The second "uprising" of the exchange

After the seventy-four events of the 17th year and the baptism of the bull market at the end of the year, the three major exchanges of HBO consisting of fire coins, currency security and OKEx have basically been established and continue to this day. In the past 18 years, the new exchanges represented by FCoin have tried to change the industry structure and reshape the interests, but in the end, the staged failures due to the inherent problems of the model also mean the failure of the first "uprising".

Nowadays, a new wave of new exchanges represented by BiKi and MXC has launched the second "uprising" of HBO. They do not satisfy the single-mode innovation like FCoin, but focus on building multi-faceted differentiation advantages. And dare to boldly break the regular route of the exchange, it seems that the hope of "uprising" once again ignited.
The exchange is one of the core infrastructures in the field of cryptocurrency, and it is also a battleground for the military.

From the earliest MT.Gox, to later Bitcoin China, OKEx, Firecoin, Bit Times, Coin Security, etc., a large number of new players enter the market every year, with different advantages such as user experience, community centripetal force and high currency. Challenges to the older generation of exchanges, as well as a number of outdated players will gradually be eliminated by history, the exchange's first echelon lineup is changing almost every year, every quarter.

However, after the seventy-fourth incident in the 17th year and the baptism of the bull market at the end of the year, some exchanges have achieved a significant lead by virtue of their unique strategies. The head pattern of the exchange industry has basically been established and continues to this day. From the domestic market alone, the three exchanges consisting of fire coins, currency security, and OKEx (hereinafter referred to as HBO) have been quite stable, and no other exchange can achieve a comparable status.

Indeed, the success of HBOs has its own advantages and characteristics, such as the community marketing of the currency security, the leveraged trading of OKEx, etc., which have won the recognition of many users in the early stage through these strategies.

However, as the pattern of the three major exchanges has become more and more persistent, some exchanges seem to have been infected with "big company diseases" for a long time because of falling into a "comfort zone", and there are phenomena such as strategic slack, bloated institutions, and brain drain. The exchange has also been exposed to manipulation of the trading market through various black-box operations, causing dissatisfaction among many users, even rights defending events.

But what we need to be clear is that there is no industry pattern that is static. Despite its solid position and solid foundation, HBO has not missed thousands of exchanges trying to impact them. Its strategy includes trading mining. , grab the starting currency, and so on, and have to give more benefits to users. The "uprising" of these new exchanges is on the one hand the impact on HBO, on the other hand, the stimulation and incentives for them, which in turn promotes the upgrading and progress of the entire industry and better serve the users.

The exchange's first "uprising" was initiated by FCoin. At the beginning of June 18, FCoin increased the price of platform FT by dozens of times after opening the trading mining mode. The platform itself became the most concerned and topical exchange at that time, and there were thousands of trades using mining. The new exchange of models was born, and the head exchanges such as Firecoin and OKEx had to launch a variety of exchange alliance plans to defend.

In the trading mining mode, the user can obtain the platform fee equivalent of the transaction fee after the transaction, and the platform fee can also be paid by the platform currency. This mode allows the user to share the development of the exchange to a greater extent. Dividends, but the internal problems of the economic model are ultimately not very successful. In the same period, a large number of exchanges that imitated FCoin were mostly quiet after a month or two, and the first "uprising" of the new exchanges gradually failed.

In the second half of the year, as the currency market quickly turned into a bear market, the trading enthusiasm of investors was getting lower and lower. There were almost no new exchanges in the industry, and it was completely controlled by HBO. However, in the early 18th, the bull market began to rise, which also laid a solid foundation for the second "uprising" of the new exchange.

Since the beginning of this year, a number of emerging exchanges such as BiKi and MXC have emerged in the exchange industry. Although they were not established this year, they all have more than 10 months of development, but now they see many unique developments. The strategy was initially implemented in the second half of last year. The bear market has shrunk and even masked the brilliance of these new exchanges. However, their development strategy has completely broken out in the bull market and ranks among the second echelon of the exchange industry.

Take BiKi, the exchange has been registered for more than 1.2 million subscribers in less than a year, and has lived more than 100,000 daily. It has also been rated by Forbes as the top 10 blockchain projects in 2019, and the market value of BIKI is also Step into the top ten platform coins.

In recent months, BiKi has also obtained the pre-co-joint partner Du Jun and the blessing of Chuangshi Capital. Both parties have acquired BIKI ranging from millions of dollars to the secondary market. Du Jun has served as a BiKi transaction. The co-CEOs, the head institutions of these blockchain industries and the addition of Daxie can also demonstrate BiKi's soft power and appeal.

MXC also received considerable user volume and transaction volume. According to non-small data, the daily transaction volume exceeded 300 million US dollars. The increase of platform currency MX is also close to the increase of platform currency of BiKi exchange, which has reached more than 10 times.

It can be seen that the emerging exchanges that initiated the second "uprising" have grown quite strong, and their rise is worthy of more analysis and re-emergence. Chain catchers believe that these exchanges have taken a more special route in terms of economic models, currency richness, and community building, as follows:

First, the platform economy model is fully improved, healthier, sustainable and attractive. The total amount of platform currency BIKI issued by BiKi Exchange is 1 billion, but the exchange will put 100% of the handling fee into the platform for repurchase, until the total amount of BIKI reaches 100 million. This kind of repurchase and ultimate deflation mechanism The exchange industry has almost never seen it, and it can largely support BIKI's price movements. It is understood that the current BiKi exchange has repurchased more than 274 million BIKI, and the repurchase rate is accelerating as the fee increases.

BIKI has risen by more than 70 times since the beginning of the year, and has recently fallen slightly with the market's worsening.

Second, it breaks through the traditional idea of ​​the currency and attracts users through high-popular currencies. High-quality currencies have always been the core competitiveness of the exchange. This aspect is reflected in the fact that mainstream exchanges can contact and launch more high-quality currencies, such as Lancang and Firecoin Prime, and on the other hand, they are unique to the exchange. The platform currency of the platform, the platform currency as the embodiment of the strength of the exchange will also become the differentiated advantage of the exchange to attract users, such as last year's FT's skyrocketing Froin.

It is almost the practice of the exchange industry to exchange only the platform currency of the company and communicate with the project party, but it also limits the currency autonomy and richness of the exchange. The new exchanges have broken this practice. Like BiKi, all the platform currencies of nearly 10 major exchanges such as HT, OKB, BNB and LEO have been launched, and they have higher market influence than CELR and DOT in the morning. In addition to the currency, it also launched more than ten popular traffic currencies with millions of communities, such as VDS, ATT, and MGC, and cooperated with many investment institutions to cover the head project first.

That is to say, the high-quality assets that have been deposited in the medium-sized market of platform coins and head-chain coins can basically be found on BiKi, which greatly facilitates the one-stop investment of various platform coins. Another new exchange, MXC, is known for its preemptive currency. The IEO projects of the Exchange and other exchanges have been traded on the MXC in advance, and they have achieved considerable traffic.

Third, efforts are made to promote community building, and community activity and centripetal force are high. Most mainstream exchanges have become hierarchical and high-performing organizations. They mainly rely on popularity and liquidity to maintain users. They don't pay much attention to community interaction, especially the community interaction of executives. The relationship between users and exchanges is very loose.

BiKi has made community building a development priority. At present, more than 200 user groups have been formed, most of which are maintained by volunteers. At the same time, BiKi proposes a community partner program. Users can hold more than 30,000 BIKI platform coins and become a community partner after 1 year of lock-up. They can enjoy 10% annual lock interest and enjoy the return of the second-level fee. Airdrops and other benefits, the current number of partners has reached thousands. Through these measures, BiKi has made a large number of users and the benefits of the exchange highly bound, and many community users have actively helped BiKi to do marketing, introduce traffic and propose various development proposals to form a virtuous circle of community development.

Fourth, pay attention to user feedback and experience, and the user experience is excellent. The fluency and friendliness of the product is one of the important manifestations of a project's sincerity and ability. BiKi has been iterating over 4 major versions and more than 20 minor versions for more than half a year, and has established a 24-hour customer service team of nearly 20 people. The speed of the coin and customer feedback is very fast.

In addition, BiKi Exchange also attaches great importance to the improvement of currency liquidity. The daily trading volume of well-known currencies can reach millions of dollars, which fully guarantees that users can buy or sell tokens at the best price.

The rise of BiKi and MXC can be seen as the epitome of the second “uprising” of the new exchanges. They dare to break the regular route of the exchange and try to enlarge the positive role of community users in the promotion of the exchange and through community interaction. Measures such as benefit sharing have maintained the high degree of centripetal force and trust of community members on the exchanges, thus driving the growth of the exchange itself.

The "uprising" of this exchange was different from the first "uprising" in 18 years. The main driving force of the "uprising" came from a single mode of innovation. As the model's drawbacks exposed the exchange, it immediately went down. This "uprising" The exchange pays more attention to building a multi-faceted competitive advantage, and avoids the shortcomings of the long-term development of over-the-counter mining model overdraft, which is actually more healthy and sustainable.

The changes in any industry pattern are not achieved overnight. They are often initiated at the end of Qingping, and eventually after a long evolution, most people inadvertently happen. The HBO pattern of the domestic exchange industry has been formed for nearly three years. With more and more complainers and competitors, the rewriting of this pattern will inevitably occur.

Whether it is the first "uprising" exchange represented by FCoin or the second "uprising" exchange represented by BiKi and MXC, they are trying to rewrite this pattern, although this is more out of its own Benefits, but objectively still have a positive effect on promoting the sound development of the industry and inspiring mainstream exchanges to provide better services.

Perhaps this "uprising" will still be the same as the first "uprising", but there will be a third and fourth time thereafter, and the continuous change of the industry pattern is bound to happen. However, as far as the second "uprising" is concerned, although there are still some shortcomings in the exchanges, we have to admit that this hope is already quite strong. This kind of strength stems from the teams, models, and exchanges of exchanges such as BiKi. The strategy and other aspects are outstanding, and the temperament and form of the early stage of the HBO Big Three have gradually emerged.

The public will also expect this "uprising" to really change the trading structure. After all, the unchanging industry pattern is a bit too boring and old, and the dark horse counterattack is always more popular and expected. It is foreseeable that the exchange battles in the next six months will be even more exciting.

Author/Hu Wei, without authorization, declined to reprint.