HollaEx v2.4 — Fiat Controls

Date Published -
September 6, 2022
This release includes improved management systems for fiat assets & much, much more!
HollaEx v2.4 — Fiat Controls
The best white-label crypto exchange HollaEx Kit has been upgraded to v2.4.0. This release includes improved management systems for fiat assets & much, much more!

Everyone loves a good decentralized story, however this HollaEx update is all about the CeFi!

v2.4 combines the best of both worlds to provide the ultimate white label exchange business experience by empowering the Cloud Fiat Ramp (previously ‘Fiat Master’) and DIY Boost users with a new dedicated Fiat Controls page.

For a super short summary of v2.4, visit the release notes page.

To get to the good stuff read on!

Fiat On and Off Ramping

Admin creates a payment account, names it and creates the payment details for both users and exchange operators to share.

Decentralization (with a captial D) is an essential ingredient for blockchain financial systems, however, centralized systems will always have their place. This is why the newest addition to the white label exchange software is the ‘Fiat controls’ page. It is the defining feature of v2.4, and allows the exchange owner to easily add their own on-ramp (for fiat deposits) and an off-ramp (for fiat withdrawals).

After the admin adds a payment account all users on the exchange will be able to inputs their own payment account details for withdrawals via the verification page. Upon the admin’s confirmation of the submitted account the withdrawal option will now be visible to the user via their wallet page.

On the Fiat Controls page are advanced tools, only accessible to the upgraded exchanges on the two highest level plans; DIY Boost and Fiat Ramp.

This feature has been designed to support businesses that may already have existing payment providers that they would like to use in synch with their exchange. For example, a PayPal or regular bank account.

Previously, an on-ramping (depositing) system would have to go through a long and intensive integration process. Now, payment details, such as a PayPal email and /or the operator's Bank account details (SWIFT code, account number, etc) can be added and then displayed to the user in the designated deposit page.

Adds their own account payment details for deposits. Upon confirming a deposit the admin can credit the user that just made a deposit.

When a user uses these public payment details to make a deposit the exchange operator can check if the deposit has arrived in their bank account (or other payment account) and can then proceed to credit that user's account balance. The user will be then notified that their deposit is complete and they can then trade with their newly credited funds.

Once the admin adds an on-ramp with their account payment details the users on the exchange will be able to via the info to make deposits.

This works in the same way for off-ramping (withdrawals) but instead, the user can share their own payment account details and once the user requests a withdrawal, the admin can reference that user's payment details and send the fiat currency to that user.

These fiat settlements are thus handled outside of the exchange and accounts within the exchange have their fiat assets manually updated via the mint and burn function. The main purpose of Fiat Controls is to create an environment to more easily synchronize what is happening inside the exchange with what has happened outside.

Confused? That’s okay, in due time, walkthrough guides will be added to HollaEx Docs and the YouTube channel.

Although much of the v2.4 fiat functions mentioned above are focused on manual fiat functionality, there will be coming automated fiat payment services that can be much more easily added via the plugins marketplace soon. However, integrations for automated fiat ramping systems are available at cost (integration services are included in the Fiat Ramp plan) and require access to a fiat provider APIs.

Transfer Funds Using Email Addresses

Transactions between users on the same exchange internally or network-wide have always been free and instant, however, this was handled through regular crypto addresses which are difficult to identify and remember.

To make fund transfers simpler the withdrawal page now includes an ‘email’ transfer method and means exchanges and their users can now share their emails with one another within the exchange or HollaEx Network and obtain simple, instant, and free fund transfers. This could be particularly useful for internal business transactions, meaning admin staff have a clear way to send funds around. Meaning regular banking middle men can be cut out completely.

Email can now be used to make transfers. Simply input an email that is within the exchange (or the HollaEx Network) and follow the regular withdrawal steps. All internal transfers are free and instant.

New Landing Home Page Sections

The landing page now comes with a new horizontal scrolling price card widget, to let your users be in the crypto know from the moment they land on your site. This new widget can be added by entering the operator edit mode, clicking the blue gear icon on the right and turning on the ‘Moving ticker cards’.

Adding new ‘Moving ticker cards’ widget tool section.

In addition to the new price widget, the backgrounds now comes with more customization options. Multiple graphics can now uploaded for different parts of the landing page.

Removing background graphics have also been improved and upon doing so will reveal a flat theme color.

Gradient graphics, animated gifs, and transparent graphics can be combined to create various styles. Gradients graphics for example when properly applied can create a simple but effective design.

Adding a background only to a specific section and theme.

Smart Charting

Charts are now smarter and will now remember all changes. For example, drawing trend lines, adjusting zoom levels, candlestick timeframe preferences, and even colors are now stored in memory for each individual crypto market. This means traders can draw up different trading plans on the BTC/USDT market, while drawing up a separate trade strategy on say the ETH/USDT market chart.

This is effective for businesses that have a more serious trader userbase that want to pick up their trading exactly where they left off with the visual track record directly on their charts.

In addition to drawings, candlestick and background colors will now be stored in memory. To customize colors simply right click on the chart and select the gear icon labeled ‘Settings’.

Bug Fixes, Stability Improvements

Miscellaneous stability improvements, and bug fixes have been applied to the OTC broker system and other areas.

Cost Adjustments

Along with the big v2.4 update will come new prices for both the Cloud Crypto Pro plan and the DIY Boost prices.

In addition, the fiat-based subscription has been renamed to ‘Fiat Ramp’ to align with many of the new v2.4 fiat upgrades included now in that package.

Visit HollaEx.com pricing page to learn more.

In the Works

Simpler Automated Emailing

Activating an automated email on HollaEx today requires a setup outside of the exchange and involves multiple steps. This can take a few hours for those that have never dealt with it before, but soon this experienced will be greatly improved through an built-in email system that can be set up mostly within HollaEx.

Fiat Payment Processor Plugins

As mentioned earlier the more powerful plugins for on/off ramping will be available on the exchange plugin marketplace.

Ramping plugins will be orientated around fiat currency management, particularly for automation of fiat deposits and withdrawals which will be available as a premium plugins.

Note, all fiat currency functionality requires a DIY Boost or Fiat Ramp subscription.

Until the Next HollaEx Update

To experience v2.4 simply upgrade your exchange via the HollaEx dashboard and visit your exchange’s Operator Control Panel, or if you are new to HollaEx (Welcome! 🙋‍♂️) head over to the exchange dashboard setup to get started.

Lastly, for anyone on the fence about running an exchange there is a live running platform HollaEx Pro that can be used and reviewed. HollaEx Pro supports live trading and is a working example of the HollaEx white-label software in action.

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