Oct 03, 2023
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Service categories
Service Lines
Software Development
Design
IT Services
Domain focus
Technology
Subcategories
Software Development
Business Software
Design
Digital Design
IT Services
Staff Augmentation
Challenge
Competition in the cryptocurrency market, especially in trading, is intense, with nearly 600 exchange platforms worldwide as of early 2023.
For new platforms, building awareness, trust, and gaining transactions from the trading community is a significant challenge.
This is precisely why a Japan-based DeFi startup, following the launch of its centralized exchange, turned to Ekoios for assistance. They sought an innovative solution to substantially increase liquidity and enhance the overall trading experience.
Competition in the cryptocurrency market, especially in trading, is intense, with nearly 600 exchange platforms worldwide as of early 2023.
For new platforms, building awareness, trust, and gaining transactions from the trading community is a significant challenge.
This is precisely why a Japan-based DeFi startup, following the launch of its centralized exchange, turned to Ekoios for assistance. They sought an innovative solution to substantially increase liquidity and enhance the overall trading experience.
Solution
Upon receiving the request, our team of specialists conducted industry research and platform analysis. This led to proposing a market-making bot with two key functions:
Automated Order Execution: The bot syncs orders from the exchange's order book, analyzes them, and executes orders between platform accounts, which appear in the live order book.
Liquidity Provision: The bot integrates with third-party exchanges to enhance liquidity, reducing price slippage. Smart algorithms optimize rates for customer orders.
Admins can monitor the order book, customize order algorithms, and set parameters for anomaly detection.
Upon receiving the request, our team of specialists conducted industry research and platform analysis. This led to proposing a market-making bot with two key functions:
Automated Order Execution: The bot syncs orders from the exchange's order book, analyzes them, and executes orders between platform accounts, which appear in the live order book.
Liquidity Provision: The bot integrates with third-party exchanges to enhance liquidity, reducing price slippage. Smart algorithms optimize rates for customer orders.
Admins can monitor the order book, customize order algorithms, and set parameters for anomaly detection.
Results
The bot was rapidly prototyped and developed within a mere 2 months. Continuous tracking and optimization followed suit. After deployment, the crypto exchange experienced a remarkable 300% surge in trading volume and bid size orders. This organic growth significantly increased website traffic and registered user numbers.
Our client was delighted with the final product, which was delivered and refined in an impressively short timeframe by our full-service team with extensive expertise in both centralized and decentralized exchange platforms.
The bot was rapidly prototyped and developed within a mere 2 months. Continuous tracking and optimization followed suit. After deployment, the crypto exchange experienced a remarkable 300% surge in trading volume and bid size orders. This organic growth significantly increased website traffic and registered user numbers.
Our client was delighted with the final product, which was delivered and refined in an impressively short timeframe by our full-service team with extensive expertise in both centralized and decentralized exchange platforms.
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