How Our Crypto App Traded Over $1 Billion
Crypto traders have trusted Shrimpy with over $1 Billion in trades.
A little over 2 years ago, we published an introspective article titled “How Our Crypto App Went From Managing $0 To $1,000,000 In 1 Month Flat”.
At the time, we never imagined we would go from $0 to $1,000,000 under management in only a month. Looking back, I am assured we also couldn’t have imagined trading over $1 Billion in cryptocurrency.
In fact, many people have a difficult time comprehending how much is $1 Billion, myself included. It’s a far more vast sum of money than I can picture getting processed by our system.
To process such a large volume of trades, our system has needed to scale over time. While we were only processing a few hundred or thousand trades a day when we first started, our system can now easily process over 300,000 orders on a daily basis. That’s more than 3 trades a second, every second of the day.
At our scale today, that’s not even pushing the boundaries of our limits. The Shrimpy infrastructure is built to effortlessly scale to 10x our current processing power. This would amount to millions of trades being executed every day.
Lessons learned
Things get hard. Especially when it comes to long crypto winters. Our team was unfortunate enough to launch Shrimpy in January 2018. Right as the market came crashing down, we were launching our very first version of the platform.
Over the next two years, as the bear market charged along, it became vital for us to keep moving forward. Rather than worrying about competition, our focus was dedicated to building a great product.
Instead of spamming ads and burning money by running big promotions, we focused on creating a community that cares about our mission. This involved publishing over 300 blog posts that have educated thousands of traders on the topics of portfolio management, rebalancing, and crypto trading.
We knew that focusing too much on the market would corrupt our state of mind, so our dedication was to the development of Shrimpy.
Don’t give up when things get hard. Keep building what matters to you.
It might not be obvious, but Shrimpy is still only a team of 6 people. We don’t outsource our work and we don’t use contractors. Everything you see was built by the Shrimpy team.
When going through a bear market like the one we experienced starting in 2018, we made the conscious decision to stay lean. It was far more important for us to survive the winter than to hire aggressively and fail.
As the market has picked up, so has business. With consistent growth in the market, we will be able to start growing the team to prepare for the next bull run. This wouldn’t have been possible if we aggressively hired during the bear market.
Stay lean.
Lean doesn’t mean slow. Although we have a small team of 6 people, we still have high expectations for what we can accomplish. Over the last two years, we’ve released two products, launched hundreds of features, and scaled our infrastructure to become the most advanced in the industry.
This could only have been accomplished with hard work. We might have only 6 people, but our output is as much as a 15 person operation. Longer hours, faster decision making, and a focus on product development allow us to move quickly. Every day is dedicated to pushing our product forward.
Work harder than your competition is willing to work.
We never stopped building for the last 3 years. While the market was up, we were building. When the market went down, we were building.
Day in and day out, we built.
Our team has worked hard to get to where we are today. Working 6 days a week, often into the wee hours of the night.
With a small team, that’s our advantage.
The Next Chapter
$1 billion in trading volume is only scratching the surface of what’s possible. In the next few years, Shrimpy will be going to $10 billion in trading volume and far beyond.
Reaching the next big milestone will require a continued focus and dedication to product development. Our infrastructure will require intense scaling as we grow to hundreds of thousands of traders managing their portfolio with Shrimpy.
The expansion of Shrimpy will involve new innovative features, better ways to engage with a community of traders, and trading strategies that keep us at the top of the industry.
Our Social Trading Platform
Shrimpy is a social trading platform for cryptocurrency. It is designed for both professional and novice traders to learn about the growing crypto industry. On Shrimpy, users can copy the portfolios and trading strategies of other traders.
Follow us on Twitter and Facebook for updates, and ask any questions to our amazing, active communities on Telegram & Discord.
Thanks for stopping by!
The Shrimpy Team
