Great news, over the weekend we began beta testing market maker bot and so far the results have been fantastic. Market maker bot is being engineered to monitor a token market and, following your strategy, automate the creation of buy or sell orders that will keep the market healthy.
We are very excited to watch how token markets react to becoming more active and having more liquidity on the books by various trading bots in operation. From what we have witnessed so far, it has been extremely positive with volume increasing and several token markets attracting more traders.
Why automate market making?
Market making is a crypto trading strategy we have always recommended as being profitable when executed correctly. Here is an article we published over a year ago that outlines our thoughts on market making perfectly:
If you are a project leader or token holder, I would really recommend having a look at your project's order book. And then ask yourself if it looks healthy - if you would enter its market? Because you want your order book to look attractive for traders. With many of Saturn's markets being so young, a healthy order book with liquidity can really only result in a bullish price trend if the project's development team are putting up results.
Overall the increased trading has been great for Saturn DAO as it has reflected in more participants entering our on-going Saturn HODL programs!
Saturn HODL Status
Remember our on-going HODL session is supply limited, and gives you access to 10% or 25% bonus plans on Ethereum or Ethereum Classic. It is allowing us to distribute Saturn DAO ownership and continue developing innovating tools to use on our platform which market making bot is a part of.
Why are crypto trading bots important?
If you need a little refresher on why we believe easily accessible crypto trading bots are an integral part of Saturn's future growth & important for a decentralized exchange, here is a little snippet from our original whitepaper:
We fundamentally believe that in an unregulated market that works 24/7 the best path towards price stability is widespread use of trading algorithms that exhibit market inefficiencies. Our goal is to make it easy to implement such bots for those who have the knowledge of how markets operate, as well as for those who know how to code and want to get into programmatic cryptocurrency trading. To that end we want to foster a community that will exchange knowledge and share best practices with each other.
And in that spirit, Neuron has published a deep dive into the logic behind Pricewatch Bot, breaking down the source code to explain what is going on.