After two months of behind-the-scenes development, we’re excited to announce that our limit order mining code has been made available to the public on 11/10 ! This is a huge step forward in bringing a highly functional product to themarketplace in the form of V2.
Currently, our platform has been constrained by the use of one executor application to process trades. By open-sourcing this code, we are now able to allow tens or hundreds of “mining bots” to execute trades asynchronously, significantly increasing the likelihood that a limit order trade will be fulfilled. Similar to paying higher gas to get a transaction done more quickly on the Ethereum blockchain, providing a greater incentive/processing fee when placing an order on UniTrade will motivate the bots to execute trades more quickly. This also creates a new income stream in the UniTrade ecosystem for miners looking to make the spread between actual gas prices and the incentive fee paid by the user. For those with an engineering background interested in setting up their own mining bot, information on how to deploy can be found here: GitHub Link (https://github.com/UniTradeApp/unitrade-service)
We will have a “Simpler” guide soon on how to set it up! If you want to report any bug/problem feel free to do it on - https://t.me/UniTradeAppBeta
Overall, this is another major milestone in the #RoadToV2. We remain on track for the major release on December 1st, and we look forward to delivering the new website later this week!
Disclaimer: there can be no guarantees made by unitrade that mining bots will be profitable due to a variety of external factors beyond our control. This article should not be construed as business or financial advice.