130 sats \ 0 replies \ @DiracDelta OP 8 Jun 2023 \ parent \ on: Building the world's lowest fee bitcoin-only exchange bitcoin
No, we were going to connect to an API service that would have given us the ability to put orders directly on a large exchange orderbook, as opposed to the RFQ process that many of the smaller apps use. https://bitcoinmagazine.com/markets/ftx-collapse-cause-huge-bitcoin-price-spike
That part lowers the spread, and to lower the fees, there were three things:
  1. Having a subscription fee instead of a transaction fee, which would have been a very low effective percentage (multiple tier options based on volume)
  2. Selling hardware products at a very low margin, undercutting all the other node suppliers as part of subscription, and not using junk Raspberry Pi. Also, seed hardware. Lots of low hanging fruit. e.g. https://21baller.com Would have duplicated projects like SeedHammer, TinySeed.
  3. I didn't even really want to build an exchange, I saw it as an auxiliary product to WageVest / Caliber Contracts, which you can see a brief overview of here: https://contracts.runcaliber.com
Also described sporadically across posts here: https://heaviside.substack.com
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