[EBM] Poloniex

[Akado]

Does anyone have a chart showing Polo's volume evolution throughout time? Or about any other exchanges? Also when did they started leverage trading?

Same question for any other exchanges with leverage.

I think this would be interesting to know so we have an idea on what to expect if we implement Bond Markets. The potential for our current volume to grow.

btw @puppies xeroc and alt have shared their bots with the community

[puppies]

I put some CNY orders up on polo.  Anyone have a simple bot to keep orders up on either side of the peg?

[TravelsAsia]

If anyone is in direct contact with Poloniex, we could use some help adding MUSE to their service.

[puppies]

Very good point abit.  In contrast the bitusd market on polo seems much healthier.

[abit]

Polo now has bitUSD market
https://www.poloniex.com/exchange#btc_bitusd

And also bitCNY
https://www.poloniex.com/exchange#btc_bitcny

They're just not liquid. It would be nice if someone could move operations there.

If we were to create assets and close the internal peg we would see the external spreads reduced quite a bit

Chicken and egg?
Thanks to bitcrab, bitCNY premium is quite low. But why still no liquidity on Polo?

Thats the whole reason for writing a polo-style api .. more liquidity ..
Once it is tested and proven stable .. we could even build a simple to use market maker bot

However to run a market maker bot on Polo it doesn't need our new API at all.

[xeroc]

Thats the whole reason for writing a polo-style api .. more liquidity ..
Once it is tested and proven stable .. we could even build a simple to use market maker bot

[Akado]

Polo now has bitUSD market
https://www.poloniex.com/exchange#btc_bitusd

And also bitCNY
https://www.poloniex.com/exchange#btc_bitcny

They're just not liquid. It would be nice if someone could move operations there.

If we were to create assets and close the internal peg we would see the external spreads reduced quite a bit

We can do it with the proposal to claim the fees right? That should help. Also with an API similar to Polo and a few more bots sprouting we should be able to pull it off. It will just take a while.

[puppies]

Polo now has bitUSD market
https://www.poloniex.com/exchange#btc_bitusd

And also bitCNY
https://www.poloniex.com/exchange#btc_bitcny

They're just not liquid. It would be nice if someone could move operations there.

If we were to create assets and close the internal peg we would see the external spreads reduced quite a bit

[Akado]

Polo now has bitUSD market
https://www.poloniex.com/exchange#btc_bitusd

And also bitCNY
https://www.poloniex.com/exchange#btc_bitcny

They're just not liquid. It would be nice if someone could move operations there.

[clout]

Bear in mind, Poloniex also already has the dollar stable currency, Nubits, which frequently does higher volume than BTS + our BitAssets combined.

Yes, but there are no markets denominated in Nubits. We would want BitUSD or BitCNY to be a base asset for markets on their exchange.

OK. I don't think without a radical solution to address liquidity, they could be convinced. Good luck though, it will be very positive if they do.

 What is average daily BitCNY volume atm?  (Edit: CMC just says 'Low Vol')

During the day in China there is about 10,000 CNY on both sides of the Yunbi CNY/ BitCNY market. I'm not sure about the volume on Transwiser BitCNY bridge, but it allowed BTC38 to accept (prior to the upgrade) individual deposits of  5,000 BitCNY at a time with a max total of 300,000 BitCNY.

[Empirical1.2]

Bear in mind, Poloniex also already has the dollar stable currency, Nubits, which frequently does higher volume than BTS + our BitAssets combined.

Yes, but there are no markets denominated in Nubits. We would want BitUSD or BitCNY to be a base asset for markets on their exchange.

OK. I don't think without a radical solution to address liquidity, they could be convinced. Good luck though, it will be very positive if they do.

 What is average daily BitCNY volume atm?  (Edit: CMC just says 'Low Vol')

[clout]

Bear in mind, Poloniex also already has the dollar stable currency, Nubits, which frequently does higher volume than BTS + our BitAssets combined.

Yes, but there are no markets denominated in Nubits. We would want BitUSD or BitCNY to be a base asset for markets on their exchange.

[Empirical1.2]

Bear in mind, Poloniex also already has the dollar stable currency, Nubits, which frequently does higher volume than BTS + our BitAssets combined.

[clout]

I'm sure they will decline to use it at first... Remember it usually takes a salesman 4 "pitches" before the customer buys.

Well then we have to get those 4 pitches in as quickly as possible

[clout]

How do you think we could best go about incentivizing Poloniex to integrate BitCNY and BitUSD into their platform? How else should we leverage our partnership with Poloniex?

You may point out that CNY/BTC pair often trade at a premium compared to USD/BTC, it should bring polo more Tx fees as there is an arbitrage opportunity.

Yes I was thinking that as well. I will certainly add that point.