Today we’re excited to announce the official launch of Kollider!
We’ve been quietly building Kollider over the past two and a half years. In 2021, we raised a seed round led by Lemniscap, with participation from Castle Island Ventures, Polychain Capital, Alameda, Pfeffer Capital, Okex, and others. We previously raised pre-seed funding from Polychain Capital in 2020. We took an early bet that the Lightning Network would revolutionize the trading experience, and we’ve built a product to showcase that. Today we’re proud to finally make our public launch and fully open up the products to users!
Our mission at Kollider is to build tools and services that make financial markets available to everyone, across borders, instantly and simply using Bitcoin’s Lightning Network. We believe that the Lightning Network is the most powerful tool to extend the utility, speed, and access of Bitcoin, the world’s best money. Our goal is to bring this to as many people as possible.
To do this, we’ve built a number of different products.
Our core product is the world’s first Lightning-native derivatives exchange, called Kollider Exchange. Our exchange is built from scratch with a peer-to-peer settled limit order book and is designed from the ground up to work directly with Lightning Network.
So what does it mean to be a Lightning-native exchange?
- Users can open and close positions on the exchange directly to and from their Lightning wallets. These orders are processed instantaneously.
- Users can add capital to their positions over the Lightning Network, even in amounts as small as a single sat. This means they have more control and can be far more efficient in their capital management.
- There is no need to pre-fund an account. Users can deposit and open a position on the exchange in a single Lightning transaction, directly from their wallet of choice. This improves capital efficiency and ensures that users are only taking counterparty risk with their funds when they have an open position.
- User can login to the exchange with their Lightning wallet using Lighting Login.
- Withdrawals are processed instantly and go directly to the user’s Lightning wallet.
- Users can go long/short Bitcoin with leverage, hedge their price exposure, and access these financial markets without ever having to leave the Lightning ecosystem.
We’ve built two versions of Kollider Exchange.
Kollider Lite is a simple and easy-to-use interface designed for new users.
Kollider Pro is a full-feature interface for more advanced users who want to take advantage of Kollider’s full suite of features and interact directly with the order book.
We believe that Kollider’s Lightning-native exchange is the fastest and easiest way to trade on the market today. Give it a try and if you have feedback, be sure to let us know!
Kollider Synthetic Stablecoins
One of the products we’re most excited to introduce are Kollider Synthetic Stablecoins.
Kollider's synthetic stablecoins use derivates on the Kollider Exchange to offer fiat-denominated price stability to users. In other words, Kollider offers users the ability to hedge their price exposure to Bitcoin by pegging all or part of their balance to a fiat currency.
To do this, Kollider creates a delta-neutral position on the Kollider Exchange by simultaneously going long and short BTC. This creates a position where the account has no exposure to the price movements of Bitcoin and the position maintains a stable value in dollar terms.
This means that users can get exposure to dollar-denominated stability without ever having to exit the Lightning Network ecosystem or go through a fiat gateway. We’re excited to bring these synethetic stablecoins to our own wallet, as well as a number of other Lighting apps and services.
Finally, we’re building the first browser-based Lightning Network wallet that allows you to peg all or part of your balance to fiat currencies using our synthetic stablecoins. Kollider Wallet is an upcoming release that will allow you to quickly and easily convert into and out of our synthetic stablecoins.
You’ll be able to send, receive, and hold Bitcoin, as well as hold balances in synthetic USD and EUR. You’ll also be able to spend and receive to and from any of your balances on the Lightning Network.
Visit our Kollider Wallet page to learn more and sign up for early access as soon as it’s live!
Launch Week Trading Challenge
We’re putting together a trading competition to celebrate our launch week!
Starting tomorrow— Thursday, October 27th— we’ll kick off a two-week trading competition where users will be able to compete for a number of prizes.
- 1st Place Winner: 1M sats
- 2nd Place: 800k sats
- 3rd Place: 600k sats
- 4th Place: 400k sats
- 5th Place: 200k sats
- 5th-10th Place Winners: 100,000 sats each
Users will be eligible to win the prizes based on their trading activity on Kollider Exchange over the course of two weeks (Oct 27-Nov 3). Each user’s individual volume will be summed up during that period, and users will have their score multiplied for each consecutive day that they trade. This multiple will compound daily, but it will reset if the users goes a day without trading. In other words, the users who trade the most volume the most consistently will be eligible to win.
If you’ve got questions about the competition, feel free to hop into our Telegram group to chat!
We’d love for you to give our products a try and give us some feedback when you do.