Testing Dexbot to increase Liquidity of Smoke

5 months ago

What's up guys! Hope everyone's having a pleasant time. Noticing how Smoke has liquidity issues I figured why not setup a Dexbot to increase order book depth which would bring liquidity to the market. Dexbot is an Open source trading bot built by the BitShares community to support and encourage tokens to get liquidity. One of many brilliant projects built on the BitShares platform. My main intention of setting up this bot is to not gain profits but to get some sort of trading activity going on. This is quite an essential criteria to get listed on exchanges.
working.JPG

I was introduced to this project by @CryptoKong, a well known BitShares community member. For some reason I assumed it would be extremely difficult to set it up but it's really easy. The guides published are very informative and sufficient for a novice trader like me to set up the bot. Although, I had few doubts to be cleared, they were very quick in assisting me. Don't hesitate to ask any questions I'm sure you will get help. I'll drop the links to the guides and respective channels so anyone who is interested in market making for smoke could hop on the bandwagon. I'm also going to leave my worker settings page for reference so you can get an idea on how it would look. Remember, strategies are subjective. Go with what works best for you.
dexbot.JPG

I highly recommend reading the following guides before you setup the worker so you get a basic understanding of how it works.

Dexbot setup guide: https://medium.com/@CryptoKong123/market-making-dexbot-user-guide-ae7b5808b3b6
Staggered orders strategy: https://github.com/Codaone/DEXBot/wiki/The-Staggered-Orders-strategy
Github: https://github.com/Codaone/DEXBot
Telegram: https://t.me/DEXBOTbts



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Oh neat, and it has a CLI UI so you could host it on a remote machine.

I have a very small amount on bitshares, I wonder if we can bot-battle.

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Loving this, I may soon[ish] run some like that too. But absolutely to upsell, yes. Blatantly to upsell and increase stake even, AKA as profit. :P

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Hahaha I'll consider this in the later stages :P

Liquidity improved in the Rudex.Smoke market, which is important.
Dexbot brings liquidity and new people to Bitshares, I am glad it got funds again from the Network, to improve further.

Liquidity is like Smoke, you can't have enough.

Been trying to create liquidity for the Smoke token on Bitshare for some time now, I guess this will be of great help to me, will go through it and try to set up my own

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Nice. More the people who setup the better!

Wow I'm really looking forward to it. Have never used a bot, always wanted to try it. Thanks for the info and of course how to hire it. I'll take a closer look at that time. Top

when i run the bot it doesnt place order on rudex rather it places it on bitshare dex

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Indeed. The base asset should be "rudex.smoke." That's why I attached the worker setup page for reference :)

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thanks its working properly now, to the moon, thats where we will me

Sort of disingenuine, is it not?

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Market making is part of any blockchain issuing cryptocurrency such as SMOKE. Due to not having genuine markets and people not willing to reach out for 50$ in a pocket to just click 10 times a day between themselves we got delisted from CoinMarketCap as a dead/inactive market (not a blockchain).

Nobody is interested to look at the blockchain if first glance on markets shows 0/dead, hence here we are now.

Great initiative @chiraagnd !

Keep up the good work and healthy markets! We will get back to CMC soon!

Chee®s

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P.S. And there's 5% upsmoke from @officialfuzzy using his SMOKEBIT token :)

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Thanks a ton for the encouragement :)

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Finally I know why we are no longer listed. :-) Thought at that time I was the only one where token has bought. Believe it was inse total for 100 ¬ about a little more evt. Somehow the problem is überal that no new people come. Well, but everyone where I told it found it great until I started with Bts and token, etc. Since the enthusiasm was gone. That should be a lot easier for no Crypto people. When I think about how I started 1.5 years ago with zero plan. If my company had not done so back then and I had had time without end I would not be here either. Find it great the whole technology people, etc. But where work and not at all know do not have the time and desire. A pity but it is also the beginning I think. Great text greetings from Germany

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It's a type of market making. If you look at the major exchanges...a market making(liquidity) bot is usually a requirement. Who wants to buy into a coin that you hold onto for days or even weeks before you can sell because there
is no market aka liquidity?

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Thanks, Toker, this is something I will need to look into.

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Not sure what you mean! Could you elaborate?

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I mean, it sounds like a bot that basically makes trades with yourself, to create an "artificially" high trading volume. But, that`s just what it sounds like at first glance. I need to look into it.

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I think you're getting confused with wash trading with market making. Yes I suggest you read through for a better understanding.

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I think there’s many a case where the line between both is that darn thin that you may not spot it without microscope. And no, I will not pardon for the pun.

Let’s be honest, in regulated markets neither would fly. CMC does generally do a good job at cleaning wash and spot trading from its volume though, at least in as far as they can certainly be detected.

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On DEX its uber easy. Head on to favorite block explorer, open a token and look holders and markets. On a markets you can see which username holds which order.

Example - scroll to bottom of the page -> http://cryptofresh.com/a/RUDEX.SMOKE

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From what I read and understand dexbot places orders based on your strategy at different intervals. Wash trading is placing simultaneous orders by the same person?

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yes it does and helps u replaces filled orders so you will always be in profit for every successful trade as long as u have the bot run

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Thanks, I am looking into it now, and what you are saying makes more sense.