Part Two: A Look At New Exchange Integrations And Partnerships
The Second Segment Of A Four-Part Write-Up On The Future The Compendium.Fi Trading Platform And PENDAX
We will be exploring the new platform release, concepts, and technology employed in this new series as we finalize development and get ready to deploy an all-new trading system.
Part 1: Exploring Platform Upgrades Scheduled For Release This Month
Part 2: New Exchange Integrations & Partnerships
Part 3: The Introduction of New CMFI & Compendi-Pig NFT Utilities
Part 4: PENDAX, Changing The Trading Industry Forever
Part 2: A Look At New Exchange Integrations And Partnerships Releasing With Our New Platform And System Upgrades.
Interconnected trading tools are essential to an efficient market system. This belief has helped drive development forward as we designed our new system upgrades around PENDAX.
PENDAX, short for ComPENDium Aggregated eXchange tooling, is our new proprietary trading engine that powers our user-facing application in parallel with our industry-leading load balancing database system.
The launch of PENDAX allows our trading tool systems to post faster than competitors, offer more advanced customization control, and allows our team to build and provide new products for our users continuously. More detailed information about PENDAX will be covered in Part 4 of this series, however, it’s now time to discuss the integration potential this technology brings to our system.
Creating Waves By Scaling Integrations
Version one of our trading tool platform launched with dedicated support for FTX users as we also started to build out decentralized trading tools on the Solana network.
Since its inception, our platform has successfully posted an estimated $400,000,000 in volume to a single exchange, FTX International. This was accomplished with organic marketing growth and user acquisition (that fell in line with our token and NFT launches, as well as major product launches like copy trading and more).
While we have favorited FTX for some time as our sole integration, its important for our platform to now expand and offer trading tools for users in different regions on a growing list of what we consider “deeply liquid” cryptocurrency exchanges. Platform expansion and overhauls during current market sentiment allow our team to strategically place our technology at the forefront of the industry in preparation for the next wave of users. Our team has been in conversation with a growing list of exchanges in regards to brokerage partner relationships, specialized integration services, and more. We’re now excited to share some insight on new platforms launching with our system upgrades. These platforms will also be included in our open-source module, PENDAX, for all developers to build custom integrations in a simple manner.
The new exchange integrations will launch in waves. The first wave of integrations will be live with the launch of the new platform and each wave will follow shortly after as we finalize testing deployments.
Wave One Of NEW Exchange Integrations (CEX)
New Exchange Number 1: FTX.US
It’s important to the growth of our platform to also offer tools to users blocked from the traditional FTX International platform. By also including FTX.US we can now integrate our popular tools to new users and new markets.
New Exchange Number 2: OKX
Our team has been working closely with the OKX platform to deliver the most comprehensive trading tool environment available for their users to date. We’re excited to continue to work alongside more industry leaders and will be including their platform in the wave one launch sequence.
New Exchange Number 3: ByBit
ByBit, along with OKX has seen massive user growth with their new marketing campaigns in Formula 1 and other ventures. The Compendium.Fi team is also working closely alongside ByBit to deliver an improved trading tool integration experience in the wave one launch sequence and PENDAX modules.
Wave Two Of New Exchange Integrations (CEX)
The second wave of exchange integrations for all platform tooling will follow shortly after launch and include some more of our community's favorite trading platforms. Users can expect to see integrations for Binance, Huobi, MEXC, and more in succession. A growing list of platforms will continuously be added after the second wave of integrations goes live. More updates will be supplied to our community through social channels as these details are finalized and new partnerships are announced.
A Formula For Success
User incentivization integrations along with hackathons we mentioned in Part 1 will play a key role in increasing platform usage. Through estimations along with comarketing and other campaigns, we can conclude that volume posted through the Compendium.Fi tooling suite will reach at least $3 — $4 billion per year. These numbers are dependent on current market sentiment and with a large shift in users and new tools being added to our system we can expect these numbers to rapidly change. This estimated volume also doesn’t include numbers posted by developers, traders, and other platforms who wish to utilize the PENDAX modules. Due to its open-source nature and simplicity, we can estimate that PENDAX volume will eventually dwarf that of our retail-facing environment.
More Advanced Trading Tools For Each Exchange
Expanding total exchange integrations is vital, however, placing further emphasis on the underlying trading tools is just as important.
Our current system is pretty “bare-bones” in comparison to what the upgraded systems can provide for users. We’ve integrated every single order-type possibility for all trading tools and signal systems. In doing so, we provide the ability for our users to customize their own strategies and trading systems on a deeper level. These advancements are made apparent in the new verified trading bot system, copy trading groups, and signal provider service. We will also be going to long lengths to finalize and launch our own aggregated trading terminal (both simple and advanced) to allow users to trade whatever markets they want on one professional interface. A focus on data availability through PENDAX also provides an institutional-ready experience for all users.
Further Progress Into Decentralized Markets
Upgrades to our Solana DEX and tool suite are on schedule to release around the same time the new trading tool infrastructure hits the market. We took a distinct path with the new DEX interface with an emphasis on user experience and overall integration offerings. Some new pages from the DEX include Metaverse Markets, Token Lookup, Yield Analytics, and more built directly for the Solana ecosystem. These offerings will be supplied alongside reworked architecture we have available currently like our Spot Markets and Smart Swap.
Our goal for decentralized markets does not begin and end with Solana. Although we are currently testing out vaults and other unique products for this ecosystem, the team is looking into the future and preparing for cross-chain deployments to both Ethereum and Binance Smart Chain, to begin with. There is an emphasis on finalizing integrations for Solana before these new portals are made public, however, progress is also being made in this sector to introduce our platform to users of different decentralized blockchain networks. More information on this process will be made public with our new platform launch on several different informational pages.
What is Compendium Finance?
The Compendium.Fi platform is built to offer traders a comprehensive suite of tools for a list of growing ecosystems. Our consumer-facing application is split into two separate entities.
One side of our trading tools focuses on integrations with popular and liquid centralized exchanges, while the other side focuses on improving the on-chain trading offerings of decentralized protocols built on Solana (with more chains to come shortly).
Automation and simplicity are key to all of our offerings. We’re here to help make crypto trading easier for everyone. Subscribe to bots, make your own, copy friends, or manually trade across multiple ecosystems in our intelligent interfaces.
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Find out more about CompendiumFi.
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None of the above should be utilized as financial advice. You are responsible for your own financial decisions. Please make sure to do your own research before investing in cryptocurrency protocols or digital assets.