ARBIT-Market-Making-1382400


#1

Proposal Name: ARBIT-Market-Making-1382400
Owner: Arbit
Cost: 6500 BLOCK
Voting: Vote via the Proposal screen in the wallet

Previous Work:
ARBIT Corporation is a Canadian market maker in business since 2015 that has provided $220 Million of trading volume across 9 ALTCOINS to date. We have been providing services to the BLOCKNET community since 2016. We became an early investor in BLOCKNET and have a vested interest in the success and usage of BLOCKNET. We are most excited about the potential of BLOCKDX and are eager to increase liquidity and trade volume on the major cryptocurrency tokens on the BLOCKDX platform.

  1. January 2020 our total trade volume was $21,497 USD equivalent. (Using 2020-02-01 spot prices)
  2. February 2020 our total trade volume was $32,659 USD equivalent. (Using 2020-03-17 spot prices)

Overview :
To provide robotic API 24/7 market making services with human supervision and up to $100,000 of our own capital consisting of BLOCKNET, BTC, LTC, DASH, DGB and USDT. Our goal is to increase liquidity and trading volume of BLOCKNET across both Centralized Exchanges and BLOCKDX totalling 9 order books:

Continue Market Making on:

  1. Bittrex BTC-BLOCK (https://global.bittrex.com/Market/Index?MarketName=BTC-BLOCK )
  2. Digifinex BLOCK/USDT (https://www.digifinex.com/en-ww/trade/USDT/BLOCK)
  3. Digifinex BLOCK/BTC (https://www.digifinex.com/en-ww/trade/BTC/BLOCK)
  4. BlockDX LTC/BLOCK
  5. BlockDX BLOCK/BTC
  6. BlockDX LTC/BTC
  7. BlockDX DASH/BLOCK
  8. BlockDX DASH/LTC
  9. BlockDX DGB/BLOCK

Capital Requirements :
ARBIT will devote a minimum of $20,000 of capital to keep orders up 24/7 across all order books above. The BLOCK cost we are asking for above would cover both human resources to monitor market making as well as any losses incurred to maintain reasonable spreads of 5% or less.

Deliverable for Reporting Period: 2020-02-08 17:18:53 through 2020-03-12 20:21:56

1. Trade volume by trading pair (base and quote currency)

BLOCKDX:

total_volume_base_currency
BLOCK/BTC 1384.57229
BLOCK/DGB 4.70595
DASH/BLOCK 2.50000
DASH/LTC 0.60000
LTC/BLOCK 280.62524
LTC/BTC 1.50000

total_volume_quote_currency
BLOCK/BTC 0.28358087
BLOCK/DGB 1370.00000001
DASH/BLOCK 142.41599700
DASH/LTC 0.89708800
LTC/BLOCK 10503.99284468
LTC/BTC 0.01049600

Bittrex and Digifinex:

total_volume_base_currency
BLOCK/BTC 18926.586
BLOCK/USDT 2475.090

total_volume_quote_currency
BLOCK/BTC 3.6690015
BLOCK/USDT 3002.5079071

2. Trade counts by trading pair

BLOCKDX:

trade_counts_by_pair
BLOCK/BTC 34
BLOCK/DGB 1
DASH/BLOCK 9
DASH/LTC 6
LTC/BLOCK 484
LTC/BTC 6

Bittrex and Digifinex:

trade_counts_by_pair
BLOCK/BTC 504
BLOCK/USDT 83

3. Total trade counts by exchange (currently: blockdx, bittrex, digifinex)

bittrex 440
digifinex 147
blockdx 540

4. Error counts on BlockDX

19

BLOCKNET address for deposit:
BZvcgfhGazLpYXN8Nag2RkH124T9Wmic2P