[ANN] KRAKEN.COM - US-based Exchange w/ Margin Trading - OPEN BETA

[Hfleer]

In light of recent events, we just wanted you guys to know that we’re on the motherfucker.  Go back in there, chill out and wait for the cavalry which should be coming directly:  https://beta.kraken.com

Target launch for real trading is mid next week.  Beta accounts are auto-funded with funny money and will be wiped at launch.  Actual deposits/withdrawals are disabled.  Address support issues to beta-support@<domain>

Any way to update the post here to reflect current situation.  Seems like it's a bit out of date.  I see Dargo is answering some of the questions now.  Just came here to check on the status, but don't want to read through the whole thread.

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[nitrous]

Any way to update the post here to reflect current situation.  Seems like it's a bit out of date.  I see Dargo is answering some of the questions now.  Just came here to check on the status, but don't want to read through the whole thread.

Hi Hfleer, here are the last two status updates from Dargo:

any date for the launch in sight?

We don't have a date, but the "to do before launch" list is getting pretty short. 
But some of the things on the list are hard to get an ETA for, so it's hard to be specific.

Is there any word on Kraken release date? /cet

We're waiting on a few things that could fall into place anytime now, but could also take a while longer, so it's hard to say anything definite about a launch date. Hang in there, we're doing everything we can to make it sooner than later.   

[Dargo]

Thank you very much, that's great Are there any plans to reduce the limit for orders in the future? I remember using the beta a while ago and finding that I couldn't close a position because I had exceeded the rate limit.

Not that I know of, but our plans are flexible and we want to do everything we can to meet the needs of our clients (ya know, within reason, given certain limitations, the resources at our disposal and all that) - so please continue to communicate with us about what features you'd like to have. Since you hit the rate limit in beta trading with fake money, there's some question as to whether it would be an issue for you trading with real money, but if so let us know.   

Ok, I understand that the clearing algorithms can be quite taxing so it's a good thing that you're enforcing some conservative limits. This is probably what other exchanges have got wrong in the past and the reason for their crashes, so this is some good forethought, though hopefully you'll be able to reduce the limit as you grow and get new resources. Yeah most likely; it was my first time on the beta and I went a little overboard with trading

Yeah, we could probably reduce the limit in the future, and it'd be even more likely if enough users let us know they need a lower limit.

[Dargo]

The limit for sustained orders is about 1 per minute.

This strikes me as crazy too low, by about two orders of magnitude.

So you're saying that you need to trade at a sustained rate around 1 order every half second?

No, but that would be a nice margin of safety. An average rate of 1 order every few seconds is not crazy.

I see, just wanted to make sure I understood your suggestion. It's not crazy, but also not something we'll be able to accommodate at launch. Possibly later though.

[jimbobway]

Any ETA for Kraken to go out of beta for live trading?

[Dargo]

Any ETA for Kraken to go out of beta for live trading?

I'd love to give an ETA, but  can't. We're just trying to avoid projections at this point since they can be unreliable and a set-up for disappointment. We've made great progress in the last few weeks, but depending on how things go it could still be a while before we're able to take certain services live.     

[kakobrekla]

Target launch for real trading is mid next week.  

May 3rd. Just keepin a record.

[Rampion]

I'm using the BETA, but I get the following error when I try to log in:



BTW, nice site, hope it can go live soon.

[Dargo]

I'm using the BETA, but I get the following error when I try to log in:

Should be fixed now - let me know if you are still having issues.

BTW, nice site, hope it can go live soon.

Thanks - we're hoping to go live soon too.

[Rampion]

I'm using the BETA, but I get the following error when I try to log in:

Should be fixed now - let me know if you are still having issues.

BTW, nice site, hope it can go live soon.

Thanks - we're hoping to go live soon too.

Fixed.

[LeChatNoir]

I was trying to develop a liquidity provider algo to this exchange but it's impossible to work with current rate limits.
I'm receiving the error rate limit exceeded even if i post one request every 6 seconds.
That limit is ridiculously low for developing trading bots.
Hope you will find a way to allow at least 1 order or request per second in the future, this is a very serious issue for an exchange that wants to attract liquidity and be competitive.   
Can you please write of these limits in the API page?
It sucks to lose 3 working days to code something big and then realizing it can't work because of this ridiculous low rate limit!

[Dargo]

I was trying to develop a liquidity provider algo to this exchange but it's impossible to work with current rate limits.
I'm receiving the error rate limit exceeded even if i post one request every 6 seconds.
That limit is ridiculously low for developing trading bots.
Hope you will find a way to allow at least 1 order or request per second in the future, this is a very serious issue for an exchange that wants to attract liquidity and be competitive.   
Can you please write of these limits in the API page?
It sucks to lose 3 working days to code something big and then realizing it can't work because of this ridiculous low rate limit!

Hi - It's not a big deal, but you've necroed our beta thread. We have a post-launch thread now and that's the best place to post stuff (it's in this same subforum). 

I agree that if you're trying to operate as a liquidity provider or market maker, the standard limits aren't nearly enough. But we do offer higher limits for people who will be acting as liquidity providers. Just create a support ticket about it and PM me with the ticket number.

The standard rate limit should allow for 1 call every 5 seconds, so I'm not sure why you're having trouble with 1 call every 6 seconds.