Radar Relay, a peer-to-peer decentralized trading platform for Ethereum-based tokens, has emerged from its beta phase. The newly-launched Version 1 comes with improvements to its automated trading tools through the development of an updated application programming interface (API) and a new software development kit (SDK), the startup announced on Tuesday.
Built on the 0x Protocol, Radar Relay is a decentralized application (DApp) designed for wallet-to-wallet trading of ERC20 tokens. Radar Relay does not require users to establish an account and share their name, address, and other personal information. Additionally, it has no lockup period or fees for deposits and withdrawals. Trade settlement is done through 0x smart contracts and users always hold tokens in a wallet they own.
The newly-launched Version 1 update comes with improvements to user onboarding with a new tool to guide users through the process of connecting their wallet to the platform and enabling tokens for trading. The update also provides Radar Relay’s blockchain-based API.
“With the newly-created API, we looked to innovative on the concept of an API altogether by creating an intuitive and in-depth tool set,” said Mike Roth, CTO of Radar Relay. “The same level of effort and attention to detail that went into creating our product was applied to our documentation as well, to ensure it’s more than just code on a page. This enables users of all experience levels to plug into Radar Relay not only to create and execute automated trades, but also further enhance their existing applications.”
Through its beta phase, Radar Relay added more than 170 ERC20 tokens to its platform and facilitated over US$150 million in trading volume, it claims.
Radar Relay raised US$3 million in a seed funding in December 2017 to expand its platform. The round was led by Blockchain Capital with participation from Batshit Crazy Ventures, Collaborative Fund, Digital Currency Group, Kindred Ventures, Kokopelli Capital, Notation Capital, Reciprocal Ventures, Sparkland Capital, SV Angel and V1.VC.
“When we launched the Radar Relay beta, we took a leap of faith in taking on the challenges of creating a new category and bringing control back to traders,” said Alan Curtis, CEO of Radar Relay. “Nine months later, the answer is clear, the response has been humbling, and we are one step closer to onboarding the world to the token economy.”
“Leaving beta is more than just a technical update; it’s an inflection point for our industry. We are excited to evolve past the traditional exchange with the creation of wallet-to-wallet trading.”