STEEM-SBD Market Making Bot Report date 2024.09.16 by @roadofrich
Introduction to STEEM-SBD Market Making Bot
The STEEM-SBD MM bot is an innovative market making bot service tailored specifically for Steemit users.
Steemit, a popular blockchain-based social media platform, hosts its own internal market for trading Steem Backed Dollars (SBD). However, SBD can only be traded on Korea's Upbit exchange besides the Steemit internal market. Unfortunately, Upbit is accessible only to Korean users, leaving a significant portion of Steemit users unable to access it.
Consequently, the price of SBD in Steemit's internal market often trades at a considerable discount compared to Upbit's market price. This discrepancy results in Steemit users consistently incurring losses when swapping SBD for STEEM.
To address this issue, the Witness @roadofrich (Blokfield) team has developed a sophisticated MM bot that bridges the gap between Upbit and Steemit internal markets. By utilizing this bot, users can exchange SBD for STEEM at a more favorable price, mitigating their losses.
Daily Steem Backed Dollar (SBD) Transfer Volume
The daily transfer volume of SBD serves as a crucial indicator for the MM bot's performance. Here's a snapshot of recent transfer data:
| Date | Transfer Amount | Transaction ID |
|---|---|---|
| 9/16/2024 | 50 | cd0a1bf3f76aee9ef008b21b8a2f2218f7daa9c6 |
| 9/16/2024 | 50 | 2fc564445fc989e09904aefcee8d9e86688409e6 |
| 9/15/2024 | 50 | 6d242e31aae26a999a50732ee68483e4ade13ff2 |
| 9/15/2024 | 50 | 07c1f8d615ed6e33c3c9ac5b12700a8c418bab2f |
| 9/15/2024 | 50 | f81688dd9030aa59674ee636fc3fa45f6715d18b |
The total daily transfer amount currently stands at 250 SBD,
Currently in the testing phase, the MM bot is poised for an official launch in the near future. Stay tuned for further updates on the bot's performance and development progress.
Current Market Prices
The following table displays the current market prices of various cryptocurrencies:
| Symbol | Price |
|---|---|
| STEEM - USDT | 0.1657000 $ |
| BTC - USDT | 58904.640 $ |
| ETH - USDT | 2310.4700 $ |
| BNB - USDT | 550.40000 $ |
Stay connected for more exciting developments in the world of Steemit and market making technology! 🚀
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