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Mizar Launches MZR Token on Arbitrum, Reveals DeFi Ambitions

Mizar, a social trading platform, has announced that its $MZR token will launch on Arbitrum on March 9th. In addition, the platform, which has already attracted more than 10,000 active users, has disclosed that it intends to introduce automatic and copy trading features on centralized and decentralized exchanges.

The launch of the MZR token is good news to traders, as it will reduce trading fees on the platform by up to 95%. The token will also be used as the reward token on Mizar and will also enable staking and access to new features. The token’s launch is key to enabling Mizar meet its key objective of establishing itself as the go-to platform for crypto social trading.

Relevance of MZR launch and Mizar’s DeFi ambitions

In its initial development stages, Mizar focused on creating trading tools for Centralised Finance (CeFi) platforms. In the coming next phase, the platform says it will concentrate on building DeFi-centric trading tools. These advancements will enable users to automate their trading strategies by employing sophisticated but user-friendly trading tools on DEXs.

Following its scheduled launch on Arbitrum, Mizar is already in discussion with several projects on the Arbitrum ecosystem to establish products that will promote DeFi trading. MZR will be available on Uniswap from March 9th.

By combining these features with the Mizar copy-trading engine, these resources make it easier for newbies to trade crypto profitably. On the other hand, experienced traders get the chance to increase their earnings while maintaining custody of their assets.

Mizar is leveraging the power of AI and automation to help traders increase their success rates in the digital assets market. This is critical to realizing its goal of establishing a strong foothold in the crypto trading market by enabling users to track and manage their orders across both CEXs and DEXs. Nexo, KuCoin Labs, Huobi Ventures and Kronos Research are among the leading investors on Mizar.