If we have many different IOUs from different gateways, would there be any way to implement setting up trade pairs, where one side can be any number of IOUs representing the same underlying asset?
Imagine there being BitStampUSD, BterUSD, and Btc38USD. Within the UI there could be three checkboxes corresponding to each gateway (BitStamp, Bter, Btc38). When you check Bter, you see all bid/ask orders for BterUSD. When you check Bter and BitStamp, you see the combined bid/ask of Bter and BitStamp. When you select all three, you see the combined orderbooks of all three gateways for this asset.
When selecting only one gateway, you only make trades with that gateway's IOU. When selecting more than one, you make trades with all that are selected.
Benfits:
• Combined liquidity
• Tightens spreads
• Simplified UI and UX
• Easily 'shop around' for best rates, keeping gateways competitive
Topic: Forward thinking: Creating markets of combined IOUs (Read 910 times)
