

I personally plan to try a small amount on the project as a follower. I have a viewpoint on most of investment bankers and mutual fund managers may use Copycat as a channel to get to Crypto investors while their usual business under regulation and monitoring of SEC in some countries may not be fully allowed to conduct Crypto investment operation. 

I’ll definitely come back to review Copycat after it is officially launched in August.