To maintain complete transparency with our users, we at Bitrue wanted to share a summary of the things we achieved at the end of last year, and where we see ourselves going forward in 2020.
The final quarter of 2019 saw the launch of the new Bitrue Loans feature, making Bitrue one of the first in the industry to offer a crypto-backed loan service. The launch of this service was a game changer for Bitrue, as it was rapidly adopted by the user base and the amount of funds loaned out is increasing by millions of US Dollars every month. Bitrue’s vision has been to create a financial services platform on top of an exchange, and the latest step towards this has been the launch of lock-up investments in Q4 which allows users to stake their coins for a fixed period of time in order to receive special interest rates. The first round of lock-up investments has been completed with the second round currently underway. The excitement from the community for these opportunities has been very encouraging and the investment caps for both rounds sold out within hours of opening.
In November Bitrue focused on improving several of its internal systems, to ensure the foundation of the platform was ready for further growth. Improvements to the risk control and anti-fraud systems were implemented in response to a growing number of users who were attempting to fraudulently claim rewards. We also improved our user flow to make the onboarding and continued use of our platform more convenient for users. This has resulted in a 170% increase in the conversion rate for new users (users who come to the site and then subsequently create an account).
Finally, in December Bitrue focused on improving liquidity and trading depth to improve the trading experience for customers. Depth improvements were achieved via integration with 3rd party trading systems, while new market maker incentives and onboarding programs helped ensure liquidity on all pairs and safety for users when trading. Bitrue is currently ranked 14th for liquidity on CoinMarketCap.
BTR Roadmap for H1 2020
In the first half of 2020, Bitrue plans to release several features related to its own platform token BTR. These features will focus on more tightly integrating BTR into the financial services offered on the platform, as a means of increasing the utility of the token. The listed timeframes are targets and are subject to change.
February — VIP cap system will be expanded. Users will be able to stake their BTR in order to participate in the lock-up investments even when community caps have already sold out.
March — Trade history exports will be available in CSV format. BTR holders will also be able to receive a reduction in interest rates on their loans according to the amount they hold.
April — Addition of a feature to convert small amounts of leftover coins into BTR (Dusting). Trade interface will be upgraded to support a 4h K line. The Bitrue mobile app will begin to support loan functionality.
May — BTR holders will be able to increase the interest rates on their lock-up investments.
June — 3rd party insurance for lock-up investments will be provided.
Our previous commitments towards BTR can be found in a previous article here.
We will continue to build a platform that goes beyond a simple exchange and instead offers a wide range of financial services to users all over the world, building out a suite of defi products focused on the blossoming cryptocurrency industry.
Everyone here at Bitrue will continue working hard to ensure the long term health and growth of the platform. We hope you’ll be with us for the whole of 2020! If you’re not yet a Bitrue customer, come find us at www.bitrue.com