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Main => General Discussion => Topic started by: abit on December 15, 2019, 08:27:19 pm

Title: Market making contest, stage three (updated)
Post by: abit on December 15, 2019, 08:27:19 pm

Update (2020-01-10):
Please check https://bitsharestalk.org/index.php?topic=32007.0 for latest info.

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In stage one we have these market paris:

BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS

In stage three, these pairs will be kept but daily rewards will be reduced to 10,000 BTS each market pair, in the meanwhile all other parameters will be kept unchanged:
* buyer:seller reward ratio 70:30,
* target depth of each group 1,000,000 BTS,
* minimum valid order size 100 BTS.

In addition, in stage three, following market pairs will be added to the contest (bitFiats include bitCNY, bitUSD, bitEUR and bitRUBLE):

* [gateways].BTC / bitFiats,
  - daily reward 5,000 BTS,
  - buyer:seller reward ratio 50:50,
  - target depth of each group 4 BTC,
  - minimum valid order size 0.001 BTC

* [gateways].ETH / bitFiats,
  - daily reward 5,000 BTS,
  - buyer:seller reward ratio 50:50,
  - target depth of each group 200 ETH,
  - minimum valid order size 0.05 ETH

* [gateways].EOS / bitFiats,
  - daily reward 5,000 BTS,
  - buyer:seller reward ratio 50:50,
  - target depth of each group 10,000 EOS,
  - minimum valid order size 2 EOS

* [gateways].USDT / bitFiats,
  - daily reward 5,000 BTS,
  - buyer:seller reward ratio 50:50,
  - target depth of each group 50,000 USDT,
  - minimum valid order size 10 USDT

---
Q: why there is no stage two?
A: stage two was planned as adding BTS/someCNY pairs, but it's too hard to proceed, so we directly enter stage three.

Discussions in Chinese: https://bitsharestalk.org/index.php?topic=31892.0

Title: Re: Market making contest, stage three
Post by: zhouxiaobao on December 21, 2019, 11:11:00 am

please,start it quickly.  :'(

Title: Re: Market making contest, stage three
Post by: zhouxiaobao on December 24, 2019, 02:20:47 pm

The third stage of the contest will save BTS  ，I hope it starts soon.

Title: Re: Market making contest, stage three (updated)
Post by: abit on December 28, 2019, 09:10:37 pm

OP updated.

Title: Re: Market making contest, stage three (updated)
Post by: Thul3 on January 04, 2020, 08:35:25 pm

Reward should be increased for USDT pairs and Ratio should be changed in favour of seller.

Bitfiat is looking for BTS or major assets
Currently we have bigger supply of bitfiat than demand for it on all bitfiats so getting bitfiats on market doesn't need to be rewarded so much.Instead we should focus to get as much as possible USDT against bitfiats as these will increase buy support of BTS on CEX without creating any sell walls.


My personal proposal

* [gateways].BTC / bitFiats,
  - daily reward 6000 BTS,
  - buyer:seller reward ratio 70:30,
  - target depth of each group 4 BTC,
  - minimum valid order size 0.001 BTC

* [gateways].ETH / bitFiats,
  - daily reward 3000 BTS,
  - buyer:seller reward ratio 70:30,
  - target depth of each group 200 ETH,
  - minimum valid order size 0.05 ETH

* [gateways].EOS / bitFiats,
  - daily reward 3000 BTS,
  - buyer:seller reward ratio 70:30,
  - target depth of each group 10,000 EOS,
  - minimum valid order size 2 EOS

* [gateways].USDT / bitFiats,
  - daily reward 8000 BTS,
  - buyer:seller reward ratio 70:30,
  - target depth of each group 50,000 USDT,
  - minimum valid order size 10 USDT

Title: Re: Market making contest, stage three (updated)
Post by: abit on January 05, 2020, 04:49:58 am

Code is ready, please review: https://github.com/abitmore/bts-mmcontest-scripts/commit/0b88627ca4ce6968f646b063f440736dcbe9b064

Title: Re: Market making contest, stage three (updated)
Post by: kingscrown on January 07, 2020, 02:41:23 am

thanks for update