STEEM-SBD Market Making Bot Report date 2024.12.21 by @roadofrich

in news •  2 days ago 

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:

DateTransfer AmountTransaction ID
12/20/202450ddce9372eb30449a6611bc00c54dc67f608796db
12/20/20245056a2e573a5630983221c7d4d0157256ff67ebe08
12/20/202450fccc8f85ea0bbf26513750806b8bb8c1695177d6
12/20/202450428b89d98d839fd66dc16c5d3c30f56f41cafe00
12/20/20245008a7698748d9dd28f301b1c6475c10a911fbcf1f
12/20/20245065147ca8bc7c87a9d5fcdcc38829d713de4319ca
12/20/2024508d3ddd6acf3f805fc9fd71a78416239521c547c1
12/20/2024503d1e02fe228af86e9703bf883e530adb1492485e

The total daily transfer amount currently stands at 400 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:

SymbolPrice
STEEM - USDT0.2103000 $
BTC - USDT99141.200 $
ETH - USDT3526.0600 $
BNB - USDT689.19000 $

Stay connected for more exciting developments in the world of Steemit and market making technology! 🚀

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