South Dakota Patent of the Month – October 2022
One of the limiting factors to the growth of crypto trading is the hoops that you need to jump through. From requiring special online wallets to complex conversions, crypto was largely left to those with higher knowledge-levels on the subject. Coin Lion, LLC (CoinLion) has set out to make crypto trading simple, bringing a user intuitiveness that did not previously exist.
Formed in 2017, the company has been working towards a secure, U.S.-based exchange platform with automatic trading capabilities. This is no easy feat, requiring a complex infrastructure to support both the trading aspect and the community of experts and newcomers. With such an undertaking, much of the development has led to proprietary technologies. In fact, the company has recently been granted a patent for their proprietary communications system.
CoinLion’s communication system allows for the communications of a single user to be copied across multiple other users. Duplicating these communications allows for the same actions (e.g. buy, sell, hold, etc.) to be performed on numerous accounts. CoinLion has developed this unique communication strategy to support their unique functionality: users can copy best-performing crypto traders.
A user could subscribe to other traders on the platform and the system will automatically make trades based on their trading strategies. The copy capabilities of their communication system make this process rapid and painless, with minimal overhead on the system. Between their CopyCat Marketplace and the ever-advancing technology, CoinLion is well on their way to making crypto trading an every-man’s game.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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