Adjustments on Mining Parameters
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Background
The purpose of market-making as mining on ViteX is to provide market depth for mining eligible trading pairs. Currently, in order to be considered for market-making as mining rewards, traders must submit orders within a 10% deviation. Since this was the standard that was applied to all trading pairs, it has led to a situation where certain trading pairs are favored over the others, resulting in low market depth for the less popular trading pairs.
Objectives
- Encourage users to place orders on trading pairs that are less attractive for in market-making as mining to help with order book depth
- Encourage effective market depth by reducing current price gap
- For cases where a user places both the best sell and buy offers, we will incorporate adding sell offers as market-making as mining later on
Adjustments
Expected Outcomes:
- There will be a more even distribution in market-making as mining activities across all trading pairs.
- Users will place buy orders closer to the best buy offer on trading pairs with adjusted mining ranges.
BTC Market
- ETH/BTC: Adjusted mining range to 5%
- GRIN/BTC: Adjusted mining range to 8%
ETH Market
- GRIN/ETH: Adjusted mining range to 8%
VITE Market
- GRIN/VITE: Adjusted mining range to 8%
USDT Market
- BTC/USDT: Adjusted mining range to 5%
- ETH/USDT: Adjusted mining range to 5%
