Moving towards Automation.

Automation of Buyback-Mechanism
Date of Commencement: 18-June-2014, Wednesday.

Since the beginning of this project, the buy-back mechanism of our Fund was being done manually, which consumed lots of my time and energy.

Recently I managed to build a bot for monitoring the NAV (net asset value) of our Fund, and adjusting buyback price accordingly. I had been testing the bot for more than two weeks and it seems to work quite well. Hence, I had made a decision to put the buy-back mechanism of XMM into automation.

Starting from the next Wednesday, the tasks of updating buy-back/new-sell quotes from Hotwallet will be done by a bot on my computer.

Configurations of the Bot.
Spread: 
The buy-back and new-issue prices will be quoted with a spread of ~5%,
i.e. selling new units at ~2.5% premium, and buying-back at ~2.5% discount to NAV.

Volume: 
The volume quoted on each side will be equivalent to about 5% of total unit-in-circulation.

Update interval: 
The bot will be adjusting the prices every one hour. However, this 1-hour-interval is not a guarantee since it may be impacted by many factors... e.g. the bot may not be able to update XMM prices when queries to Rippled-servers/RippleCharts fail, when facing slow network connection, power-failure, insufficient fund in hotwallet, etc.


More Bots for market-making.
Others bots had been developed to help performing some market-making tasks for our Fund.

As a test start, we had already automated our support for XAG/XRP pair with a bot few days ago. If everything proceed smoothly, more bots will be deployed for other currency pairs from next week onwards.

We hope that with the automation processes, our Fund could perform the tasks more efficiently, and be able to provide more liquidity for more currencies pairs in Ripple ecosystem.

Wish that my workload will decrease significantly thereafter, and I shall move on to other projects.
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