HollaEx 2.11 (Raki)

🥛 Raki v2.11: New Referral System, quick deposits/withdrawals search and a brand new peer-to-peer trading system

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Step into the future of crypto white-label exchange technology with the highly anticipated release of HollaEx® Raki v2.11! This update brings a wave of innovation, enhancing user experience with streamlined deposits and withdrawals, and empowering users to more easily promote and earn bonuses using th new referral system.

Read the short-form version of the update on our docs release page.

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For more details, let's dive into the exciting features and improvements in this latest iteration of our white-label exchange software. 👇

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👥 New referral system

The first major feature in v2.11 is the new advanced referral system. Accessible on the Summary page labeled 'Earn commissions' and 'INVITE YOUR FRIEND'. The referral is visible every time a user first logs into the exchange using HollaEx® white-label. This new referral allows users to self-generate up to three referral codes which are URL links that can be easily shared with other people so they can easily sign up (admin can issue unlimited codes).

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The system includes improved referral history tracking and a settlement step for the user to self-claim their accumulated earnings.

Users can now add a custom trading discount within their referral codes (for example a custom % trading fee discount can be given to the friend), benefiting both the inviter and the invited friend. This feature makes it easier for users to promote the platform and to increase engagement and trading activity by offering these incentives.

The new referral system also allows the user to self-generate up to 3 codes for themselves. The admin of the exchange will have the power to issue more referral code links for a user. This will be covered more in detail later in this newsletter.

The new referral also now requires the user to settle their earnings. This settlement step can be done periodically by the user themselves by clicking the 'SETTLE button'.

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Admin Referral Controls

Admins can configure the referral system in the Operator Control Panel under 'General' > 'Features'. Settings include adjusting the currency type for earnings, setting the earning rate, defining the earning period, and specifying the Distributor ID (this is the account that will automatically send funds for all the referral earnings).

Admins can create custom referral codes for specific users, exceeding the default limit of three referral codes per user. These custom codes can include tailored discounts for affiliate marketing needs.

The referral system can be turned on in the admin’s Operator Control Panel on the ‘General’ page > ‘Features’ tab.

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When the admin turns on the referral systems, a pop-up will display additional referral settings. These include adjusting the currency, the earning rate (how much the referee will earn), the earning period (setting zero means discounts will last forever), minimum amount in order to claim earnings (settle), and the Distributor ID (account ID that funds the earnings, typically the account receiving profits from trading fees).

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Admin manual generated custom codes

The user profile page will now feature a new powerful admin-only option that allows admins to create additional custom referral codes for specific users. This feature is targeted professional affiliate marketers that may need more than 3 codes and a specific custom (example 'hollaex2024'). These custom codes can be issued to users who have reached their maximum referral code limit but need more for marketing purposes. This enables admins to provide extra codes with perhaps a larger discount or earning rate for special users that have skills in affiliate marketing, for example content creators or business sales personal on the team of the exchange, etc.

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⚠️ Note: A plugin is available to help currently active exchanges convert their old referral system to the new 2.11 version of the referral system. This plugin can be obtained upon request by contacting support at HollaEx®.

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⚡ Quick search deposit and withdrawals

With HollaEx® now supporting over 100+ digital assets, finding the asset you want to deposit or withdraw can be tricky. In version 2.11 we've simplified this by allowing the user to simply input a coin's name or symbol into a search field. This new search deposit feature reduces the deposit process clicks and steps by about ~66%.

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Deposit links have also been placed in various strategic locations around the exchange to help encourage activity and engagement on the exchange.

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In addition it is easy to share a specific coin's deposit details to your user base. For example https://pro.hollaex.com/wallet/usdt/deposit will display all the deposit information steps for USDT allowing new user to quickly learn the steps to take important actions. This same URL logic will is applied for withdrawals also, for example https://pro.hollaex.com/wallet/usdt/withdraw, making it easier to share important functionality of your exchange.

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🔁 Peer-to-peer trading (P2P)

HollaEx® v2.11 introduces an advanced P2P system, significantly enhancing user interaction and trading. Users can now advertise offers, engage with available listings, and complete transactions securely and privately. Additionally, the new public P2P 'Profiles' page allows users to review and track the success rates and reputations of all P2P participants, allow individual users to be informed before making their P2P trades. This new profile and reputation system will be further built up in the future to help foster trust in this new trading feature.

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Advertise and Discover P2P Offers

The new P2P system allows users to advertise their offers and for others to see all available offers. Users can interact with these offers, specifying the amount they wish to buy, and reviewing their counterparty's payment details and reputation and reliability.

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The admin when they want to setup the P2P exchange feature can designate the user account level required to trade on P2P, and another user account level to become Vendor (AKA: Merchant). The vendor is a special user that can create public P2P deals for others to interact with. Vendors are the sellers of crypto such a USDT, etc. (vendor crypto buying functionality will be coming soon).

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Streamlined P2P Interaction and Payment

The system guides users through the steps to finalize their transactions, ensuring they establish the amount to trade, chat with the vendor and agree on payment details and process. Both parties can communicate directly with each other and confirm via chat the stage and stages of the transaction.

Once the vendor checks that they have received the fiat payment within their bank account (or other payment system's account) the vendor can now mark the order as complete and released to crypto to the buyer/user.

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Private and Flexible Transactions

This P2P process enables users to transact more privately and agree on various payment methods off the exchange. For example, parties can use payment providers that they are familiar with locally and use their accounts off the exchange to conduct the P2P transaction, while the exchange ensures transparency of all parties involved and manages the final release of the crypto and for settlement. All records and pricing for the P2P trade are maintained on the exchange, providing extra transparency and clarity to conduct business.

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The payment details for the fiat side of transactions can now be customized with localized payment accounts. For example, while PayPal is used globally, services like Paytm in India, UnionPay in Thailand, and Xendit in Indonesia are more region-specific. Vendors can manually set these local payment providers individually. When users interact with a P2P deal, the various payment details from different methods will be easily shared and displayed to them.

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Building Trust and Reputation

All regular P2P users and vendors have a P2P profile page that tracks their success rates and reputation. Positive transactions and prompt service enhance a user's reputation within the exchange network. Conversely, users who fail to fulfill their promises and receive negative feedback will have this visible to everyone on the exchange, warning others before entering a deal. In cases of repeated abuse, admins can ban the user or impose other limitations. Admins have full oversight of P2P interactions and tools to resolve user disputes.

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Admin P2P

Behind the Scenes

A new P2P page on the admin's Operator Control panel located in the Markets>P2P. To make the P2P trading visible page visible to users the admin must click the enable switch.

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The rule set for the whole P2P system comes down to 6-steps. The admin must carefully complete each step:

1. Set the trade direction for the vendors. Vendors (market makers) currently can only sell crypto at this point (vendor buying crypto from user is TBA)
2. Set the crypto asset that the vendor can sell (BTC and ETH as well as other stablecoins are coming soon)
3. The fiat currency allowed (this is fiat payment details that the buying user will need to know in order to pay the vendor)
4. The account levels required to be a vendor (seller), and regular user (buyers). These account levels may include KYC or other requirements set by admin.
5. Payment methods (Bank transfer, PayPal, etc.). Admin can create new payment methods and create the payment detail fields that vendors will later fill for themselves.
6. Define the account that will receive all the profits made from all the P2P trading fee activity, and set the fee rate for both vendor (seller) and regular user (buyer).

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P2P Dispute Process

In case of disputes between a user and a vendor, the admin can interject and act as an arbitrator. The admin can manually handle the dispute through off-exchange communication channels, requesting information and proof of transactions or other evidence to assist in resolving the issue. Once all necessary steps have been taken to reach an equitable solution for all parties, the admin can resolve the 'Disputed Order' and mark it as 'Closed.' A record of the reasoning behind the admin's decision will be logged within the exchange.

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Stay tuned for the release of HollaEx® v2.11 and experience a more secure, flexible, and user-friendly P2P trading environment!

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🛑 Withdrawal restriction

The admin can now restrict a specific user's withdrawals by imposing a temporary (48 hours) or permanent ban on all fund withdrawals. This feature can secure an account for 48 hours if suspicious activity is detected, allowing the user to log in and use other features on the exchange without issue. This withdrawal block can provide users time to resecure their account if they suspect it has been compromised. Additionally, the feature can prevent unauthorized access and withdrawal of funds in cases of potential fraud or identity theft, ensuring the safety of user assets during investigations or verifications.

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🙂 Many new coins added

HollaEx® has listed new coins like BSV, AMP, ZRX, OCEAN, ZETA, BAT, KSM, ID, and more. Check out our Twitter (X.com) page for the latest coin listings.

These additions help exchange operators earn passive income from trading fees, deposited directly into their wallets after settlement with the HollaEx® Network.

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Other Updates

New HollaEx® YouTube videos:

- Fiat Controls (on/off ramps):

- CeFi staking setup flow:

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- User CeFi staking flow:

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- HollaEx® community review by Acquaviva:

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Update to ‘Fiat Controls’ on HollaEx® docs:

• https://docs.hollaex.com/how-tos/fiat-controls (on and off ramping setup)

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HollaEx® interactive demos for the exchange start dashboard:

• Paying for your white label exchange and verification
• Email SMTP setup (exchange automated emails)
• Cloud Setup (request cloud 2-week trial here)
• On-premise Setup (request an on-premise 2-week trial here)

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🥛 Raki HollaEx® v2.11: The most powerful online business toolkit

Raise a glass of Raki to version 2.11, we’re enhancing digital businesses and driving your crypto platform to success with P2P trading, fast deposits and advanced referral systems. Get started or upgrade your business today with HollaEx® and start going global.

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Why Choose HollaEx®?

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