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Hummingbot/MARKET Protocol
marketprotocol
JavaScript, Shell, Makefile, Dockerfile
## Before you `start work`
Please read our contribution [guidelines](https://docs.marketprotocol.io/#contributing) and if there is a bounty involved please also see [here](https://docs.marketprotocol.io/#gitcoin-and-bounties)
Please make sure to comment in the issue here immediately after starting work so we know your plans for implementation and a timeline.
**Please also note that in order for work to be accepted, all code must be accompanied by test cases as well.**
### Description
Anyone interested in this bounty must first be approved. Please do not start work without speaking to us first in discord.
Hummingbot is open source software that helps you deploy automated, high-frequency trading bots that run on any crypto exchange.
This bounty is for the integration of LBTC and SBTC into Hummingbot and the creation of a strategy to trade similar assets between multiple exchanges for a minimum spread.
**Hummingbot developer docs:**
[https://docs.hummingbot.io/developers/](https://docs.hummingbot.io/developers/)
[https://docs.hummingbot.io/developers/strategies/](https://docs.hummingbot.io/developers/strategies/)
### User Story:
As a Hummingbot user, I want to provide liquidity in LBTC and SBTC.
### Why is this needed?
LBTC and SBTC have a few differences between spot bitcoin including [pricing](https://medium.com/market-protocol/position-tokens-pricing-on-mpx-explained-7b2d2ddb556f) and leverage, which need to be addressed before trading them with Hummingbot. [See examples](https://docs.google.com/spreadsheets/d/1MEgdZj1mjJTcD5KEV61v5pXBhjv6y_9LDiGqJ9lD2Gw/edit#gid=1702381958) to convert LBTC/SBTC to spot Bitcoin price
### Description:
Feature
### Solution:
Hummingbot’s [cross-exchange market-making strategy](https://docs.hummingbot.io/developers/strategies/cross-exchange-market-making/) is a good starting point/template. This strategy, however, would be different enough to warrant a separate strategy.
Example - A Hummingbot user could quote LBTC/SBTC on DDEX [maker exchange] based on the current spot bitcoin price Binance [taker exchange]. When filled on DDEX an appropriately sized hedge in the right direction is placed on Binance.
There are two main pieces to complete:
- Convert LTBC/SBTC to spot price so Hummingbot can evaluate strategy profitability, hedge ratio, etc.
- Implement a few hedging actions based on the general rules below:
1. If I sell LBTC, I need to buy spot bitcoin
2. If I sell SBTC, I need to sell spot bitcoin
3. If I buy LBTC, I need to sell spot bitcoin
4. If I buy SBTC, I need to buy spot bitcoin
The design is flexible and allows for LBTC/SBTC today but other synthetic assets following a similar construct in the future.
### Notes:
LBTC represents a long Bitcoin position
SBTC represents a short Bitcoin position
LBTC and SBTC are leveraged positions which means they are not hedged 1:1 with the taker exchange.
### Definition of Done:
- [ ] Convert the price of Bitcoin on maker exchange into LBTC and SBTC quote prices
- [ ] Ensure hedge rules above are implemented
- [ ] Review [MP.tools](MP.tools) and [leverage calculations](https://docs.google.com/spreadsheets/u/3/d/1MEgdZj1mjJTcD5KEV61v5pXBhjv6y_9LDiGqJ9lD2Gw/edit#gid=1702381958) so an appropriately sized hedge is placed when filled on LBTC or SBTC.
- [ ] Documentation on usage and configuration
- [ ] Strategy unit tests (we have examples here: https://github.com/CoinAlpha/hummingbot/blob/master/test/)
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