Arbistar 2 Review - The Best Crypto Arbitrage Bot

01-24 06:23 - 'You can use bots if you want to make many small trades (and earn about 0.3% on them). If you want to make smaller number of big trades, then you need to search for arbitrage possibilities manually.' by /u/switerkin removed from /r/Bitcoin within 39-49min

'''
You can use bots if you want to make many small trades (and earn about 0.3% on them). If you want to make smaller number of big trades, then you need to search for arbitrage possibilities manually.
'''
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Author: switerkin
submitted by removalbot to removalbot [link] [comments]

Collapse of MakerDAO Keepers: $4.5M lost & how to become a Keeper to earn 13%+ liquidation penalties by providing liquidity to MakerDAO Keeper Pool.

TL;DR - join waitlist for MakerDAO Keeper Pool to earn yield on DAI/ETH/USDC/USDT/Chai/sUSD/cDAI from liquidation penalties and ETH/DAI arbitrage profits earned in collateral auctions by the Keeper Pool (zero fee pool, non-custodial of course:) - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
________
Unfortunately, many of us became victims of MakerDAO collateral auctions market. This market was brought to its knees today, resulting in:
1) Losses affecting some of the MakerDAO Vault holders (borrowers of DAI from the Multi-Collateral DAI system), and
2) Losses affecting 100% of MKR token holders, - minting enough MKR and selling them for DAI to cover the missing DAI in the system. The auctions will begin on Wednesday, March 18, 2020.
For the last 14 hours I've been focusing on determining the root cause of the problem, and determining WHAT CAN I DO? to prevent this collapse from ever happening again.
Collapse of the MakerDAO Auctions.
Losses above is a result of a short-term monopoly in the auction market of collateral liquidation of MakerDAO vaults becoming under-collateralized with price of collateral (ETH, BAT) on the decline. This monopoly existed for ~3.5 hours this morning, allowing a single Keeper to buy close to $4.5M worth of ETH in exchange for ~0 DAI + gas fees.
The collapse negatively affected two classes of market participants:
1) Victim class #1: MCD Vault holders who were being liquidated between ~10am EST until ~1pm EST
Please meet Paul, one of the people who lost money. Read his story:
https://www.reddit.com/MakerDAO/comments/fhn1qn/complete_vault_liquidation_no_eth_left/
If you still didn't get it, please meet BitBurst who lost his life savings today:
https://www.reddit.com/MakerDAO/comments/fhs7kp/just_got_100_liquidated_with_my_1713_eth_cdp_fck/
Want more? One of us with a Reddit handle 'phyzled' is calling for help:
https://www.reddit.com/MakerDAO/comments/fhrjxp/help_complete_liquidation/
Even 'Bitcoin_Bender' is threatened. Not just him but his life and his family are going downhill:
https://www.reddit.com/MakerDAO/comments/fhupn8/total_liquidation_mkr_holders_should_take/
2) Victim class #2: MKR holders who will be diluted on Wednesday, March 18th as a result of Flop auction - minting new MKR tokens and selling them at an auction until the auction proceeds cover the missing DAI ($4.5M DAI at the time of this writing).
WHAT HAPPENED?
Prior to ~10am EST, there were a lot of Keepers bidding against each other for collateral at 13% liquidation penalty. Keepers are software bots which monitor Vaults and participate in auctions for collateral of borrowers who became under-collateralized. Operators of such bots are incentivized with mandatory 13% liquidation penalty imposed on Vault collateral upon liquidation.
https://docs.makerdao.com/auctions/the-auctions-of-the-maker-protocol
https://docs.makerdao.com/smart-contract-modules/collateral-module/flipper-detailed-documentation
However, after 10am EST, a single liquidation auction bot was able to bid at 0 DAI (or slightly above) PER EACH COLLATERAL ETH BEING AUCTIONED, AND WIN THE AUCTION. As a result, this Keeper was effectively steal $4M worth of ETH collateral because the auction was designed to raise at least 4M DAI in exchange for the ETH that was auctioned during liquidations, however all except one Keepers stopping their operations, there was only one bidder. Any price above 0 would be accepted. As a result, but the Vault holders who supposed to receive some ETH back, never got any ETH back > making the effective liquidation penalty to over 50% instead of 13%.
Why did the Keeper's market collapse? Why most Keepers stop operating?
Unfortunately, most Keepers stopped operating this morning due to the following reasons:
Root cause #1: Catastrophic liquidity crunch. Keepers simply ran out of DAI to bid in the collateral auctions due to
1.a I believe some Keepers were unable to continue Keeper operations due to inability to liquidate ETH fast enough for DAI.
1.b Some Keepers shut down due to squeeze (bought ETH for 170 DAI, and hours later can only sell for 130 DAI at a loss - which is way more than 13% liquidation penalty).
Root cause #2: Network congestion. This brought many Keepers to its knees. Even with liquidity, many were unable participating in auctions due to stuck transactions & high gas costs. In addition, issues like longer client sync times + some Ethereum clients (like Parity) sufferring from known problems of keeping transactions stuck in Mempool for a very, very long time, amplified this problem.
PROPOSED SOLUTION - MakerDAO Keeper Pool.
Why don't we pool our liquidity (non-custodial pool, Uniswap-style) and give Keepers some competition!?
To prevent more people from losing their funds, I decided to fund development of a MakerDAO Keeper Pool, which will allow anybody to become a Keeper and participate in liquidations of collateral (to earn 13% liquidation penalty).
Background: During today’s Community Call (5 hours and still ongoing at the time of this writing), multiple members of the Maker community stressed importance of increasing # of Keepers servicing the MCD system in order to prevent yet another collapse of the Keepers market as it happened today.
To improve maturity of the Keepers market, increase the collective liquidity used by Keeper’s, engineers at Protofire.io (developers of MakerDAO governance dashboard https://mkrgov.science, Solhint - Solidity Linter https://github.com/protofire/solhint, maintainers of Gnosis Conditional Exchange https://github.com/protofire/gnosis-conditional-exchange) and risk team + engineering team at Atomica.org (developers of Atomica.org/unwind/) launched emergency efforts to ship one or more of the following ASAP:
  1. Web-based MakerDAO Keeper. Perform liquidations of 3rd party collateral from your browser as a Keeper. Earn 13% liquidation penalty.
  2. Open Source Keeper Templates. Run your own Keeper Bot on AWS - 1-click Installer for a MakerDAO Keeper Bot (open source Amazon Machine Image).
  3. Non-custodial MakerDAO Keeper Pool. Earn yield on DAI/ETH/USDC/USDT/cDAI/Chai from a pool running multiple Keeper bots servicing MakerDAO ecosystem. Join/Exit/Add/Withdraw DAI/ETH/USDC/USDT/cDAI/Chai, and earn 100% of liquidation penalties earned by the Keeper (zero fee pool).
Ultimately, we aim to:
- Upgrade the MakerDAO Keeper Pool to be a Keeper of Last Resort. Think of a Keeper backed by on-chain, guaranteed liquidity AND configured to participate in auctions with bids of at least 0.85 of the current ETH-DAI market price, as reported by oracles. So long as the Keeper Pool is operating, no Keeper will be able to take advantage of the system and cause yet another collapse of the MakerDAO Collateral Auction markets.
- Ship 3rd party JavaScript / npm library + Android/iOS SDKs to embed Web-based Keeper or MakerDAO Keeper Pool join/exit/add/withdraw liquidity into your own dApp, protocol, product or service.
If anyone is interested in developing/observing/joining MakerDAO Keeper Pool (for example by running their own Keeper using hardened AWS AMI template, or by providing liquidity (DAI/ETH/USDC/USDT/cDAI/Chai) to a Keeper Pool) - feel free to join our working group working to ship a MakerDAO Keeper Pool ASAP - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
Its not about what DeFi can do for you. It is about what YOU can do for DeFi.
submitted by renatco to ethereum [link] [comments]

Anyone tried Prance Gold? Is it an MLM company?

Hey guys!
I came across this company, Prance Gold, and was wondering if anyone had tried the platform? I’m just doing a bit of research because I have experienced in some cryptocurrency MLM niche and just making sure that this isn’t what it is.
Here’s what I found out so far:
  1. From the website, they advertise their 7-hour investment return and this is what sparked my interest for the site. For me this shows that my money won’t be locked-in for a long time.
  2. To earn money for your investment, it operates using an algorithm for its crypto arbitrage. According to the site “Prance Gold Algorithm (PGA) is the highly coveted cutting-edge trading algorithm system developed for high speed triple-directional arbitrage trading on various cryptocurrency exchanges.” I think this is a good thing because a bot does the trade for you, no need to manually do it. Saves a hell lot of time.
  3. It accepts cash and bitcoin which is good for people who want to try crypto trading but doesn’t know how.
From what I found out so far, it’s pretty great and no sign of MLM. What about your experience guys?
Btw, this is the site and where I found all the info I mentioned above.
https://prancegoldholdings.com/
submitted by chesiboi0310 to Crypto_General [link] [comments]

Collapse of MakerDAO Auctions: $4.5M lost & how to become a Keeper to earn 13%+ liquidation penalties by providing liquidity to MakerDAO Keeper Pool.

TL;DR - join waitlist for MakerDAO Keeper Pool to earn yield on DAI/ETH/USDC/USDT/Chai/sUSD/cDAI from liquidation penalties and ETH/DAI arbitrage profits earned in collateral auctions by the Keeper Pool (zero fee pool, non-custodial of course:) - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
________
Unfortunately, many of us became victims of MakerDAO collateral auctions market. This market was brought to its knees today, resulting in:
1) Losses affecting some of the MakerDAO Vault holders (borrowers of DAI from the Multi-Collateral DAI system), and
2) Losses affecting 100% of MKR token holders, - minting enough MKR and selling them for DAI to cover the missing DAI in the system. The auctions will begin on Wednesday, March 18, 2020.
For the last 14 hours I've been focusing on determining the root cause of the problem, and determining WHAT CAN I DO? to prevent this collapse from ever happening again.
Collapse of the MakerDAO Auctions.
Losses above is a result of a short-term monopoly in the auction market of collateral liquidation of MakerDAO vaults becoming under-collateralized with price of collateral (ETH, BAT) on the decline. This monopoly existed for ~3.5 hours this morning, allowing a single Keeper to buy close to $4.5M worth of ETH in exchange for ~0 DAI + gas fees.
The collapse negatively affected two classes of market participants:
1) Victim class #1: MCD Vault holders who were being liquidated between ~10am EST until ~1pm EST
Please meet Paul, one of the people who lost money. Read his story:
https://www.reddit.com/MakerDAO/comments/fhn1qn/complete_vault_liquidation_no_eth_left/
If you still didn't get it, please meet BitBurst who lost his life savings today:
https://www.reddit.com/MakerDAO/comments/fhs7kp/just_got_100_liquidated_with_my_1713_eth_cdp_fck/
Want more? One of us with a Reddit handle 'phyzled' is calling for help:
https://www.reddit.com/MakerDAO/comments/fhrjxp/help_complete_liquidation/
Even 'Bitcoin_Bender' is threatened. Not just him but his life and his family are going downhill:
https://www.reddit.com/MakerDAO/comments/fhupn8/total_liquidation_mkr_holders_should_take/
2) Victim class #2: MKR holders who will be diluted on Wednesday, March 18th as a result of Flop auction - minting new MKR tokens and selling them at an auction until the auction proceeds cover the missing DAI ($4.5M DAI at the time of this writing).
WHAT HAPPENED?
Prior to ~10am EST, there were a lot of Keepers bidding against each other for collateral at 13% liquidation penalty. Keepers are software bots which monitor Vaults and participate in auctions for collateral of borrowers who became under-collateralized. Operators of such bots are incentivized with mandatory 13% liquidation penalty imposed on Vault collateral upon liquidation.
https://docs.makerdao.com/auctions/the-auctions-of-the-maker-protocol
https://docs.makerdao.com/smart-contract-modules/collateral-module/flipper-detailed-documentation
However, after 10am EST, a single liquidation auction bot was able to bid at 0 DAI (or slightly above) PER EACH COLLATERAL ETH BEING AUCTIONED, AND WIN THE AUCTION. As a result, this Keeper was effectively steal $4M worth of ETH collateral because the auction was designed to raise at least 4M DAI in exchange for the ETH that was auctioned during liquidations, however all except one Keepers stopping their operations, there was only one bidder. Any price above 0 would be accepted. As a result, but the Vault holders who supposed to receive some ETH back, never got any ETH back > making the effective liquidation penalty to over 50% instead of 13%.
Why did the Keeper's market collapse? Why most Keepers stop operating?
Unfortunately, most Keepers stopped operating this morning due to the following reasons:
Root cause #1: Catastrophic liquidity crunch. Keepers simply ran out of DAI to bid in the collateral auctions due to
1.a I believe some Keepers were unable to continue Keeper operations due to inability to liquidate ETH fast enough for DAI.
1.b Some Keepers shut down due to squeeze (bought ETH for 170 DAI, and hours later can only sell for 130 DAI at a loss - which is way more than 13% liquidation penalty).
Root cause #2: Network congestion. This brought many Keepers to its knees. Even with liquidity, many were unable participating in auctions due to stuck transactions & high gas costs. In addition, issues like longer client sync times + some Ethereum clients (like Parity) sufferring from known problems of keeping transactions stuck in Mempool for a very, very long time, amplified this problem.
PROPOSED SOLUTION - MakerDAO Keeper Pool.
Why don't we pool our liquidity (non-custodial pool, Uniswap-style) and give Keepers some competition!?
To prevent more people from losing their funds, I decided to fund development of a MakerDAO Keeper Pool, which will allow anybody to become a Keeper and participate in liquidations of collateral (to earn 13% liquidation penalty).
Background: During today’s Community Call (5 hours and still ongoing at the time of this writing), multiple members of the Maker community stressed importance of increasing # of Keepers servicing the MCD system in order to prevent yet another collapse of the Keepers market as it happened today.
To improve maturity of the Keepers market, increase the collective liquidity used by Keeper’s, engineers at Protofire.io (developers of MakerDAO governance dashboard https://mkrgov.science, Solhint - Solidity Linter https://github.com/protofire/solhint, maintainers of Gnosis Conditional Exchange https://github.com/protofire/gnosis-conditional-exchange) and risk team + engineering team at Atomica.org (developers of Atomica.org/unwind/) launched emergency efforts to ship one or more of the following ASAP:
  1. Web-based MakerDAO Keeper. Perform liquidations of 3rd party collateral from your browser as a Keeper. Earn 13% liquidation penalty.
  2. Open Source Keeper Templates. Run your own Keeper Bot on AWS - 1-click Installer for a MakerDAO Keeper Bot (open source Amazon Machine Image).
  3. Non-custodial MakerDAO Keeper Pool. Earn yield on DAI/ETH/USDC/USDT/cDAI/Chai from a pool running multiple Keeper bots servicing MakerDAO ecosystem. Join/Exit/Add/Withdraw DAI/ETH/USDC/USDT/cDAI/Chai, and earn 100% of liquidation penalties earned by the Keeper (zero fee pool).
Ultimately, we aim to:
- Upgrade the MakerDAO Keeper Pool to be a Keeper of Last Resort. Think of a Keeper backed by on-chain, guaranteed liquidity AND configured to participate in auctions with bids of at least 0.85 of the current ETH-DAI market price, as reported by oracles. So long as the Keeper Pool is operating, no Keeper will be able to take advantage of the system and cause yet another collapse of the MakerDAO Collateral Auction markets.
- Ship 3rd party JavaScript / npm library + Android/iOS SDKs to embed Web-based Keeper or MakerDAO Keeper Pool join/exit/add/withdraw liquidity into your own dApp, protocol, product or service.
If anyone is interested in developing/observing/joining MakerDAO Keeper Pool (for example by running their own Keeper using hardened AWS AMI template, or by providing liquidity (DAI/ETH/USDC/USDT/cDAI/Chai) to a Keeper Pool) - feel free to join our working group working to ship a MakerDAO Keeper Pool ASAP - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
Its not about what DeFi can do for you. It is about what YOU can do for DeFi.
submitted by renatco to defi [link] [comments]

What To Do With My Crypto Assets – Episode 002

What To Do With My Crypto Assets – Episode 002

https://preview.redd.it/ppf4rkzvzfz41.png?width=3800&format=png&auto=webp&s=018c8643e993d2244589f404e63c16fca45ce5ee
It is to believe that the price of Bitcoin will increase after the Bitcoin Halving in May or June happening soon. This prediction is backed by the fact that the price of Bitcoin has increased during the last two Bitcoin Halvings in 2012 and 2016. Another prediction going around the cryptosphere is there will be a rise in Bitcoin price due to the coronavirus incident as people are moving their assets into someplace safer such as digital currencies.
The future could never be predicted but it does seem promising as the price continues to climb up after the price fall due to the coronavirus pandemic a few weeks ago. However, there are plenty of things you can do with cryptocurrency apart from keeping Bitcoin in the corner while waiting for the price to increase. When it comes to cryptocurrency, the sky’s the limit. This episode, consider doing things that has to do with trading:

Holding Coins

The simplest thing you could do with cryptocurrency is to buy and hold them until they obtain a fair market share. Consider investing in Bitcoin, Ethereum, Litecoin etc. This would consider being a long term investment as the value is appreciated as time goes by especially when paired against a high demand fiat currency such as USD or EURO.

Staking Coins

An alternative method is to stake coins. Although similar to holding coins, staking is holding crypto coins in a crypto wallet. By doing this, they will earn staking rewards and for securing the blockchain network. Examples of staking coins are Komodo, NAV Coin, Tezos etc. What’s more, the value of a coin will increase as the demand increases.

Arbitrage Trading

Arbitrage trading is when an asset is bought and sold at multiple platforms with a slightly different price. This would create an opportunity to earn a good cut in between by buying low and selling high on another exchange. Commonly, arbitrage trading uses A.I bots such as Cryptohopper and PSIGEN.

Day Trading

Cryptocurrency is known for its high volatility which only makes sense that you can benefit from day trading. Usually, seasoned traders are more comfortable with day trading compared to new traders. This is because of the many factors to consider in order to make profitable trading which explain why some would think day trading is complex.

Leverage Trading

Leverage trading or margin trading involves borrowing funds and investing more than your actual capital. This service is available on crypto exchange platforms such as Binance. For example, 25:1 leverage (or 25x) means that for every dollar the trader stakes in equity, they can trade $25. This is also known as a 4% margin trade.
If you are interested in trading and would like to explore the list mentioned above, sign up for Brexily. Brexily is a cryptocurrency trading platform that offers zero trading fees when paired against EVR tokens. The simple interface in Brexily makes it the perfect platform for users new to trading. Brexily is set to revolutionize the crypto trading platform with its exclusive feature that allows you to fully utilize your crypto coins by paying bills and utilities, book hotels and more with cryptocurrency.
Visit www.brexily.com to explore more.
***
submitted by everus-world to u/everus-world [link] [comments]

Do Trading Bots Control The Cryptocurrency Markets?

Do Trading Bots Control The Cryptocurrency Markets?
Supposed You've researched the market price for the coin you want to buy and it is low enough, and you've decided the time is right to buy it. You immediately go to the Binance exchange and place your limit order, hoping that a slight price drop will allow your order to complete quickly.
But wait ... what just happened? After placing your order, you notice another buyer place a large order with a marginally higher price, pushing your order below the queue.
He says "fair enough" as you decide to increase the bid price of your order to keep your order in the queue and once again your order is pushed downwards and new order just appears above your order and before you know it, that attractive pricing opportunity you wanted to take advantage of is gone.
How annoying!
Why did this happen? In other words, Crypto Trading Bots.

Crypto Trading Bots

What Is A Bot?

A bot is an automated trading entity that is programmed to identify market trends and automatically execute trades. Using algorithms, these robot operators can replicate what human operators would do in response to various market scenarios. But crucially, bots can process information and make business decisions much faster than humans. And the bots they just keep improving.
They use a wealth of market data to examine trends, update their algorithms, and eventually make more informed and profitable business decisions.
Today, bots are used in many financial markets by high-frequency traders to exploit small price anomalies. Markets like currencies have undergone a bot revolution in recent years. The days of crowded commercial flats overflowing with merchants yelling "Buy!" and "Sell!" they are gradually becoming a thing of the past.
And e-commerce facilities and rows of computer servers have come in their place as automation takes hold.

Bots And Crypto Markets Are Perfectly Matched

Bots are now proving to be especially popular within the crypto community, from sophistication from free services designed for everyone to more expensive subscription-based bots for professionals.
Crypto exchanges are proving to be the ideal playground for bots to expand their influence:
Unlike traditional financial markets that normally close evenings and weekends, crypto markets are open 24 hours a day, 7 days a week. This makes them ideal for automated trading: humans sleep but trading bots do not.
With some cryptocurrencies now tradable on dozens of exchanges, the abundance of arbitrage opportunities that have arisen can be exploited more efficiently by bots than by traders.
Last year, Bloomberg set the amount of automated Bitcoin trading on some exchanges to 80% of total trade volume. Bots could also be partially liable for the massive price changes we've seen in the crypto markets.
But what is certain is that a large number of exchange order books are being influenced by bot action. And these bots can produce merchants to buy at a higher price or sell at a lower price than they originally intended. It is often the case with limited orders that bots will be the lowest offer and/or demand prices on the market, and largely the rest of the order book.
Also, bots are annoying to deal with! Seeing that your offer is outnumbered almost instantly, and by a robot, not even another merchant, can be very irritating, especially if you place your initial order intending to capitalize on what you think is a 'wrong price' in the market.
Looking at market orders, you can also observe a series of bot orders of insignificant quantities that exist close to the market price, before the initial order of any true important quantity is further from the market. Again, bots are trying to trick you into placing a market order that fills up instantly, but most of which will be filled against the large order at a worse price.

Counter Crypto Trading Bot Activity

It can be tempting to outperform the robots simply by resubmitting your limit order with a slight lowering the price although such a single trade strategy may not significantly harm your end-of-day earnings if you are a serious crypto trader who conducts multiple trades on multiple exchanges every day, these small but frequent annoyances will inevitably amount to considerable long-term loss.
As such, it may be preferable to keep your order at the price you originally intended. If there is at least some volatility in the market, then your order will complete if you are not in any particular hurry, it is also recommended to take a minute to observe the behavior of the order book. Often bot orders will appear and then suddenly disappear, or move around the book due to constant price adjustments being made. By trying to identify bot intentions, you can end up in a more informed position regarding how and when you place your order.
Of course, buying a bot yourself could also help. As more data is collected on the price behavior of various crypto assets, these machines will only evolve further and become even more sophisticated in their business competition.
But whatever you do, being aware of the existence and influence of bots will help you avoid getting carried away by a sub-optimal trading position.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

What Are Trading Bots

In the virtual world, a bot is a program that is configured for repetitive actions. They are written to save a person from mechanical and monotonous work.
The bots for trading cryptocurrency are no different from their counterparts in general: they are set to trade mechanically on the exchanges according to defined parameters.
The simplest versions of bots buy cryptocurrencies when the exchange rate drops and sell when they grow.
Since many people trade Bitcoin passively and therefore cannot spend much time analyzing the market, Bitcoin bots allow users to build more effective trades without having to stay in the market.
Although the cryptocurrency market is much less developed than other financial markets, the digital nature of the market means that the technology didn't take long to keep up with the competition, even though it had significantly less time to integrate algorithmic trading

Can I trust a trading bot?
Due to the popularity and rapid growth of the crypto world, the cryptocurrency market is full of phishing bots designed to get your data to completely steal your money or personal account.
The crypto exchanges are not responsible for the security of the user's money in the event of hacking your account. Also in the event that you transfer your personal funds and data to third parties.
Be careful with the software you are using and pay attention to the other user's feedback. It is important to find a reputable trading bot that is free from coding errors and reduces downtime to a minimum.
The security of the account for "stolen" information is on your shoulders.

Main types of bots:
A trading bot is software that interacts directly with exchanges (often using the API to obtain and interpret relevant information) and, depending on how market data is interpreted, places buy or sell orders on your behalf. Bots make these decisions, track market price movements and react according to the pre-defined and pre-programmed rules. Typically, a trading bot analyzes market actions such as volume, orders, price and time, although these can usually be programmed according to your taste and preferences.

Trade bots
Trade within a single cryptocurrency exchange, earn income by buying currencies at a low price and selling at a higher price.
Arbitrage bots
If they are the same trading robots, they only trade on multiple exchanges and earn income by buying currencies on the exchange where the price is lower and selling on another exchange where the price is higher. Although the spread between exchanges is now much narrower, they still appear from time to time, and trading robots can help users take full advantage of these differences. In addition, arbitrage can also be used by traders who want to include futures contracts in their trading strategies. They benefit from any differences between a futures contract and its underlying asset, taking into account futures contracts that are traded on different exchanges.
Market creation -
In order to implement strategies for creating markets, border orders for buying and selling must be defined in the vicinity of the existing market situation. When prices fluctuate - the trading bot automatically and continuously places limit orders to take advantage of the spread. Despite the fact that it can be beneficial in certain time periods, intense competition for this strategy can make it unprofitable, especially in conditions of low liquidity.
Are trading bots useful at all?
Trading bots react to the market. They collect the data needed for trading execution based on the analysis of the trading platform. However, the crypto trading platform can only tell "half the story" because many increases and decreases are based on other sources that cannot be programmed into a bot for analysis.
What can I do to get the most out of the Crypto Trading Bot?
The main rule: Coins in which you invest should be chosen very carefully.
Tracking the latest developments in the market is also effective. You should look for a lot of clues as to whether certain trades are successful or fail.
Well-made bots can be a tool that helps you stay one step ahead of the market. You can execute transactions based on the parameters of the developer or the parameters you set.
Some of them even offer the opportunity to copy more established dealers and analysts - and fully assess their track record.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Revolution!! *Prelaunching* Alert! HitPay Wallet & Token Global Launch will be on 1st February’2020.

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Totally different strategy with their own HitPay(HITT) Token — will be launch on external exchange also.
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submitted by jhonsmithbitcoin to u/jhonsmithbitcoin [link] [comments]

Trading, psychology, and the benefits of Trading Bots.

Trading, psychology, and the benefits of Trading Bots.

https://preview.redd.it/8lhgwekhbmv31.jpg?width=823&format=pjpg&auto=webp&s=35c417aa683b9fcdf37a126127c2e60c3ab405c2
Most beginners who open trading accounts on cryptocurrency exchanges and start independent trading, see only one goal — to earn as quickly as possible.
This is a big mistake. The fact is that trading on the stock exchange will only become truly profitable when it becomes a priority for the person who came to trading. As a rule, to combine trade with any other occupation and at the same time everywhere to succeed will not work.
Trading for a novice trader should be if not the main, then a very important and priority occupation. No need to wait for quick results.
Trading on the stock exchange — the same profession as a doctor, Builder or engineer. The only difference is that she can’t go to University. Just as one learns to be a Builder for five years, so it takes years to learn all the wisdom and secrets of the trade. Trading on the stock exchange is not a Stayer distance, it is a marathon. And the winner is the one who will find the courage to reach the end.
In addition, trade is very much changing a person, showing his qualities, which in everyday life he does not know. Over time, if a trader really wants to succeed in trading, he must completely rethink his life, change the system of values and look at many things, change himself.

Fear as a Component of Trading

The strongest emotion known to man is, of course, fear. What gives rise to the exchange’s fears? We can not predict the behavior of the market, and therefore fully control their money invested in its instruments. In addition to the unknown, when there is no understanding of how to safely get out of a predicament, we are afraid in advance of what traumatized us earlier. Because fear is so emotional, you need to surround yourself with the right facts to drive it away. We need to know for sure that our trading system should not generate more than three consecutive losing trades. Winners plan what to do if their trades fail.
So only a systematic approach will protect us from ourselves. That is why the investment rules written in the trading templates exist not only to communicate the best market opportunities but, more importantly, to protect us from our own internal “demons”.

Emotions in Trading

Seekers of strong emotions, adrenaline forget everything in pursuit of excitement. It follows that a novice investor, overtaken by the “adrenaline curse”, will trade at the slightest opportunity. Yet Dostoevsky, one of the most famous and avid players, said that for him the most acute feeling in life — to win money. The second most acute feeling is to lose them.
Paradoxically, few things give more pleasure than getting rid of the pain and torment of being in a losing trade. This creates a mental internal conflict. Awareness of losses brings “excitement” or a sense of exaltation, and our emotionality does not care what we pay for these experiences losses in the brokerage account. “Adrenaline curse” will drive us into the trade for thrills and extract them from there, regardless of the price.

Intuition on the Exchange

The mind of an intuitive investor tries to construct mental constructions of events. I will try to explain what mental construction is by the example of a chess player’s thinking. The grandmaster understands and remembers the position of each figure in terms of its mental constructions and relationships inherent in the arrangement of figures. The random arrangement of the figures does not fit into any of his mental constructs, and he cannot structure what he sees.
Market patterns on cryptocurrency charts compared to chess compositions include an excessive element of chaos so that they can be interpreted intuitively. Investors with intuition are able to achieve success with the help of” flair”, but this flair often leaves them. The intellect of the rational trader, on the contrary, is manifested in his ability to logically comprehend what is happening to him and to the reality around him and to make on this basis the simplest and most correct decision. Intuition is the ability of a person to penetrate into the essence of things not by reasoning or logical thinking, but by instantaneous, unconscious insight. This is the ability of a trader to “ see the market not with his mind but with his heart.” But, even with a highly developed intuition, you can not act on the market, using only it.This is the trap of intuitive trading — it is impossible to learn.

Fear of Taking Responsibility

What distinguishes successful traders from losers who lose money? First of all look at life. Most people are very passive.
If you ask people if they are happy with their lives, the answer is likely to be negative. On the question of who is to blame, I would say that the fault of the parents who have not given a good education, why now not get a good job; blame the employer who delays wages; blame the dollar, which is rising, then falling; to blame the President and the government who do not pay pensions, etc., In their troubles and problems most of the people blame anyone but themselves.
The same thing happens in the market because the exchange is a mirror of our life. Talk to the trader losing money, ask why he can’t make money in the market. He replied that the fault of the insiders, manipulators, blame the binary options broker too much Commission, to blame the neighbor who suggested the deal, which turned into a heavy loss. In other words, he himself would have been a millionaire long ago, but for a number of reasons, certainly beyond his control, until that happened.
If a person wants to achieve something-not just to lead a life, which are millions of ordinary people (every day to go to work, save five years for a car, twenty years for an apartment, etc.), and to live a full life, so that the financial issue went into the background, to work for fun, not for money, he needs to take responsibility for everything that happens in his life. A person needs to realize that the cause of everything that happens to him is himself.It is this view that allows you to succeed in life and in any business. And trade is no exception.
This is the way successful traders look at life. Once you realize that the cause of all your losses is yourself, and not some mythical manipulators, then the case will move forward.
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In the age of digital technologies, when artificial intelligence develops, computer technologies improve, mankind creates various tools to facilitate their own life and everyday life.
If we pay attention to trading, then this direction is actively developing, getting new and unique tools. Since any trader (beginner or experienced specialist) is subject to emotions and various psychological factors, there are tools such as trading bots.

Trading Bots/Robots

A trading robot (bot) is a program that has a certain algorithm. It buys or sells cryptocurrency assets, focusing on the situation in the market. The first trading robots appeared in 2012, and since then they have become more and more perfect. Currently, according to some estimates, 90% of short-term transactions are made either by bots or with their participation.
Bots are usually developed for specific trading platforms. Most cryptocurrency exchanges have an API, and they are generally positive about free auto trading within their platform.
In contrast to the positive attitude to exchange robots, exchanges often have a negative attitude to arbitration robots. On the rules of trade can be found in the official documentation of the exchange, and if there is no such information, the question can be asked directly to technical support.Some people wonder: is it possible to write your bot trader? This is not an easy option, which is suitable only for experienced programmers. After writing, bots are tested for a long time in the market, corrected numerous errors, corrected strategy.
A programmer can also write a bot based on someone else’s code. Some bots are open source, and anyone can find it on GitHub and modify it to fit their needs.
Buy a bot for trading cryptocurrency: there are inexpensive programs for trading (about $ 10), and the cost of more high-quality and complex exceeds more than $ 200 and even $ 1000. There is no maximum price limit for bots, top bots are written to order $ 1500 and more.
Users are usually offered a choice of several tariff plans for crypto bots, from economy to luxury. The inexpensive option includes the most basic trading algorithms, and the expensive one brings maximum profit and works on more complex algorithms. Arbitration bots are a more expensive exchange. Known cases when downloading the bot, people got on your computer virus-miner or virus-cipher, which encrypt all your personal files and demanded a ransom in bitcoin, usually in bitcoin. Naturally, after transferring the ransom to the specified wallet, no decryption of the files occurred.
Trading strategy of stock and arbitrage bots can be very simple, for example:- When the price of cryptocurrency decreases, you need to buy it.- If the price rises, it should be sold.- Or much more complicated. The algorithm can take into account historical data for the last time, indicators, navigate by signals. Quality bots analyze more than a hundred parameters when placing orders.
Some programs do not change the algorithm, and there are bots that can connect or configure additional parameters. This option is well suited for experienced traders who have their own preferences in the style of trading.
A standard bot can perform such actions:- To assess the market situation, to monitor the rate at a given period of time, to make a forecast. In manual trading, it can show signals to the trader.- Create buy or sell orders.- To report on the profit or loss received.
On the example of our IMBA-Exchange, we came to the conclusion that we also need to provide an opportunity for each trader to use bots so that they can be in a comfortable trading environment.
Our exchange specialists are developing their own bot for cryptocurrency trading, which will be an excellent and convenient addition to every trader who wants to eliminate the psychological factor and seeks to get stable earnings without losing personal time.
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IMBA-Exchange Metronix bot makes life easier for every investor.
For example, Ing. Michael Eder the CEO of IMBA-Exchange, who has 10 years of experience in trading and the last 3 years in cryptocurrency trading, has firmly decided for himself that in the current realities trading on the exchange simply needs bots:
Throughout the time that I have been trading, I can confidently say that today trading bots are necessary for all traders as the main tool. No matter how long you are in exchange trading, but the nature of the person is designed so that under the influence of psychological factors, market conditions, etc. You still make mistakes and, as a result, this leads to financial losses.Our Metronix Trading Bot will help to solve these problems and eliminate negative consequences. A bot is a tool; it has no feelings. He performs a specific task for a given program and performs it almost unmistakably. The task of the trader is to monitor the situation on the market and correctly, as well as at the right time to configure your bot.
Stay with us, in front of you will find many interesting and new.
Material developed by experts IMBA-Exchange
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Rebalancing Crypto Portfolio: What is BAT, Brave, PAY & TenX?


I just sold off my entire PAY holdings to buy BAT tokens. My average cost for PAY tokens was around $0.90 and I bought 502 of them (current price is around $0.30). I had around 200 initially but added on another 300 late last year in Dec 2018. The reason is that the company is issuing a 1-to-1 new TenX token for every PAY token you hold. TenX token is a reward token that would be issued out in Q2 2019 and rewards (in the form of PAY) are expected to come in Q3 2019. The snapshot has already happened, meaning that I would receive 502 TenX tokens in a few months time, regardless of whether I sold my PAY tokens or not. You can read more about TenX token from their official blog post.
PAY will be the reward we receive starting from Q3 2019 and the payout will be made every quarterly depending on the company’s financial performance. My cost price for getting 502 PAY is around $458, which means I would need to get around $23 annually for a yield on cost of 5%. I will write a new post about TenX when I receive the new tokens and when the first rewards payout is distributed. Everything will happen in 2019, so stay tuned.
Who is TenX?
TenX is actually a crypto card company and their goal is simply to allow cryptocurrencies to be spent anywhere in the world. Here is actually a video of my first transaction buying Mac in bitcoin a few months back.
The experience was pretty cool, liberating and surreal I would say. You got to try it for yourself. For the first time in history, products and services can be bought with a currency that is not controlled by ANYONE or any intermediary. There won’t be bank bailouts, political issues, government failures, quantitative easing and that sort of stuff. The note in your wallet is basically an IOU, something the bank owes you, but the BTC in your wallet is solely yours and nobody can take it away from you, as long as you keep your private key safe.
We don’t really face all these problems in a first-world developed country, but the people who really need this are those from countries such as Venezuela. The country faces corruption and their notes are denominated in millions due to hyper-inflation. These worthless paper money are being dumped everywhere on the streets. I would not go too in-depth about this and you can read more about the inflationary impact of money from my previous post.
If you are interested, you can order a card from Tenx as the cards are available in Singapore, Malaysia, Hong Kong, Australia, New Zealand and recently Thailand. They are rolling out the cards in other regions progressively and their banking license in Europe is still in the process of happening. The orders for their Tenx card is insane. They are growing at around 10-15% every week I think.
Reason for Selling PAY Tokens
I sold off my PAY tokens because it was originally a reward token that gives out rewards from the pool of transaction fees when people spend using TenX card to all PAY token holders. However, they run into regulatory issues with this as “Securities Token” is an extremely sensitive topic in the regulatory arena. Hence, the TenX token was created with an added feature known as the ERC-1462. The rationale behind this is simply for compliance reasons; to comply with securities regulations and legal enforceability.
Utility of PAY Tokens
Now that TenX token has replaced the original utility of PAY as a “reward token”, you might ask what’s the function of PAY tokens now. This is a good question and the answer is: “nobody knows yet”. The team behind TenX is currently working on the utility of PAY tokens and no conclusive information is available at the moment. However, some of the possible ideas that were suggested include things like rebate fees, lower transaction fees when spending crypto or other specific uses for TenX services.
Since TenX token has already replaced PAY token as the reward paying coin, then it does not make sense for me to keep PAY tokens anymore. I am more interested in holding and buying the goose rather than keeping the eggs. Unless there is a strong utility function or incentive for me to hold the eggs, I really don’t see the rationale to hold my PAY tokens in the short-term. My investment philosophy in crypto is towards staking and rewards tokens that distribute some form of dividends one way or another. I believe the pool of money would work harder for me if I allocate it somewhere else.
What is Basic Attention Token (BAT) Token?
And where did I put it? I reallocated all my PAY tokens towards BAT tokens. So what is BAT? It’s not some kind of scammy, bs project. I don’t invest for the sake of quick random gains. I am actually grateful for the crypto winter as a “massive cleansing” is needed to drive out all the frauds and shitty projects that fail to make the cut. Those who survived will rebound even more resiliently and I am really looking forward to seeing the progress and adoption coming in. As the saying goes, “I’d rather lose money in crypto and end up being wrong than potentially miss the greatest investment opportunity of our generation.”
In my opinion, there are 2 things that would massively change in the next 5-10 years. One is China and the second is Blockchain. The latter has already become the most commonly discussed topics in World Economic Forums and these large giant monopolies are getting into the game. They have to because technological disruption is inevitable. You see Facebook, Tencent, Samsung, Microsoft, PwC, Deloitte, IBM, Walmart, Maersk, JP Morgan, Fidelity, Bakkt and the list goes on. They are all coming in. It’s only a matter of time. To find out more about institution money in crypto or how I got started, you can read about it in detail from my previous post.
Anyway, let’s cut the chase short.
So what’s BAT? To understand BAT, we must first understand the Brave Browser. BAT and Brave Browser work hand-in-hand and they are both founded by Brendan Eich, the person who created Javascript and Mozilla Firefox. I shall let the father of Javascript do the introduction rather than me writing all about it.
Problems of the Current Advertising Model
Problem #1: Our browsers are filled with countless trackers and Ads that are annoying and invasive. I am sure you have experienced the case where you researched something, and the ads related to what you are reading on started popping up everywhere the next moment. These are all run by trackers and the internet is attempting to build a digital profile about you so that they can sell you stuff.
Problem #2: Publishers are earning pennies. Well-known famous bloggers in Singapore can vouch to this. They don’t earn much from ad revenues on their sites. The problem with our current digital advertising industry is it is run by monopoly companies such as Google Ad sense and Facebook Ads. They take a huge cut of revenue (73%) from the publishers because they can. They have earned monopoly status.
Problem #3: There is a huge load of middlemen and intermediaries between the marketer and publisher. For a single ad unit to pass through to the publisher, it has to go through all these data aggregators, data management platform, data suppliers, analytics, verification and the list goes on. Money is being leaked out to all these central intermediaries and it adds up to a high transaction cost to brand ad campaigns.
Problem #4: Users often use ad blockers and over 600 million users and phones run ad-blocking to block off unwanted annoying ads. The result of this affects advertisers and publishers as their “ads” are not being directed towards users. Targetting is poor and users are ignoring ads.
Problem #5: The whole advertising ecosystem is plagued with frauds, malware, ransom-ware and some marketers are being fooled by bogus websites. There are tons of fraud bots going around the internet and our browser is vulnerable to all these hacks & viruses.
How can Brave & BAT solve the problems?
I will not go too in-depth with the elaborations as this post is meant to document the recent transaction I made on my crypto portfolio. Basically, Brave is a browser that is designed to block off ALL trackers and Ads. This result in a browser that is faster, more secure and more private. The BAT token is a utility token for 3 groups of people: Users, Publishers and Advertisers. Users are being paid with BAT tokens to view ads if they choose to opt-in for the option to view ads. Advertisers are required to purchase BAT tokens to advertise. Publishers are being paid based on the attention time users spent on the sites. Users can choose to make micro-contributions to tip their favourite content creators and websites. Publishers can offer premium content to users and payments can be in the form of BAT tokens. To read more about how the Brave Browser and BAT tokens work, you can read up about it over here.
How does it look like?
Here is an example of using the Brave browser. I have been using Brave for about 1 month and have since replaced Brave as the default browser over Google Chrome. You can see the number of Ads and trackers that are being blocked. Youtube and FB have a ton of all these trackers and ads. It’s really surprising to see the statistics. Not only that, the browser load time is faster, more secure and the best part? You are being PAID to view Ads. I don’t see any reasons not to like Brave. They actually did a test to compare between Chrome, Brave and Firefox. The results are 2x faster in desktop and 2-8x faster on mobile.
It would look something like this, where you can opt-in to receive BAT rewards for viewing Ads. If you don’t want these annoying Ads, you can disable the Brave Rewards function and no ads would pop up on your screen. Unfortunately, Ads are currently not available in Singapore yet, but they will be rolling out to the whole world by end of 2019. Countries such as the US, Canada, UK, France and Germany are already using it now. This feature was just released 3 weeks ago on 25 April 2019. People from these countries have already received their first payout of BAT tokens just from viewing ads on their browsers as of 8 May 2019. I would write a new post on this when ads are available in Singapore. Can’t wait for it.
Are you a Content Creator, Blogger, Youtuber, Website Owner?
If you fit into any of the above categories. Good news for you! Content creators form an integral part of the entire ecosystem and there is a huge opportunity for you to earn BAT tokens in the future. You are being paid for the content that you publish on the web. The more people visit your sites, the more time they spent on your sites, the more revenue you earn from their attention. Essentially, you are being paid by your audience based on the attention they spent on your site rather than relying on menial ad revenues. I would highly recommend that you sign up as a verified publisher on their web page. I have already verified my website. \This is not an affiliate link and I don’t earn any commissions*. It’s really up to you whether you want to be a verified publisher and earn BAT tokens in the future.
Why BAT Tokens?
The reason why I replaced PAY with BAT into my portfolio is because of the following charts which I am about to show you now.
The estimated download for Brave browser on Android is 25 million and an estimated 2 million downloads are being hit every month. The growth and adoption of Brave browser are turning parabolic as you can see from the charts above.
What Drives the Value of BAT Tokens?
Why is that so? The entire value of Brave and BAT comes from the network effect. It’s just like Grab, Uber or Airbnb. The more people use it, the more valuable the company will be. It starts with getting publishers onboard. After which, YouTubers, bloggers and publishers would spread the word out to their thousands and millions of subscribers and followers because they can earn 5 BAT tokens for every active download. There is an incentive for users to use Brave browser because it’s ad-free, faster, more secure and they are being PAID to view ads. This positive loop cycle compounds over time and it would eventually lead to an exponential growth of adoption in a short span of time. Do note that we are just talking about countries like the US, Canada, UK, France and Germany, when ads are available in other regions, especially when it comes to Asia, this thing will explode.
So why does having more people using Brave browser increase the value of BAT tokens? Well, this is because as mentioned earlier, advertisers have to use BAT tokens to advertise. If I told you that there are 500 million users on Brave and your ads are targeted to users based on their profile match and they are willing to view your ads voluntarily because they are being paid to do so, would you be interested in it? Brendan Eich has confirmed that there are 1,300 advertisers on Brave ads which are on the waiting list right now. When the floodgate opens, it would be interesting to see how the market reacts to it.
Dethroning Google’s Ad Business?
If you are vested on Alphabet or Google, this is something you should watch out real close. Their advertising revenue takes up a huge chunk of the group’s total revenue and its recent Q1 2019 earnings have declined due to lower contribution from ads. The switching cost between browsers is practically zero. If a growing number of users, publishers and advertisers are migrating from Google Chrome to Brave Browser, which is already happening now, Google’s advertising business would inevitably take a hit and this is perhaps the essence of what blockchain is all about. To decentralise monopolistic power and transfer them to individual users.
Potential Risks and Competition
The biggest risk just as in any other crypto companies is always regulations. Regulation is always a pain in the ass, for the right reasons. But an overly-regulated country can stifle innovation and development of new technologies. When crypto first took off, regulators couldn’t be bothered as it does not pose a systematic risk to their financial systems. But the technology has grown so fast that it is too big to ignore. Hence, regulators have to play catch up in understanding the benefits and risks of the technology. Tax is another big issue. Because of this time lag between the early adopters and regulators, the whole area is still developing and it’s pretty much in the grey area. It reminds me of the quote by Mahatma Gandhi.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
Facebook is rumoured to be launching their own FB coin soon and they have recently removed their ban on cryptocurrency ads. There might be competition from the monopolies if they ever decided to go into crypto. But the good thing is that Brave has already gotten the first-mover advantage.
Using Kyber Swap to swap PAY to BAT
For the above reasons and logical reasoning, I have concluded to myself that PAY has no clear direction on the utility of its tokens (at the moment) and it does not make sense for me to hold them. Furthermore, I am more interested in the TenX tokens (goose) rather than the PAY tokens (eggs). BAT, on the other hand, is showing promising potentials and I can see how value is being derived in the long-term. As such, I have decided to swap ALL my PAY tokens into BAT tokens.
In the past, whenever we want to exchange one altcoin for another, the process would be to transfer your alts into an exchange, sell it for BTC, use that BTC to buy the other alt and transfer them back to your wallet. This whole process incurs gas fees, withdrawal fees, exchange rate fluctuations and the transactions can take hours to be verified if the network is congested. It is slow, inefficient and costly.
Fortunately, Kyber Network has introduced an innovative application tool known as the Kyber Swap. All you have to do is to connect your Metamask and swap your tokens instantly in a decentralized manner. Decentralized meaning that you are exchanging your tokens with the other party directly without going through a middleman such as an exchange. The liquidity providers are usually the market makers, token holders and token projects. The best part? Whenever you are doing a token-to-token swap, Kyber network will process the BEST conversion rate from all the reserves so that the most competitive rate is being carried out.
Conclusion
In conclusion, I can’t guarantee that I made the right choice. After all, I am selling PAY when it’s at its all-time low and buying BAT when it’s near its all-time high. My decision is based on the logical reasoning that I have made. Nevertheless, both TenX and BAT/Brave are equally solid projects which are growing at a rapid pace. I am waiting for TenX to release their TenX tokens by Q2 2019 and ads to be available in Singapore. When TenX tokens are issued out, PAY would probably spike up and all the short-term traders would get in. There is an opportunity to do an arbitrage here, but I wouldn’t take that risk.
I actually received my first payout in BAT when some random stranger decided to tip me. If you are interested in trying out the new Brave browser, here is the download link for it. Do give it a shot, play around with it and if you like it, remember to set the browser as your default.
The loading page is much FASTER and your browser will have ZERO ads and trackers. Furthermore, when ads are available in Singapore, you will be getting PAID to view ads in the future. The payout will be made to you on the 8th of May every month. \There is a referral fee of 5 BAT tokens for every active download (using the browser for at least 30 days)* If you are a blogger or you own a website, do consider this and I would really recommend you to verify your website. It is a potential alternative source of income for yourself. Click here to find out more if you are a content creator.
This is really the next generation of internet browser and it really makes us rethink the way users, advertisers and publishers interact in the digital advertising industry. The current rate of growth is exponential and I do see this taking off in the long-term, so sit tight! Revolution is coming. Keep a lookout for the next post when TenX tokens are distributed and when ads are available in Singapore.
https://brave.com/old707
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Weekly Dev Update #17

THORChain Weekly Dev Update for Week 12–18 Nov 2019

![](https://miro.medium.com/max/2880/1*Fy-NCZAKhgbZmE-iEIQChQ.png)

Recent Changes

Some recent updates to the protocol:

Update to Emission

The first iteration of the block reward scheme was announced in the previous weekly update. An immediate concern raised from the community was that the emission was too aggressive in the initial year and rewards dropped off fast beyond the 5 year mark. Taking Bitcoin’s emission as an example, the emission curve has been updated to target 2% emission after 10 years.
![](https://miro.medium.com/max/2384/1*gqBLvJOl2G4n3IHW1rViKg.png)
The Block Reward equation is given by the following recurrence equation: g(n+2) = ((R - (g(n+1) + g(n))) / x) / y Which evaluates to: ![](https://miro.medium.com/max/1624/1*ttpsRd7HUs2-7hvDGO6elg.png) where: R = Reserve, x = 6 (Arbitrary Emission Factor) y = (seconds per day / seconds per block) / days per year y = (86400 / 5) * 365.2425 The final curve thus has a Day 0 emission of 25%, Year 1 emission of 20% and Year 10 emission of 2%.

ChaosNet

The original plan for BEPSwap (prior to the Yggdrasil liquidity breakthrough) was to have it as a separate mainnet before launching the real THORChain in 2020 with cross-chain support. Now THORChain has in-built cross-chain support and a clear roadmap to 99 nodes. This means the mainnet launch will have public, community-run nodes at the start. The community has been fielding many questions about how to run a node, and the mechanics in doing so. Since the THORChain team will not be running any nodes, it is necessary to have a full-rehearsal with the community at launch. As such, the plan is for a public ChaosNet on 03 January 2020. ChaosNet will have the following key differences: * Minimum bond of 100k RUNE. * Maximum of 12 Nodes. * Churn cycle of 1 day. * Maximum stake amount of 600k RUNE total. * 2.7m RUNE Protocol Reserve to emit Bond and Stake rewards. * Hard-coded Ragnorök at 6 weeks.
Any member who wishes to join ChaosNet to get accustomed to running a node can do so, and will receive Block Rewards roughly equivalent to mainnet (25%). They will be setting up nodes, churning in, servicing the network and earning rewards. The system will hold up to 600k Rune, at which point it will refund any additional staked amount. The community can stake small amounts of real assets, prepare arbitrage bots, set up telegram alert bots and more. In short, it is a public rehearsal with the entire community across all facets (nodes, stakers, traders) so that everyone will have access to the same information and not unfairly benefit when the real mainnet launches. Additionally, the system will be hard-coded to perform a Ragnorök 6 weeks later, which will refund all the remaining reserve as well as bonded and staked assets. This will go a long way in re-assuring the community that the system can tolerate all levels of risk, including black-swan events, and that funds are safe at all times.

Internal Arbitrage

A new feature will be launched that will allow users to use internal arbitrage. This is an asymmetrical withdrawal to Rune, then immediately followed by a asymmetrical stake of Rune in another pool. A trader may want to do this instead of doing transactional arbitrage in order to exploit price differences between two pools the fastest way possible. Instead of an outgoing transaction being processed, followed by another incoming transaction, Rune balances and stakeUnits are swapped internally, being completed inside of a few seconds.

Fee-based Transaction Prioritisation

Currently there is no prioritisation to the order of transactions, all transactions are simply processed in order of time received. In moments of high demand of network resources (such as when there are large arbitrage opportunities and users are racing to exploit them), transactions will queue in the mempool. If the system cannot respond fast enough, then the reason for high demand will persist (the large arbitrage opportunity). The solution is to remove the reason for high demand in the first place, which is the large arbitrage opportunity, at the same time as collecting the maximum revenue for the system. As such, in the checkTx method (which can triage the mempool), transactions will be sorted and ordered in the value of the fee of the swap transaction. Assuming rational actors, the following transactions will then be prioritised over all others: * A transaction from an impatient swapper who is willing to pay a large fee. * A transaction from a trader who is able to arbitrage out a price discrepancy (and still make a gain).
This then means the system can collect as much income as possible (good for the stakers) at the same time as prioritising transactions that can arbitrage out large price discrepancies quickly. This then means swaps from transient swappers will experience a market price that accurately matches the reference price at all times.

BEPSwap Development

The team are working on 4 parallel streams of effort. Cross-chain infrastructure has now been merged into a single repo called “THORNode”. * THORChain * Midgard Public API * Threshold Signature Scheme implementation * Front-end Integration for BEPSwap

THORChain

Bug fixes, refactoring, as well as more logic around Yggdrasil funding. Additionally, node churn and the first part of block rewards PR was merged. * Add admin config event, fix tx out events https://gitlab.com/thorchain/bepswap/thornode/merge_requests/255 * Resolve “Select a satellite pool to swap out” https://gitlab.com/thorchain/bepswap/thornode/merge_requests/253 * Include the thorcli volume for the signer. https://gitlab.com/thorchain/bepswap/thornode/merge_requests/261 * Rune Reserves, block rewards, bond units, oh my! https://gitlab.com/thorchain/bepswap/thornode/merge_requests/258 * Add mechanism to slash a node account bond or rewards https://gitlab.com/thorchain/bepswap/thornode/merge_requests/264 * Add add event https://gitlab.com/thorchain/bepswap/thornode/merge_requests/262 * Issue198 node churn https://gitlab.com/thorchain/bepswap/thornode/merge_requests/270 * Issue199 — fix signer doesn’t process multiple txout item https://gitlab.com/thorchain/bepswap/thornode/merge_requests/271 * issue194: only rune get refund for invalid memo https://gitlab.com/thorchain/bepswap/thornode/merge_requests/272 * Outbound — mark txout item out hash based on the coin as well https://gitlab.com/thorchain/bepswap/thornode/merge_requests/273

Midgard Public API

Database ported from influxdb to timescaledb (more maturity, better developer tooling). Endpoints built out include/pools and /stakers. * Feature/new endpoint format, refactors and general clean ups
The OpenApi Schema can be reviewed here:
https://testnet-api.bepswap.net/v1/doc

Threshold Signature Scheme

TSS was successfully implemented into the Genesis ceremony, with the focus now being on the key-gen and key-sign ceremonies. Multi-cast DNS was switched out for a distributed hash table to facilitate node discovery. * Issue4 — docker images and ci https://gitlab.com/thorchain/tss/multi-party-ecdsa-dockemerge_requests/5 * Fix a docker bug https://gitlab.com/thorchain/tss/multi-party-ecdsa-dockemerge_requests/6
A proof-of-concept is being prepared using BinanceChain TSS library, which was recently launched in order to make a decision whether to switch libraries. A go-based implementation is better for THORNode, since it is also written in Go.
https://github.com/binance-chain/tss-lib

Frontend Implementation

Bug-fixes and tweaks from community feedback. The frontend is now ready for implementation with the latest Midgard API. * Resolve “Write cypress e2e test for pool stake list view” https://gitlab.com/thorchain/bepswap/bepswap-react-app/merge_requests/164 * Resolve “Update rune token icon” https://gitlab.com/thorchain/bepswap/bepswap-react-app/merge_requests/165 * Resolve “Update confirmation modal” https://gitlab.com/thorchain/bepswap/bepswap-react-app/merge_requests/166 * Resolve “Update wallet view” https://gitlab.com/thorchain/bepswap/bepswap-react-app/merge_requests/167 * Resolve “Add tooltip for wallet connection” https://gitlab.com/thorchain/bepswap/bepswap-react-app/merge_requests/168

Timelines

The team are working for these milestones: * Feature Freeze: 20 November 2019 on-time * Audit: 20 December 2019 on-time * ChaosNet: 03 January 2020 on-time

Community

To keep up to date, please monitor community channels, particularly Telegram and Twitter: Twitter: https://twitter.com/thorchain_org Telegram Community: https://t.me/thorchain_org Telegram Announcements: https://t.me/thorchain Reddit: https://reddit.com/thorchain Github: https://github.com/thorchain Medium: https://medium.com/thorchain
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Kin: The Reader's Digest Condensed Version

We all know that Kin is a unique digital currency, that it has value and utility, and that the Kin Ecosystem, currently in development, is going to be big--very big. But let’s look back for a moment. In order to see the scope of what’s happening, and where we’re going, it might be useful to look back, at where we’ve been.
Kin was started by the good folks at KIK Messenger. As Facebook and Google grew to gargantuan proportions, it became obvious to all that the old-school model of Advertisement Placement for monetization was becoming untenable for anyone other than the biggest and most entrenched of companies. Yes, the Facebooks and Googles of the world were doing fine with monetization via advertisements, and were busily scalping data from their users in a feeding frenzy to capitalize on the one asset they could sell… those users’ attention.
While most users thought Facebook was designed to give the social media platform as the product, and that they themselves were the customers, the reality is far different. The truth is that the advertisers were the actual customers, and Facebook users were the actual product. Very much like the Matrix, isn’t it? We are fed a social media mental “pudding,” and in return we give Facebook hours and hours of our attention… which it then sells to the advertisers.
Understandably, this realization came as a shock to those who were able to see and understand this revelation. Many users still do not grasp the reality of the situation, and are happily, mindlessly eating the pudding.
Leaving aside the distasteful mental image this business model give us, it created a problem for up-and-coming, and smaller but established Social Media companies. The smaller SM operations were left in a bit of a financial quandary… advertisers were loathe to spend on smaller platforms, because the reach of the giant platforms was so large and all inclusive. The remainder were basically crumbs on the floor.
From this basic problem… and the ensuing economic reality… came the idea for Kin.
Monetization is a concept that no one really enjoys talking about. For most of us, we’ve come to accept that ads are a necessary evil that we pay attention to in order to receive content; at this point most of us simply grit our teeth and press on. No, I’m never ever going to buy that silly spray to cover up the smell of your poo, but go ahead, play the damned video ad… again. I digress.
But what if there was a way to change the dynamic so that the SM platform user’s attention was no longer the product that got sold to monetize the operation? What if the user could sell his or her OWN attention, and be rewarded thusly? And what if there was a way to compensate developers and businesses who work in the ecosystem for this activity as well?
What if the user actually became a rewarded participant in the engine that generated income? And was even able to generate income for themselves in the process? What if a system was designed to reward users, developers and investors, all at the same time?
This is the basic premise of Kin.
THE GENESIS of KIN
In 2009, Kik Interactive was formed by a group of college students at the University of Waterloo, Canada, in order to create applications for mobile devices and smartphones. Soon thereafter, the Kik Messenger was launched. In it’s first fifteen days, Kik enrolled over one million users. Over the years, Kik has solidified itself as a strong niche player in the messaging app world. Initially, Kik monetized itself by placing advertisements, but realized over time that ad revenue might not be the best way to keep Kik in solvent.
After several years of struggle, Kik embarked on an experiment and instituted a program called “Kik Points.” This program allowed Kik users to participate in a very basic and limited “earn and spend” program. The users would answer surveys, or watch videos, in order to “earn” Kik Points… which they could then spend on in-app programs like sticker packs or emojis. What the Kik folks saw was a very enthusiastic, large group of people working to earn, and then spend Kik Points, in a transactional rate and density that dwarfs that of every cryptocurrency, including Bitcoin.
Kik then knew it was onto something. The team got to work, and after years of design, Kin was born. The Kin token was introduced into the crypto universe through an ICO (initial coin offering).
The Basics of Kin
Kin is the first cryptocurrency designed for mass-adoption and utility. It was engineered, specifically, to act as a currency to be used in millions of daily small and micro-transactions. In other words, it was a coin designed to be “spent” by the masses, not held by speculators.
Kin is designed to reward people for using the coin. The Kin Rewards Engine (KRE) pays Kin to users and developers who contribute to the ecosystem. This does “infl