Post
Topic
Board Project Development
Re: Test for free our new futures exchange, and get paid bitcoin!
by
Kelvin Santos
on 02/07/2021, 22:12:10 UTC
I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.
I can imagine scenario when you could profit a lot with your trade but ''conveniently'' website crashes and you don't earn anything.
This is not so hard to imagine because I think that both Bitmex and Binance had this ''glitches'' before.

One problem with both exchanges mentioned is that, at least as far as I am aware of, your position can be auto-deleveraged at a price that is totally unrelated to the current orderbook. So the exchanges can have "glitches" and all the profit from a position are simply gone, and you may even lose money!

I find that totally unacceptable, and this is not what happens in our exchange. If you have a long position, and the last price before the crash is $34,000, you may get your position auto-deleveraged, but we'll always close your position at a price higher than $34,000. While it may well be that prices rise to $40,000 and higher later on and you don't get the full profits you might expect, at the moment we crashed we could not have possibly known that, and so we cannot "conveniently" crash to deny profits to our users.

In many other exchanges, if someone with a highly-leveraged position is lucky to close its position before the auto-deleverage triggers (maybe by having set a limit order previously), they can get away with their profits while the othere who are not so lucky get their profits stolen from them or even see their trades become negative. So I don't quite think the these two exchanges are hurting their users on purpose, I just think their system are not very well designed. And honestly I can totally understand them, as solving this problem requires having the liquidation/auto-deleverage process running synchronously with the matching engine, which is quite hard to do! It took months of effort for us to get it working, and we have carefully considered this problem from the beginning!

I just returned interface to it's original state but I think it's better to remove deposit and withdrawal box and move it to top menu.
Balance could also be seen on top or tab instead of using the box, but you could make this change optional and users can choose what they like more.

I think you may be right. We'll be experimenting with having the balance on the top. This leaves more space in the position panel, and this may let us show the PnL of the position in real time!

After i register i spent some time to see funcionality and tabs for trading, assets etc. From my point of view platform runs good. Visual is fine, functions runs without problems. Need more time to put detailed opinion, write what should mention you could change, make better, user friendly and so on. Not bad for first day usage.

Thanks for the positive feedback!