Adjustments on Mining Parameters



  • 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

    1. Encourage users to place orders on trading pairs that are less attractive for in market-making as mining to help with order book depth
    2. Encourage effective market depth by reducing current price gap
    3. 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:

    1. There will be a more even distribution in market-making as mining activities across all trading pairs.
    2. 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%

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