Market Making...... Market Makers.... These are terms that have been butchered by so many inexperienced or scammy exchange owners that the terms themselves bring a negative connotation with them now.
When you say you are working with MMs, do you mean real MMs? Because they will run you a bill of a minimum of 10 BTC per month.
Then you have scammy MM services like the one they peddle at Exrates exchange which will cost you 0.25 BTC per month.
The difference is, the 10 BTC per month service uses most of that BTC in maintaining your books and keeping spreads super small. This creates a healthy trading environment and attracts bots and traders.
The cheap scammy MM service is without a doubt just fake volume along terrible spreads on the books. In these, the buy orders will be significantly lower than the sell orders so as to not lead real traders to think they can come in a make a quick sell.
The reason I ask you this is because I don't think it is in your budget to have a real MMs employed. You couldn't even afford a highly discounted press release..... lol.
Let's hope things have changed because the last thing we need is another exchange promising the world during their ICO and then delivering just another featureless, vulnerable exchange that realized the regulatory red tape they thought they could cut right through turned out to be impossible at this point in time.
Please tell me you don't fall into that category. Achem-LAToken-achooo.
When you say you are working with MMs, do you mean real MMs? Because they will run you a bill of a minimum of 10 BTC per month.
Then you have scammy MM services like the one they peddle at Exrates exchange which will cost you 0.25 BTC per month.
The difference is, the 10 BTC per month service uses most of that BTC in maintaining your books and keeping spreads super small. This creates a healthy trading environment and attracts bots and traders.
The cheap scammy MM service is without a doubt just fake volume along terrible spreads on the books. In these, the buy orders will be significantly lower than the sell orders so as to not lead real traders to think they can come in a make a quick sell.
The reason I ask you this is because I don't think it is in your budget to have a real MMs employed. You couldn't even afford a highly discounted press release..... lol.
Let's hope things have changed because the last thing we need is another exchange promising the world during their ICO and then delivering just another featureless, vulnerable exchange that realized the regulatory red tape they thought they could cut right through turned out to be impossible at this point in time.
Please tell me you don't fall into that category. Achem-LAToken-achooo.
Hello Chris,
Very good questions.
When I meant MM I meant LP, not these cheap bot faking volume
MM here are basically prime brokers. Jarvis needs to hold an account within them to get some leverage (from 5 to 100 depending on the markets) to be able to provide it to users. I do not speak about the exchange, but the broker side : user set funds into an escrow or state channel, it triggers a loan within our deposit in the LP, and they can trade leverage products, non delivrables. So you can trade Forex, CFDs, stocks, commodities and crypto by locking your assets.
In order to make this deposit you need money, and many companies are willing to loan you money.
But the real game changer would be a multi-sig wallet where the LP has one of the key (we wouldn't need to have a deposit within them then) or a state channel between the user and the LP. But LP are still not ready for that
For the exchange (delivrable) we will work with order books aggregators services which aggregates liquidity of other exchanges.
Regard the press release, we actually start releasing some
We had the budget but refused to spend it for PR or marketing at the moment.Regarding our promises, we will of course do our best to deliver the best. We did not start Jarvis to do another exchange.
Smart move. PR and marketing won't do shit in this market. Save it for when the product is finished
