Hi everyone. I am writing this article in order to propose to the team and the community to try to get listed on the Bitmax exchange, or at least to have access to their API to be able to run strategies there. I don’t know if you are familiar with this exchange but its functioning could be extremely interesting from the point of view of automated strategies. They offer many tools and products very interesting from a trading point of view, promotion on certain pairs, boost cards, various levers, I paste here some links that present their history, their concept, and their originality, the “trade mining” and “reverse trade mining”.
Here the Lark quotes it in the starting list, then among his favorites, and also tells us that this platform is supported by very large actors of the crypto universe (15:30; 22;03)
As Lark says in the analysis above, we may have doubts about the authenticity of the volume that has sometimes been equal or exceeded the volume of Binance, so I paste a more critical analysis that highlights the fact that they seem to practice wash trading, but as all exchanges do, and that in addition it seems that they use stable corners to do this, it does not seem to me to be a danger for the stability of the exchange, or showing a major ethical obstacle.
If you listen to the following interviews, you can see for yourself that this is an extremely competent team on the trading issue, they are wall-street veterans who have obtained American licenses and worked for years for banks, edgefunds and so …, they really know what they are talking about.
Here is one from the co-founder. It is long but very interesting. Among other things, we learn that they do not charge entry fees for projects to be listed, which is very interesting for KRL
Here is the boss, who also says that listing fees are very low:
In essence, from the KRL point of view, there are several levels of benefits: On some pairs, in taker mode, they give you back the value of the fees you paid in BTMX (the coin of their platform). In maker mode, they give you back your fees, but take that same value away from your BTMX holding company to burn them. So to summarize, with this process, they create and burn BTMX. They also redistribute 80% of the platform’s fees to BTMX holders. The more you hold the more you win, and you can increase your stack by trading some pairs that offer this “trade mining” option or directly on the pairs including BTMX, like usdt, btc, eth … Moreover it is a deflationary corner, which means that with the rarity, the price will be pushed mechanically up.
We can therefore imagine BTMX accumulation strategies that allow you to accumulate a coin that will mechanically gain value thanks to deflation, and that gives dividends by stacking it, and all this by turning on a pair that costs nothing to trade since you get back the fees in BTMX, further increasing your stack, and therefore the dividends you receive.
And very importantly, dividends are paid in Tether - USDT, and the exchange is insured, which is rare.
Would you like the team to try to get information to be listed? or just the API? Or nothing at all?