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Topics - kimchi-king

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The Cabinet who manage DEXBot are gathering community feedback for continuing DEXBot next year, for DEXBot WP 2

"It has been an exciting year for the DexBot. We started by chatting about ideas, put together a proposal, created a market making trading bot and launched several strategies. From nothing, we have an  MVP (Minimum Viable Product) up, working and under budget.

There were many highs and lows along the way, people who have never met came together, decided on a plan and executed it and did so even with a delayed start. After putting the worker proposal out to the community, it took a plunge in the BTS price, before voters passed the proposal. Here was something, we could do to help address liquidity as a community. An instant high followed that low, this is going to happen! Then the work started. Marko put together the team that started to formulated code. There were many questions, ideas, and strategies. We got the beta version launched, and then came the long line of bug fixes. There were lows along the way. At times the worker proposal was temporarily defunded, causing a minor panic. There was the time when one new strategy backfired and did not work as intended. Yep, Marko lost not an insignificant amount of his own money. These are the dangers and perils of working on software that deals with real money.

It is so easy to say, “We did it,” and forget all the perils along the journey. We needed to keep the peace and work together. We needed to compromise. We needed to decide on what language to use what software to use and what programmers to use. We needed to avoid bad partnerships and form good ones.  We needed to tell some people who eagerly wanted to contribute, no -because their help was hurting at the time. We needed to prioritize decisions and create strategies that added liquidity to the market and did not remove it. Building a communal trading bot, that everyone can use, and uses strategies that help the market and does not hinder it, is not as easy as some may think. From a technical side, there were countless hours of writing code, making sure strategies work as intended and trying to hunt down why someone somewhere was getting an error code. There was keeping peace and on a topic in Telegram Chatrooms. There were explaining strategies and markets to new traders. There was making money and losing money while trading. But through all of this, we brought forth the DEXbot, a market-making bot that allows ordinary traders and investors to make markets in a helpful and beneficial way adding liquidity to the BitShares blockchain.

Along the way, on this journey, some exciting things happened. The Dexbot Cabinet came together as a real team to support Marko who did the heavy work managing the project. Because of the DEXbot, Cryptick proposed an Android Custom Wallet Proposal to the community. While that worker did not pass, now there is now the whole host of interesting mobile proposals fulfilling the vision. DEXbot is one of the few remaining independent workers outside of the BBF foundation. This is beneficial for all, as it allows the DEXbot, complete independence to promote fair trading, and helps to fully realize the decentralized vision of blockchain projects.

The DEXbot is not and does not need to be the most visible project on BitShares. We don’t need everyone involved but want their vote of support. Ultimately, most people benefit from the Dexbot and do not even realize it. When trading, people take the narrower spreads for granted. The Dexbot works day and night, helping money move back and forth through the BitShares Ecosystem. This is done by the family of traders running the DEXbot and other liquidity providing software.

This software increases the number of transactions, increases transaction fees and moves a great deal of CryptoBridge, OpenLedger, GDEX, RUDEX assets, while paying commissions. Everyone benefits.

It has been a great start, but there is still more to do. We have a working product, but there is more that we can add. Much of the year was spent building functionality, now we need more efforts towards customer support, users guides, documentation and adding new strategies. Marko has been leading this project part-time, but Permie is now ready to step in take over project management. He feels this is the great tool that can be utilized by strategic partners to make trading better on the Dex. We realize markets are not yet as liquid as everyone would like, and we feel more strategies can help facilitate this. Cross-exchange arbitrage could help BTS prices stay in line with other markets and enable customers to get better fills.

We feel the full potential of the DEXbot project is just starting, and to abandon it now, would be like throwing a young child out onto the streets before he is grown up. While we are working on a backup minimum maintenance plan, we are asking for continued community support. We understand, that Crypto markets have taken a dive, and are very aware of what is going on in the markets, like the recent global bitUSD settlement. That said, as one worker comes to a conclusion, we are putting forth another in order to take this project forward. We know that good project development takes time, and what we build now, will be there in the future to help keep Bitshares in a leading position among the Decentralised Exchanges."  -Crytpick1 (Cabinet Member)

@cryptick1
@cryptokong123
@kimchiking
@Don_Gabriel
@markopaasila

https://docs.google.com/document/d/1EM7Ld9Je90Fiotqwd9wquHPz4MPbJls96g8tgQVJPqY

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Stakeholder Proposals / [Proxy] kimchi-king - Journal
« on: July 25, 2018, 02:54:47 pm »
I will keep this thread updated to reflect all my voting decisions.

If you wish to have me as your proxy then please enter kimchi-king on the "Voting" page found in your wallet.



Don't forget to save your changes.

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Hi everyone, my name is Kevin Messerly, but people call me Kimchi-King and I'm a BitShares addict.

Damn it feels good to get that off my chest.

It all started a few years ago when I came across BitShares on coinmarketcap.com. I did some digging and discovered that this was something I could dip my toes in, but it wasn't until early 2017 that I decided to become more involved in the community. Since then, I have spent countless hours answering questions, giving advice, providing support to numerous BitShares based projects, acting as admin in many rooms on Telegram and Discord, and doing my best to promote BitShares on social media. Why? Because I understand that without an active community BitShares will never reach its true potential.

I've finally decided to humbly request for your trust and support so if you're willing I'd be honored to be your proxy.

I promise to remain objective to the principles that BitShares stands for, to keep my supporters informed of my voting choices, and to continue to be an active member of this outstanding community. BitShares has the power to be the worlds most powerful financial tool, but being decentralized has its shortcomings and I will to do my part to bring BitShares to its much deserved place in the crypto space.

If you're willing to add me as your proxy then please use this BitShares address kimchi-king.

For full disclosure, I'm a part of the BitShares cabinet which is made up of the same team behind the DEXBot project. We plan to develop, present, and support numerous worker proposals designed to benefit the BitShares community and ecosystem. We will do this by acting as middle management between companies looking to develop product/services for BitShares and the major stakeholders. This will help to increase the usage of the Reserve Pool funds for the sole purpose of benefiting all BitShares holders.

We understand that not many people or companies have the time to invest in establishing a strong reputation amongst the community to ensure their proposals gain enough traction to get their worker proposals approved. In order to assist those interested in providing/developing products/services for BitShares the Cabinet members will be responsible for conducting due diligence, market research, worker proposal development, product management, development oversight, worker proposal marketing, escrow services, and the list goes on.

If you have any questions please don't hesitate to contact me on Telegram (@kimchiking), Discord (kimchi-king#0714), Twitter (@kevinmesserly), or via email at [email protected]

I've created this dedicated Telegram channel to inform the community and my supporters of the decisions I've made, wish to make, and refuse to make with regards to my voting power. Here's the link to the channel. https://t.me/kimchiclub

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General Discussion / DEXbot Progress Report for 13 April 2018
« on: April 14, 2018, 05:27:50 pm »
DISCLAIMER: DEXBOT IS NOT A RISK-FREE ENDEAVOR AND ANY TRADING BOT CARRIES SIGNIFICANT RISK. THE DEXBOT TEAM DO NOT GIVE TRADING ADVICE AND RELY ON USERS TO DO THEIR OWN RESEARCH AND EVALUATE THE RISKS BEFORE PARTICIPATING IN THE PROJECT OR USING ANY PRODUCT FUNDED, CREATED, OR MENTIONED BY THE DEXBOT TEAM.

The DEBOT Cabinet: @Permie, @MarkoPaasila, @Kimchiking, Cryptick, Taconator

DEXBOT is an approved BitShares Worker Proposal receiving funding equivalent to $667 per day to build an open-source and simple to use trading bot to help provide liquidity to the DEX.

Liquidity is the life-blood of an exchange and we believe that a widely distributed trading bot will help crowd-source the provision of liquidity.

The DEXBOT team is looking for new developer talent to continue colloborating on this open-source project.

Join the conversation with Telegram in our “DEXBot” channel: https://t.me/DEXBOTbts

Visit www.dexbot.info

Here's our progress since the last report;

DEXBOT IS NOW AVAILABLE FOR ALL TO INSTALL ON LINUX!

There are still bugs, and DEXBOT is by no means a finished product but it is ready for user testing. If you're handy with linux you should be able to get it running to play around with.
“Relative orders” strategy only right now. “Staggered Orders” will be added at a later date. Relative orders is a difficult strategy to implement without a bot so it is the priority. DEXBOT can place both a buy and a sell order for a defined % above/below the current market price. Just as “btsbots” did previously, but with a more “user friendly” (hopefully!) interface.

- Windows OS DEXBOT is upcoming for release in the next few weeks. The development company “Codaone” (the lead dev-team) are close to a Windows release.

- The DEXBOT cabinet have decided to change from paying per milestone, and instead begin paying per feature; payment at successful delivery of a new release with one or more new features and critical bugs fixed. Codaone are happy with this arrangement.

- The DEXBOT channel: https://t.me/DEXBOTbts has 10-15 active volunteers playing with DEXBOT installation on linux (and one guy braving the buggy and incomplete Windows installation with little success ha!).

- Bug reports are being submitted to Github. Bug-fixes and new releases are coming regularly as the Codaone team respond to issues found by these volunteers.

- If you want to join in and be one of the very first people to run DEXBOT on a “relative orders” strategy come and introduce yourself and get help setting yourself up. The more people testing the software the faster DEXBOT can reach a stable release.
https://github.com/codaone/DEXbot

- DEXBOT is open-source and the team are already aware of at least one user forking the software to create a cross-exchange arbitrage bot; allowing the prices on the DEX to better mirror the price action on Binance and other Centralized Exchanges (CEX's). We want to see more people do the same; fork DEXBOT and add to the value of the BTS DEX. The Reserve Pool's funding of DEXBOT creates a framework/foundation product that demonstrates to the market what the DEX is capable of. The free market of individuals will (and is right now!) swarm around the core-dexbot development and spawn new ideas from it.

- Public polls will be taken in the near future, perhaps on a 2-weekly basis, to get input from the community of DEXBOT users on which features/updates/bug fixes are deemed most important. By taking input from the people who actually use DEXBOT the DEXBOT-cabinet aim to direct development progress as efficiently as possible.

- JT, the CryptoBridge Community Manager, and the CryptoBridge Team have been invited into public discussions to so as to better inform them of DEXBOT progress and demonstrate that DEXBOT can be forked by them to better suit their customers. For example CryptoBridge could work to remove the “bridge.” prefix from assets traded on their exchange so as not to confuse their customers. This is all in aid of increasing the liquidity available on the DEX. Any exchange with a BTS order-book is welcome to join the discussion and approach the DEXBOT Cabinet for information.

- Most development effort recently has been spent squashing bugs and making the bot behave as a user would naturally expect. Closed issues can be seen here: https://github.com/codaone/DEXbot/issues?q=is%3Aissue+is%3Aclosed

- Individual bots within a BTS account using DEXBOT are called “workers”. Multiple “workers” (up to 10) are now supported in the GUI. This was included in Milestone 3. Commits to this release can be seen here: https://github.com/codaone/DEXbot/commits/0.1.5

Money spent:
- Development Work for Milestone 3 $5880 to Codaone

- Project Management during Milestone 2 – 15hours - $1050 – Codaone

- Project Management during Milestone 2 – 15hours - $450 – Markopaasila

- UX Design Work during Milestone 3 - $140 – Codaone (Not implemented yet as not high priority)

- For a total and complete view of transactions please view the BTS account
“dexbot-worker-escrow”

What's next
- The DEXBOT cabinet aim to provide a fully functioning&stable DEXBOT, with bug fixes and updates via the Codaone team.

- Once a suitably stable bot has been built, the cabinet aim to approach BTS-powered exchanges such as OpenLedger, CryptoBridge, Rudex etc and introduce them to DEXBOT and it's uses to increase liquidity on their exchanges.

- Create content for the www.dexbot.info website such as videos, instructional guides, performance reporting.
Continue to increase and maximise the liquidity brought to the DEX via DEXBOT.

How & What you can do to contribute:
- If you are a dev or know one, now is the time to join! We will pay bounties for project-work-completed. This is likely to be paid in arrears. Join the community and get to work and if you produce something of value the team want to pay you for it. One must understand that the DEXBOT team has budget limitations and a defined scope of work but that we want to incentivize BTS-related development work relevant to DEXBOT as far as possible.

- Training to work with the BitShares codebase will also give you the opportunity to build a reputation for yourself and set yourself in good stead to get involved in future projects too.

- If you have an opinion about market making strategies please contribute to the definitions of strategies

- Any other talents, like graphics, data analysis, scripting, content creation, animations; join the chat and figure out how to get your efforts recognized. We are willing to pay for every valuable contribution.

- Join the Market Makers Community and learn how to do it profitably. MARKET MAKING IS A RISK-ON ACTIVITY. Nothing is guaranteed and one trades at their own risk.

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General Discussion / DEXBOT Progress Report for 24th February 2018
« on: February 24, 2018, 05:17:31 pm »
Team Members: @Permie, @MarkoPaasila, @Kimchiking, Cryptik, Taconator

DISCLAIMER: DEXBOT IS NOT A RISK-FREE ENDEAVOUR AND ANY TRADING BOT CARRIES SIGNIFICANT RISK. THE DEXBOT TEAM DO NOT GIVE TRADING ADVICE AND RELY ON USERS TO DO THEIR OWN RESEARCH AND EVALUATE THE RISKS BEFORE PARTICIPATING IN THE PROJECT OR USING ANY PRODUCT FUNDED, CREATED, OR MENTIONED BY THE DEXBOT TEAM.

DEXBOT is an approved BitShares Worker Proposal receiving funding equivalent to $667 per day to build an open-source and simple to use trading bot to help provide liquidity to the DEX.

Liquidity is the life-blood of an exchange and we believe that a widely distributed trading bot will help crowd-source the provision of liquidity.

The DEXBOT team is looking for new developer talent.

Join the conversation with Telegram in our “DEXBot Project Chat” channel: https://t.me/BTSLiquidityBotWorkerProposal

Here's our progress so far:

• The initial alpha-version of the bot with a Graphical User Interface has been completed which includes a strategy to provide a sell and buy wall at defined spread and price.

• Ian Haywood has contributed with an interactive cli mode for setting up a similar strategy, but which attempts to follow market price dynamically.

• Gabriel has worked on a website for providing information and guides. http://dexbot.tk

• A logo has been designed.

• The github repo is open for contributions, issues and discussions.

• The escrow account multisig parties have agreed on how to agree on payments and cultivate participation and collaboration for maximal value.

• Although the WP was approved slowly, we are almost on track with the original roadmap.

• It turned out to be not-so-straightforward to compile the software into a Windows package. We chose not to let this stop progress on features, and it will be solved at a later point.

• A line of communication was established between the DEXBot project and Autonio to avoid duplication of efforts and allow for possible synergies.

• A market makers community is being born in anticipation of a bot to boost efforts. People are learning the basics there and already providing additional liquidity.

• Taconator was chosen to be included in the multisig to replace cryptokong. The DEXBOT team gave 1 weeks notice for any BTS community members to voice complaint. This notice period expired yesterday and Taconator will be added to the multi-sig WP account today. The required threshold to approve transactions will be increased from 3 of 4 to 4 of 5.

Money spent:

• Nothing. One weeks payment worth of BitUSD ($4620) bought off the market. The development team Codaone who have accepted (a portion of) the WP contract understand that payment will be approved once they reach pre-defined milestones.

What's next:

• Bugfixes

• The "Relative Orders" strategy will be able to follow market price dynamically, which will make it suitable for all markets. This will include one or more possible methods.

• Features will be added which help keep the strategy balanced, so the account doesn't run out of the other asset.

• The github repo will be populated with feature requests to be prioritized by the escrow-multisig participants.

• Attempts to make an executable file to easily install the bot without comand-line knowledge will be continued.
Developers with experience packaging .exe files are needed! Apply within; https://t.me/BTSLiquidityBotWorkerProposal

• The GUI and CLI interfaces will be worked on to support the same features and strategies.

• Add the possibility of editing a bot after creation.

• Continued efforts to streamline collaboration, increase ROI, include new contributors.

• Improve the website with documentation.

How & What you can do to contribute:

• If you are a dev or know one, now is the time to join! We will pay bounties for pre-defined milestones. Training to work with the BitShares codebase will also give you the opportunity to build a reputation for yourself and set yourself to get involved in future projects too.

• If you have an opinion about market making strategies please contribute to the definitions of strategies.

• Any other talents, like graphics, data analysis, scripting, content creation, animations; join the chat and figure out how to get your efforts recognized. We are willing to pay for every valuable contribution.

• Join the Market Makers Community and learn how to do it profitably.

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