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Introduction
Measuring the success of Kraken's Kraken Core feature requires a comprehensive approach that considers multiple stakeholders and metrics. To address this product success metrics challenge effectively, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.
Framework Overview
I'll follow a simple success metrics framework covering product context, success metrics hierarchy.
Step 1
Product Context
Kraken Core is the central trading engine of the Kraken cryptocurrency exchange. It's responsible for matching buy and sell orders, executing trades, and maintaining the order book. Key stakeholders include traders (both retail and institutional), market makers, and Kraken's internal teams (engineering, finance, compliance).
The user flow typically involves:
- Placing an order (market, limit, or advanced order types)
- Order matching and execution
- Trade settlement and account updates
Kraken Core is crucial to Kraken's strategy as a leading cryptocurrency exchange, directly impacting user experience, trading volume, and revenue. Compared to competitors like Binance or Coinbase, Kraken Core aims to differentiate through reliability, speed, and advanced features for professional traders.
In terms of product lifecycle, Kraken Core is in the maturity stage, with a focus on optimization and maintaining market share.
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