What is wrong with you??? I have been a promoter and user of your platform for the past 4 years and this is how you thank us? This is just a nasty Bait and Switch scheme trying to force us into paying for your “Open Source” platform to be able to retain the features that have always been free. Why are you trying to scam us DIYers like that? This is just the worst you can do and will piss off a lot of your user base badly. You are like the mafia trying to export money by force! Are you also going to steal my customer’s token not listed above? No explanation and out of nowhere, this news plainly says to pay or lose access… That is usually considered EXTORTION!
Please rethink your approach to providing features and then removing them, this is just the worst business practice I have ever seen in my professional life. You will go down the drain trying to extort people’s money like that. I will also put my marketing staff and many other DIY operators on the project to make sure everyone in the crypto world on Reddit, Twitter, and many other platforms knows that your company is doubled-faced and will switch and bait them let alone pull a rug on them. Your business practices are just nasty bottom-feeder practices that will signal the beginning of the end for what I once considered the best open-source platform for DIYers!
First, thank you for your support as a valued exchange builder. At HollaEx, our core intention has always been to enable open marketplaces and provide access to the essential features of an exchange through our DIY freeware version. We want to ensure that the exchange community can continue to benefit from this software and help provide blockchain infrastructure to where it is needed most.
We understand that the importance of the availability of assets like Bitcoin is crucial for your trading needs. Rest assured, Bitcoin and other significant digital assets will continue to be included in the selection for Basic account holders. We aim to offer a range of assets that align with the diverse requirements of the DIY community. In addition, the free liquidity connection will also be continued.
The reasoning behind the move, however, is to allow the software to scale as it accommodates more operators globally. As can imagine it can be increasingly challenging and costly to maintain 100s of digital assets on 100s of exchanges worldwide, and thus to address this, we have made the tough decision to offer a selection of four digital assets of your choice on the freeware version of the exchange software. This allows us to continue to maintain the a secure and robust platform for DIY operators while allowing it to be freely used.
We also recognize the importance of providing sufficient time for operators to adapt to these changes. We have implemented a generous grace period, allowing operators like yourself to manage the transition effectively. However, if additional time is needed, please reach out to our support team. We are here to assist you and ensure a smooth experience.
At HollaEx, we place a strong emphasis on the continuous improvement and security of our software. We invest significant resources and time into regular updates, making sure that the platform remains secure and safe for all users. As a Basic account holder, you will continue to have access to these free security updates, ensuring a reliable and protected trading environment.
Once again, we greatly appreciate your understanding and the value you bring to our platform. Your feedback and support are invaluable as we navigate these changes and strive to enhance our services. If you have any further questions or concerns, please do not hesitate to reach out to us directly. We hope very much that you’ll continue to be an active member of the exchange builder community.
honestly, it is pretty reasonable… can freely customize the platform, and it has all the core trading features, btc and usdt markets and pages. hard to ask for more for free?
Its not reasonable when you have been using features that were part of the deal for over 4 years and all of a sudden you ask your supporter to tell their customers to go else were because the coins that were supported are no longer supported. Classic Bait and Switch to get DIYers to switch to paid. This is even more annoying as I was the one helping their customers with issues for a long time when the platform was still shaky and people had all kinds of issue getting their exchange up and running.
We (Longtime DIYers) should have been grand-fathered into keeping the same functionalities and the new ones signing up could have been on the new DIY Feature pack. This is how normal businesses do it. They dont remove CORE functionalities and ask you to pay to keep them.
I am just appalled as to how the whole thing was handled with just an email 17 days before removing the feature and nothing else explaining the why and opening a discussion with its operators as to how to solve the issue. They could have said that its costing them X per DIY exchange to run the network and be transparent about the cost and I would be willing to cover the network cost related to my exchange based on the volume I have.
But no, this is not how they decided to do it. Instead, they went with the cavalier way of doing it and just imposed it on us to move to their 10,000$ a year package. At 10k a year, I will lose money running my exchange because I dont have the volume required to cover that cost with commissions. Dont forget that you dont get 100,000 traders on a platform in a year! And its not like they dont know my volume, they do quite well as they have oversight over our DIY exchange.
They could have went with a package that is based on exchange volume as they currently do by taking 50% of the revenues. Why would it cost them money related to my exchange when I dont have a lot of volume? I am not costing them much in term of traffic and they already taken 1/2 my profits. No, they want to extract profit from us DIYers even if its supposedly Open Source… Sad day for HollaEx!
P.S. I have been polite and not using curse words so please dont delete my post as you did with my Discord account!
P.S. It would have been nice to get an answer on Discord instead of hiding post and blocking my account!
I warned everyone of this over the past year or so but they didn’t listen, which is why we moved to an open source launch very early where we control absolutely everything, I did the implementation myself for a site and are able to integrate with Hummingbot for market making.
We originally installed Hollaex and found too many problems, some of which you are experiencing now, so moved over to a kind of diy open source exchange platform.
Seems quite fair to me. I think the restriction has always been the case as far as I remember. I’ve been around and using HollaEx for quite some. Initially the free version for my OTC desk which gave us enough time to get everything together so I appreciate such practices and I don’t get how you can be mad when paying nothing.
Instead of wasting your budget on random developers who drain you for every penny you at least know what you get immediately and its been very reliable.
No, not fair at all considering that contrary to your belief, that was NEVER the case! We were always allowed to have all coins on our exchange, not only 4! Also, what about the people that paid to get their coin added to the network? They now have much less places where their coin is available.
This is how it is, many exchanges including the top ones in use today are based on something called Peatio, however this stopped development many years ago, it is not usable in today’s environment.
The problem we had with Hollaex was we needed to list 100s of tokens, at $2k each was not realistic, plus we found all the data was stored on their servers which from security was not ideal.
We also spoke to many other white label exchanges and they are also mostly based around the Peatio backend, but charging $100,000s for launch with split/share fees.
Various companies have taken Peatio and then upgraded it to something which functions today, this is what we launched to have full control of the exchange.
I know, have already had deep conversations will all the white label partners, you will come back full circle that Hollaex is actually the cheapest option unless you do what we did, we didn’t have any live sites at the time so it was an easy choice, if you do the longer it takes the more your live exchange will suffer, these people take months to get answer from as you will find out, you have to ask the ‘right’ questions
would you be so kind as to share?