So your proposal is to have one contracted liquidity provider, subject to community review on the quality and cost of service they provide? Maybe that is reasonable.
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So your proposal is to have one contracted liquidity provider, subject to community review on the quality and cost of service they provide? Maybe that is reasonable.
I would be willing to provide .001 spreads using the liquidity from the liquidity rewards, pegged to a realtime implied value of Steem Dollars, ie 1 USD.
If the goal is that simple, why not let the system do the market making by itself?
i think the goal is to distribute STEEM to market making oriented traders/organizations, which at the same time would create liquidity and vested interests from the financial sector.
Enabling a monopoly does not solve this, even if it is a non-profit one providing a public service and certainly not a profiteer who is not concerned about his effects on the community.
So your actions have gotten you more short term profits, but it seems the liquidity points will be revised to prevent such monopolistic profiteering: https://steemit.com/steem/@jl777/steemit-has-the-most-responsive-dev-team
Now if you are not willing to be a team player and help STEEM achieve its goals, then that is your choice, but I would suggest to look at the big picture. You could have kept a quarter, maybe more of the awards and let others win the majority and in general help STEEM achieve the distribution goals. Without vocal complaints by all the other market makers the system could have been maintained.
It is like the DAO hacker, if he limited himself to a couple million, maybe the hardfork wouldnt get the support it needs. Maybe you need to revise your algorithms to take the community reaction into account, instead of simply maximizing the short term profits in your wallet
Great! You've succeeded breaking my walls. Where are your 0 spread walls now?
Current median price is 3.28, please try to maintain the peg. I'm willing to donate 10K STEEM when you actually started doing that work (that said, if you've setup walls around the peg).
I will work on this today. It took a long time for steemd to sync but I think I can start testing an automated market maker today. Keep in mind I dont have the capital to break through large off-market walls