Author Topic: DEXBot - WP for User Friendly Market Making Software for Better Markets  (Read 3031 times)

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Offline luther

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #15 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.

Offline MarkoPaasila

Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #16 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#

Offline MarkoPaasila

Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #17 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

Offline Brekyrself

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #18 on: January 09, 2018, 06:36:40 am »
What's the reason people are not voting for this?

Offline valtr

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #19 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.

Offline pc

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #20 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
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Offline xeroc

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #21 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 ...
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Offline yvv

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #22 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.

Offline abit

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #23 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.
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Offline intelliguy

Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #24 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.

« Last Edit: January 22, 2018, 01:43:44 am by intelliguy »
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Offline Brekyrself

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #25 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 [member=26934]MarkoPaasila[/member], @cryptokong, [member=36434]Permie[/member], @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)."

[member=26934]MarkoPaasila[/member] 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.

Offline Chris4210

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #26 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.
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Offline oxarbitrage

Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #27 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.

Offline yvv

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Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #28 on: February 05, 2018, 08:33:12 pm »
Devs are very active in telegram and promise alpha release soon.

Offline oxarbitrage

Re: DEXBot - WP for User Friendly Market Making Software for Better Markets
« Reply #29 on: February 07, 2018, 02:59:30 pm »
found updates in the bitshares weekly report: https://steemit.com/bitshares/[member=26934]MarkoPaasila[/member]/dexbot-progress-report-1

source: https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-6th-february-2017