The NIOX Maker, part of NIOX Suite by Autonio, now supports Loopring Exchange, an Ethereum zkRollup DEX. It’s live and ready for the public to start trading and market making with. You can begin running your strategies here.
Autonio Foundation’s automated trading tools and infrastructure, especially the NIOX Maker, are a perfect match for the high performance engine offered by Loopring. Combined, users are able to deploy active liquidity provision strategies on a gas-free, non-custodial Ethereum exchange. This means users can maintain self-custodial security of their assets, while trading at high-speeds, low-fees, and hopefully earning attractive returns on the liquidity they provide.
NIOX Maker Module
The NIOX maker can substantially increase liquidity on a venue by allowing its users to harness innovative algorithms, complex calculations and thousands of data points gathered from the exchange it is running on — all presented in an intuitive UI. It helps turn enthusiasts, including non-technical ones, into market makers. This module of the NIOX suite contains a set of different strategies to make sure it fits the purpose and intention of the trader/liquidity provider using the module.
The basic strategies that are built-in can create liquidity in several different ways. You can find more detailed instructions in the NIOX Maker Manual.
The Trading Strategies
The market maker currently has 3 strategies which the user can implement, with more variations to be added over the next few weeks.
- Smart Market Maker is the ideal strategy for market making in extreme conditions, for example price swings of around 20 percent within a short amount of time, since it is capable of adapting to such movements and exits its positions in the case of black swan events.
- Nonstop Market Maker keeps making the market as per the chosen parameters, without taking rapid market movements into consideration. It is ideal for a choppy 2-way market.
- Taker Bot constantly executes market orders within the set refresh time around the set spread. This setting allows the user to let the NIOX maker run in its full volume creating capacity.
The NIOX maker lets you set three parameters to make it run as intended.
- Refresh Time — This is the time period in which the module resets its orders, meaning that as soon as the refresh time is over, the maker cancels open orders and sets new orders on the ask and bid side.
- Spread parameter — The spread reflects the percentage difference between highest bid and lowest ask. For example the bid price of an asset trades at 9.95$ and the ask price of the same asset is 10$. In this case the gap between the highest buy order and the lowest sell order would be 5 cents which is 0.5% of 10$, which means that there is a spread of 0.5%.
- Portfolio parameter — This is the amount of the portfolio that the bot will be using to place orders, and will be determined for each order that will be placed on the order book.
You can access the NIOX maker at maker.autonio.foundation. Registration and set up will not take more than a few minutes for the first time. Also make sure to visit Autonio’s Trading channel for support or the website for documentation.
Loopring’s Layer 2
Loopring is a leading layer 2 protocol delivering a high performance, low cost exchange and payment protocol on Ethereum. Loopring takes an approach known as zkRollup proposed by Vitalik Buterin. zkRollup migrates most computations off-chain and only broadcasts exchanges’ new state roots and their corresponding proofs onto Ethereum. Loopring’s throughput is as high as 2,025 trades per second, without sacrificing any Layer 1 security at all. The corollary is that the cost per trade settlement is as small as $0.00015 USD. Loopring’s performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots.
Autonio: Enabling Prosperity
The Autonio Foundation is a decentralized autonomous organization with the vision to build a prosperous community around algorithmic trading. To achieve this, Autonio has introduced NIOX Suite that contains a Terminal, NIOX Maker, Smartdex, DAO, and AI (work in process). Autonio’s toolkit is making it easier for crypto traders to conduct trading analysis, deploy trading algorithms, exchange crypto currencies, sell their strategies and pool funds for trading purposes. These tools and services provide an infrastructure that enables developers to build and users to employ powerful auto trading tools to navigate the DeFi ecosystem with security, profitability and ease.
What to expect in future
As part of this collaboration, we will work together to ensure there are attractive opportunities available to NIOX Maker users on Loopring.io. For example, it can be a liquidity mining campaign for certain pairs (such as NIOX/ETH and others) that is only eligible to NIOX Makers. In fact, the NIOX token was recently listed on Loopring’s zkRollup for transfer support: meaning anyone on Loopring’s layer 2 can send NIOX to another user very quickly, and gas-free (and for now, completely free). There are many other efforts that can motivate novice and advanced users alike, and mobilize capital and liquidity provision on Loopring Exchange with Autonio tools. This marks the beginning of an effort to further democratize access to high performance trading tools and infrastructure to help push the boundaries of DeFi. Over the next few weeks we will release more information about our joint plans and campaigns.
This post also appears in Autonio’s blog.
Note: there is risk in any trading strategy, market making included. Please do not conflate this tool with being a guaranteed profit-generator. Market making is a competitive business, the above is a tool to help get started.
Loopring is a protocol for scalable, secure exchanges and payments on Ethereum using zkRollup. You can sign up for our Monthly Update, learn more at Loopring.org, or check out exchange & payment at Loopring.io.