Proposal Name: ARBIT-Market-Making-v2-1339200
Owner: Arbit
Cost: 1,800 BLOCK
Voting: vote 917848e4bb862915a3617f63827e2130314c549da1925f80c8f54b48a1ce88f3 yes/no/abstain

Please Note: Updated to version 2 because of a mistake with the correct hash and cost.

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.

We began in April 2019 to add liquidity to BLOCK markets on Bittrex and Digifinex to total $446,442 USD equivalent of trading volume over 3,889 trades. In January 2020 our total trade volume was $21,497 USD equivalent .

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 (
  2. Digifinex BLOCK/USDT (
  3. Digifinex BLOCK/BTC (
  4. BlockDX LTC/BLOCK
  5. BlockDX BLOCK/BTC
  6. BlockDX LTC/BTC
  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 :
ARBIT will provide a monthly report which will consist of:

  1. Trade volume by trading pair (base and quote currency)
  2. Trade counts by trading pair
  3. Total trade counts by exchange (currently: blockdx, bittrex, digifinex)
  4. Error counts on BlockDX

BLOCKNET address for deposit :