Stellar Steem Sunday

in steem •  6 months ago

I stumbled upon this post the other day about setting up something to help with the liquidity in the newly established SBD and STEEM markets on Stellar via @steemanchor, and decided I'll pitch in a bit to help.

The fun thing is that I had already set up something on Stellar for some previous task that I forget what it is. I think it was for an airdrop but i don't believe I ever got anything for that. Alright, so I'll take the account and integrate with steem anchor. If you go to Steem Anchor website it walks you through the steps, which I found pretty easy to follow.

First, a Stellar account, which can be done by signing up for StellarX. That's the exchange I end up using anywho, so no big deal.

Then, you do have to fund it with some amount of Stellar. I sent it from my previous account, but otherwise I would have used Binance to do it.

After that, you can set up a "trust line", and the Steem Anchor has a button you can just click to do it for you, so I did that.

And that's enough to get started with the kelp bot. Download the binary and the config files, put in the secret key of the trading account, and hit go.

It just adjusts open orders every 10 minutes or so based on the config, which I basically just left untouched. Will see how it goes! Made a few manual trades on StellarX in the meantime as well.

If you're curious about the process, feel free to ask me below! The post referenced above is tied to a little competition/bounty too, so check it out if you can!

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So what all they hype really about? I don't get it :(
It not even really a dex....
Is it just the fact steem has one more exchange now?

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I think it's there for visibility maybe?

Maybe a quick way for Steemians or Stellarites (is this a thing?) to have faster access to the other platform.

Posted using Partiko Android

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I guess? It more of a gimmick if anything else.

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Yeah, it's a bridge to another exchange. I think you can make trades from an account linked to e.g
a ledger even, and because the order book is built into the stellar blockchain you can consider it decentralized. And hey, stellar is Sharia compliant apparently ;).

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