Dear Automated Traders
An open letter to those using centralized exchanges
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.