Sorry but the title and post statement is totally wrong. I have a market maker bot on dec/swap.hive for almost a half year and my profits went down significantly after the market maker by hive engine/dswap team was released.
You mislead people with 50% gains from it because it is impossible with market maker on such shalow market like hive engine is. The more bots the lower income, and I can say it from my perspective as active market maker for months. The more market makers are started by people the least profit will it bring for single person. Sad but true on small markets.
You didnt also say from which market cryptomancer had the 50% gain, but it is important to know that price changes affect higly the income. It is high risk when market making pairs that can go only one way. Dec is pretty good token for mm because of almost sinusoidal price change (always 0.2-0.8, always chance for rebound).
I mean, he's got a 50% increase. That's not misleading. This bot can be extremely successful. I'm not sure of the logic of your bot or strategy so I can't share anything about that.
I'm trying not to steal all of his thunder as he's running on multiple markets and he's planning to post what's happened. it's a single data point, but a damn good one.
Can match that up with Neal's post earlier of a 37% annualized return. Obviously not everyone is getting the same results, but I think as people get a better grip on how to use these effetively that there's a crap ton of potential in them.
When teh market taking side is implemented onto hive-engine and some of the sites that use it so taht you can spend whatever token you want and it gets converted into swap.hive for the purpose of the backend of the site then I think things really start ramping up. Should be fun to watch.
So you mean gain from previous results, but this doesnt say much and is very misleading.
there's a crap ton of potential in themThere is 0 potential in them because hive engine market is too small, there is only place for few makers. Even when I was competing against only 1 other bot I needed to change strategies and polish the algorithm. And even that I was using biggest pair dec wasnt enough.
In the end it doesnt matter what strategy I have or other bots have. It comes down to spread, and prices fluctuations and depth of the market which is really really small. Actually market making can end tragicly for people who dont know what they do.
Even in the deep markets like uniswap people lose money when providing liquidity because they dont understand the math and what imparment loss is.
If we want to make deeper market on HE simply by using more and more market makers it will end very badly because in the end always somebody must lose.
However this could be fun for bots war :) I can change my code very fast and try to outplay market makers by dswap :) Can dswap do it too?
!ENGAGE 50
ENGAGEtokens.If I had time and if it would be worth the effort I am 100% sure that I could earn at the cost of the market marker bots. Your strategy is not open, so that is much more difficult to beat. Their strategy, however, is completely transparent, so I know what they are going to do next - this cannot work unless the profits to be made from this are too small to invest the time that is needed.