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Cardano Ecosystem

Genius Yield

11/23/2023

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Announcing Open-Source Market Maker Bots for Genius Yield’s DEX

We are thrilled to announce the release of open-source market maker bots specifically designed for our order-book in order to enhance liquidity and user experience.

Announcing Open-Source Market Maker Bots for Genius Yield’s DEX

We are thrilled to announce the release of open-source market maker bots specifically designed for our order-book in order to enhance liquidity and user experience. These bots will play a crucial role in ensuring a high level of liquidity in the order books, which is essential for the smooth execution of trades and overall capital efficiency of the DEX. 

What is a Market Maker Bot (MMB)?
Order-book DEXs rely on a large volume of orders placed at different price ranges to ensure efficient price discovery and execution. However, attracting enough liquidity can be challenging, especially in the early stages of a DEX. To address this liquidity challenge, we have developed market-maker bots that will work in tandem with our smart order routers (SORs): MMB will continuously place Buy and Sell orders at different price points, creating a more liquid and efficient trading environment. Additionally, SORs will effectively match existing orders, further enhancing the overall trading experience.

Open-Sourcing MMB for Cardano Community Empowerment
In line with our commitment to open-source tools for the community, as we did with SORs, we will make our market maker bots freely available to the Cardano Community. This will empower users, partners and projects to take control of liquidity management and contribute to the best trading experience for everyone. We are currently finalizing details and will soon provide more info about their implementation and access to the code on GitHub. We believe that these bots will play a significant role in fostering a vibrant and thriving landscape on our DEX. We also hope this step will inspire the Cardano community and its ecosystem toward more decentralized applications!

Stay tuned for more details!
 

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