Author Topic: Market making contest, stage one  (Read 24593 times)

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Offline Bhuz

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Re: Market making contest
« Reply #90 on: October 31, 2019, 06:51:26 pm »
Reward data for 2019-10-30

(data generated with Ruby 2.2.2p95 (2015-04-13 revision 50295), script revision c318951)

Total 2241.00161 BTS

[...]

Snapshots: https://mmcontest.bitshares.org/snapshots20191030.tgz

Code: [Select]
$ tar xzf snapshots20191030.tgz
$ find 2019-10-30 -type f -exec sha256sum {} \; | sort -k 2 | sha256sum
483a7ecf9eb88f3851311ccf696a67347aed7e5369b7ac04eb0afea37db7c70c  -

Proposal for sending out rewards of 2019-10-30:

https://cryptofresh.com/tx/af75f8d5d087610230d8dc040257f2470bd76f82
https://cryptofresh.com/b/42306838

https://cryptofresh.com/p/1.10.51408
https://wallet.bitshares.org/#/account/committee-trade/ "proposed transactions" tab

@ruby 2.6.5p114 (2019-10-01 revision 67812)
Code: [Select]
$ ruby mm_rewards.rb 2019-10-30 1.10.51408

Date: 2019-10-30

Computing snapshots chucksum...
  483a7ecf9eb88f3851311ccf696a67347aed7e5369b7ac04eb0afea37db7c70c

Analyzing snapshots data and computing rewards...
  Total Rewards: 2241.00352 BTS

Let's verify the current proposal
  Getting proposal '1.10.51408' from the blockchain...
  Loading computed rewards data and mimic a proposal...
  Comparing proposals...
    Found 1 difference(s)!

    1st difference in position 0 (1st operation):
      found        {'amount': {'amount': 392866}}
      instead of   {'amount': {'amount': 393057}}

I will approve the proposal.

Offline abit

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Re: Market making contest
« Reply #91 on: October 31, 2019, 10:06:32 pm »
Reward data for 2019-10-30

(data generated with Ruby 2.2.2p95 (2015-04-13 revision 50295), script revision c318951)

Total 2241.00161 BTS

[...]

@ruby 2.6.5p114 (2019-10-01 revision 67812)

[...]

Analyzing snapshots data and computing rewards...
  Total Rewards: 2241.00352 BTS

    1st difference in position 0 (1st operation):
      found        {'amount': {'amount': 392866}}
      instead of   {'amount': {'amount': 393057}}

Found a bug in the "BigDecimal" module of Ruby 2.2.2 which caused the difference.

The difference is insignificant (<0.02 BTS) so I'm not going to compensate this time.

I will switch to Ruby 2.6.5 to generate reward data in the future.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline abit

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Re: Market making contest
« Reply #92 on: November 01, 2019, 01:35:28 am »
Reward data for 2019-10-31

(data generated with Ruby 2.6.5p114 (2019-10-01 revision 67812), script revision c318951)

Total 2864.16983 BTS

BTC
Code: [Select]
--seller-------------------------reward(BTS)-
1.2.125824                           13.70619
1.2.168607                            8.34797
1.2.424868                            3.66592
1.2.1602008                           2.20003
1.2.1691739                           2.11999
1.2.36449                             1.76431
1.2.1619104                           1.64759
1.2.33015                             1.32982
1.2.298                               1.20881
1.2.1591806                           1.08867
1.2.1621642                           0.63016
1.2.944809                            0.62269
1.2.1560396                           0.53905
1.2.885181                            0.27429
1.2.395549                            0.25598
1.2.799404                            0.15063
1.2.881146                            0.07171
1.2.126225                            0.06440
1.2.1687203                           0.05766
1.2.1643343                           0.05106
1.2.1616179                           0.04243
1.2.1094392                           0.03698
1.2.1565363                           0.02934
1.2.447722                            0.01041
1.2.1686641                           0.00872
1.2.973616                            0.00802
1.2.138771                            0.00798
1.2.1527702                           0.00696
1.2.1213071                           0.00637
1.2.1622544                           0.00539
1.2.823489                            0.00306
1.2.877590                            0.00271
Code: [Select]
--buyer--------------------------reward(BTS)-
1.2.168607                          767.22558
1.2.1691739                         302.64652
1.2.1213071                         195.62507
1.2.424868                          135.59409
1.2.944809                           42.60857
1.2.125824                           41.11643
1.2.1560396                          28.09349
1.2.395549                           12.28327
1.2.799404                            9.98221
1.2.885181                            8.51550
1.2.1619104                           8.33275
1.2.881146                            6.52165
1.2.1094392                           5.75092
1.2.33015                             5.46182
1.2.1616179                           5.03475
1.2.1687203                           4.08671
1.2.447722                            1.81856
1.2.710542                            0.62402
1.2.126225                            0.53709
1.2.979913                            0.41976
1.2.138771                            0.17469
1.2.1527702                           0.08796
1.2.955081                            0.08341
1.2.916316                            0.02490

USDT
Code: [Select]
--seller-------------------------reward(BTS)-
1.2.1691467                           2.18049
1.2.1674829                           1.27671
1.2.1692978                           1.18299
1.2.1656561                           0.98791
1.2.424868                            0.73299
1.2.33015                             0.68287
1.2.36449                             0.52489
1.2.1667487                           0.43751
1.2.395549                            0.25693
1.2.1616179                           0.11837
1.2.1108195                           0.10570
1.2.1596351                           0.09276
1.2.114363                            0.09187
1.2.877590                            0.04434
1.2.1328017                           0.01798
Code: [Select]
--buyer--------------------------reward(BTS)-
1.2.424868                          399.85553
1.2.1692978                         387.51786
1.2.888089                          244.30075
1.2.1674829                          87.87207
1.2.1108195                          69.44280
1.2.1656561                          12.20586
1.2.1667487                          11.05984
1.2.395549                           10.85308
1.2.1616179                           7.75194
1.2.1328017                           0.78709
1.2.1636320                           0.76326
1.2.877590                            0.41042

Snapshots: https://mmcontest.bitshares.org/snapshots20191031.tgz

Code: [Select]
$ tar xzf snapshots20191031.tgz
$ find 2019-10-31 -type f -exec sha256sum {} \; | sort -k 2 | sha256sum
4aab161df283ac8bef9632a2570c0b7d26ca97edd92e91f29d034443b505bca2  -

Proposal for sending out rewards of 2019-10-31:

https://cryptofresh.com/tx/fe3b6aad61429dd4a6410129bad5e9d11d548e2a
https://cryptofresh.com/b/42322913

https://cryptofresh.com/p/1.10.51467
https://wallet.bitshares.org/#/account/committee-trade/ "proposed transactions" tab
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline mike.wang

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Re: Market making contest
« Reply #93 on: November 01, 2019, 02:32:31 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)

Offline abit

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Re: Market making contest
« Reply #94 on: November 01, 2019, 10:11:28 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline Bhuz

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Re: Market making contest
« Reply #95 on: November 01, 2019, 11:27:37 am »
Reward data for 2019-10-31

(data generated with Ruby 2.6.5p114 (2019-10-01 revision 67812), script revision c318951)

Total 2864.16983 BTS

[...]

Snapshots: https://mmcontest.bitshares.org/snapshots20191031.tgz

Code: [Select]
$ tar xzf snapshots20191031.tgz
$ find 2019-10-31 -type f -exec sha256sum {} \; | sort -k 2 | sha256sum
4aab161df283ac8bef9632a2570c0b7d26ca97edd92e91f29d034443b505bca2  -

Proposal for sending out rewards of 2019-10-31:

https://cryptofresh.com/tx/fe3b6aad61429dd4a6410129bad5e9d11d548e2a
https://cryptofresh.com/b/42322913

https://cryptofresh.com/p/1.10.51467
https://wallet.bitshares.org/#/account/committee-trade/ "proposed transactions" tab

@ruby 2.6.5p114 (2019-10-01 revision 67812)
Code: [Select]
$ ruby mm_rewards.rb 2019-10-31 1.10.51467

Date: 2019-10-31

Computing snapshots chucksum...
  4aab161df283ac8bef9632a2570c0b7d26ca97edd92e91f29d034443b505bca2

Analyzing snapshots data and computing rewards...
  Total Rewards: 2864.16983 BTS

Let's verify the current proposal
  Getting proposal '1.10.51467' from the blockchain...
  Loading computed rewards data and mimic a proposal...
  Comparing proposals...
    No difference found!

I will approve the proposal.

Offline ikram101

Re: Market making contest
« Reply #96 on: November 02, 2019, 07:47:51 am »
Hi Everyone, we would like to introduce our market maker to the bitshares community. Autonio has released their Bitshares Market Maker that can be utilized to participate in the on-going BTS market making competetion.
Chinese version of the app will be released especially for the Chinese community.

For more info on Autonio BTS-MarketMaker, check out our latest medium post: https://link.medium.com/OmkcrZyqe1

Feel free to ping me for any relevant question.

Online sschiessl

Re: Market making contest
« Reply #97 on: November 02, 2019, 07:58:38 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.

Do you have something specific in mind for marketing this?

Offline mike.wang

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Re: Market making contest
« Reply #98 on: November 02, 2019, 08:11:15 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.

I believe higher reward is one of the way to attract market maker at this stage. worth a try.

Offline Crypto Kong

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Re: Market making contest
« Reply #99 on: November 02, 2019, 09:24:46 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.

I think a bit of both is needed, I have been trialing the contest and for the time being have decided my BTC is better put to use elsewhere as the payout isn't high enough, that being said there is no point increasing payout without people even knowing the contest exists. I think we also need to get cryptobridge and openledger on board with this.

Rewarding markets like gdex.btc-sparkdex.btc and gdex.btc-rudex.btc could also be beneficial as at the moment we are rewarding liquidity in isolated markets where often the majority of trades are filled by arb bots. If we can lower the spreads in these markets we effectively join the markets and they become less isolated. At the moment we are rewarding liquidity that doesn't really benefit us as orders are rarely filled. I would like to see spreads in these joining markets for exchanges taking part be less than 1%, this would increase arb bot activity and mean that prices across these markets would stay closer together and their liquidity more available. I would reward buy orders >0.995 and sell orders <1.005 in these markets.

It is also worth mentioning that as far as I can see on Twitter, GDEX is the only exchange to announce the MM contest. It would be good if participating exchanges agreed to tweet at least once a week about the contest.
« Last Edit: November 02, 2019, 09:49:57 am by Crypto Kong »

Offline mike.wang

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Re: Market making contest
« Reply #100 on: November 02, 2019, 11:58:27 am »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.

I think a bit of both is needed, I have been trialing the contest and for the time being have decided my BTC is better put to use elsewhere as the payout isn't high enough, that being said there is no point increasing payout without people even knowing the contest exists. I think we also need to get cryptobridge and openledger on board with this.

Rewarding markets like gdex.btc-sparkdex.btc and gdex.btc-rudex.btc could also be beneficial as at the moment we are rewarding liquidity in isolated markets where often the majority of trades are filled by arb bots. If we can lower the spreads in these markets we effectively join the markets and they become less isolated. At the moment we are rewarding liquidity that doesn't really benefit us as orders are rarely filled. I would like to see spreads in these joining markets for exchanges taking part be less than 1%, this would increase arb bot activity and mean that prices across these markets would stay closer together and their liquidity more available. I would reward buy orders >0.995 and sell orders <1.005 in these markets.

It is also worth mentioning that as far as I can see on Twitter, GDEX is the only exchange to announce the MM contest. It would be good if participating exchanges agreed to tweet at least once a week about the contest.

I agree most of what you say.

But, IMHO, a.btc-b.btc is kind of arb not MM, should not earn reward.
Liquidity increases when limit orders are placed on the BTS:BTC/USDT market. a.btc-b.btc encourage arb, limit orders are settled because of this, thus reduce liquidity.
« Last Edit: November 02, 2019, 12:01:03 pm by mike.wang »

Offline abit

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Re: Market making contest
« Reply #101 on: November 02, 2019, 12:09:31 pm »
Reward data for 2019-11-01

(data generated with Ruby 2.6.5p114 (2019-10-01 revision 67812), script revision c318951)

Total 8029.04303 BTS

BTC
Code: [Select]
--seller-------------------------reward(BTS)-
1.2.125824                           13.36142
1.2.168607                           11.81508
1.2.1691739                           4.54264
1.2.424868                            2.92999
1.2.298                               2.17770
1.2.36449                             1.83928
1.2.33015                             1.47417
1.2.1619104                           1.00001
1.2.1693506                           0.65625
1.2.395549                            0.54823
1.2.1560396                           0.53617
1.2.799404                            0.25843
1.2.885181                            0.24562
1.2.881146                            0.09511
1.2.126225                            0.08874
1.2.403666                            0.08336
1.2.1687203                           0.06814
1.2.1616179                           0.06136
1.2.1643343                           0.06034
1.2.1094392                           0.04070
1.2.1213071                           0.02628
1.2.1686641                           0.01097
1.2.1527702                           0.00987
1.2.823489                            0.00528
1.2.1622544                           0.00464
1.2.877590                            0.00151
1.2.973616                            0.00117
1.2.979913                            0.00023
1.2.114226                            0.00007
Code: [Select]
--buyer--------------------------reward(BTS)-
1.2.1693506                        1581.98043
1.2.168607                          649.25761
1.2.1691739                         611.10984
1.2.424868                          205.33753
1.2.1213071                         156.46514
1.2.125824                          111.46267
1.2.944809                           78.99546
1.2.1560396                          29.12803
1.2.395549                           25.82953
1.2.881146                           14.01670
1.2.885181                           11.57981
1.2.799404                            6.20868
1.2.1094392                           5.31321
1.2.1616179                           5.15973
1.2.1687203                           3.89009
1.2.403666                            2.42169
1.2.1619104                           1.06116
1.2.126225                            0.89848
1.2.710542                            0.80249
1.2.501058                            0.43690
1.2.979913                            0.29269
1.2.1527702                           0.06912
1.2.955081                            0.05851

USDT
Code: [Select]
--seller-------------------------reward(BTS)-
1.2.424868                            5.47039
1.2.888089                            3.56102
1.2.1692978                           3.26828
1.2.1674829                           1.15460
1.2.1693506                           0.98567
1.2.1108195                           0.80872
1.2.33015                             0.77116
1.2.1656561                           0.58989
1.2.36449                             0.49407
1.2.395549                            0.44813
1.2.1596351                           0.36302
1.2.1667487                           0.27337
1.2.114363                            0.13663
1.2.1616179                           0.09614
1.2.877590                            0.03013
1.2.670147                            0.02323
1.2.1328017                           0.00775
Code: [Select]
--buyer--------------------------reward(BTS)-
1.2.1693415                        2735.99085
1.2.1692978                         642.55356
1.2.424868                          242.46064
1.2.670147                          237.77044
1.2.888089                          153.81977
1.2.114363                          145.08775
1.2.1693506                         106.22008
1.2.1674829                          95.45314
1.2.1108195                          33.14502
1.2.395549                           29.48322
1.2.1656561                          17.95451
1.2.1616179                          12.50170
1.2.1667487                          12.02347
1.2.1328017                           0.99111
1.2.1636320                           0.72360
1.2.533402                            0.36796
1.2.877590                            0.29575

Snapshots: https://mmcontest.bitshares.org/snapshots20191101.tgz

Code: [Select]
$ tar xzf snapshots20191101.tgz
$ find 2019-11-01 -type f -exec sha256sum {} \; | sort -k 2 | sha256sum
feebc04f8389d49e522330ae6fd47b0597717219c0257bb598d6167bccfe80bb  -

Proposal for sending out rewards of 2019-11-01:

https://cryptofresh.com/tx/f5d019c4d12b100b2408de79eec0a1087a9f9174
https://cryptofresh.com/b/42364197

https://cryptofresh.com/p/1.10.51523
https://wallet.bitshares.org/#/account/committee-trade/ "proposed transactions" tab
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline Bhuz

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Re: Market making contest
« Reply #102 on: November 02, 2019, 12:25:21 pm »
Reward data for 2019-11-01

(data generated with Ruby 2.6.5p114 (2019-10-01 revision 67812), script revision c318951)

Total 8029.04303 BTS

[...]

Snapshots: https://mmcontest.bitshares.org/snapshots20191101.tgz

Code: [Select]
$ tar xzf snapshots20191101.tgz
$ find 2019-11-01 -type f -exec sha256sum {} \; | sort -k 2 | sha256sum
feebc04f8389d49e522330ae6fd47b0597717219c0257bb598d6167bccfe80bb  -

Proposal for sending out rewards of 2019-11-01:

https://cryptofresh.com/tx/f5d019c4d12b100b2408de79eec0a1087a9f9174
https://cryptofresh.com/b/42364197

https://cryptofresh.com/p/1.10.51523
https://wallet.bitshares.org/#/account/committee-trade/ "proposed transactions" tab

@ruby 2.6.5p114 (2019-10-01 revision 67812)
Code: [Select]
$ ruby mm_rewards.rb 2019-11-01 1.10.51523

Date: 2019-11-01

Computing snapshots chucksum...
  feebc04f8389d49e522330ae6fd47b0597717219c0257bb598d6167bccfe80bb

Analyzing snapshots data and computing rewards...
  Total Rewards: 8029.04303 BTS

Let's verify the current proposal
  Getting proposal '1.10.51523' from the blockchain...
  Loading computed rewards data and mimic a proposal...
  Comparing proposals...
    No difference found!

I will approve the proposal.

Offline Crypto Kong

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Re: Market making contest
« Reply #103 on: November 02, 2019, 12:28:09 pm »
The daily rewards in these days are ~2500BTS, too low ...
How about double it by change the following?
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS)to
Code: [Select]
group_score = group_reward_percent * min(1, total_order_size / 500,000 BTS)
IMHO what we need is better/more promotion. We need more participants. Changing parameters only is not that effective.

I think a bit of both is needed, I have been trialing the contest and for the time being have decided my BTC is better put to use elsewhere as the payout isn't high enough, that being said there is no point increasing payout without people even knowing the contest exists. I think we also need to get cryptobridge and openledger on board with this.

Rewarding markets like gdex.btc-sparkdex.btc and gdex.btc-rudex.btc could also be beneficial as at the moment we are rewarding liquidity in isolated markets where often the majority of trades are filled by arb bots. If we can lower the spreads in these markets we effectively join the markets and they become less isolated. At the moment we are rewarding liquidity that doesn't really benefit us as orders are rarely filled. I would like to see spreads in these joining markets for exchanges taking part be less than 1%, this would increase arb bot activity and mean that prices across these markets would stay closer together and their liquidity more available. I would reward buy orders >0.995 and sell orders <1.005 in these markets.

It is also worth mentioning that as far as I can see on Twitter, GDEX is the only exchange to announce the MM contest. It would be good if participating exchanges agreed to tweet at least once a week about the contest.

I agree most of what you say.

But, IMHO, a.btc-b.btc is kind of arb not MM, should not earn reward.
Liquidity increases when limit orders are placed on the BTS:BTC/USDT market. a.btc-b.btc encourage arb, limit orders are settled because of this, thus reduce liquidity.

Yes, i do agree but my point is that we are paying for liquidity on exchanges such as rudex and sparkdex which are somewhat isolated. Without a.btc-b.btc market having tight spread the liquidity on these exchanges doesnt contribute as much as there are less profitable arb paths to their liquidity. So I think rewarding people for placing orders in a.btc-b.btc could help to make these exchanges less isolated.

The point of rewarding buy orders is to absorb dumps so that price doesnt crash easily, If we have orders placed in markets where there are no profitable arb paths then they dont contribute much to absorbing dumps as their orders wont get filled.
« Last Edit: November 02, 2019, 12:34:42 pm by Crypto Kong »

Offline bitcrab

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Re: Market making contest
« Reply #104 on: November 03, 2019, 04:14:08 am »
welcome to trade using GDEX.BTC and GDEX.USDT, the market fee is as low as 0.1% and 20% sharing.
Email´╝Ü[email protected]