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Lightweight client Alpha Testing Checklist
This is a feedback form for potential participants in the Lightweight client Alpha Testing from skalex GmbH. Please provide feedback until 7th of February 2020. Please find a description of the Lightweight client project below:
Project Abbadon, Lightweight client
The lightweight client is a sleek UI-only version of the exchange that opens up a new market. Currently, exchange operators are forced to use a full-fledged exchange setup to be able to operate their business model, which is „being able to monetize the trading activities of cryptocurrencies that want to enter the cryptocurrency hype“.
A full fledged exchange setup requires to
· Provide substantial internal or external funding.
· Have either an exchange software ready to use or develop a software with a technological service provider.
· Onboard a technical team for the technical platform.
· Contract lawyers to be able to acquire a license for the operation of the exchange.
· Employ a support team in the background that will manage end customers.
· Contract a compliance officer for implementing the regulatory requirements as AML/KYC system.
· Conduct Marketing campaigns to attract users to the platform.
All steps mentioned above take around 2 years to fully implement and require a substantial financial budget.
The lightweight client provides the opportunity to monetize on the activities on a trading platform without operating the whole lot. From the infrastructural perspective, only the User Interface is deployed per lightweight client and then connected to a main liquidity node operator. The lightweight client operator then will receive a % split of any fees that are generated over the users which were onboarded by the marketing campaigns of the lightweight client operator. This approach offers following advantages for the lightweight client operator:
· Setup time is theoretically instant, as exchange infrastructure is already existent and operative since quite some time. Only delay is the branding of the user interface.
· No Compliance/support team/administrative team needed, as this will be handled over the liquidity node operators.
· No investments required, as cost efficient setup is guaranteed. Only Marketing campaigns are main cost drivers.
Following drawbacks are to be considered from lightweight client operator:
· Monetization of activities is not 100% (as compared to operating a traditional, full fledged exchange setup) but rather 30-40%.
· Customer onboarding can only be done according to the license of the liquidity node operator, resulting in only limited country coverage.
Would you like to participate in the Lightweight Client Alpha Test? If yes, please provide the Type of Client
Lightweight client - white label branded UI Only
Liquidity Node - full exchange setup to manage connected lightweight clients
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