When we made our no bullshit commitment in our last post, we also discussed some of the work happening in the background, such as building out our alpha, margining system, market making efforts, and futures functionality.

As we prepare for our initial beta release, we are ready to share more details around our beta and launch roadmap, so you know what to expect next.

Documentation

In the coming weeks, we’ll be publishing the specs of the options and futures products that we’ll be offering, so traders can prepare their strategies in advance of the product release.

We will also be publishing our API docs so traders who want to trade algorithmically will have time to integrate with the PowerTrade system before the exchange is live.

Product Releases

For PowerTrade product releases, instead of using numbers or feature named releases, we use release names that are completely unrelated to the project. This gives the releases a relatable and easy to remember release name without confusing the release pipeline as features inevitably shift in priority and timing.

Presenting, our first 4 releases, starting with the initial beta release:

Genesis Release

In this first release, we introduce the basics of options: buying calls and puts. This release will initially be available to a small number of users and will grow to a wider audience as initial feedback is collected.

Aside from testing the core options trading functionality, this release also stress tests other core parts of the app such as wallets and withdrawals, our innovative passwordless authentication system, notifications and email infrastructure, and more.

This release also includes a pro dashboard for API traders to manage and connect their API keys.

Gr'oth Release

Gr’oth Release

This release introduces perpetual futures to PowerTrade, where traders will be able to long or short, with leverage.

This also will enable cross-portfolio margin on the exchange, laying the groundwork for selling options on margin with the ability to delta hedge positions.

Discovery Release

Once the futures and margin systems are up and running, selling options will be enabled, making PowerTrade a fully fledged options trading venue.

Traders will be able to buy and sell calls, puts, and futures on margin, which takes all your assets and positions into account when calculating the margin limit.

Voyager Release

The details of this release to be announced later 😉

The Road Ahead

Once the Beta phase is completed, PowerTrade will be opened up to the public (in jurisdictions that are not prohibited) and 25% of trading fees will start flowing into the PTF treasury.

During this process of the initial beta through to the launch, there are multiple, complex, moving pieces to coordinate and manage, including setting up with multiple market makers and refining the margin and liquidation systems.

Because of this, we will be slowly adding traders from the waitlist of about 30,000 emails who have signed up for early access. At first in small batches (around 10-100), and then in larger batches (around 1000).

We will also be prioritizing early beta access to traders who can uniquely help us refine the beta product and get it ready for the launch.

If you have experience with options trading, whether in crypto or traditional markets and are interested in providing feedback during the beta, please complete this form to get priority access to the beta.

If you don’t have experience with options, please fill out the form as well, as we’d like your feedback on how easy it is to learn options trading with the app.

Looking forward to a bullish year in crypto with you all,
The PowerTrade Team

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