HollaEx 2.9 (Malibu)

HollaEx continues its journey of innovation with the release of Malibu v2.9, a substantial update that introduces a host of exciting features and configurations for exchange operators. In this edition, we shine the spotlight on the staking system, numerous new coin listings, enhanced control over asset withdrawals, and Quick Trade improvements to provide a more unified experience for all assets, including OTC crypto brokers. For a short summary of 2.9 read the release notes, for upgrade details read on below:

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‍Staking Rewards

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The biggest highlight of Malibu v2.9 is the introduction of a robust CeFi staking system. This feature empowers exchange operators with the ability to create interest-bearing staking pools that pay out the token of their choice. The parameters of the pool can be set to align with their unique business requirements. The staking system allows the admin exchange operator to select digital assets on their exchange and set the APY (Annual Percentage Yield), payout source account, and other rules such as recommended duration, lock-in periods, and penalties for early unstaking. Once all the parameters are set a staking pool will be displayed to the user on the staking page under CeFi. HollaEx staking is uniquely different from your typical DeFi staking as it allows the operator to set up the parameters without having to deal with complex smart contracts and without paying expensive blockchain fees.

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The staking system being directly on the exchange also has the added benefit for users as it will be cheaper, faster, and much more similar to a regular financial product that you'd login into with your email that earns interest. The staking pools will be easily reviewable with the pool's rules and will only require the user to input the amount they would like to stake.

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When it comes to unstaking it will depend on how the pool was initially set up. Some pools can be set up to be flexible to enter and leave (this is called a ‘perpetual’ staking pool). Other pools can be set up with a recommended duration with a deduction rule (AKA, 'slashing'). The pool can even be set up so that leaving the pool is impossible until the stake is complete, or 'mature'.

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Staking allows exchange operators to offer a rewards program to their users. It also gives exchange businesses the ability to craft various types of tokenomics systems outside and have them mapped to a staking system directly on the exchange platform, clear and easy for the user to interact with.

Staking, particularly through centralized finance (CeFi) systems, is recommended for newly launched tokens seeking a controlled distribution method. CeFi staking offers advantages such as avoiding expensive blockchain fees, utilizing regular email accounts for distribution (eliminating the need for a separate wallet and private key management), and providing flexibility in adjusting staking pool settings without complex smart contract programming. This approach is seen as a safe and efficient precursor to on-chain staking, which can be error-prone and incur costly blockchain fees.

Utilizing HollaEx white label exchange software for CeFi staking ensures operators a secure and highly controllable environment. This not only caters to a broader user base unfamiliar with decentralized finance (DeFi) staking but also offers a more cost-effective, familiar, and faster user experience compared to traditional DeFi staking methods.

(If your project is ready for a DeFi staking, please reach out to HollaEx and inquire about smart contract development and consultations here.)

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New Coin Listings: Riding that Altcoin Wave

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HollaEx’s Malibu v2.9 includes many more digital assets and altcoins, covering the top 70 crypto assets (with more to come!).

These new coins can be paired up automatically against USDT, allowing users to buy and sell these new coins through the Quick Trade interface. Users only need to search for the asset's symbol. For automatic pairing, the operator is required to have USDT added to their exchange, and they will need to be connected to HollaEx Network (Voyager Exchanges do not have access to HollaEx Network Broker Deals).

A few of the most recently added assets and Quick Trade markets are TON, INJ, ICP, HBAR, GRT, CHZ, BLUR, SUI, RNDR, STEPN, OP, and many more! Be sure to follow HollaEx on X.com (AKA: Twitter) to get the latest on what new assets and markets have been listed on HollaEx white label crypto exchange.

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Operator Logs

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HollaEx v2.9 also introduces an audit system, boosting transparency and team member accountability. This feature adds an extra layer of trust to the operations ecosystem, providing confidence for all operators by providing valuable insights into each event taking place on the exchange platform.

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The operator has the capability to seamlessly track a chronological record of all events within the exchange's admin Operator Control Panel, including changes, views, and various actions such as searches performed on the user database as well as on transactions.

Essentially, every event carried out by team members is meticulously logged. This comprehensive log includes specific information about the affected user, such as the clear display of user ID, this can be particularly useful when oversight is required over members in training or for general safety operations and due diligence.

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Similarly, user activity logs for end users will soon be available. This will help end users to know what exactly has occurred on their account and will assist in building confidence in the platform by offering clear and transparent activity logs.

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Quick Trade Refinements

The Quick Trade is a vital aspect of the white label exchange, and in Malibu v2.9 the Quick Trade has been further refined and improved with all assets now showing clear market data regardless if the market is a Network Broker OTC deal or a deal originating from the public orderbook market. There are also other minor enhancements such as a clearer price quote countdown timer, as well as an easier re-quoting system for when the price quote token has expired, and other various quality-of-life improvements such as links to specific asset info pages, and market origin labelling.

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The most significant and perhaps most noticeable change in HollaEx’s v2.9 Quick Trade is the introduction of a new mini-chart toggleable for both 1-day and 7-day performance tracking for all the coins (previously only orderbook based markets would show price charting).

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Independent transaction limit configurations

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In previous version of HollaEx white label the daily withdrawals of asset would all share a set value amongst all assets on the exchange, for example if the daily max limit is valued at $2,000 only and a user withdraws $1,000 worth of BTC in a day, followed soon by $1,000 of Ethereum, the total value for the day withdrawn would equal $2,000. This would max out the daily limit and thus the user won’t be able to withdraw until 24 hours passed.

However now in v2.9 the operator can set independent limits for each individual digital asset. Essentially an asset's withdrawals can now be counted separately. For example the admin may set the BTC withdrawal limit to 1 BTC a day for tier 1 accounts, and it won’t be counted against any other assets.

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Monthly Withdraw Limit

In addition to the newly implemented independent withdraw limit, there's a monthly withdraw limit designed to provide operators with greater control over withdrawal velocity. This feature enables operators to set a maximum monthly withdrawal amount, strategically capping the speed at which withdrawals can occur. For instance, if the daily withdrawal limit is set at $2,000, operators can establish a higher monthly withdrawal cap, such as $30,000.

Consider a scenario where a user might be inclined to withdraw the maximum daily amount, resulting in a potential monthly withdrawal of $60,000 without a monthly limit. However, with the introduction of a $30,000 monthly cap, users are prevented from consistently withdrawing at the maximum daily rate. This restriction encourages users to plan their withdrawals more thoughtfully, mitigating the risk of an excessive pace that could impact the overall stability of the platform.

The combination of daily and monthly limits empowers operators to regulate withdrawal velocity effectively, providing a safeguard against potential excessive outflows that may arise from compromised user accounts.

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This new independent withdrawal is now clearly visible to the user within their fees and limits page. The operator likewise can see what assets have their own independent limit, and set them according to their preferences. Each user tier account level can have their own withdrawal limits. Allowing operators to create account tiers with extra benefits, helping create better incentive structures around account upgrading and accessibility.

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Note by default, all assets will added to the ‘Collective Aggregation Limit’, meaning withdrawals of any of these asset will count towards the total daily or monthly withdrawal value amount unless otherwise specified by the operator.

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Edit Email

As part of client-side development, Malibu v2.9 allows exchange operators to edit email addresses. This small yet powerful feature grants operators more control and flexibility in managing user accounts, making it easier to meet the unique needs of their exchange's user base.

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The operator can change any user’s email address by visiting the user's profile page and clicking next to the user’s email address. The operator will then be required to enter the security code sent to their email and input their 2FA code (OTP).

This allows operators to deal with rare problems users may face when their email account has been lost or compromised. This action should be sparingly used, in the unique situations where it is required instead of recommending the creation of a new account.

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HollaEx Malibu v2.9: Elevating Your Exchange Business

Let us cheers, and sip our tropical drinks to HollaEx Malibu version 2.9, a substantial leap forward in our mission to provide exchange operators with the best white-label open-source exchange and crypto tooling. The introduction of the staking system, audit system, and enhanced asset transaction configuration ensures that HollaEx remains at the forefront of blockchain-based fintech.

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Stay tuned for more updates and details on the release of v2.9 white label exchange as we continue to empower operators to create outstanding crypto businesses. Your success is our success, and we're committed to delivering the best in class.

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Why use HollaEx white label exchange?

Hopefully with a Malibu 🍹 in hand, you might be asking why HollaEx over other white labels?

First, HollaEx's market-leading backend and expert DevOps engineering services is fine-tuned for seamless distribution allowing us to easily share our ready-made solution.

Second, HollaEx’s open-source software has been rigorously tested to ensure unparalleled security because it is one of the longest running open white labels on the market.

Third, we are award-winning in the space, garnering accolades from AWS, ProductHunt, Slashdot, G2, and Sourceforge. Game recognizes game, and great coders recognize us.

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Fourth, you can launch your exchange in one day, competitors take months.

Fifth, HollaEx offers the most competitive and transparent pricing, empowering operators with full visibility into their investment before they begin. This transparency enables operators to strategically plan for the long term, positioning themselves to navigate through the dynamic cycles of the crypto market with confidence.

Lastly, HollaEx stands firm in its commitment to delivering the best white-label CEX in the space, prioritizing security above all. While others may tout a multitude of supplementary services, our dedication is singular: ensuring your exchange experience is unparalleled.

So what are you waiting for? Start your own exchange business today on HollaEx dashboard.⚙️

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Want to understand the factors that influence the cost of a white-label crypto exchange?

Read the Ultimate Guide to Exchange Costs.