STEEM-SBD Market Making Bot Report date 2024.12.27 by @roadofrich

in news •  7 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
12/27/202450ab69b202630d4c9e4917c9cbbb8604c1f8e9e9f6
12/26/202450ce5a143c47c23628665a007e55b3edaa13accdc4
12/26/2024503de44c5cc10183ead84062a4b884acff2f5194bd
12/26/20245055f51c184a2cf517688116cd3e1b27c1e1b057ba
12/26/202450dbb2c64f55803bd29e190de128ca0abaf1b13088
12/26/202450deb64eb18ba15a72b24325f6604e09a9f4906787
12/26/202450c068b0e9c2356159972ddcc93fd2dd3b93b89e9d

The total daily transfer amount currently stands at 350 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 - USDT0.2091000 $
BTC - USDT95323.990 $
ETH - USDT3338.2300 $
BNB - USDT693.85000 $

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

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