Market Making for Buildteam Token

in #buildteam5 years ago

There is only a very limited number of interesting native tokens on bitshares and I found buildteam token to be one of them. The team behind the buildteam token actively develops new products and services, so far so good. Thus I have decided to try market making for BUILDTEAM/BTS market. I have bought some tokens over the past several weeks helping to stop the price downfall.


buildteam.png

As clearly visible on the chart, low liquidity is causing a very high spread of 50% or more between buy and sell orders. This is far of being ideal for causal buyers and sellers. It's relatively easy to support liquidity and narrow spread more than ten folds to 5% or even 1%, although it requires certain funds to lock in the market.

There are however a few problems to do so.

  • 5% additional supply each month puts strong sell pressure on the market
  • I couldn't find any monthly reports on project revenue distributed to stakers and how it changes over time
  • the new steem-engine market has caused further fragmentation to buildteam market
  • there was no buy-out of any tokens in the middle of July, at least not on bitshares

There are several concerns and now I wonder whether to stay and try to provide liquidity to this market or sell tokens I own at any price and quit the market? I have positive impressions about Buildteam project, but this doesn't fully translate to buildteam token.

Sort:  

I've been an early Buildteam staker for quite some time. I've been enjoying the STEEM rewards, but it certainly is concerning to see the price of the token drop so much. Providing liquidity would be a good thing, if you can make it work.

Loading...

Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

Hi @hotbit!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 2.174 which ranks you at #23314 across all Steem accounts.
Your rank has dropped 20 places in the last three days (old rank 23294).

In our last Algorithmic Curation Round, consisting of 116 contributions, your post is ranked at #11.

Evaluation of your UA score:
  • Only a few people are following you, try to convince more people with good work.
  • The readers appreciate your great work!
  • Great user engagement! You rock!

Feel free to join our @steem-ua Discord server

Coin Marketplace

STEEM 0.26
TRX 0.11
JST 0.032
BTC 64615.49
ETH 3112.63
USDT 1.00
SBD 3.84