Author Topic: Ordering Mining(main thread)  (Read 83 times)

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Online bitcrab

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Ordering Mining(main thread)
« on: Today at 08:55:23 am »
Ordering Mining

The Ordering Mining is the updated version of the previous Market Making Contest(https://bitsharestalk.org/index.php?topic=31515.0), the contest is not for traders to compete who can get the most profit by trading, but to compete who provide the most liquidity/market depth for the markets. The contest is to incentivize market makers, and consequently encourage the liquidity and trading volume of the DEX, We can also call it “Liquidity Mining”, which is a more popular words recently.

Details of the poll voting on this activity can be found here:https://bitsharestalk.org/index.php?topic=32382.0

The detailed design of the activity can be found here: https://github.com/bitshares/bsips/blob/master/bsip-0087.md,  here is a simple introduction:

##Markets and Gateways##
The Ordering Mining relevant Markets are divided into 3 pair groups:

Pair GroupA:
BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS

Pair GroupB:
BTS/bitAssets

Pair GroupC:
[gateways].BTC / bitAssets
[gateways].ETH / bitAssets
[gateways].EOS / bitAssets
[gateways].USDT / bitAssets

Here the bitAssets include bitCNY, bitUSD, bitEUR and bitRUBLE.

Gateways who have interests in participating in the contest please reply to this thread.
Every gateway needs to prove that its gateway assets are fully backed by real assets.

As RuDEX and XBTSX announced that they will not participate the Ordering Mining at beginning, at this moment the qualified Gateways include only GDEX.

## qualified gateway asset(s) and corresponding audit page(s):##
GDEX.BTC https://www.gdex.io/noticeAssets
GDEX.USDT https://www.gdex.io/noticeAssets
GDEX.ETH https://www.gdex.io/noticeAssets (Added on 2019-12-17)
GDEX.EOS https://www.gdex.io/noticeAssets (Added on 2020-01-04)

##Rewards and Rules##
Each pair will get reward based on the contributed market fees to system.
Pairs in the same group will compete each other to share up to 20K BTS every day.
Market makers place orders onto the order book.
The bigger the orders and
the closer the orders to the opposite side of the order book and
the longer the orders lasting on the order book,
the more rewards the owner of the orders will earn.
detailed rules please check here: https://github.com/bitshares/bsips/blob/master/bsip-0087.md

## Start Date
2020-07-12 00:00:00 UTC
End date not yet decided.

The Committee will manage the operation of this activity.
Email:bitcrab@qq.com

Offline EuropaSH

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Re: Ordering Mining(main thread)
« Reply #1 on: Today at 11:52:57 am »
« Reply #45 on: May 28, 2020, 11:13:20 am »
https://bitsharestalk.org/index.php?topic=32373.msg342392#msg342392

ABOUT MM: We said that we would not take part in the next MM contest. We want to look at the example of Gdex how new competition will work. And maybe we'll take part.
XBTS DEX EXCHANGE FOR TRADERS AND GAMERS https://xbts.io

Offline Thul3

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Re: Ordering Mining(main thread)
« Reply #2 on: Today at 12:28:31 pm »
First BAIP has no threshold.Its being used for manipulation.
Second BAIP6 even when being legit have clearly stated it has no rights to committee funds.
You have no right to touch committee funds without getting it approved with a normal worker.

Every committee member who allows committee funds to be used in a manipulative way won't get my support and i'm sure will lose support of many other people.
It was made clear in BAIP6 that the threshold is a joke,being manipulated and that BAIP has no power to claim any funds but can only be used for changing parameters of bitassets.
MM needs funding which is totaly out of scope of a BAIP even when the BAIP threshold would be legit.

Current BAIP threshold is at 350 million votes.Something like that can't be taken serious.

It's nothing else as a indirect money transfer to bitcrab.
Bitcrab doesn't pay a single cent for that shit and receives 80% of the collected fee's.GDEX is currently even not the biggest gateway with most volume.
Bitassets are irrelevant since they are still under thresholds value.
So all spending will mainly go directly to GDEX.

Clearly a conflict of interest trying to selfbenefit from reserve pool / committee funds .


BAIP has by defenition NO POWER to claim any funds to be used only adjusting parameters for bitassets

If committee uses funds for BAIP6 it will also need to fund any other worker which is above BAIP threshold on that logic.
« Last Edit: Today at 01:23:43 pm by Thul3 »

Online bitcrab

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Re: Ordering Mining(main thread)
« Reply #3 on: Today at 02:38:51 pm »
First BAIP has no threshold.Its being used for manipulation.
Second BAIP6 even when being legit have clearly stated it has no rights to committee funds.
You have no right to touch committee funds without getting it approved with a normal worker.

Every committee member who allows committee funds to be used in a manipulative way won't get my support and i'm sure will lose support of many other people.
It was made clear in BAIP6 that the threshold is a joke,being manipulated and that BAIP has no power to claim any funds but can only be used for changing parameters of bitassets.
MM needs funding which is totaly out of scope of a BAIP even when the BAIP threshold would be legit.

Current BAIP threshold is at 350 million votes.Something like that can't be taken serious.

It's nothing else as a indirect money transfer to bitcrab.
Bitcrab doesn't pay a single cent for that shit and receives 80% of the collected fee's.GDEX is currently even not the biggest gateway with most volume.
Bitassets are irrelevant since they are still under thresholds value.
So all spending will mainly go directly to GDEX.

Clearly a conflict of interest trying to selfbenefit from reserve pool / committee funds .


BAIP has by defenition NO POWER to claim any funds to be used only adjusting parameters for bitassets

If committee uses funds for BAIP6 it will also need to fund any other worker which is above BAIP threshold on that logic.

worker proposal fit the case that need automatically transfer funds from reserve pool to applicant's account, not the usage of committee managed funds.

committee has the power to manage  committee-controlled parameters and use committee managed funds, based on necessary voting.

and this Ordering Mining is open to all gateways.
Email:bitcrab@qq.com