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TLDR: SNIPE IS THE MOST ROBUST ONCHAIN TRADING EXPERIENCE EVER BUILT

Overview

Centralized exchanges have historically been the largest businesses in crypto, comparable only to the biggest stablecoins and most popular L1 blockchains in terms of revenue. Their on-chain counterparty, trading terminals, have become some of the most ubiquitously used products in cryptocurrency, commanding a sector-wide revenue that is incomparable to any other cryptocurrency business. Despite their comparable utility and TAMs, trading terminals today are sorely lacking in quality of infrastructure, features, and user retention when compared to centralized trading venues.

The reality is that blockchain technology is sufficiently advanced that exchange infrastructure built on-chain shouldn’t provide a worse user experience than centralized equivalents. Blockchains are faster than users know - terminals are built far slower than users realize. We’re building to address this reality. **Snipe** is building the world’s first, _fully integrated trading stack_ for blockchains; vertically integrated block building, and horizontal integration across all markets traders participate in.

Product

Snipe

Snipe is our retail facing product, a cutting-edge trading terminal designed to aggressively absorb market share. We’ve rebuilt the standard trading tech stack from the ground-up, providing truly HFT-grade infrastructure for retail usage for the first time and achieving a 30-50x* improvement in DEX trading latency. Our vast improvement in latency opens up a far richer trading space than any competitor: Snipe is the first product able to offer efficient on-chain TWAPs, gas-efficient bundling, multi-wallet trading, and much more. Via Caliber, Snipe holds an inherent advantage over value-leaking competitors, allowing us to undercut fees and offer superior user rewards.z

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Caliber

Caliber is our vertically integrated block-building solution. Capturing the block-building layer means internalizing the largest value leak blockchain applications have - the cost of using a blockchain. The mining tips/priority fees users pay for priority transaction ordering are often larger than the transaction fee charged by the trading platform itself. Capturing this revenue allows Snipe to position itself more competitively in the market, with the freedom to undercut competitors and absorb more market share. As we gain control of sufficient on-chain orderflow, our business will transition towards a greater focus on block building - a position that is both more defensible and profitable over the long term.

Unique Differentiators

Unified Trading Accounts

One user, one portfolio. Unlike other terminals that completely segregate user balances on different chains, Snipe offers a unified experience with full native asset support. Users will not need to hold Bitcoin on Coinbase, ETH on Rabby, and SOL in Axiom ever again — Snipe lets you swap and hold any cryptocurrency asset in its native form, across hundreds of different blockchains. Unified Accounts are facilitated by deriving multiple private keys across multiple blockchains from a single BIP-39 seed phrase, enabling self-custody across almost any blockchain - without the friction of managing separate seed phrases.

OTC Aggregation

Snipe facilitates native asset swaps through an internal aggregator system that sources liquidity from OTC desks and centralized exchanges. Via the aggregator, we can facilitate unified accounts and enable users to access any cryptocurrency asset they wish — without wrapper risks or sacrificing self-custody. Snipe plugs into 40+ different exchange venues, from centralized exchanges and OTC desks, to instant exchangers.

Longevity

We believe that speculating on-chain will always exist in some form or another, and are committed to being the layer through which users interact with blockchains in a more general fashion. Whether the vehicle for speculation will be memecoin trading, prediction markets, or even perpetual futures, we are convinced that it will increasingly take place on-chain. Competing terminals currently on the market lack flexibility and are completely meta-dependant - they derive their revenues from one asset class (memecoins) on one chain (Solana). In recent times, when volume began to shift away from Solana towards BSC, the largest incumbents were left unable to adapt quickly enough and consequently, lost market share. It's astonishing that current trading platforms wait for volume to move before they provide a product for the new market, as opposed to reinvesting in the business and widening product offerings. Snipe is focused on horizontally scaling across as many markets as are available

Team

Apras Bedi

Rehan Bedi

Nathan Clark

Aditya Chaturvedi

Daniel Key