Say Hello to Butler — Our Market Maker Software
What’s the benefit to run Butler and how to do it
We’ve just released our Automated Market Making software which enables everyone to provide liquidity and earn from the spreads.
Let’s start with the most important part because time is money and you can now earn more by becoming a liquidity provider.
We like to think of Butler as innovative blockchain OTC Market Maker because of the following reasons:
- The software allows EVERYONE to provide liquidity
- The liquidity provider determines and offers his/her own price
- Butler supports automatic order matching, withdraws, refunds, portfolio rebalancing, email, and Slack notifications.
- Butler eliminates the need to lock your funds. Instead, the funds are used directly from your wallet only on demand.
- The one thing you need to do is to set up your liquidity provider node (we will offer you help if needed)
Let’s go into the details.
But what exactly is Butler?
Butler is an automated market making software that is used for liquidity provision to JellySwap protocol. Everyone can run Butler instance on his/her own machine and start earning interest from market spreads. At the same time, Butler will take care to keep operator’s portfolio balanced and to earn profit from the configured swap spreads.
What are the incentives to participate?
As you already know JellySwap is a p2p permissionless cross-chain swap protocol for instant liquidity. Everyone can participate, provide liquidity, and execute swaps via HTLC contracts. There are many reasons and incentives for the JellySwap protocol participants.
One of them is the cross-chain nature of our dApp which aims to bring more blockchains to DeFi. Can you imagine multichain Uniswap with much more liquidity, many different blockchains, much more trading opportunities, a brand new cross-chain trading financial system — trustless, secure and decentralized. But even better than Uniswap because with Butler you do not have to lock your funds in Ethereum smart contract. Instead, the funds are used directly from your wallet only on demand.
Another good reason is that you can set your own price. Buttler is much more flexible than other similar softwares because every liquidity provider can determine and offer his/her own price. As a result, the final rate for the different markets can be better for the end-user.
How to run Butler?
You need to set up your liquidity provider node. Sounds difficult but it’s not! Don’t worry, we’ve put together a detailed guide on how to do it. You have to options — by using Docker or doing it manually. It is easy in both ways. Just follow this guide — https://jellyswap.gitbook.io/butler/
If you encounter any problem, do not hesitate to contact us. We will be more than happy to help you and even have a call to guide you F2F. Please contact Tito Titov or Krasimir Raykov. Or you can also write in our Telegram and Discord channels.
If the setup is successful, you will be able to see your address here https://stats.jelly.market/providers . Follow this website for real-time stats.
Butler Documentation and source code
https://jellyswap.gitbook.io/butler/
https://jellyswap.gitbook.io/liquidity/
https://github.com/jelly-swap/jelly-butler-beta
For more information about Jelly:
Landing page: https://jelly.market/
App: https://app.jelly.market/swap
Whitepaper: https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf
Github: https://github.com/jelly-swap
Twitter: https://twitter.com/jelly_swap
Telegram: https://t.me/jelly_swap
