Announced: Jan 11
Reward: $2000 + 2 HSC
This bot will run at random times to bring the mark price on Hubble within +-10% of FTX and Binance.
Treat the pool like a uniswap pool: xy = k where x = usd balance, y = base asset balance in the pool Let x' and y' denote new pool balances and p denote the target mark price => x'/y'= p From uniswap invariant, xy = x'y' => p * (y')^2 = xy => y' = sqrt(xy/p) if (y' < y) Long(y - y') else if (y' > y) Short(y' - y) --- E.g. Say ether is priced at $1k and pool has 1k ether, so x = 1e6 and y = 1e3, spot price = $1k We want to get the mark price to $1050, y' = sqrt(1e6 * 1e3 / 1050) = ~976 => Long 24 eth