We have open-sourced the code to our buyback trading bot for peer review.
https://github.com/JSEcoin/buyback
The trading bot was developed to add market liquidity and support price levels of the JSE token.
Current monthly buyback is set at 3 ETH and reassessed on a monthly basis.
Our aim is to stabilize and gradually increase the token value against ETH/USD pairs.
Methodology:
- Bot operates at a random interval between 0 and 60 mins.
- Market data is extracted from exchanges.
- Bid price calculated adding liquidity to exchange.
- Limit order placed.
JSE tokens purchased on exchange are withdrawn back to the distribution account.
The code base is modular so more exchanges can be added in the future and any users wishing to use the code for their own purchases or market making should be able to modify it with relative ease.
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Interesting, will definitely try this!
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