Archives
#003· 2019 ·Sunset
Archived

DRG OTC

A public board for peer-to-peer token trades. You pasted a Bitberry escrow link, the site read it and listed it, and anyone could join the trade without signing up.

The bet
Bitberry had just shipped a free escrow service for person-to-person token trades, and HUNT had been listed on the wallet about a month earlier. Hunters wanted somewhere to share those trade links. Bitberry's own share modal said it plainly: it did not offer a marketplace for traders. We built the marketplace layer and left the escrow to them.
What worked
The core of the product was one input row: a source dropdown, a field for the escrow URL, and an Add Trade button. Paste a Bitberry link and the site read the expiry, the price and the token details off it, then listed the trade for anyone to join in one click. Two features arrived after the launch announcement and were the better half of the product: a Margin column that priced each trade against the market so you could see the spread before taking it, and a Telegram bot that posted every new trade to a group. Most tokens on the board were marked Unlisted, with no exchange price at all, which is what OTC is actually for.
What broke
It held no funds and ran no matching engine. Every row on the board started as a Bitberry escrow link, so the product rested on one company staying in business, and it inherited that company's rules, and the launch post warned you might hit a KYC requirement before you could use the escrow at all. The team's read is that Bitberry shut down its business, and when the escrow went, the board had nothing left to list.
What it seeded
Nothing later grew directly out of it, but it taught us something about position: we had built the thin layer on someone else's rails, and the company underneath could end our product by closing its own. Mint Club later put us on the other side of that line, as the rails other teams build on.
More
Meta
2019-09-27EthereumIntroducing DRG OTC