Market Making DXD on Loopring

Hi DXDAO Community,

As of yesterday I have set up a market making bot on Loopring DEX that will give traders 24/7 access to decent two-way liquidity (maybe some downtime while optimising the bot). I only discovered DXDAO when I saw the listing on Loopring DEX and I am still learning about what it is, but I am fascinated. From what I can see I am the first algo market maker trading DXD-ETH. My background and skillsets are in trading so I think it’s the only way I can get involved with the DAO. I would be interested in seeing if the community think something like what I am doing is worthy of gaining reputation? This is a feeler post to gauge if I should create a proposal with some market making liquidity requirements I will abide to for a set duration in exchange for reputation. Feedback is much appreciated. Thanks.

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Market making and liquidty increases are very valuable however, you will have to prove the DXDAO that you can do it - possibly through references and nominal numbers. It also depends on how much capital is needed from treasury etc. Any thoughts?

Hey icocountdown,

I can prove the trading I have done to date no problem (Although I would like to keep my trading address private if possible). I was actually thinking to wait until towards the end of June so I would have more data to share and it would give me a bit more time to iron out the creases in the market making strategy. Most of the liquidity on loopring since inception has been down to my market making (Even just take a look right now and you can see the book looks liquid). I have already taken a sizeable position in DXD as a result of this so I wouldn’t be asking for capital from the DAO at this stage, just reputation, but maybe in the future I would if I felt like it was required for me to continue market making DXD.

What sort of reputation amount would be appropriate to ask for if the DAO was confident I could satisfactory carry out the activity? Would the REP be given after the fact or before?

REP is given on a proposal so you can see here. Here are active proposals: https://alchemy.daostack.io/dao/0x519b70055af55a007110b4ff99b0ea33071c720a/scheme/0x28d5c82734905e9708c4d1332ba6d4753ac04836a4fcf4c5451c2dc5d5d76237/proposals

Here are proposals that are failed or passed:

If you have taken a sizeable position I’m sure someone can help along with the partnership that loopring and DXDAO has already. Personally our company asked for 0.24% REP for continuous marketing you have to judge it on other proposals too that you can see here:

.24% REP for Supporting Dxdao Marketing Efforts

Again if you are in a sizable position it is in your interest to gain REP as you need to forward the organization. Are you currently in the telegram channels?