Idea for a simple browser extension:
- Monitors DEx for the appearance of particular asset (sell, buy or both)
An advanced version could do more (e.g. look for cheaply priced offers on the DEx by making another call to Polo or other exchange), but my main motivation for this idea is for asset issuers to be able to be alerted when they can buy back their token.
There are other ways to handle this:
- On a daily basis, issue a buy offer that’s valid 24 hours (they’d have to do this 365 times a day, or otherwise make long lasting offers which may become mispriced)
- Ask users to send unwanted tokens to Swapbot, Shapeshift, or such (“on demand”) (slightly more expensive in terms of transaction cost in this particular case)
But if they use Counterwallet, it may be convenient for them to sell their surplus token on DEx knowing that the issuer will buy them back at a guaranteed minimal price (which is important, because that does make the selling on DEx attractive - knowing that the cost of creating that offer won’t be wasted).
Scenario:
- Issuer sells coins on DEx for 100 units of something
- Issuer buys back on DEx for 90 units of something (guaranteed buy back price)
