CoinLoop

CoinLoop is a SocialFi networking app for crypto traders. It uses on-chain data to identify top DEX traders and creates curated profiles, showing their stats and rankings. New users can follow curated traders to see real-time activities, receive alarm when trades happen and even copy their favorite trader’s moves - with CoinLoop, you stay in the loop.

Traders can claim their pre-filled profiles by connecting wallets, passing proof-of-personhood and build a follower base. They integrate their Lens bio and PIP when claiming their profile.

An interactive map reveals location of traders who inserted their cities. Traders can connect and organize social meet-ups.

The overall goal is to connect traders and build a community for discussing trades, strategies, and events. On-chain data provides credibility and transparency. Social features like posts and chat add engagement. Integrations like 1inch enable trading without leaving the app.

At the core of CoinLoop is a Next.js frontend built with React components for the UI. Tailwind CSS handles the styling while Mapbox JS powers the interactive map of trader locations.

On the backend, we used PlanetScale's MySQL database along with Prisma as the ORM for queries. The database stores trader profiles, analytics, and social data.

Vercel hosts the Next.js frontend and API server which handles requests from the frontend. The API integrates with Covalent and Spectral for on-chain data to populate trader profiles.

We used Lens Protocol to build our social network on top of it. CoinLoop is benefitting from Lens' social graph and all its existing users by importing all graph accounts as curated traders into the application and create preliminary profiles for them. Using on-chain analytics CoinLoop is calculating profit and loss as well as credit scores of the accounts to populate data in trader's profiles. This way the social network is quickly filling up with a database of accounts, can rank them and calculate what we call a "correlation score" with users that sign up to CoinLoop to find traders to follow. The correlation score is taking preferred tokens of users into account and matches their preferences with the actual tokens being traded by the active traders.

Users following other traders can use Push Protocol to receive mainly three signals directly to their wallet:

1. Your followed trader makes a swap and you get notified
2. Your followed trader published a new post
3. You activated copy-trading of your followed trader but you can't serve the swap due to missing funds in your wallet

This adds a whole new functionality to a decentralized social network such as CoinLoop.

Push Protocol is a Meta Mask Snap application. Therefore CoinLoop makes use of Meta Mask snaps as well.

Signing into CoinLoop works through Wallet Connect which is another partner technology. This is needed to create a seamless and easy user onboarding and log-in process. Crypto user own different kinds of wallets and having Wallet Connect implemented in CoinLoop helps us to serve all compatible wallets.

One key feature of CoinLoop is not just following traders to receive alpha from them via signals but also the option to simply copy trade your favorite traders. This feature is enabled by self-executing smart contracts deployed on Polygon and Arbitrum main net. This feature is particularly hacky. CoinLoop is monitoring the followed traders actions and when a swap is executed, the same swap will be initialized on the user account through the smart contracts respective to his USD value of the swapped token holdings.

This feature is especially interesting since CoinLoop as a Lens App can help expert traders to monetize on their followers in future. Each copy-trade initiated by followers could grant a small commission to the followed trader, baked into the smart contract logic of the copy-trade smart contract.

Lastly, CoinLoop is allowing users optionally to opt-in for donating a fixed percentage of 5% of their winning trades initiated through CoinLoop copy-trading to public goods funding, i.e. Gitcoin Grants. This is particularly great cause it can be automated inside CoinLoops copy-trading smart contracts. Users can opt-in when signing up for the first time or manually later in their profile settings. They will earn a "donator" badge to their profile and lens handle.

This combination of technologies allows us to build a seamless platform that analyzes on-chain data, creates trader profiles, powers social engagement, executes copy trades, and integrates wallet-based notifications - unlocking unique value for crypto traders.