Executive Summary
Integrating a native, API-driven execution layer can transform a static asset storage tool into a high-retention transaction hub. For Cake Wallet, addressing a key conversion bottleneck through a strategic infrastructure partnership enabled significant user growth while maintaining lean operations.
By implementing the ChangeNOW API for in-wallet swaps, the platform captured market demand without increasing internal technical debt.
Key Performance Metrics:
- 117x User Base Growth: Expanded from 15,000 downloads to over 1.75 million users.
- Sustained Engagement: Maintained 300,000 Monthly Active Users (MAU) with retention rates above industry benchmarks.
- Lean Scaling: Delivered native multi-asset functionality with no ongoing maintenance required from the core team.
When Disjointed UX Becomes a Business Risk
As user portfolios shifted from single-asset (Monero) holdings to more complex, multi-asset distributions, Cake Wallet identified a significant risk: the absence of an internal execution layer. Users could store assets, but managing them required leaving the app.
Fragmented transaction flows introduce multiple points of failure:
- Suppressed Conversion Rates: Friction during execution reduces completed swaps, limiting platform utility and revenue.
- Eroded Lifetime Value (LTV): When a product serves only as a storage vault, user retention declines as clients move to platforms with unified execution.
For Cake Wallet, this business risk was uniquely compounded by its strict privacy-first architecture. Operating with zero behavioral analytics, the product team could not rely on traditional funnel tracking to identify micro-drop-offs. Consequently, macro transactional friction became the most critical visible risk to long-term retention. Resolving this required shifting the product from a passive holding environment into an active execution layer.
Bypassing Tech Debt via Infrastructure Delegation
To achieve this shift, Cake Wallet faced the classic "build vs. buy" decision. Building a custom cross-chain aggregator would require significant engineering resources, ongoing node maintenance, and complex liquidity management. After evaluating the technical debt, the team chose to integrate the ChangeNOW API.
By delegating the execution layer, including routing, liquidity aggregation, and cross-chain mechanics, to an established infrastructure partner, the platform maintained lean operations. This allowed Cake Wallet’s engineering team to focus on core security protocols and UI improvements.
