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Main => Stakeholder Proposals => Topic started by: MarkoPaasila on December 23, 2017, 11:02:30 am

Title: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on December 23, 2017, 11:02:30 am
Introduction
Market making can be a very profitable and rewarding enterprise.. For the uninitiated, market makers provide liquidity by placing limit orders on both sides of the books anticipating to earn a small profit thanks to the spread (or difference of the bid and ask) on any given trade. On the Bitshares DEX, while all markets could use more liquidity (which is provided by such market makers), there are also many dead or illiquid markets. This not only presents a problem for traders and businesses wanting to place large orders, on the DEX but presents a massive financial opportunity for people to become market makers.

At the moment it appears the DEX already has a few major market makers using their own private software. There are also a few open source projects on GitHub in mostly bare-bones, unfinished states. One project on GitHub, created by a long standing member of the community, is no longer available. This project was called BTSBots. It worked, was freely available to everyone and there was an Android app. This trading bot was not in a finished form, nor was it easy to use, in part due to the language barrier with the developer, many people still made a lot of money and helped add  liquidity to our markets before it went offline.

The importance of BTSBots to the Bitshares ecosystem is demonstrated by the sharp drop in “Daily Orders Created”, a measure of liquidity, by over 85% to a recent low of just ~53k in the course of just 2-3 days (right after public BTSBots access was revoked).

Quote
Revision, 12/16: “aperson” has has forked BTSBots and launched “Bitsharesbot” to the public. Limit orders measure has since slowly started to recover.
Link: https://steemit.com/bitsharesbot/@aperson/bitsharesbot-is-now-stable-reduced-fee-and-public-price-feed-available-tonight-feed
 (https://steemit.com/bitsharesbot/@aperson/bitsharesbot-is-now-stable-reduced-fee-and-public-price-feed-available-tonight-feed)
This damaging event has caused the BTS community to spring to action to build a more suitable, open-source, “official” baseline for community use moving forward. Even before now, several  community members got together and created a Telegram group with the purpose of discussing market making strategies and methodologies to profit while improving  liquidity on the DEX. We have discussed advanced theoretical strategies, written guides, helped people set up bots, and taught various manual staggered orders approaches. In doing so, we have built the foundation of a very diverse community of journeymen to highly advanced market makers. There are now over 100 people in our room, now without  their main weapon (BTSbots).

It is our belief that Bitshares markets should be different to markets of the past in which just a handful of market operators  pull the strings behind the curtain. We want to provide the tools for everyone to become a market maker - whether a basic one or with the freedom to progress beyond using the framework we’ve developed. The more market makers we have the greater the competition for profits, lowering costs for users.

We have been in contact with Bitspark and they have advised us of their plans to provide bots as well. We don’t want to be stepping on each others toes but rather work together in order to provide as much liquidity as possible. Since the loss of BTSBots and speaking to Bitspark, we now believe our first goal is to provide a replacement or alternative (if it ever comes back online) to BTSBots. The new bot will be far more user friendly and free for everyone to install and use on their own computers.

This Worker will implement several strategies, one by one, with user-friendly interfaces. BitShares will provide the community these tools, free of charge, in order to keep its markets liquid, competitive, and far more transparent than it’s centralised competitors.

The Goals
The BitShares community will have the necessary tools to provide liquid markets in a decentralised way, without the any single point of failure. The software provided will have all the necessary strategies for providing liquidity and real-world prices, and all possible strategies that add actual value to the markets in the DEX. These are mostly market making strategies.

Details of such are further detailed in our supporting document: https://docs.google.com/document/d/1hOPhow3WBwQmeNkL0JrIufvfE2TvsORD1OK0Xg3JnVg/edit# (https://docs.google.com/document/d/1hOPhow3WBwQmeNkL0JrIufvfE2TvsORD1OK0Xg3JnVg/edit#)

The necessary elements to providing liquid markets are immediate liquidity, market depth, and prices close to those of other exchanges. There are a several different strategies that can be used to reach these objectives. The exact strategies to be implemented first are the ones we identify as lowest hanging fruit. We will make the decisions transparently throughout development, utilizing community input.

The provided open source software will function as a good basis for developing custom solutions and custom strategies. For example, remittance services can customize the software to meet their specific needs, and provide it as a user friendly package to their communities. The creators of User Issued MPA’s can customize the software to support their own markets. Thus, this Worker will support many future efforts to provide value to the ecosystem.

The specific strategies with details will be discussed elsewhere, such as in the above link, and we will discuss them openly with the community before and during implementation. The most up-to-date information will be in the Telegram Chat (see below). This document is an overview of the proposal.

Developers
In practice, the Worker will be a community escrow which aims to allocate the funds to maximize the value provided to the community as a whole. We have secured developers for the job, but will also pay bounties to freelancers and possibly acquire more developers to speed up development.

The developers are employed by the software company Codaone Oy, registered in Finland.

Mika Koivistoinen as main developer.
Vesa Toivonen as Designer
Juhani Haapala as Python developer.

BitShares representatives
Marko Paasila. Bitshares proponent since 2014. Experience in product development, project management and cryptocurrencies. I will communicate the community's needs and priorities to the developers and ensure good quality.
StatDude - Bitshares enthusiast, experienced market maker, trading bot architect.

Schedule
The worker will begin on Monday 2018-01-01 and end on 2018-12-30. The Worker can be terminated earlier by the community. The coders will begin work as soon as possible during the beginning of January. The development speed will be up to the team. Funds in escrow will be released at each completed milestone. Development will be done in 2 week sprints, with release on monday’s for ensuring better response time and support. Each new feature will be tested and made user friendly before proceeding to the next one.

A target list of features and milestones will be provided and mapped to progress on our living Strategy document.

The initial roadmap is:
Milestone 1: Basic/Relative orders bot with GUI, user defined price and spread, and a simple interface. Installable package. (Single pair)
Milestone 2 Staggered orders bot supporting multiple market pairs (Management page - multiple pairs)
Milestone 3: Manage several bot instances (accounts) within the same interface (Management page - multiple accounts)
Milestone 4: Reporting, full trade history export / Performance monitoring graphs
Milestone 5: Streamline bot creation, funding, cloning and deletion
Milestone 6: Support use and custom weighting of feeds to DEX from some other exchange
Milestone 7: Addition of social features (chat / leaderboards)
Milestone 8 and forward. More features based on community input.

The schedule and priorities will be adjusted constantly based on realities and community input.

Payment
We ask for a daily budget of $660. Since the payment is in BTS, we ask for 6600 BTS per day, which should suffice even if the BTS price temporarily falls to $0.10. The BTS will be sold for BitUSD at market price. At the end of Worker period, all excess funds will be returned to the treasury.

The received funds will be held in escrow in a 3 of 5 multisig account controlled by @MarkoPaasila, @cryptokong, @Permie, @Kimchiking, and @Cryptick The escrow will exchange the funds to bitUSD and return all excess BTS to the pool, as explained in http://www.bitshares.foundation/worker/ (Under Escrow Worker Model).

Payments will be made on successful milestones. Development costs can only be estimated beforehand, but the developer takes the risk. The escrow multisig is responsible for evaluating the quality of the released software. All payments will be made public and accounted for transparently.

Miscellaneous
The software will be provided under the MIT-licence, just like bitshares-core and bitshares-ui.

There will be a website to represent the software with introductions to different strategies and guides for getting started.

We will provide weekly updates on the progress.

The key metric to follow is either liquidity or market depth. We will design a suitable KPI and update it weekly.

Because the software is funded by the community, it will not contain strategies that don’t add value to the whole. These are Technical Analysis Trading strategies and any other strategies that reduce liquidity without increasing it somewhere else.

Contacts
Project Coordination:    Marko Paasila (@MarkoPaasila)
Telegram Rooms:          https://t.me/BTSLiquidityBotWorkerProposal (https://t.me/BTSLiquidityBotWorkerProposal)
                                                     https://t.me/DEXLIQUIDITYBT (https://t.me/DEXLIQUIDITYBT)S
Reports and Information:    MarkoPaasila[/member]/]https://steemit.com/@MarkoPaasila/ (https://steemit.com/[member=26934)
               


Appendix

Pays for Itself
A trading bot has the ability to greatly increase the number of transactions that take place. Current analysis indicates that about 80% of trading is already from bots. These heavy traders only represent 20% of the total traders. With a basic bot that can trade day and night even while investors sleep, it is not unrealistic to see a huge spike in activity. This activity will bring in more trading revenues. There will be more lifetime memberships, more transaction fees generated and more market makers holding assets such as bitUSD, open.btc or bridge.btc benefiting our gateways too.

A Bot for the Common Investors
Highly advanced bot development may be an area for specialized traders, however building a basic bot is about creating the tools and environment that can allow every single member of the community a way to participate, control risk and position themselves for success. This gives them a way to increase participation in the markets and the community by helping to reduce risk and cost to others. Communities often spend public money in building roads, railroads and airports. A basic bot,providing liquidity, is akin to this infrastructure so development funded by the communal funds is warranted. A simple interface that allows every person tools to automate basic strategies is the first goal. All bitshares participants will benefit from a trading bot whether they use it directly via trading or indirectly through greater liquidity.

Market Makers Community
We have already started building our base and anyone is free to join, there is so much potential here already waiting to pump liquidity into our markets, we just need the tools. We already have guides on how to add liquidity by means of manual trading but to contribute meaningfully that would be very time consuming.

Our vision is to have a thriving community of market makers spread all over the world, of all different sizes, using the tools provided to them by the community. With the more knowledgeable, experienced market makers helping the new guys get started. Good market makers could be given access to manage other people's accounts, earning from the transaction fees created by the bots if they referred them. This opens up a whole new revenue stream that many will have not even considered. A mentor and apprentice scheme where the better your apprentice is the more transaction fees you will benefit from over time.

We expect people will work together in teams to provide liquidity to their favourite coins and that this will get quite competitive in the beginning as the usual crypto tribalism sets in. This will result in other crypto communities depositing their coins on our gateways and borrowing assets such as bitUSD to make the market.

We imagine people not only creating their own tokens but having the tools available to create the required liquidity in order for people to instantly trade it too. You could have a fully functioning market up and running very quickly for an asset you had created providing you had the tools and funds to do so.



EDIT: There is a duplicate of the Worker Proposal. Please vote for the one with "($660/d)":

DEXBot - User Friendly BitShares Market Making Bots ($660/d)

Please remove your votes from this one:

DEXBot - User Friendly BitShares Market Making Software

Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: yvv on December 23, 2017, 04:29:31 pm
Can we support this please? The expenses which they request will eventually return back to reserve with trading fees, so the community is unlikely to lose something. And open trading bot has proven to be a strong selling point. Can you name many exchanges where a regular user can set up account and start automated trading in few minutes?
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: Brekyrself on December 23, 2017, 07:28:29 pm
Many users would also feel more comfortable using this if a BitShares dev peer reviewed the code.  That would also help iron out any bugs and speed development.  Perhaps Alfredo or Abit could help with this?
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on December 23, 2017, 07:38:32 pm
Many users would also feel more comfortable using this if a BitShares dev peer reviewed the code.  That would also help iron out any bugs and speed development.  Perhaps Alfredo or Abit could help with this?
yea, no problem, if it gets accepted i will help them in what i can. did not readed fully yet but good luck!
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on December 23, 2017, 07:53:27 pm
Many users would also feel more comfortable using this if a BitShares dev peer reviewed the code.  That would also help iron out any bugs and speed development.  Perhaps Alfredo or Abit could help with this?
yea, no problem, if it gets accepted i will help them in what i can. did not readed fully yet but good luck!

Thanks Alfredo! I  think we will mostly be using the stakemachine python code, but we hope the core developers at least have a look at the code for the sake of safety.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: pc on December 24, 2017, 02:01:53 pm
Many users would also feel more comfortable using this if a BitShares dev peer reviewed the code.  That would also help iron out any bugs and speed development.  Perhaps Alfredo or Abit could help with this?

AFAICS this project will only use the API. IMO Abit's and Alfredo's is better spent on the core.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on December 24, 2017, 02:35:27 pm
please note you have 2 active worker proposals that are actually the same(http://bitshares-explorer.io/#/workers)

http://bitshares-explorer.io/#/objects/1.14.73/
and
http://bitshares-explorer.io/#/objects/1.14.74/

need to make clear everywhere to the stakeholders for what to vote as they can't be deleted or updated!
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: yvv on December 24, 2017, 03:24:46 pm
Can one of these proposals be recalled?
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on December 24, 2017, 03:31:16 pm
Can one of these proposals be recalled?


At this time it is not possible, there is a bsip to support worker upgrade operation here: https://github.com/bitshares/bsips/blob/master/bsip-0028.md

It is something that definitely will be added but unfortunately not there yet, sorry about that.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on December 24, 2017, 07:44:01 pm
please note you have 2 active worker proposals that are actually the same(http://bitshares-explorer.io/#/workers)

http://bitshares-explorer.io/#/objects/1.14.73/
and
http://bitshares-explorer.io/#/objects/1.14.74/

need to make clear everywhere to the stakeholders for what to vote as they can't be deleted or updated!

Yes thanks for pointing that out. What apparently happened was this:

So it appears that a multisig account can create a WP but if it doesn't have LTM the error message won't indicate that. Maybe I should create an issue of this?
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: luther on December 24, 2017, 08:04:04 pm
I support this project and will be volunteering my help throughout.

I've forked and architected major improvements to other MM bots on github (similar to Trade Machine) and have done over $150mm in non-direction market making volume. This expertise will go towards advising this project.

Please Stat-Dude as proxy if you haven't already.

Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: R on December 26, 2017, 12:57:54 pm
Sounds like an interesting proposal, I'd like to see support for additional price feed sources - BTSBOTS was overly reliant on Poloniex for price feed stats.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: yvv on December 26, 2017, 01:08:11 pm
BTSBOTS was overly reliant on Poloniex for price feed stats.

This is not true. Btsbots price feed deviated from poloniex by a lot, because it was heavily weighted by Chinese exchanges with high volume.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: R on December 26, 2017, 01:20:21 pm
BTSBOTS was overly reliant on Poloniex for price feed stats.

This is not true. Btsbots price feed deviated from poloniex by a lot, because it was heavily weighted by Chinese exchanges with high volume.
When I last used it, it was either Poloniex or hardcoded prices - no other price feed sources. It was about this time that BTSBOTs completely ceased functioning correctly for me :(
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: fav on December 28, 2017, 02:35:35 pm
still don't know from OP which one's the real one? please make it clear, and add an image from the wallet view if you want votings
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: luther on December 28, 2017, 06:07:39 pm
BTSBOTS was overly reliant on Poloniex for price feed stats.

This is not true. Btsbots price feed deviated from poloniex by a lot, because it was heavily weighted by Chinese exchanges with high volume.
When I last used it, it was either Poloniex or hardcoded prices - no other price feed sources. It was about this time that BTSBOTs completely ceased functioning correctly for me :(

In any case, this bot will be designed to allow for custom feed weighting and offsets.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on December 28, 2017, 07:47:48 pm
Sounds like an interesting proposal, I'd like to see support for additional price feed sources - BTSBOTS was overly reliant on Poloniex for price feed stats.

Feel free to contribute to the document where we are collecting thoughts about different strategies: https://docs.google.com/document/d/1hOPhow3WBwQmeNkL0JrIufvfE2TvsORD1OK0Xg3JnVg/edit#
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on December 28, 2017, 07:56:06 pm
still don't know from OP which one's the real one? please make it clear, and add an image from the wallet view if you want votings

Sorry for the unclarity. The duplicate WP appeared after OP here.

The right WP to vote for is the one with "($660/d)" and currently more votes:

DEXBot - User Friendly BitShares Market Making Bots ($660/d)

not this one:
DEXBot - User Friendly BitShares Market Making Software
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: Brekyrself on January 09, 2018, 06:36:40 am
What's the reason people are not voting for this?
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: valtr on January 15, 2018, 06:52:20 am
What's the reason people are not voting for this?
I would like to know also. I like the idea of "official" bitshares bot.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: pc on January 15, 2018, 03:03:15 pm
1. IMO a good trading bot will be able to pay for itself. Which is also the reason why I wouldn't publish it if I created one. :-)
2. Offering a trading bot to the public is a bad idea, IMO. Such a bot makes it too easy for users to shoot themselves in the foot. They will blame it on us, even if was their own fault. See here for example: https://bitsharestalk.org/index.php/topic,23457.msg300913.html#msg300913
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: xeroc on January 15, 2018, 04:28:57 pm
2. Offering a trading bot to the public is a bad idea, IMO. Such a bot makes it too easy for users to shoot themselves in the foot. They will blame it on us, even if was their own fault. See here for example: https://bitsharestalk.org/index.php/topic,23457.msg300913.html#msg300913

Very good point, actually ...
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: yvv on January 15, 2018, 06:46:12 pm
They will blame us regardless, if public bot exists or not. Public bot is a very good idea. Btsbots proved it.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: abit on January 21, 2018, 11:18:51 pm
Just saw this.

Generally it's a good thing to see development on top of BitShares. Market making does add value to the ecosystem.

My main concern about this worker proposal, is that I don't know you nor anyone in your escrow team, there is no introduction, no product in the document. It would be better if you have something done first before starting the worker. Also better if the members of escrow team are better-known in the community, e.g. bitshares foundation, committee members, witnesses, proxies, devs, etc.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: intelliguy on January 22, 2018, 01:36:37 am
Quote
We ask for a daily budget of $660. Since the payment is in BTS, we ask for 6600 BTS per day, which should suffice even if the BTS price temporarily falls to $0.10

The proposal says it is for 6600 BTS / day.  At an average price of 0.50 that would be $3600/day conservatively.

The project says the term runs for a full year.

Let's say we're frozen at a BTS price of 0.50 USD,   that's $1.2 million dollars to create an open source trading bot.

They claim that unused funds will be returned.

I'd like to see this proposal re-voted in on a monthly basis  (and not yearly) so we can re-vote as it progresses. 

I don't think it should take $1.2 million dollars to fund a market creation bot.  That's quite high.

Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: Brekyrself on January 22, 2018, 04:34:59 am
https://docs.google.com/document/d/1z2rMlMiMufHdZEirc8x9lKuqSHvLAsVDOYK3xr4AfYE/edit#heading=h.jr7hdxt73vut

In the above document, it says "The received funds will be held in escrow by the Bitshares Foundation, and released at successful delivery of milestones." but in the original post in this thread it states "The received funds will be held in escrow in a 3 of 5 multisig account controlled by @MarkoPaasila, @cryptokong, @Permie, @Kimchiking, and @Cryptick The escrow will exchange the funds to bitUSD and return all excess BTS to the pool, as explained in http://www.bitshares.foundation/worker/ (Under Escrow Worker Model)."

@MarkoPaasila any clarification on this?  Perhaps this is a reason why it's not voted in along with the high 6600/bts a day being asked for even if it is returned to the system later on.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: Chris4210 on January 22, 2018, 09:19:44 pm
I voted for this project since I think we need more market maker activities on BitShares. I am especially interested to see market maker funds developed. If they are run by trusted people, people can loan their money to an mmf and earn a reward from the profits. We already see something similar with the crypto bridge coin.

Yes mmf are risiky, however, they can also give you a passive income.

I am looking forward to read more about the DEXbot progress.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on February 05, 2018, 04:09:40 pm
this worker seems to be active now, however it is 1 month after the pretended start date. will be good to know the team is still available and what are the steps to be taken now.

thanks.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: yvv on February 05, 2018, 08:33:12 pm
Devs are very active in telegram and promise alpha release soon.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on February 07, 2018, 02:59:30 pm
found updates in the bitshares weekly report: https://steemit.com/bitshares/@MarkoPaasila/dexbot-progress-report-1

source: https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-6th-february-2017
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on February 16, 2018, 08:49:58 am
Just saw this.

Generally it's a good thing to see development on top of BitShares. Market making does add value to the ecosystem.

My main concern about this worker proposal, is that I don't know you nor anyone in your escrow team, there is no introduction, no product in the document. It would be better if you have something done first before starting the worker. Also better if the members of escrow team are better-known in the community, e.g. bitshares foundation, committee members, witnesses, proxies, devs, etc.

Very valid concern. The funny thing is that none of us in the multisig know each other either other than from the chats and forums. It was me who chose the members, and I picked ones who were positive, objective and constructive, who seemed trustworthy, and who appeared to be strong BitShares proponents.

I also personally think misusing community trust to waste or steal funds would be a most idiotic thing to do, especially  using my real name. The WP could be unvoted in a day, and I would never get back the lost trust. Of course people still do stupid things, but I very much try not to. We can't do magic, but we will deliver. If we don't, it will be only right if the WP is unvoted.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on February 16, 2018, 09:00:56 am
Quote
We ask for a daily budget of $660. Since the payment is in BTS, we ask for 6600 BTS per day, which should suffice even if the BTS price temporarily falls to $0.10

The proposal says it is for 6600 BTS / day.  At an average price of 0.50 that would be $3600/day conservatively.

The project says the term runs for a full year.

Let's say we're frozen at a BTS price of 0.50 USD,   that's $1.2 million dollars to create an open source trading bot.

They claim that unused funds will be returned.

I'd like to see this proposal re-voted in on a monthly basis  (and not yearly) so we can re-vote as it progresses. 

I don't think it should take $1.2 million dollars to fund a market creation bot.  That's quite high.


The community will entrust us with 6600 BTS per day and to return all in excess of $660 per day. I have tried to make it very clear, but it's hard.

The project will run at most for a year, but our intention is to get it done in much less time. Also the WP can be terminated any day by the voters, which I really don't want to happen.

We will buy $660 from the market and return the rest. But yes, it's still some $220,000 if it lasts for the full 11 months that is left.

To begin with we can little more than give promises (claims). But our reputation is on line, and I wouldn't reck my own for a few thousand dollars. Soon we will be able to return some BTS to the pool, and we will post proof to the community.

It was suggested that we make a new proposal every month, but there's little point in it as the existing one can be unvoted any time. I also hate the politics of getting a WP approved. It's much more fun to do actual work and provide something of value  :)
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on February 16, 2018, 09:14:43 am
https://docs.google.com/document/d/1z2rMlMiMufHdZEirc8x9lKuqSHvLAsVDOYK3xr4AfYE/edit#heading=h.jr7hdxt73vut

In the above document, it says "The received funds will be held in escrow by the Bitshares Foundation, and released at successful delivery of milestones." but in the original post in this thread it states "The received funds will be held in escrow in a 3 of 5 multisig account controlled by @MarkoPaasila, @cryptokong, @Permie, @Kimchiking, and @Cryptick The escrow will exchange the funds to bitUSD and return all excess BTS to the pool, as explained in http://www.bitshares.foundation/worker/ (Under Escrow Worker Model)."

@MarkoPaasila any clarification on this?  Perhaps this is a reason why it's not voted in along with the high 6600/bts a day being asked for even if it is returned to the system later on.

The BitShares Foundation didn't have enough time, so we decided to proceed with an independent multisig. However Xeroc from the foundation has done due diligence on part of his proxy role before voting for the WP. The document you linked is the first draft of the WP.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on February 16, 2018, 09:17:52 am
UPDATE

Since Crypto Kong was removed from the 3/5 multisig account controlling the WP funds, we need a new member. We have agreed to propose the addition of @taconator as the fifth member. The change will take place after one week, in order to give the community time to voice any concerns.
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: Fox on February 16, 2018, 01:54:35 pm
I support the change to @taconator
-Fox
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: oxarbitrage on February 18, 2018, 02:28:12 pm
hey Marko, thanks for the updates. fully support @taconator in the escrow, i think one of the problems this worker had at first is that it was lacking some older and well known community members.
anyways, any help i can provide to synergy the active workers please let me know, need new api call from the core ? need to understand how the core works in a certain area ? etc. whatever ... just ask :)
Title: Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
Post by: MarkoPaasila on February 24, 2018, 02:31:15 pm
hey Marko, thanks for the updates. fully support @taconator in the escrow, i think one of the problems this worker had at first is that it was lacking some older and well known community members.
anyways, any help i can provide to synergy the active workers please let me know, need new api call from the core ? need to understand how the core works in a certain area ? etc. whatever ... just ask :)

Awesome! I will keep this in mind.