Strike Opens Copy Trading to Its Own Traders

Strike Finance opened its copy trading feature to traders on its own platform on September 23. Users can now select a Strike lead trader and copy positions through the existing interface. The expansion gives the perpetuals project, which first launched on Cardano, a new source of strategies from its own trading community.

Strike Traders Can Become Lead Traders

A trader active on Strike can list as a lead trader for other users to follow. Followers browse available traders, choose one and allocate funds to copy that trader’s positions. According to Strike, the lead trader receives 10% of the profits earned by followers.

That payment depends on followers making a profit; listing as a lead trader does not itself generate income. Followers remain exposed to the risks of perpetual contracts. Leverage can magnify losses and lead to liquidation, regardless of a lead trader’s previous performance.

How Copy Trading Differs From Strike Vaults

Strike’s vaults allow users to deposit capital into a pooled account managed by a vault leader. Copy trading instead mirrors a selected trader’s positions using the follower’s own allocation. The distinction affects how users participate: vault depositors share in the results of a managed pool, while copy trading follows the activity of a chosen trader.

Before the September expansion, Strike sourced its copy trading strategies from Hyperliquid accounts. Strike reported more than $13.6 million in copy trading volume during the feature’s first three weeks. That figure covers the earlier rollout and cannot be used to measure demand for Strike’s newly eligible lead traders.

The expansion also changes the opportunity for traders already using Strike. They can build a following through copy trading without setting up a vault or managing pooled deposits.

What the Expansion Means for Cardano

Strike V1 launched as a perpetuals platform on Cardano. In Strike V2, a dedicated layer handles trade execution, while contracts on supported networks handle custody and settlement. Copy trading activity on Strike therefore does not necessarily translate into trading settled on Cardano.

Strike’s published staking model distributes its share of opening fees to eligible $STRIKE stakers. Those fees are separate from the 10% profit share paid to lead traders. Strike has not reported copied volume or fee revenue from its newly eligible traders, or identified the networks on which their followers’ activity settles.

Strike traders are now available as lead traders in the live product. Their contribution to Cardano settlement and $STRIKE staking revenue has yet to be reported.