The BlackBot released

We’ve been testing the BlackBot over the past few weeks, and we’re now confident enough to release it to the community for further testing and deployment!

It’s finally time to release the BlackBot to the community. Those who don’t know what it’s all about can find out in our last article. The short version is that this is a tradebot that is designed to add liquidity to the Waves DEX. It places lots of sell orders at intervals on one side of the orderbook, and lots of buys going down. If a sell order is filled, the funds received are used to place a buy order, and vice versa. Visit https://github.com/pywaves to download it and find out more.

The idea is that whichever way the price moves, it will always be possible to trade without too much slippage — something that is important for Incent, and vital in bringing traders to the DEX rather than continuing to use centralised exchanges. We’d love to see members of the community running the bot to provide liquidity for INCNT-WAVES or INCNT-BTC, though you can use it for any pair of Waves tokens.

It’s important to state that the bot isn’t designed to push price in one direction (this is not Willy), but to provide orderbook depth and facilitate a healthy market. Additionally, it’s not specifically designed to generate revenues, though that is a side-effect of the market’s normal volatility. Over time, as price moves in the macro trend (hopefully upwards), you will end up with less of one currency and more of another. So, some of those who might want to run the BlackBot include:

• People who want to support the Incent ecosystem and facilitate trading and overall price increases
• People who want to support the Waves DEX and add liquidity to it for other assets
• Those who value two assets equally (e.g. WAVES and INCNT) and would like to make small profits by trading the fluctuations between them
• Those who want to sell INCNT on the way up but hedge by buying back on the downside
• People who just like playing with things

You can download the Python from Peter Black’s github, at https://github.com/pywaves

It’s all pretty straightforward to install and run. Just download the files, edit the config with your parameters (e.g. tranche size, spacing, position etc) and set it off. You can run it on a linux machine at home, though it might be easier to use a VPS. If you need any help, you should be able to find it on Slack.

Enjoy!