Featured image for Poloniex Clone Script

// Category: Cryptocurrency

Poloniex Clone Script

Featured image for Poloniex Clone Script

Every year, cryptocurrency and blockchain are gaining momentum. With it, the demand for cryptocurrency exchanges is growing. One of the most well-known and popular exchanges is Poloniex, which has established itself as a reliable and secure platform for trading various digital assets. This is why many entrepreneurs and companies want to create their own clone to enter the market of cryptocurrency exchanges. In this article, we will look at the main functionality and trading features of this trading platform and describe in detail how to create your cryptocurrency exchange like Poloniex.

Step 1: Select a business model

Poloniex is a cryptocurrency exchange founded in 2014. The exchange script a platform for over 350 cryptocurrencies, and its daily trading volume exceeds $40 million. Poloniex's core business model is commission-based, meaning it takes a percentage of every transaction through its platform. The amount of commission depends on the trading volume of a particular user over 30 days and the status of the account (there are Silver and Gold subscription levels). The discount on trading commissions can reach 0.0200% for makers and 0.1000% for takers if the trading volume for 30 days exceeds $50+ million. In addition, Poloniex charges a fee for the storage and processing of transactions.


A possible business model for a cryptocurrency exchange. Source.

To create your own app, choose a business model that best fits your project's goals and needs. In addition, you need to consider the financial capabilities and objectives of the project, as well as user needs and market characteristics.

Here are some business models that crypto exchanges commonly use:

  • Commission model. The most common business model for crypto exchanges. The platform receives a percentage of each trade made on its platform. This percentage can be fixed or variable depending on each user's trading volume. The platform may also charge a fee for cryptocurrency withdrawals. This model allows the cryptocurrency exchange to capitalize on the popularity of cryptocurrencies and user activity.
  • Liquidity aggregator. The exchange aggregates liquidity from other crypto exchanges, earning a fee for using its platform. This model is used by almost all major exchanges like Binance clone or PancakeSwap clone, etc.)
  • Fee-for-use. This model is where a cryptocurrency exchange charges a fee for using various features and tools on its platform. The model is suitable for exchanges that provide various cryptocurrency trading tools. This is the model used by Bitstamp, Bitso, and many other popular crypto exchanges.
  • Investment Model. The exchange allows users to invest in cryptocurrencies or funds, receiving a commission for managing the funds. Coinbase, Binance, and other exchanges use this monetization model.
  • Subscription model. Assumes that users pay a fixed monthly fee to access the p2p crypto-exchange script and other services it provides. This model allows the crypto-exchange to generate a steady revenue stream and provide a better service to its users. This is the monetization model used by crypto exchanges Lykke and BitMEX.
  • Advertising. Another popular way to monetize crypto exchanges. It assumes that the platform will receive revenue from advertisements on its platform (on the website, in the application, social networks, etc.). Platforms with high traffic usually use this model.

Step 2: Hire a Development Team

Choosing the right crypto exchange app development team is one of the keys to the project's future success. You will need to find experts who can develop a secure and reliable crypto exchange that can handle large transaction volumes and support many different trading options and features. In doing so, choosing a team with experience in developing cryptocurrency trading platforms and other blockchain projects is advisable.

One such cryptocurrency exchange development company is Merehead. Our team has been developing blockchain-based solutions since 2015 and has a portfolio of successful cases of various complexity and directions.


Betconix — one of the exchanges developed by Merehead.

Step 3: Decide on the Poloniex functionality

Crypto exchange user interface

This is the main interface through which users (traders, investors) can manage their accounts and conduct transactions on the crypto exchange. This panel should be user-friendly and intuitive and provide maximum functionality.

Registration. Registering is the first step for any user wishing to use your exchange. Users should be able to create a profile on the exchangee using multiple authentication options (mail, phone, Google, and Apple accounts). In addition, you need to provide identity verification (KYC), which usually involves checking documents and investor details.


Poloniex exchange registration process.

Account management. Allows you to manage your profiles and security settings. This can include changing personal details, setting up authentication, setting desired payment methods, and withdrawals. Transaction history tracking, investment portfolio analysis, and viewing current token prices can also be included.

Spot cryptocurrency trading. This feature lets users quickly and conveniently trade cryptocurrency assets at the current market price. Users can monitor price, volume, and market depth changes in real time and use different types of orders to manage their trades. It is a mandatory feature.


Spot trading terminal on Poloniex.

Margin trading in cryptocurrency. When creating a margin trading feature for your crypto-exchange, users should be able to borrow and trade cryptocurrency on the exchange with specified margin (leverage) parameters. There should also be risk control and position liquidation mechanisms to minimize risk for users and the exchange itself.

Cryptocurrency futures trading. This feature allows users to enter into contracts to buy or sell cryptocurrencies in the future at a predetermined price. When creating this feature for your exchange, you need to develop futures tools, such as margin trading, liquidity management, and risk management. You also need to provide information about current and previous contracts so that traders can monitor market conditions.

P2P cryptocurrency trading. Allows investors and traders to exchange cryptocurrencies with each other directly, without intermediaries. To create this feature, identity and security verification mechanisms, payment processing tools, and multi-currency support must be developed when launching a white label crypto exchange. This needs to take into account restrictions and regulations in different countries.

Passive cryptocurrency earning. When creating your exchange clone, you should also implement an Earn feature that allows users to earn passive income on their crypto assets, for example, by participating in a steaming or income farming program. When creating this feature, you must develop a simple and user-friendly interface for asset management, define the conditions for participation in the staking program, calculate the rate, and set the income accrual mechanism. It should also be possible to withdraw tokens to external cryptocurrency exchanges or wallets.


Earn section interface on Poloniex exchange.

Notifications and alerts. A system that monitors the trader's activity is necessary. It sends him messages about events, such as price changes, successful order execution, and others the user may want to be informed about. There should also be a manual setting of notifications according to the preferences of every single user. 

Analytical tools. To create this functionality, charts, and graphs showing the real-time rate dynamics of various cryptocurrencies should be developed, as well as indicators and analytical tools to identify trends and predict changes in the market. These tools can include standard technical indicators such as moving averages, stochastic oscillators, volume indicators, and particular indicators developed for analyzing the cryptocurrency market.

Customer support. Users should have access to support in case of problems or questions. Chat support, email support, and a ticketing system should be provided as minimum customer support features.

Dapps support.A Dapps (decentralized applications) support function includes using blockchain-based applications directly through a cryptocurrency exchange script. To create such a feature, integration with various blockchain platforms must be developed, and users must be able to manage their assets within the Dapps applications through the exchange interface. A dedicated infrastructure may also be needed to support the operation of Dapps, including smart contracts, multi-signatures, etc.

NFT support. To create such a feature, you need to implement the ability to sell and buy NFT on the exchange platform, support for multiple blockchains including Ethereum, Binance Smart Chain, Polygon, and others, as well as tools for NFT marketplace and support for smart contracts to transfer rights to tokens automatically. You can also add NFT storage functionality to the crypto exchange wallet and the ability to create your tokens.

Security. One of the most essential functions of a crypto exchange is to ensure the safety of user data and funds. Security can be guaranteed through two-factor authentication, advanced encryption algorithms, and other security measures.

Crypto exchange dashboard

Creating an admin panel is essential to developing a Poloniex cryptocurrency exchange clone, as it is designed to manage all aspects of the exchange. The main functions of this panel may include:

User management. Allows to create, verify and verify new users, change profile details, and manage the exchange functionality's access level.

Cryptocurrency Management. Allows the administrator to add new cryptocurrencies to the exchange, remove them, and set trading rules for each currency.

Management of payment systems. Here the administrator can add new payment systems, set up commissions, and other parameters related to deposits and withdrawals.

Exchange settings management. On this screen, the administrator can set up different parameters of the exchange, such as languages, limits on transactions, commissions, and others, which affect the operation and convenience of the platform for users.

Security Monitoring. Allows tracking and analysis of all activity on the platform, including transactions, user registrations, and other events. This helps administrators respond promptly to any suspicious activity or security breaches.

Step 4: Plan the Platform’s Architecture

The platform architecture describes the overall structure, the components required to implement the platform's functionality, and the interaction between them. When creating a Poloniex crypto-exchange clone, it is recommended to use a microservices architecture, as it will break the system into independent microservices, each responsible for its own specific function. This will simplify the application's development, testing, and scaling and increase its fault tolerance and flexibility in changing functionality.

In addition, the microservice architecture allows the use of different technologies and programming languages for each microservice, simplifying the development and updating of the system as a whole.


An example of a cryptocurrency architecture plan.

Step 5: Develop the UX/UI design of the Poloniex clone

The design of the Poloniex exchange includes a simple and intuitive interface whose primary colors are white, black, gray, and green. The main menu is at the top of the screen, where the user can switch between functions such as trading, deposits/withdrawals, history, etc. The central part of the screen contains charts and tables with information about the market and current trades. The exchange also allows users to customize charts and tables displayed according to preference.


A crypto exchange design example similar to Poloniex. Source.

Poloniex's design is simple and user-friendly, primarily focusing on functionality and informativeness. But it does have its problems. Most importantly, many traders consider Poloniex's web interface and app design outdated ("rustic"). Therefore, when launching your exchange, it is better to avoid copying the Poloniex design but develop it from scratch.

How to develop the design of an exchange like Poloniex:

  1. Market research. Researching user needs analysis of competitors' interfaces, defining the design requirements, and improving user experience.
  2. Creation of the design concept. Development of the design idea, creation of layouts, and defining the style and color scheme.
  3. Prototyping the interface. Using special cryptocurrency exchange software ensures a quick and easy prototyping process, which can be tested.
  4. Testing the prototype. Checking the prototype for compliance with requirements, identifying weaknesses, and improving the interface.
  5. Design development. Creating GUI elements, icons, and other visual elements, defining typography and button design.
  6. Adapting the design. Creating a version of the site that will display correctly on different devices, such as smartphones, tablets, and desktops.

Step 6: Write the Backend and Frontend Code.

Backend. In an exchange such as Poloniex, the backend is responsible for several functions, including processing user requests, storing data on user accounts and balances, managing trade orders and transactions, and ensuring transaction security. The backend is essential to an exchange's infrastructure and should provide high performance, scalability, and security.

The technology stack for creating a Poloniex clone backend:

  • Programming languages: Java, Python, Go, C++, Rust.
  • Server frameworks and libraries: Spring, Flask, Gin, Rocket, Express.
  • Databases and data storage systems: PostgreSQL, MySQL, Oracle, MongoDB, Redis, Apache, Cassandra.
  • Data processing and storage: Apache Kafka, Apache Spark, Apache Hadoop, Apache Flink.
  • Infrastructure and deployment: Docker, Kubernetes, Ansible, Terraform, Amazon Web Services (AWS), Google Cloud Platform (GCP), Microsoft Azure.
  • Monitoring and logging systems: Grafana, Prometheus, ELK Stack (Elasticsearch, Logstash, Kibana).
  • Cryptography and security: OpenSSL, Hashicorp Vault, Let's Encrypt, OAuth2, JWT.
  • Protocols and APIs: WebSocket, REST, FIX API, JSON-RPC, GraphQL.
Frontend. Responsible in general for the user interface of the exchange and interaction with the user. It allows you to create accounts, perform cryptocurrency trading operations, access analytical tools, and manage your accounts. It also ensures that the exchange interacts with the user through notifications, which helps the user keep track of market changes. In addition, the cryptocurrency exchange frontend includes various tools and charts to help make data-driven cryptocurrency trading decisions.

The technology stack for creating a Poloniex clone frontend:

Step 7: Test the script

Testing plays a key role when developing a clone, as bugs and problems can be detected before the product is launched in a natural environment. This helps save time and resources and increase user satisfaction. In addition, testing helps to reduce risks and increase system reliability, which is especially important for cryptocurrency exchanges.

Types of testing during Poloniex clone development:

  • Unit testing: testing each feature or module separately to ensure each component works properly.
  • System testing: testing the entire system ensures all components work together and interact correctly.
  • Integration testing: checking interactions between different components and modules to ensure they work together correctly.
  • Functional testing: verification of system functionality, comparison of results with expectations, and verification of compliance with requirements.
  • Performance testing: checking the system under high load to ensure it can efficiently handle user requests.
  • Security testing: testing the system for vulnerabilities and security issues to ensure user data is protected and confidential.
  • Smart contracts testing: testing smart contracts under different conditions to make sure they are secure and working correctly.

Step 8: Launch the Support Team

Customer support is an integral part of any crypto exchange, as it helps users solve problems and answer questions. A reliable and responsive helpdesk helps build trust with users and improve their experience using the platform.

To launch a support service for an exchange, it is necessary to:

  1. Define a format for user requests (e.g., email, phone, social media, ticket system, or online chat).
  2. Develop a procedure for handling user queries, including priorities and response times.
  3. Train the support team to respond to user queries according to established procedures.
  4. Integrate the support service with the exchange platform so staff can quickly access the necessary information to resolve user problems.
  5. Create a knowledge base and FAQ section on the exchange website so that users can find answers to the most frequently asked questions.
  6. Assign persons responsible for monitoring and analyzing users' requests to identify problems and prevent their occurrence in the future.

Cost of a Poloniex clone development

The cost of developing a Poloniex clone depends on many factors, such as the scope of functionality, the technologies and programming languages used, the complexity of the architecture, the number of developers, and the time spent on development. In addition, the cost of developing a crypto exchange can be increased due to additional requirements such as platform security and scalability, as well as various integrations and functionalities required to meet user needs.

Here is a rough cost estimate for creating a Poloniex clone:

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