Engine - Update and Tribe Notification

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First things first. I'm really happy to share that in the last 24hrs we've done almost $80k of volume on just the steem/hive pairs. Some people think that we're incapable of moving large amounts of volume. Here I say, "nope, you're wrong." To everyone trading on the exchanges thanks for using them.

Product notice: market making smart contracts

Hopefully by the end of the month we'll launch Market Making smart contracts. A market maker is a tool or person or trades on both sides of the pair. How do they make money doing that? easy, you just leave a spread between your buy price and your sell price. When orders come in you put them on the other side. So, if you sell, you relist as a buy, and if you buy you relist as a sell. You make money on the spread and based on how much volume your market making activity is doing.

The risk is when there are giant price moves on your trading pair because unless the bot has setting to stop trading you may end up with only 1 crypto if customers are only interested in trading one side of the pair you're offereing.

Anyway, there are some risks, but there's also tons of potential for making money (mostly) passively by letting a smart contract trade for you 24/7.

There are additional updates coming on this front, so stay tuned this month!

ENGINE COSTS

This is the first month that your hosting fees are due. There is a $50 charge for hosting nitrous. Here are the ways you can handle that.

  1. You can move the hosting to self hosting, and then it's free.
  2. You can pay us $50. On hive engine the account is @ hive-engine and on steem engine the account is @steem-eng. You can pay in steem, hive, or pegged steem or hive.
  3. You can stake BEE on hive engine or ENG on steem engine. You need 1 Bee/Hive per user up to a max of 5000. If you meet this requirement hosting is free.
  4. We can take down your Nitrous.

If you have questions feel free to contact me in discord

More things are coming!

We've better organized our support, we're adding features, more stuff related to NFTs are on the way, and we're generally building. The extra volume helps as there's a little more money to encourage faster development and support. Thanks for your business and trust and I'm looking forward to providing you more products and services to engage on the platform.

Lastly apologies,

This is the third time I'm trying to post this. If for some reason it's a duplicate then I'll burn the rewards.



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5 comments
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Market making smart contracts seems like a big deal for traders. I’m surprised no one commented on this.

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I have been market making manually for a few weeks now. Automating the process is definitely huge for me.

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Same here. It's a bit of a pain. I'm looking forward to this.

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