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« on: March 22, 2015, 03:09:49 pm »
Community,
As many of you know Methodx and myself were one of the first business/technical partnerships. While Methodx's work speaks for itself I played a lesser role of keeping the lights on, handling payments, etc. Sadly Methodx has decided to move on from BitShares which means the delegate falls to me as the remaining business partner. In the interest of transparency and full disclosure this post will describe my new plans for the funds. I welcome your feedback. If the delegate gets voted out that's fine too however I think that would be a wasted opportunity.
During the Mumble of Friday, March 19th, 2015 there was a brief conversation with BM about market making bots, their importance in bootstrapping the ecosystem (liquidity), and where they are needed most. To this end I will be allocating 100% of marketing.methodx income to liquidity bots. While the trading strategy and details won't be public the funds going in to, and out of, the bot from this income source will be (link coming).
The mechanics of this are quite simple. There are already scripts in place that pay 95% of income to MethodX for marketing activities and 5% to myself for operations. The script will be updated to transfer 100% of income to the various marketing market making bots.
In order of priority:
1) Internal bot on the bitUSD/BTS pair.
2) Yunbi bot on the bitUSD/BTC pair
3) metaexchange bot on the <various>/BTC pairs.
Thank you. I look forward to your feedback.
James aka Riverhead.
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