There is no amount of Marketing that can beat real volume on the exchange when fighting for the short attention span of the average crypto user.
That’s why I would like the community to brainstorm about integrated bots. In my eyes this is a development that could propel the volume of the exchange into the spotlights of the DEFI world.
I have used the cloudbot in the Nash League and I have the idea (judging by the communication on telegram and the volume generated) that the community has build up a great deal of expertise in using and developing bots/strategies.
What I also see is that less then a 100 people provide the majority of the volume. It would be great if we could find a way to lower the threshold of running a bot even further and attract a multitude of people to run a bot.
Let’s help the NASH team in the development of the bots! I’ll make a start:
Legal / General
Ideally you could have a pool of liquidity (otherwise passive money) that could be used to fuel 1 big company bot. In theory you can setup a DCA bot with deep pockets that would always end up in the money. But that would come close to a custodial solution, so maybe that 1 is not possible.
But what you can do is make a copy trading option. Setup a leaderboard with the historical returns and pick your favorite and copy the strategy into you own bot. you could incentivize people that participate in sharing of their strategy with some sort fee discount.
You could also follow tradingview traders?
Technical
On my request Dulaj implemented a order multiplier in the DCA bots. This is a nice feature since it makes the required price “bounce” after a drop smaller. It also comes with downsides (you need deeper pockets) but it is a nice feature to have.
A stop button that stops the bot in a breakeven position.
To restart a DCA bot after you added funds -> when price drops from let’s say 30000$ during the night. Your DCA Buy bot eats away and runs out of funds at 25000$ making the profit target stuck at 27500$. You wake up and you find that price is 23000$ You should be able to add funds in order to “unstuck” your bot and lower the profit target by buying cheaper BTC.
I you might have noticed: I like the DCA strategy. It is low risk and provides a lot of volume at all price levels. What I found is that the bot sometimes gets “stuck” due to large drops or spikes in price. I was thinking about “automatically cascading bots.” : when 1 bot gets stuck, the other bot starts and vica versa.
A really sweet feature would be automatic strategy switching for example:
- Turn off the BUY bots and turn on the SELL bots when the price dives below the 100MA.
- Follow the crowd
Possibilities are endless.
UI/UX
You could make a Rookie interface: How much do you want to invest? And what do you think the price will do? Go up? Down? Or range between to levels? And press start.
or make a DCA BTC buying bot: deposit 10000 dollars and DCA buy BTC during the dips automatically
And an advanced interface with a calculation sheet when setting up the bot. So you can see the implications of changing a setting.
Anyway, just a quick setup. I will add when I come up with more stuff.
Cheers.