8 Things You can Build with the Shrimpy Universal Exchange APIs
Developers in the crypto space are facing a problem. The market has been scattered due to every development team trying to create their own ecosystem. Thousands of individual development teams are creating unique software that doesn’t integrate well with other software. Exchanges are a prime example in the market. Each crypto exchange has implemented a completely different set of APIs. Each having their own pitfalls, rules, and restrictions. Exchanges have no cohesive structure to how they’ve been engineered. Developers are left to maintain complex APIs that are a minefield of seemingly arbitrary deployment schedules, unexpected listings or delistings of assets, and restrictions that require even simple applications to manage a farm of hundreds of servers.
In order to facilitate the global adoption of cryptocurrency trading, our team announced that we will be taking the reigns on solving this problem. This began with the release of our Universal Exchange APIs. These APIs allow anyone to build robust applications that scale by eliminating the complexities of exchange integration, asset management, endless server scaling, trading logic, maintenance, and data collection. Without effort, developers can integrate trading functionality into their applications and scale to millions of daily trades.
In an attempt to spur some ideas on how these APIs could be used, we have constructed a short list of different applications you could develop right now with the Shrimpy API. These ideas are for anyone to take or modify. Run with these ideas or come up with your own ideas that aren’t on the list.
1) Portfolio Tracker
Portfolio tracking applications are a necessity for anyone interested in the crypto market. The problem is there are countless exchanges that require a lot of time to integrate. Shrimpy resolves this problem by managing the exchange integrations and data collection, so you can focus on the development of the application. Link exchange accounts and collect data for your users with ease. Instead of requiring your users to manually input trades, Shrimpy will be able to monitor their exchange accounts and automatically update asset balances.
Use this feature to evaluate trading performance, demonstrate the accumulation of assets over time, or simply monitor a diverse portfolio that’s scattered across exchanges.
2) Market Tracker
Even easier than portfolio tracker is the idea of simply tracking the market. Regardless of your trading or portfolio strategy, it’s important to stay up to date with the trends in the market. A simple market tracker is easy to create with Shrimpy. Simply request data for each exchange and Shrimpy will handle the collection of this data.
3) Trading Signals
Crypto signal groups have become popular over the last few years. People are always looking for a new ways to make money in this volatile market. Although many of these signal groups don’t integrate market data or automation, that can all change by taking advantage of the Shrimpy Universal Exchange API. Quickly collect data from exchanges and evaluate the market. Propagate signals to your users based on custom requirements. It’s simple to get started, but provides the necessary insights that will help set your application apart from the other signal groups.
4) Arbitrage Identification Tool
The current state of cryptocurrency markets has led to many arbitrage opportunities. However, the challenge is in aggregating exchange-specific data to identify where the opportunities exist. With Shrimpy’s Universal Exchange API, developers can now dedicate their time to building out actual tools for arbitrage rather than spending resources acquiring the necessary data.
5) Trading Mobile App
While portfolio tracking is a complex problem, building an application that is capable of trading across multiple exchanges is a whole different beast. Trading requires complex logic, sophisticated infrastructure, and consistency across exchanges. Shrimpy simplifies this problem with the APIs, so the logic and complexities are abstracted from the application development. This allows you to focus on your core application features, while offloading the trading complexities to Shrimpy.
Whether you plan on making hundreds or millions of trades a day, Shrimpy was built to handle the immense volume that trading applications can generate.
6) Indicator-Based Trading Bot
With thousands of free trading strategies available online, Indicator-based trading is an increasingly popular solution used by many traders. As such, integrating these different trading indicators can be a complex and time-consuming process, especially when making adjustments for each exchange and their trading infrastructure. Shrimpy’s Universal Exchange API collects all the necessary market data and inputs required for indicators, making it easy to integrate with 3rd party trading tool applications like TradingView.
7) AI Driven Automated Trading Bot
As Artificial Intelligence technology continues to improve, cryptocurrency markets will inevitably adopt and integrate AI into the decision-making process. By nature, AI product development teams are in the business of creating algorithmic trading bots. By providing a single point of integration with exchanges, Shrimpy’s Universal Exchange API lets developers to focus on creating innovative crypto trading products.
8) automated Crypto Index Bot
With Shrimpy’s Universal Exchange API, you can create your automated rebalancing strategy similar to Shrimpy’s! The API features convenient endpoints for developers to create their custom cryptocurency indices based on their custom allocation and rebalance settings.
These are just a few examples of what developers can build with Shrimpy’s Universal Exchange API. We hope this will drive traders, developers, and passionate users to continue creating innovative crypto products and become the groundwork of future adoption. Feel free to reach out to the team directly on Telegram - We’re excited to work with teams interested in building upon our APIs!
The Shrimpy Team