ARBIT-Market-Making-1512000


#1

Proposal Name: ARBIT-Market-Making-1512000
Owner: Arbit
Cost: 4330 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)
  3. March 2020 our total trade volume was $83,115 USD equivalent. (Using 2020-04-14 spot prices)
  4. April 2020 our total trade volume was $104,334.23 USD equivalent. (Using 2020-05-13 spot prices)
  5. May 2020 our total trade volume was $ 73,803.91 USD equivalent. (Using 2020-06-17 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. Our goal is to increase liquidity and trading volume of BLOCKNET across both Centralized Exchanges and BLOCKDX totalling 8 order books:

Continue Market Making on:

  1. Bittrex BTC-BLOCK (https://global.bittrex.com/Market/Index?MarketName=BTC-BLOCK )
  2. Digifinex BLOCK/BTC (https://www.digifinex.com/en-ww/trade/BTC/BLOCK)
  3. BlockDX LTC/BLOCK
  4. BlockDX BLOCK/BTC
  5. BlockDX LTC/BTC
  6. BlockDX DASH/BLOCK
  7. BlockDX DASH/LTC
  8. 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 : 2020-05-12 12:31:02 through 2020-06-16 17:20:12

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

BLOCKDX :

total_volume_base_currency
BLOCK/BTC: 1465.05633
BLOCK/DGB: 0.00000
DASH/BLOCK: 0.50000
DASH/LTC: 0.00000
LTC/BLOCK: 331.27122
LTC/BTC: 0.00000

total_volume_quote_currency
BLOCK/BTC: 0.20547322
BLOCK/DGB: 0.00000000
DASH/BLOCK: 30.28009000
DASH/LTC: 0.00000000
LTC/BLOCK: 11993.08276259
LTC/BTC: 0.00000000

Bittrex and Digifinex :

total_volume_base_currency
BLOCK/BTC: 46307.781

total_volume_quote_currency
BLOCK/BTC: 6.1662835

2. Trade counts by trading pair

BLOCKDX :

trade_counts_by_pair
BLOCK/BTC: 6
BLOCK/DGB: 0
DASH/BLOCK: 2
DASH/LTC: 0
LTC/BLOCK: 103
LTC/BTC: 0

Bittrex and Digifinex:

trade_counts_by_pair
BLOCK/BTC: 386

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

blockdx: 111
bittrex: 324
digifinex: 62

4. Error counts on BlockDX

5

BLOCKNET address for deposit :

BZvcgfhGazLpYXN8Nag2RkH124T9Wmic2P