CELT weekly update
The good COSS news
I read some telegram chatter about todays medium being underwhelming. Rune writing this one himself. The thing is, there is a lot of bullish news 'hidden' in there. The obvious one is new dev's starting, last time new devs started the backlog of wrong deposits gotten fixed, and fast. The hidden bullish news I'm talking about is this:
This is one of the biggest incoming bullish news. This will mean spreads of pairs could be reduced to near 0! Orderbooks will get filled. it is one of the biggest advantages a platform can have. It's also a must have to build other services on. No one wants to use an exchange as payment processor if there is a high deviation in price to what it actually should be. => bullish
New traders! => more traders = more volume if they actually trade. it would benefit COSS if the 0% fee is instated first so the orderbooks could fill up a bit.
My interpretation: We're gonna start marketing, it's time to start our influx of people signing up now. It would not make much sense if there wouldn't be big steps coming after this. it should also be coördinated with api launch so that volume will actually start increasing and orderbooks are more easily filled instead of all the by hand labor.
This one should be obvious. New promos = new 'wash' volume. it's volume. Just take it.
Most of you won't like this news but it's actually hidden good news: Rune is stating that actually the API is implemented, they simply don't have a tool to monitor it yet. to say it diffrently : the road is built, but there is no way yet to regulate the speed limit yet. So API could be pushed live as soon as they have the tools for controlling it.
Bottom line: Bullish signals
New CELT funds
Last week someone bought about 5 eth worth of CELT. I have ported 4 eth to the trading wallet. The new funding is verry welcome. but it was like dropping a drop of water on a hot plate. More is needed. The bigger the reserve, the more and better the bot can function and the spreads will be tighter. hearing about the 0% maker fee is awesome news for CELTbot, we'll be able to provide more service and reduce spreads to a real near 0 in the future!
Wallet performance
Nothing new, moving sideways. most of the fluctuation is based on market rates changing. We need people trading on COSS for this bot to actually make a diffrence. you can still follow the twitter feed or the google sheet if you actually want the details. but it's nothing exciting.
Too distracted with the dapp thing
Yes that's correct, I've been putting a lot of time in creating a dapp. It's called King of the Hill and you can already play the first version on the ropsten testnet. We (me and the ui guy) are working hard to get the pieces together so we can launch on main net. I've added a lot of extra functionallity and I'm really excited to go main net.
Short gameplay the game:
Create a village , collect gold from village, buy soldiers, attack and conquer other villages or the hill.
repeat collecting gold and attacking.
playing the game costs some eth per transaction, this will go into a pot and the most of it(+/- 98%) will get paid to the king of the hill after each 250 blocks. I'll be playing it with up to 1 eth at least to get battle for the pot of eth started.
1% will go to the development team.
1% will go towards buying p3d which will provide a dividend pot claimable by the king at any time!
So yeah I put a lot of my time into it.
register for free village at launch: https://www.surveymonkey.com/r/57ZDCPS
CELT roadmap
The biggest thing on the roadmap is the ERC 20 token upgrade to ERC 223 using coss token template.
I've learned a lot about solidity by coding the dapp contract. It has really given me insight on how to upgrade CELT and should be able to upgrade it to feature dividends. I know it's possible, now it's just a matter of doing it at some point, this should be done when CELT actually starts to become profitable.
Arbing exchanges is still on the to-do list and looking at my spreadsheet it is something that pays off. I funded the Huobi account with 0.5 eth and 30 omg tokens which totalled 0.97 eth at the time,spreadsheet shows 1 eth+ atm. its not astronomically big but it is a win and I'll take any wins.
The propper logging of created liquidity trades also still on the roadmap. Got to many things I wanna do and to little time to do them.
Bring them api and let it rain volume
this subtitle says it all. When api is released my focus will shift to coss again and to providing everyone with the possebillity of using a bot on COSS
Thanks guys for the ongoing support.
Let's get this hype train back on wheels, fuel it's engine and spit out some volume.
Spielley