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Discussion on: How I lost 1 year of life doing failed crypto startup

umit_turtur profile image

I think this is the fate of most start-ups, so nothing to be hugely disappointed about here. Usually the big take-off happens after several such attempts.

Very good on you for taking the risk and trying.

I am curious, though, when the idea was an exchange, how did you plan on driving liquidity to your exchange?

This is a huge problem even for well-advertised exchanges. The Stellar DEX for example I think of as something rather well-known, and has been around for a while, but still has negligible trading volumes, and it has a community behind it.

A one-person built exchange I would have no vision how might handle this issue.

_pthomann profile image
Przemysław Thomann Author

I think you noticed that many things could not succeed. I didn't think about many things or naively thought that it gonna be fine. Of course I thought also about possible investments - and in fact I had few conversations with VCs but mostly because of no users & being alone they were not willing to talk more.

According to your question - in fact I could probably make kind of deal with other platforms (like crypto exchanges) for providing liquidity. Of course it's matter of platform security - imagine I do a deal with exchange where they borrow me their cryptos for trading. If I would be super safe maybe they could do it for some %. In theory it would work but practically I thought rather about initial investment for early liquidity. It was one of the costs in my business plan.

DEXes are also quite different. Uniswap is huge but except it it's still the topic for crypto freaks imao.