Custom Bitshares blockchain airdrop spotlight #006 - Airdropping onto DEX market participants!

Airdropping onto UIA & MPA limit order participants

Have you ever considered airdropping a Bitshares asset onto hundreds or thousands of currently active DEX accounts?

Then perhaps you should consider creating a custom airdrop directly onto said active participants of your chosen markets of choice!

Benefits of airdropping onto active DEX accounts:

• Rewarding DEX participation could improve overall DEX activity
• Greater DEX participation improves liquidity
• Active accounts are more likely to notice and react to airdrops compared to dormant cold storage accounts
• They're perhaps more likely to trade the airdropped asset on the DEX if they're an active DEX participant
• Greater likelihood of the account creating lock tokens in response to airdrops

So let's get into the code!

To use this, just configure the inputs for your preferred market trading pairs, then run the command node ./getMarketParticipants.js, this will produce the file ./airdrops/marketParticipants.json for use in the Bitshares BEET airdrop tool!

If the market trading pair is the base trading pair for a smartcoin it'll use the CER as a central value, where as if it's not it'll use the average between the top bid and lowest ask in the value calculation.

Check out the code on github!

/* eslint-disable max-len */
const fs = require('fs').promises;
const { humanReadableFloat } = require('./lib/common');

// CONFIGURE THE FOLLOWING:

const inputs = [
  { base: "BTS", quote: "XBTSX.USDT" },
  { base: "BTS", quote: "USD" },
  { base: "BTS", quote: "GDEX.USDT" },
  { base: "BTS", quote: "HONEST.USD" },
  { base: "BTS", quote: "HERTZ" },
  { base: "BTS", quote: "CNY" },
  { base: "BTS", quote: "CNY1.0" },
  { base: "BTS", quote: "USD1.0" },
  { base: "BTS", quote: "EUR" },
  { base: "BTS", quote: "EUR1.0" },
  { base: "BTS", quote: "BTC1.0" },
  { base: "BTS", quote: "JPY" },
  { base: "BTS", quote: "GBP" },
  { base: "BTS", quote: "ARS" },
  { base: "BTS", quote: "AUD" },
  { base: "BTS", quote: "CAD" },
  { base: "BTS", quote: "SILVER" },
  { base: "BTS", quote: "GOLD" },
  { base: "BTS", quote: "BTC" },
  { base: "BTS", quote: "TWENTIX" },
  { base: "BTS", quote: "HERO" },
  { base: "BTS", quote: "HONEST.GBP" },
  { base: "BTS", quote: "HONEST.EUR" },
  { base: "BTS", quote: "HONEST.USDSHORT" },
  { base: "BTS", quote: "HONEST.BTCSHORT" },
  { base: "BTS", quote: "HONEST.EOS" },
  { base: "BTS", quote: "HONEST.XRP" },
  { base: "BTS", quote: "HONEST.ADA" },
  { base: "BTS", quote: "HONEST.XAU" },
  { base: "BTS", quote: "HONEST.EOSSHORT" },
  { base: "BTS", quote: "HONEST.XMRSHORT" },
  { base: "BTS", quote: "HONEST.XRPSHORT" },
  { base: "BTS", quote: "HONEST.JPYSHORT" },
  { base: "BTS", quote: "HONEST.CNYSHORT" },
  { base: "BTS", quote: "HONEST.DOTSHORT" },
  { base: "BTS", quote: "HONEST.ETHSHORT" },
  { base: "BTS", quote: "URTHR" },
  { base: "BTS", quote: "SKULD" },
  { base: "BTS", quote: "VERTHANDI" }
];

// END CONFIGURATION

const writeToFile = async (fileName, data) => {
  console.log(`Writing to ${fileName}`);
  await fs.writeFile(fileName, JSON.stringify(data, null, 4));
};

/**
 * Retrieve a market's order book data & base/quote asset data
 * @param {String} baseSymbol
 * @param {String} quoteSymbol
 * @param {Number} limit
 * @returns {[Promise<Object>]}
 */
const getOrderBookData = async (baseSymbol, quoteSymbol, limit) => {
  await new Promise((resolve) => {
    setTimeout(() => {
      resolve();
    }, 333);
  });
  let getBase;
  try {
    getBase = await fetch(`https://api.bitshares.ws/openexplorer/asset?asset_id=${baseSymbol}`);
  } catch (error) {
    console.log(error);
    return null;
  }

  const base = await getBase.json();

  let getQuote;
  try {
    getQuote = await fetch(`https://api.bitshares.ws/openexplorer/asset?asset_id=${quoteSymbol}`);
  } catch (error) {
    console.log(error);
    return null;
  }

  const quote = await getQuote.json();

  let getOrderBook;
  try {
    getOrderBook = await fetch(`https://api.bitshares.ws/openexplorer/order_book?base=${baseSymbol}&quote=${quoteSymbol}&limit=${limit}`);
  } catch (error) {
    console.log(error);
    return null;
  }

  const orderBook = await getOrderBook.json();

  return {
    base,
    quote,
    orderBook
  };
};

/**
 * process orders, return airdrop data
 * @param {Array} orders
 * @param {Number} basePrecision
 * @param {Float} avgPrice // also for CER
 * @returns {Array}
 */
const processOrders = (orders, basePrecision, avgPrice) => orders.map((order) => {
  const diff = Math.abs(
    parseFloat(parseFloat(order.price).toFixed(basePrecision)) - parseFloat(parseFloat(avgPrice).toFixed(basePrecision))
  );
  let calculatedValue;
  if (diff === 0) {
    calculatedValue = parseFloat(order.base);
  } else if (diff > 0.001 * avgPrice) {
    calculatedValue = (1 / diff) * parseFloat(order.base);
  } else {
    calculatedValue = (1 / (diff + humanReadableFloat((avgPrice * 0.001), basePrecision))) * parseFloat(order.base);
  }

  return {
    value: calculatedValue,
    id: order.owner_id,
    name: order.owner_name,
    qty: 1
  };
});

const getMarketParticipants = async () => {
  let multipleMergedOrders = [];
  for (let j = 0; j < inputs.length; j += 1) {
    const inputBaseSymbol = inputs[j].base;
    const inputQuoteSymbol = inputs[j].quote;

    let orderBookData;
    try {
      orderBookData = await getOrderBookData(inputBaseSymbol, inputQuoteSymbol, 300);
    } catch (error) {
      console.log(error);
      continue;
    }

    if (!orderBookData) {
      console.log("Query failure");
      continue;
    }

    const { base, quote, orderBook } = orderBookData;

    if (
      quote.bitasset_data_id
      && (quote.options.core_exchange_rate.base.asset_id === base.id || quote.options.core_exchange_rate.quote.asset_id === base.id)
    ) {
      console.log(`Processing smartcoin market: ${inputBaseSymbol}_${inputQuoteSymbol}`);

      // Market pair is a smartcoin market - use CER
      const baseCerValue = humanReadableFloat(
        quote.options.core_exchange_rate.base.amount,
        quote.precision
      );
      const quoteCerValue = humanReadableFloat(
        quote.options.core_exchange_rate.quote.amount,
        base.precision
      );
      const calculatedCer = quoteCerValue / baseCerValue; // USD/BTS == 20.79002079

      const mergedAsksBids = [...orderBook.bids, ...orderBook.asks];
      const mappedOrders = processOrders(mergedAsksBids, base.precision, calculatedCer);
      multipleMergedOrders = [...multipleMergedOrders, ...mappedOrders];
      continue;
    }

    console.log(`Processing UIA market: ${inputBaseSymbol}_${inputQuoteSymbol}`);
    // Use avg of the top bid & lowest ask instead of cer
    let mergedOrders = [];
    if (orderBook.bids.length && orderBook.asks.length) {
      const topBid = orderBook.bids[0];
      const lowestAsk = orderBook.asks[0];
      const avgPrice = (parseFloat(topBid.price) + parseFloat(lowestAsk.price)) / 2;

      const parsedBids = processOrders(orderBook.bids, base.precision, avgPrice ?? topBid.price);
      const parsedAsks = processOrders(orderBook.asks, base.precision, avgPrice ?? lowestAsk.price);

      mergedOrders = [...parsedBids, ...parsedAsks];
    } else if (orderBook.bids.length) {
      const topBid = orderBook.bids[0];
      const parsedBids = processOrders(orderBook.bids, base.precision, topBid.price);
      mergedOrders = [...parsedBids];
    } else if (orderBook.asks.length) {
      const lowestAsk = orderBook.asks[0];
      const parsedAsks = processOrders(orderBook.asks, base.precision, lowestAsk.price);
      mergedOrders = [...parsedAsks];
    } else {
      console.log(`No market orders found for ${inputBaseSymbol}_${inputQuoteSymbol}`);
      continue;
    }

    multipleMergedOrders = [...multipleMergedOrders, ...mergedOrders];
  }

  const finalResultValues = [];
  multipleMergedOrders.forEach((order) => {
    const existingUserIndex = finalResultValues.findIndex((user) => user.id === order.id);
    if (existingUserIndex !== -1) {
      const newValue = { ...finalResultValues[existingUserIndex] };
      newValue.value += order.value;
      newValue.qty += 1;
      finalResultValues[existingUserIndex] = newValue;
    } else {
      finalResultValues.push(order);
    }
  });

  await writeToFile(
    './airdrops/marketParticipants.json',
    finalResultValues.sort((a, b) => b.value - a.value)
  );

  // exit script
  process.exit(0);
};

getMarketParticipants();

Example output JSON

[
    {
        "value": 2000000.3724993228,
        "id": "1.2.1702168",
        "name": "darq-mono",
        "qty": 8
    },
    {
        "value": 757267.2299654367,
        "id": "1.2.33015",
        "name": "exchange.btsbots",
        "qty": 1
    },
    {
        "value": 599680.0054541617,
        "id": "1.2.36449",
        "name": "demo.btsbots",
        "qty": 4
    },
    ...
]

These JSON output files can be imported in the custom airdrop section of the Bitshares Airdrop Tool, and broadcast to the Bitshares blockchain via the Bitshares BEET multiwallet:

And finally, the airdrop card prompting you to broadcast the airdrop transaction onto the Bitshares blockchain via the BEET multiwallet:

Once you've broadcast the airdrop via the Beet multiwallet, you'll have an optional receipt like the following for your airdrop:

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So, what market pairs on the Bitshares blockchain would you choose to airdrop upon?

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