Dear Automated Traders

An open letter to those using centralized exchanges

Alan Curtis
Jul 11, 2018 · 2 min read

Thank you for helping bring tokens to the masses. Thank you for creating liquid markets on new venues.

We’re sorry you had to lose so much money in hacks. We’re sorry exchanges are always down for maintenance. We’re sorry you miss trades because your API keys are periodically invalidated.

Although the centralized exchanges you’re used to mimic the experience and functionality of traditional financial exchanges, their security models are VERY different. Unlike traditional financial exchanges where assets are permissioned and tied to identity, tokens live on permissionless blockchains, which means there is no way to claw back your assets if they are stolen.

With the recent hacks of centralized exchanges you are now forced to handle both market risk and operational risk. Trading venues burdening you with operational risk is unacceptable. You should be focused on maximizing returns and minimizing market risk, not wondering if your tokens are safe.

We feel your pain and we built the solution. Radar Relay mitigates operational risk with wallet-to-wallet trading. Users trade directly with each other, from their own wallets, and the trades settle using the Ethereum blockchain. There are no deposits and your tokens stay safe with you throughout the entire trading process.

Ready to get started? Use our REST API to get data for backtesting, take your first steps with our example trade bot, or jump straight to market making with our SDK.

Sincerely,

Alan Curtis

CEO

RADAR

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store