Empowering a newly launched centralized crypto exchange with a market-making bot
Empowering a newly launched centralized crypto exchange with a market-making bot
Deep liquidity via third-party exchanges
Automated order execution between accounts
Industry:
FinTech
Delivery:
2 months
Services Used:
See how Ekotek helped bring a centralized cryptocurrency exchange to life with quick solutions to gradually enlarge the liquidity pool and stimulate trading activities, while keeping the platform monitored and the pricing stabilized.
Competition is fierce in the cryptocurrency market, particularly trading – there are nearly 600 exchange platforms worldwide at the start of 2023!
It is indeed a challenge for new platforms to gain awareness, trust, and ultimately transactions from the trader community.
That’s why a Japan-based DeFi startup with a freshly launched centralized exchange came to Ekotek for support: they need an innovative solution to significantly lift the platform liquidity pool, while also facilitating better trading experiences.
Upon receiving the request, our team of finance and blockchain specialists carefully researched the industry domain and analyzed the platform to propose the development of a market-making bot with two main functions as follows
Automated order execution: The bot will sync orders from the centralized exchange’s order book, analyze them then execute natural orders between accounts that belong to the platform. Orders placed by the bot will then be processed by the platform and appeared in the live order book.
Liquidity provision: The bot integrates with various third-party exchanges to enhance the liquidity pool and reduce price slippage for platform users. Our smart algorithms will receive customer orders, then compare trading pairs on different exchanges to come up with the optimal rates.
Management-wise, admins can easily monitor the order book, make quick calculations and customize the algorithm for order placement according to demand. Additionally, parameters for abnormal activities, such as price fluctuation and high-value transactions, can be set so that admins can be notified every time such an event occurs.
The bot was agilely prototyped and built in just 2 months, followed by continuous tracking & optimization. After deployment, the crypto exchange recorded a 300% increase in trading volume and bid size orders, which fueled organic growth in traffic and registered users to the site.
The client was utterly satisfied as the final product was delivered and perfected within such a short time frame, by a full-service team with extensive experience in centralized and decentralized exchange platforms.
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Dylan Dong Do is a seasoned leader with over 15 years of experience in business management across both product and ITO companies. Under his leadership, Ekotek has grown from a small team to a thriving organization of over 200 skilled professionals in just 5 years.
Throughout Dylan’s career, he has achieved remarkable success. In 2009, he played a key role in developing batdongsan.com.vn, establishing it as Vietnam’s top real estate listing platform. In 2018, Dylan was promoted to Chief Operating Officer of VTI, driving VTI to exponential growth from a 30-member team to a robust force of over 300 staff.
With a desire to integrate technological advancements into everyday life, Dylan Dong Do founded Ekotek. He consistently updates his knowledge and skills in advanced technology to orient the company, ensuring that it stays at global trends and better serves the needs of customers.
