Show Posts
1
Stakeholder Proposals / [Worker Proposal] - DEXBot WP 2 Proposal Draft for Review/Feedback
« on: December 10, 2018, 09:46:39 am »
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
"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
