FCoin is an exchange by community and for community. I have written few articles, listed below in this post, covering their tokenomics for FCoin.

One of the key feature is "Trade to Mine". Following are the types of trading related mining that are offered by FCoin

Trading as Mining
Limit-order Mining
Sorting Mining

Trading as Mining

When your trades are executed on the exchange then trading fee charged to you is return to you as FT token. Details can be found in Implementation Plan on FCoin Sustainable Mining and Revenue Distribution Adjustment

Limit Mining

Place limit order to mine FT tokens. This is to motivate users to set limit orders and enhance the currencies trading depth on FCoin. The details can be found in FCoin Community Committee has passed FCoin Limit-order Mining (Trial Run) Proposal

Sorting Mining

Place limit orders that fall close to trading zone to mine FT token. The sorting mining is called “Limit-order Sorting Mining”, which is abbreviated as Sorting Mining in order to distinguish it from the existing “Limit-order Mining”. The details can be found in FCoin Community Committee approved the proposal of Sorting Mining Rules (trial)

The objective of all three minings is to help increase the liquidity on the exchange and reward those traders and market makers who help in that.

Market making and auto trading is a common practice and exchanges provide API access to their platform. FCoin provides a very user friendly API that one can use to interact with the exchange through programs.

AutoTrading or MarketMaker Bot

Using FCoin API and python - I have coded a bot CryptoTrader. The bot is currently hosted on Algorithmia. The bot is in private mode. One needs to open an account on Algorithmia and then use the bot as described below through AWS Lambda or by any other way user wants to access.

Scope of the Bot

My analysis suggests that buy and exit is a good strategy in crypto market and more so when for next two years we are expecting bull run to continue -Crypto Assets Price Prediction Using AI : Buy or Hold or Exit. The returns volatility reduces further by trading multiple assets. Therefore, In the program I have implemented a simple SMA based buy and exit trading strategy for 14 trading markets on FCoin. The trading markets are :

MarketNames = ['BTC/USDT', 'ETH/USDT', 'EOS/USDT', 'XRP/USDT', 'LTC/USDT', 'BCH/USDT', 'ETC/USDT', 'XLM/USDT', 'BSV/USDT', 'IOTA/USDT', 'ZEC/USDT', 'ADA/USDT', 'DASH/USDT', 'FT/USDT']

The price used to place the order is the mid point of current bid/ask in the market. This makes sure that

If trade is executed then it is executed at fair price enabling to earn more Trading Mining Rewards
It is a Limit order - so enables to earn limit mining rewards
It is close to trading price - so enables to earn sorting mining rewards

How to use the bot

In addition to hosting the tradebot on Algorithmia - I have enabled its triggering through AWS Lambda Function. The code for that is given below:

def lambda_handler(event, context):
    print(event)
    fcoinexchange = ["Exchange API Key", "Exchange API Secret", "CoinMarketCap API Key", "CoinMarketCap API Secret"]
        # open account on FCoin exchange, get API keys
        # open account on CoinMarketCap, get keys
    INPUTKEYS = [fcoinexchange, fcoinexchange , fcoinexchange , fcoinexchange ]
    success = 0
    while success == 0:
        rslt1,rslt2=apply(INPUTKEYS)
        print(rslt1)
        print(rslt2)
        success = 1

def apply(INPUTKEYS):
    client = Algorithmia.client("Algorithmia API Key") # Create your account on Algorithmia, Get key, and put here
    algo = client.algo('ptyagi/CryptoTrader/0.1.3')
    rslt1,rslt2=algo.pipe(INPUTKEYS).result
    return rslt1, rslt2

The users can create an aws lambda function, using above code, in their aws account and then can trigger the function through CloudWatch Event according to the time interval like every 1 minute, 1 hr, 1 day etc.

Contributed by our CEO @prameshtyagi

FToken Mining using AutoTrading or MarketMaker Bot