Hi all,
Have been quite busy the last few weeks, so didn't find the time for the COSS Weekly Volume Report, my apologies for that ;) This week an overview of Weeks 4 to 6 (June 25 to July 16).
Overview of Volume
Average Total 24h volume ($) for the last 3 weeks was 1,843 M, with a maximum of 5.585 M and a minumum of 0.77 M. First peak correlates with the end of the BWT promo, the second one with the end of the UFR & XNK promo's.
Below you can see the 24h trading volume since the start of data collection (May 27). Average 24h volume ($) over this period was 1,895M. We can clearly see that volume has been mainly dominated by the trading promo's. There are no new trading promo's announced, so let's see how the volumes evolve.
Average 24h volume ($) for the ETH-BTC pair was 12,835 $.
Average 24h volume ($) for the FIAT pairs was 35,018 $. Fiat withdrawals were made available on the 6th of July. Fiat volume spiked a couple of days later, with a maximum volume of 110k. Since then, volume more or less returned to pre-withdrawal levels.
Fee Split Allocation
This week's snapshot for the Token-Based Fee Split Allocation was taken at Ethereum block 5973640. The FSA USD value per COSS reported on the dashboard is still the same as last few weeks (0.000096634311 $). However, the FSA per token should be correct. As all pairs are either traded versus ETH, BTC or USD, we can calculate the Total USD FSA value per COSS by calculating the ETH, BTC and USD value per COSS and multiplying by two. Using the USD rate at the time of the snapshot, we get a FSA USD value of 2.37971E-05. Multiplying this value with the circulating supply of COSS (118,810,622, source: CMC), gives us the total value of FSA, and thus also the revenue for the COSS team, of $2,827. Based on the total volume of last week (9.362M), we can calculate the average trading fees: 0.0604%.
Spreads
Since today, i'm also logging the spreads of all pairs every hour. The spread is the difference between the highest buy and lowest sell order. We want a low spread so that people can buy/sell at market rates. Spielley is doing one heck of a job with his CELT bot reducing these spreads. In the figure below you can see a boxplot of all the spreads (in %). Outliers are left out, because some pairs have spreads of up to 900%... :p You can see that in general, the spreads are quite large. Not really inviting people to trade on COSS. The CELT bot needs more funds to reduce the spreads even more on all pairs, so if you have any spare ETH, buy some CELT (you can find more info a bit below).
Community Initiatives
Finally, I want to take the chance to point out other community initiatives.
/r/communityProjectsCoss: A new subreddit created to group all COSS community projects: https://www.reddit.com/r/communityProjectsCoss/
CELT Bot: Spielley's bot that reduces the spread of all the pairs on the exchange. You can buy CELT tokens to provide liquidity to the bot.
More information on the CELT steemit: https://steemit.com/coss/@spielley/celt-coss-exchange-liquidity-token
COSSbot: A group of people that are in the process of creating a free bot to trade on COSS. You can find the last COSSbot Development Update here: https://medium.com/@jimmydeal/cossbot-alpha-testing-commenced-85af5824f50b
Arbitrage bot: Arbitrage bot created by thaodehx, doing arb between COSS and Binance on several pairs. Contact thaodehx if you want to fund the bot for a certain pair. You'll get 40% of the profit generated.
More info: https://www.reddit.com/r/CossIO/comments/8xnd0n/arbitrage_fund_launch_day/ and https://www.reddit.com/r/CossIO/comments/8y9di2/arbitrage_bot_20_launch_day_2/
Sharing Data
If anyone is interested in the data, feel free to contact me. I have time series of volumes for each pair on COSS since the end of May (frequency of 15 minutes) and spreads for all pairs (every hour). If someones wants to do something with this data, let me know. There is quite alot that you can do with it but I don't always have the time to do it ;)
Suggestions, Remarks, Questions
If you have any suggestions for future content, remarks on possible wrong calculations, or questions related to this report, feel free to ask. You can contact me cossvolumereport[at]gmail[.]com, on the COSS telegram (@ Ghyger) or on Reddit (@ DoubleG-).
Happy aCOSSmulation!
Double G