Zignaly secures $3M in private sale to unveil first-ever NFT-based insurance protocol

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Zignaly is a relatively new but legit automated cloud-based trading platform in the digital currency trading bot space.

The fintech start-up has announced a $3 million private sale round, led by Parataxis Capital, a multi-strategy investment company focused on the cryptocurrency sector.

Joining Parataxis is an impressive lineup of institutional virtual asset investors: Okex’s Block Dream Fund, AscendEX (formerly BitMax.io), DAOMaker, Sino Global Capital, LVT Capital, AU21 Capital, LD Capital, Disrupt.com, BSCPad, Acheron Trading, GDA Capital, Switchain, LedgerPrime and Kryptos.fund.

Zigcoin (ZIG) — first-ever NFT-based insurance protocol

Zignaly is set to launch the first-ever NFT-based insurance protocol powered through the platform’s native utility token, Zigcoin (ZIG).

As the crypto markets are prone to a high level of volatility, fully using to good advantage the change in market prices without allotting a huge amount of time is almost impossible.

This is where trading bots prove their mettle. Once you formulate a strategy for your trading bot, it will perform transactions on your behalf.

Multiple levels of automation

With a number of crypto signal locator services available, Zignaly provides multiple levels of automation that suit its users’ degree of experience.

Zignaly is a social investment platform that facilitates profit sharing between users and professional traders who copy-trade strategies.

The platform allows users to trade completely automated, combine others’ trading gameplan with their own, or create and automate their own strategies from the ground up.

According to chief executive officer Bartolome Bordallo, Zignaly is a consumer-facing platform with the holistic objective of “enabling alternative investment opportunities and making crypto assets more accessible to everyone.”

Zignaly: The ‘Silent Rocket Ship’

“We’re thrilled that our institutional partners understand this goal, and are supporting our vision to unlock new opportunities for users to safely and securely participate in the digital asset economy through Zignaly’s social investment platform and insurance protocol,” Bordallo said.

Automated trading bots have played a crucial role in helping people gain big benefits from market instability by increasing the frequency of trading. And one such trading bot is Zignaly.

Zignaly is the “silent rocket ship” that’s been propelling the retail order books on prominent crypto exchanges, a media release on the start-up’s website says.

Disrupting the crypto trading space

“We see Zignaly disrupting the crypto trading space with its one-of-a-kind trading insurance protocol and 100% performance-based approach for expert traders,” OKEx Block Dream Fund founder Dora said.

Zignaly — which drives its retail liquidity to several virtual asset exchanges through their broker API — is deeply embedded into some of the crypto industry’s most prominent exchanges such as Binance, with several other exchanges expected to go live anytime this year.

“As evidenced by its phenomenal growth, it is clear that there is strong demand and product-market fit for Zignaly’s platform services,” Parataxis Capital’s Julian Gropp said.

Financing for R&D, UX

Unlike most projects in the crypto asset landscape that disclose their capital raise prior to product launch, Zignaly has rolled out and commercialized its social-trading service before accepting any major capital infusions.

The financing will primarily be set aside for research and development, UX and to support the continued expansion of Zignaly’s insurance protocol.

Through its broker API, Zignaly routes billions of dollars in retail trading transactions to its partnered digital asset exchanges every year.

Zignaly has more than 60,000 registered users and has been generating revenue since 2018. Its user base has traded more than $1.7 billion in volume, a huge chunk of which has been gained in just the last three months.

Image courtesy of Bitsgap/YouTube and MDX Crypto/YouTube

Jet Encila

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Jet Encila

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