Shrimpy APIs – An Appeal to Developers

Project Reviews / 20.08.2019

In the age of Artificial Intelligence, Automation and Decentralization, the people who will suffer the most are those who still think traditional business and management practices will continue to be relevant in the future. Bill Gates once rightly said, “People usually overestimate the effects of Technology in the next two years and underestimate its effects in the next 10” and he couldn’t have said it better.

To help you hitchhike this ride to the future, we introduce Shrimpy: a trading bot infrastructure built for cryptocurrencies that allows users to customize any aspects of trading beforehand. It is considered a revolution in trading among experienced professionals in this area.

What is Shrimpy all about?

Shrimpy is a bot-based platform, built on APIs (Application Program Interfaces) which allow the connection of multiple cryptocurrency exchanges, to make the experience of trading more efficient. The main goal of Shrimpy is to provide a platform that allows its developers and users to form strategies and have them executed based on their own pre-set conditions, without the need for continuously rechecking multiple accounts and manually carrying out trades.

The Shrimpy application allows anyone to sign-up and use their services, either by using the free open API or the paid one, which is has a monthly subscription fee. Among the several dozen features available within the application, the ones which intrigued us the most are: connecting multiple exchanges to one platform, rebalancing portfolios, indexing cryptocurrencies and managing multiple portfolios at once.

Should you really care about APIs?

APIs are generally considered a developer’s best friend. APIs enable building, connecting and integrating several divergent features to work together efficiently. One can extrapolate and dare to say that the modern internet is just APIs built on top of APIs. Following the same path, Shrimpy has come up with innovative solutions for the cryptocurrency industry, by leveraging the APIs of multiple exchanges to cumulate and automate the entire trading process.

Shrimpy APIs are among the best in the industry. It is considered a favorite among traders and crypto fund managers, as it allows them to efficiently manage the funds bestowed upon them by their customers. The platform also allows social networking by connecting traders and fund managers, allowing them to learn from each other and permitting the sale of strategies from one user to another.

To see how Shrimpy positions itself as a lucrative platform for developers to build on, let’s discuss it in detail.

The Prospects of Developing with Shrimpy

“The Shrimpy Universal Crypto Exchange APIs are a powerful resource for cryptocurrency application developers. The APIs provide solutions to some of the largest problems encountered when integrating crypto exchange functionality” –  blog.shrimpy.io

Essentially, Shrimpy APIs are the most powerful trading APIs on the market. They help traders by connecting them to a network which has the most popular crypto exchanges, while also providing real-time full order book data, limit orders, open orders, smart order routing, exchange account management, user management, and a complete cloud infrastructure solution right out of the box.

The appeal that Shrimpy provides to developers in the space is quite huge. For a developer to discover the Shrimpy API infrastructure is like a farmer stumbling upon a gold mine…in his own back yard. Developers are exposed to a huge array of development infrastructure capabilities. All code halos are simplified from long lengths of code to short and accessible APIs which can link multiple features under one roof.

On the Shrimpy infrastructure, developers can choose from two different data flow mechanisms:

  • Developer-Controlled Request Flow – Centralized: A Developer Centric Request Flow is where the developer is the center of all activity. The developer has the power to make any changes, allow users and take decisions. It follows a hierarchical chain of command, putting the developer at the top and the remaining users and backers, under the developer. This centralized mechanism is ideal for people who wish to develop a fund or an index of funds and manage portfolios for a group of people. All decisions and requests must be acknowledged and decided by the lead developer. Essentially, every request is routed through a centralized server, which manages the communication with Shrimpy servers.
  • User-Controlled Request Flow – Decentralized:  To reflect the ideology of the blockchain ecosystem, Shrimpy also allows a developer or a collective of developers to build an infrastructure that is decentralized and takes into the inputs of all users. It can be distributed or decentralized based on the requirements posed by the group. This means each user will manage their requests for trading, data collection, and linking exchange accounts by directly communicating with Shrimpy. Each of these requests will be signed with the individual User Shrimpy API Keys. It must be noted that in addition to the creation of the user, the developer has to generate Shrimpy User API Keys for each user.

An Exciting Future Awaits

With a rigid business strategy, an incredible team and amazing development capabilities, Shrimpy poses itself as a forerunner in the upcoming adoption phase of cryptocurrencies and blockchain. The team behind it is constantly interacting with the users and developers. They aim to mutually push the platform forward by clarifying any all questions posed by the developers and asking for suggestions in return, through social media handled on RedditTelegram and others.

In the team’s own words Shrimpy will become the universal layer on top of exchanges which facilitates the emergence of new platforms. Our trading engine will be released to the public so everyone in the industry can start building products on our innovative solutions. No more hassling with each exchange, trying to figure out each of their unique quirks and how you can deal with them. We will do it for you.”

Looking forward, one can imagine a scenario where thousands of traders are constantly analyzing markets and implementing their reasoning on an automated and efficient platform that constantly makes itself better, to provide more value to its users. These strategies, if successful, can then be sold or rented on the open market, allowing traders to constantly keep up with the best in the market. An intro and demo of the Shrimpy platform are recommended to any person who wishes to use their time and recourse efficiently, and without much hassle.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.