As Bitcoin.co.id (Indonesian exchange) is no longer supporting NuBits, I thought it would be a good idea to focus on the South American market and support Southexchange.com. I understand a wrapper for this exchange is underway.
Given that I’m running the risk of being marginalised now we are in the process of adding HitBTC, I like to test the waters first before proposing a grant and discuss whether the Shareholders think it is worth supporting this exchange on the NBT/BTC pair.
My opinion is that it would be good to support some niche markets and sow some seeds in what potentially could be a large market. I would suggest to start small with just $1,000 on each side (total 2,000 liquidity). Assuming the current rate of 0.3%/day on average that would cost about 6 NBT/day = 180 NBT/month. I would still value the bid side higher (0.35%) than the sell side (0.25%) similar to the NBT/BTC pair on CCEDK to encourage LPs to balance the pair e.g. through fiat pairs on other exchanges.
Having LiquidBits running this pair beside the other pairs wouldn’t result in additional costs. The server can support 4 or more currency pairs without further upgrades. There might be a ceiling in the number of users/bots supported but I haven’t seen any indication of that with 15 bots. I might also consider reducing the NBT/BTC support on CCEDK to offset some of the additional liquidity provision costs.
Interested in your thoughts or competitive proposals.