Topic: MMNXT - market making and arbitrage fund for NXT AE. (Read 160185 times)

coinomat · October 14, 2014, 02:36:14 pm

Asset ID: 979292558519844732
Quantity: 50'000'000 Asset Decimals: 0

This is an automated trading fund for NXT asset exchange. Its goal is to provide market making for most liquid AE assets. Also we strive to move most of NXT trading to NXT AE Multigateway assets, thus providing additional liquidity for NXT which should assist in keeping its price more stable. Trading will be carried out at NXT Asset Exchange and other exchanges supporting NXT.

Trading is both long and short, that is you buy lower to sell higher and you sell higher to buy back lower. The profit is converted to NXT, also when trading MGW assets profit can also be realized in corresponding crypto, and converted to NXT afterwards.

There's 50 mil MMNXT shares. IPO will be carried out based on current projected monthly 10% profit, that means that initially around 2 mil shares at 1 NXT each will be sold. The fund will payout 60% of the profit, dividend payments will be made weekly on Fridays. The fund statistics will be published daily in this thread and at a special website mmnxt.com (not live yet).

Roadmap for the fund development:

October - November 2014:

NXT AE market making for the most liquid assets. MGW cryptocurrency assets Market Making (we also participate in MGW servers maintenance )

November 2014:

Arbitrage trading for BTER, Poloniex, Cryptsy.

We plan to trade on InstantDEX as soon as it's live.

We also run Bitcoin trading bots privately, they can be included in the fund portfolio in future based on its performance.

We believe that fund will be both profitable for shareholders and beneficial for NXT as a community, since it's based on the NXT most valuable asset - NXT Asset Exchange.

Cryptographer · October 14, 2014, 07:25:03 pm

Mmmmmm.... NXT... I like it

coinomat · October 14, 2014, 07:38:45 pm

The first dividend will be paid on next Friday, the profit stats will start being posted the day after tomorrow.

profitofthegods · October 14, 2014, 07:59:39 pm

Quote from: coinomat on October 14, 2014, 07:38:45 pm

The first dividend will be paid on next Friday, the profit stats will start being posted the day after tomorrow.

Looking forward to seeing how much we get, thanks.

Cryptographer · October 14, 2014, 08:41:39 pm

Hey coinomat, are you leaving the 40% of profit that isn't paid as dividend in the trading fund or taking it as profit?

Sebastien256 · October 14, 2014, 08:47:15 pm

There is 20M for sale right now. 2M or 20M?

coinomat · October 14, 2014, 09:01:36 pm

Yes we intend to keep 40% of the profit, I should pay the current coder and there are two other coders that I plan to involve in this soon.

Quote from: Cryptographer on October 14, 2014, 08:41:39 pm

Hey coinomat, are you leaving the 40% of profit that isn't paid as dividend in the trading fund or taking it as profit?

coinomat · October 14, 2014, 09:02:09 pm

You're right, fixed, sorry.

Quote from: Sebastien256 on October 14, 2014, 08:47:15 pm

There is 20M for sale right now. 2M or 20M?

Sebastien256 · October 14, 2014, 09:08:07 pm

What you plan to do with the 48M shares that is left?

coinomat · October 14, 2014, 09:24:14 pm

I will sell them as the volume at NXT AE grows and as we engage additional markets. Currently it doesn't make sense to use more than 1-2 mil NXT for NXT AE market making bot.

Quote from: Sebastien256 on October 14, 2014, 09:08:07 pm

What you plan to do with the 48M shares that is left?

Sebastien256 · October 14, 2014, 09:25:02 pm

Quote from: coinomat on October 14, 2014, 09:24:14 pm

I will sell them as the volume at NXT AE grows and as we engage additional markets. Currently it doesn't make sense to use more than 1-2 mil NXT for NXT AE market making bot.
Quote from: Sebastien256 on October 14, 2014, 09:08:07 pm
What you plan to do with the 48M shares that is left?

Thanks, this make sense. Are you going to add on CMC once your website is up?

Sebastien256 · October 14, 2014, 09:26:21 pm

Quote from: coinomat on October 14, 2014, 09:24:14 pm

I will sell them as the volume at NXT AE grows and as we engage additional markets. Currently it doesn't make sense to use more than 1-2 mil NXT for NXT AE market making bot.
Quote from: Sebastien256 on October 14, 2014, 09:08:07 pm
What you plan to do with the 48M shares that is left?

Will you sell in the bid or at market NAV?

Sebastien256 · October 15, 2014, 07:15:38 am

What is the bot Nxt address? I don't remember it. Could you add in the first post. TY
The fact that the bot address is public is very valuable.

EDIT: Sorry If I ask a lot of questions, It is just that I found your asset very interesting.

coinomat · October 15, 2014, 07:22:08 am

Let's see how it goes, if all goes well and there's a demand for the fund shares I sell them at current market rate. Naturally 2,000,000 which are for sale now will be sold for 1 NXT.
I must say that I plan to grow along with NXT AE. If the NXT AE volume does not grow fast enough I'll add other trading robots I have, maybe even Forex one. I've been developing it for over two years by now.

Quote from: Sebastien256 on October 14, 2014, 09:26:21 pm

Quote from: coinomat on October 14, 2014, 09:24:14 pm
I will sell them as the volume at NXT AE grows and as we engage additional markets. Currently it doesn't make sense to use more than 1-2 mil NXT for NXT AE market making bot.
Quote from: Sebastien256 on October 14, 2014, 09:08:07 pm
What you plan to do with the 48M shares that is left?

Will you sell in the bid or at market NAV?

coinomat · October 15, 2014, 07:28:52 am

Current bot address is: 7443835548273827915
There's also other bot activity there, which I actually have nothing against and on the contrary fully support. The more bots the better. But naturally we will compete with them, so I plan to have several trading accounts to confuse them a little

Also there are some things in NXT AE implementation which make using several accounts more reasonable.
If you follow the bot profitability through nxtreporting.com please pay attention to the fact that the bot also goes short, i.e sells higher and buys back lower (so you have the same amount of asset and a little more NXT after the pair is closed). I believe they don't count it as profit there.

Quote from: Sebastien256 on October 15, 2014, 07:15:38 am

What is the bot Nxt address? I don't remember it. Could you add in the first post. TY
The fact that the bot address is public is very valuable.

EDIT: Sorry If I ask a lot of questions, It is just that I found your asset very interesting.

cc001 · October 15, 2014, 08:04:33 am

Quote from: coinomat on October 15, 2014, 07:28:52 am

If you follow the bot profitability through nxtreporting.com please pay attention to the fact that the bot also goes short, i.e sells higher and buys back lower (so you have the same amount of asset and a little more NXT after the pair is closed). I believe they don't count it as profit there.

well, if you buy low, and sell high, the difference is counted as profit (or loss, if you buy high and sell low

).

coinomat · October 15, 2014, 08:32:45 am

Might be, I'm not 100% sure how they calculate this, but it's definitely not the exact number but some estimate.

Quote from: cc001 on October 15, 2014, 08:04:33 am

Quote from: coinomat on October 15, 2014, 07:28:52 am
If you follow the bot profitability through nxtreporting.com please pay attention to the fact that the bot also goes short, i.e sells higher and buys back lower (so you have the same amount of asset and a little more NXT after the pair is closed). I believe they don't count it as profit there.

well, if you buy low, and sell high, the difference is counted as profit (or loss, if you buy high and sell low ).

cc001 · October 15, 2014, 08:37:58 am

Quote from: coinomat on October 15, 2014, 08:32:45 am

Might be, I'm not 100% sure how they calculate this

But I am, check my signature

coinomat · October 15, 2014, 09:32:58 am

Wow sorry

I will definitely have questions for you.

Quote from: cc001 on October 15, 2014, 08:37:58 am

Quote from: coinomat on October 15, 2014, 08:32:45 am
Might be, I'm not 100% sure how they calculate this

But I am, check my signature

cc001 · October 15, 2014, 09:38:04 am

Quote from: coinomat on October 15, 2014, 09:32:58 am

Wow sorry I will definitely have questions for you.

sure, but maybe better here: https://nxtforum.org/index.php?topic=2175.0

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Author Topic: MMNXT - market making and arbitrage fund for NXT AE. (Read 160185 times)