The DEX needs liquidity. Market makers who leave orders on the market provide liquidity. The contest is to incentivize market makers, consequentially attract traders and bring volume to the DEX.
Up to 60,000 BTS every day. Funding by the committee.
2019-10-25 0:00:00 UTCEnd date not yet decided.
BTS / [gateways].BTC
BTS / [gateways].USDT
(30,000 BTS each)
Gateways who have interest 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.
(The lists below will be updated from time to time as the contest progresses)
Qualified gateway asset(s):
SPARKDEX.BTC https://audit.bitspark.io
RUDEX.BTC https://audit.rudex.org/
GDEX.BTC https://www.gdex.io/noticeAssets
GDEX.USDT https://www.gdex.io/noticeAssets
Gateway assets that are replied in this thread buy not yet qualified:
XBTSX.X
Brief
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.
Details
For each market:
98% of total reward will go to BTS buyers and the rest will go to BTS sellers.
(Note: The committee will have the right to update the percentages as the contest progresses. Updates will be announced in advance.)
After each block is produced, a snapshot of the order book will be captured. Every order on the markets will be scored.
The orders whose size is smaller than 100 BTS will be ignored when calculating.
Get the lowest ask price (LAP) and highest bid price (HBP) of the remaining order book.
For bids (orders buying BTS), order_distance = (LAP - order_price) / LAP
For asks (orders selling BTS), order_distance = (order_price - HBP) / order_price
Group 1: orders whose order_distance is within [0%, 1%] will share up to 53% of total reward;
Group 2: orders whose order_distance is within (1%, 2%] will share up to 25% of total reward;
Group 3: orders whose order_distance is within (2%, 3%] will share up to 12% of total reward;
Group 4: orders whose order_distance is within (3%, 5%] will share up to 6% of total reward;
Group 5: orders whose order_distance is within (5%, 7%] will share up to 3% of total reward;
Group 6: orders whose order_distance is within (7%, 10%] will share up to 1% of total reward.
For each group:
group_score = group_reward_percent * min(1, total_order_size / 1,000,000 BTS).
For each order within a group:
order_weight = order_size * ( 1 + (group_upper_bound - order_distance) / (group_upper_bound - group_lower_bound) )
order_score = group_score * order_weight / sum(order_weight)
For each day:
for each market group, specifically, BTS / [gateways].BTC or BTS / [gateways].USDT,
daily_bids_reward = 30,000 BTS * bids_reward_percent * sum(bids_group_score) / total_blocks_produced_in_that_day
daily_asks_reward = 30,000 BTS * asks_reward_percent * sum(asks_group_score) / total_blocks_produced_in_that_day
For traders:
account_bids_reward = daily_bids_reward * sum(bids_order_score) / sum(bids_group_score)
account_asks_reward = daily_asks_reward * sum(asks_order_score) / sum(asks_group_score)
account_daily_reward = account_bids_reward + account_asks_reward
https://bitsharestalk.org/index.php?topic=29693.75 and following pages.
Can also check blockchain explorers or web wallets:
https://bts.ai/details/account/committee-trade
https://cryptofresh.com/u/committee-trade
https://wallet.bitshares.org/#/account/committee-trade
How to verify the reward data
1. run a patched https://github.com/abitmore/bitshares-core/tree/ugly-3.0
delayed node https://github.com/bitshares/bitshares-core/wiki/Delayed-Node
to generate snapshots (update "config.ini" as follows):
# Ugly snapshot start block number
ugly-snapshot-start-block = 42000000
# Ugly snapshot markets
ugly-snapshot-markets = [ ["1.3.0","1.3.861"], ["1.3.0","1.3.1570"], ["1.3.0","1.3.2241"],
["1.3.0","1.3.3926"], ["1.3.0","1.3.4157"], ["1.3.0","1.3.4198"], ["1.3.0","1.3.1042"],
["1.3.0","1.3.5144"], ["1.3.0","1.3.5286"] ]
# "id": "1.3.861", "symbol": "OPEN.BTC",
# "id": "1.3.1570", "symbol": "BRIDGE.BTC",
# "id": "1.3.2241", "symbol": "GDEX.BTC",
# "id": "1.3.3926", "symbol": "RUDEX.BTC",
# "id": "1.3.4157", "symbol": "XBTSX.BTC",
# "id": "1.3.4198", "symbol": "SPARKDEX.BTC",
#
# "id": "1.3.1042", "symbol": "OPEN.USDT",
# "id": "1.3.5144", "symbol": "BRIDGE.USDT",
# "id": "1.3.5286", "symbol": "GDEX.USDT",
p2p-endpoint = 127.0.0.1:0
seed-nodes = []
trusted-node = 127.0.0.1:8090
#...
plugins = delayed_node
BitShares News: https://news.bitshares.org/bitshares-trading-contest/
Steemit: https://steemit.com/bitshares/@abit/the-bitshares-dex-market-making-contest-will-live-soon
Twitter: href="https://twitter.com/BitSharesOrg/status/1187654212630351872
Telegram: https://t.me/bitshares_marketing
Wechat: please add GDEXxiaozhushou and send message "BTS" to join the group
Chinese post: https://bitsharestalk.org/index.php?topic=29665.0
Chinese post: https://dpos.club/t/topic/14
Relative Orders places two simultaneous
offers to both buy and sell at a spread and centre price configured by the user.
DEXBot requires a BitShares account, and encrypts the keys inside secure container software called Uptick.
DEXBot's relative orders strategy is configurable to account for market depth,
external CEX feed prices and kill/cancel orders.
Relative orders performs best when in a low volatility market where the RO DEXBot worker
satisfies demand to buy and sell at the current price, but are too impatient to wait
for a better offer. Relative orders connects with instant buyers and sellers and services
their requirement of quick trades.
In volatile times in a market speculators buying a dip or selling a rise are a different kind of
trader to those most likely to benefit a Relative Orders strategy.
Fast moving prices quickly result in a surplus of one asset vs another,
and RO strategies suffer less predictable trades.
Staggered orders is a long term strategy that aims to benefit from a mean reversion price chart. It places many orders at a wide range of prices incrementally staggered apart. Staggered orders aims to stay in the market for as long as possible, betting that trading and compounding order-sizes on the up/down noise volatility on top of a long term trend accumulates to a more successful strategy than buying & holding both assets.There are 5 modes available: Mountain, Neutral, Valley, Buy Slope and Sell Slope. For simplicity will cover the 2 most popular ones:
Mountain mode concentrates order size to the centre. Aiming to compound profits from low volatility noise around the centre price. If the price stays the same for extended periods with frequent up/down noise before moving, mountain mode aims to build larger order sizes at prices moving gradually away from the centre. If the price slowly trends in a particular direction, mountain mode can be more effective.
Valley mode is a strategy best suited to bootstrapping a new or "dead" marketplace. Valley mode puts more weight on buying very low and selling very high and so loves volatility. Plotted on a chart the order sizes at the extremes of the price range are much higher, falling to a valley of lower order sizes near the centre.
King Of The Hill aims to be the highest order on the books. If anyone at all buys or sells, KOTH aims to be involved. Traders looking to buy quickly but want to save a %, can instead use KOTH to slowly make the trade at the best possible price.
Applying this mode with KOTH, DEXBot keeps the sell and buy orders constantly on top of the order books.
This mode places a buy only order and keeps it on top of the buy order books.
This mode places a sell only order and keeps it on top of the sell order books.
Relative Orders settings consist of a series of 20 parameters which can be used to fine tune the behavior of your DEXBot; for an in depth explanation please join our Telegram channels listed at the bottom of this page.
PARAMETERSStaggered Orders settings consist of a series of 9 parameters needed to adjust the 5 strategies modes available; DEXBot can run multiple workers and each worker can run under a different strategy.
PARAMETERSOrder Size | |
Relative Order Size | |
Spread | |
Dynamic Spread | |
Market Depth | |
Dynamic Spread Factor | |
Center Price | |
Measure Center Price from Market Orders | |
Measurement Depth | |
Last Filled Order Price as New Center Price | |
Use External Source for Center Price | |
External Feed | |
Center Price Offset based on Balances | |
Manual Center Price Offset | |
Reset Orders on Partial Fill | |
Fill Treshold | |
Reset Orders on Center Price Change | |
Price Change | |
Custom Expiration | |
Order Expiration |
DEXBot is a FREE market making bot. It runs under Linux, OSX and Windows. Some users were also able to successfully compile it on Rasberry Pi. Just follow the link and download the version for your operating system.
GITHUBThe Cabinet © 2019 - FREE Market Making Bot by DEXBot Team