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Update 4: Added Tantra offer and updated i2 offer. Altonomy withdrew their offer.

Update 3: Grapefruit's offer is framed differently (in terms of "bid to ask") to the others (in terms of the spread from mid) - so 2% bid to ask is largely equivalent to 1% spread, except that the offer could be asymetrical around the price. This comment explains it.

Update 2: Grapefruit have confirmed that the only loan they require is the DCR one. Added note about no layering on Grapefruit offer.

Update 1:

i2 have clarified that the loan figure in their proposal covers all required loans, so that is cut in half. I am also now assuming that as Grapefruit does not mention a loan other than the DCR one that this covers their inventory requirements.

Grapefruit have clarified that they would not charge trading fees to the Treasury, which sets their proposal apart from the other two because there is no additional unknown charge for trading fees to consider.

Market Maker proposal cost estimates

Estimated costs are based on $30/DCR. I don't know what a good estimate of trading fees would be, but they would also be billed to the Treasury by i2 and Altonomy, the i2 proposal caps this at $20k/month but does not expect to reach that limit.

Tantra

  • No trading fees, making this the cheapest offer by some distance, but calling into question whether the plan is realistic.

Offer:

0.3% BTC spread, 0.5% USD spread

Layered offers of $30k each side up to 3% from current price

6 pairs

90% uptime

Cost:

No fee for the service.

Loans:

5k DCR/pair - 30k DCR for 6 pairs = 900k USD, at annual interest of 9% this is ~$6,750 month

Trading fees:

Up to $10k/month charged to Treasury

Total indicative cost for 6 months (including max 10k/month trading fees): $100,500

i2 Trading

  • Highest liquidity close to trading price

Offer:

0.5% BTC spread, 0.75% USD spread

Layered depth, $10k/1.5%, $30k/2%, $50k/4%

6 pairs

90% uptime

Cost:

USD 35k/month = $210k for 6 months

Loans:

$8,200 per month (".213 BTC, 150 DCR, and 1600 USDT")

Trading fees:

Up to $10k/month charged to Treasury

Total indicative cost for 6 months (including max 10k/month trading fees): $319,000

Grapefruit Trading

  • Only proposal which does not require reimbursement of trading fees.

Offer:

4% bid to ask spread, which is equivalent to the 2% spread level (from current price) as the other proposals quote it.

$30k each side

4 pairs

80% uptime

Cost:

$28k/month = $168k for 6 months

Loans:

$90k/pair = 12k DCR or $360k, assume monthly interest of 0.8% = $17k for 6 months

Total indicative cost for 6 months (including trading fees) : $185,000

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