Hi all! This looks like a great proposal!
I think if this is going to be funded by xGov for the community, then the community would also stand to benefit a great deal more if this was also built for Pact at the same time, given Pact is the #1 AMM by TVL on Algorand.
Including Pact in this proposal stands to benefit the entire ecosystem a great deal more given Pact’s position as an AMM in Algorand and the liquidity available.
@tinchosig Just short question… can you provide some example of trading bot you have done? There is quite huge fight in algorand arbitrage ecosystem, so I wonder if you can make at least some money there, or is it for you just to attempt to code something and get 320k algo?
My understanding is that it is much easier to create arbitrage smart contract and tell people to add it to the end of their swaps. This would benefit ecosystem much more than single arbitrager.
Hi @scholtz !
Just to clarify, I represent CoinAlpha, we are the creators of the one of the most popular open source trading bots our there: Hummingbot ,used by over 20k individual traders.
This proposal is to build a connector for that open source bot client, so anyone will be able to use it to run the arbitrage strategies or cross exchange market making that the bot has built in, or even write their own strategies.
Hi @Choppa , building a Pact connector would be great. However, the grant requested would not cover both the costs of a Humble and Pact build. That said, once the Humble connector is in place, we should be able to “re-use” part of the code, thus allowing us to ask for a second grand with a lower amount.
Thanks Martin! I really appreciate the reply.
Respectfully though, the community stands to benefit far more by being connected to the AMM with 10m+ TVL versus the AMM with 700k TVL. Given that these funds are essentially the communities, from an efficiency standpoint it seems like connecting the larger AMM first would be more beneficial and cost effective way to allocate those funds.
Why dont you plan to do right away connector with Deflex or other method to get the best price from algorand DeFi ? The best price might not be always just one pool, but is most likely the combination of pools…
When I go to Vestige and i ask to swap USDC to Algo, this is the best route:
There are already arbitrage bots running on all DEXes (onchain exclusively or chain vs CEXs) whom already keep prices fairly in line across pools and markets globally. Since it is a zero sum game and several actors are already well implemented, you should not expect large inflows from arbitrage.
Andrew from Humble here. The beauty of xGovs is anyone can submit a proposal. Maybe it would be best for pact to make beneficial partnerships in the ecosystem and submit their own proposals. While Humble TVL may not have as much as some of our competitors, one of our value adds is meaningful partnerships like the one with CoinAlpha. The depths of the bear market is the time to build.
As Martin mentioned, an integration like this makes it much easier for other DEXs to integrate and benefit as well, which is good for the overall community. I know as a competitor you are looking out for Pact, but next time submit a proposal, we’d love to see access across the community. I can even help get you in touch with their team
Can you agree that if next round will Martin implements DEX aggregator, the current code from this round will be obsolete? Why not directly implement solution which would be beneficial to the hummingbot users, to all dexes and all liquidity providers at whole algo ecosystem?