Partner: a major cryptocurrency exchange
The initial amount of assets: 500
Monthly traffic: 386 000
Usage period: 4 months
Area of implementation: desktop exchange and mobile app
Table of contents
Part 1: Application to B2C
What was done:
The partner implemented Swapzone API into their crypto exchange platform (both desktop and mobile app) along with their own API on the main flow.
Swapzone API performed two functions:
- Expanded number of exchange offers
- Ensured smooth and uninterrupted operation of the main assets
At the request of the partner, we improved the ‘Get rate’ and ‘Create transaction’ methods to deliver more ways of customizing and filtering the desired rate and conveniently creating a transaction.
(We eagerly add convenient features for the partner in order to quickly and painlessly integrate our offer into any particular flow)
Expansion in the number of assets
The REST API automatically connected the partner to over 500 additional assets (becoming over 1000 in total) natively in-build into the exchange’s interface at no cost and time consumption for listing procedures.
Terra 2.0 & Terra Classic case:
As Swapzone was the first exchange service to support both LUNA 2.0 and LUNC following their launch in May’22, it also provided its partners with these assets immediately: all the updates are held on our side and are instantly transmitted through the API.
That is a great opportunity that not only leads to expanding the number of assets but also to the opportunity to “skim the cream” from new trending coins and tokens.
Partner’s result of 10-day hype:
72 LUNA and LUNC transactions amounting to 3032 LUNA and 104 128 000 LUNC
(could have been lost or much lesser due to long and expensive listing procedures)
A backup technology
Swapzone API replaced the partner’s API in situations of any planned or unplanned technical maintenance, so the exchange does not lose any clients and money.
Monero (XMR) shutdown case:
Сrypto coins’ and tokens’ infrastructure is quite sophisticated in maintaining adequate performance — a coin could be turned off or disconnected from the exchange provider for external reasons at any moment, leading to loss and customer dissatisfaction.
If the coin or token is a popular or a hyping asset the loss can be quite major.
Due to different circumstances, our partner backed up their XMR transactions (one of the popular assets) with Swapzone API several times within three months.
Three-month backup API results:
331 transactions from XMR amounting to 2857 XMR
227 transactions to XMR amounting to 5124 XMR
(could have been lost due to technical difficulties and the temporary shutdown of the coin’s infrastructure)
No loss on commission: Extra Fee (Markups)
This integration also ensured the partner did not lose any income possibilities — due to markups it is possible to include an extra fee for the derived assets to cover all the commission lacking. It is unnoticeable for an external user (an extra fee adds a tiny percentage to the basic commission) — the clients do not see any additional fee and the reputation of the service does not suffer.
For this exchange provider, the extra fee ensures the partner gets an exchange commission equal to its usual and gets the same income from every transaction held through Swapzone API as from its own — the partner has not lost any profit possibilities.
Part 2: Application to B2B
What was done:
The Swapzone API was also embedded into the partner’s referral API to strengthen its affiliate solution with stable service, competent technical support, and a larger number of assets.
Benefits:
- White-label solution — the partner sells a complemented API as its own referral tool and receives all the benefits in full. There is no mention of Swapzone as the API is integrated seamlessly and natively.
- The API product gets new competitive advantages — becomes more stable, demonstrates better performance, includes great customer support provided on the Swapzone’s end, and an expanded list of assets.
Overall Results:
Available assets: 1000 (+ 500 through the Swapzone API implementation)
As the partner used Swapzone API to expand the number of assets and back-up technical issues (the main flow used its own API), the additional profit, that the API ensured was equal to:
Monthly turnover: 61,6 BTC
Monthly profit: 0,2464 BTC
(B2B results and overall exchange profit are not disclosed by the partner)
Impressed? Take your profit and your customer retention to the next level with Swapzone!