What’s in the works: Updates and changes to margin trading
Hi
In our quest to improve the trading experience for users we have been working to make a lot of under the hood releases. You would have seen the revamped UI on the website and we have been working on making the trade engine a lot more performant and faster. The updates would be rolled out over the month.
Changes done till now
- Bitbns accepts highest amount of deposits for a user account.
- Bitbns allows withdrawals of upto 1 crores per day via instant method. Highest in India
- We have added around 12 new defi coins and are ramping up capacity to bring a lot more tokens in the coming few weeks. Bitbns supports the highest number of tokens with deposits and withdrawals enabled on them in India
- Resolution speed. We added whatsapp support and have in the less than 30 days attended over 10000 user chats and resolved 95% queries in less than 30 mins.
- Our ticket resolution also has maintained over 90% positive rates
We are now working on trade engine improvements which would improve the matching capacity by a factor of 500x and make it swifter.
Additionally we are also revamping a few of the sections out there.
FIP we have ensured would come consistently now every friday
API level changes are in progress for further ease of use for users
And we are making a major change to margin trading section. Crypto over the last few weeks has been really volatile and there have been coins where there have been
We are now introducing a more advanced risk mitigation engine which would monitor open margin positions in real time. So whenever you are at the risk of liquidation Users would receive an intimation via a notification on the web and also as a mail when they are nearing liquidation (10% before). This is especially useful as at times the margin positions can get worse if not closed in real time. This makes the system more robust and efficient to counter extremely volatile coins and we can add additional leverage to coin pairs. Bitbns margin trading section is fairly transparent as it shows all open orders from borrowers and lenders. We would be adding an option of isolated margin soon where from the order panel itself you would be able to place a leveraged order directly.
