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The taming of the Bots Part II

Based on the feedback we've received, we're going to delay the order restrictions. We'll publish a new proposal later this week. We reserve the right to take unilateral corrective action to prevent abuse.

 

Original blog post below:

 

API trading has a number of benefits for traders and markets.  For traders using automated trading it saves them time by allowing them to trade without spending physical time on markets and it reduces the emotional impact of trading. For non-automated traders, there is the additional liquidity that bots provide and badly written bots provide great opportunities.

Unfortunately, the latest crop of bots are being used to skew the order books by automatically creating orders that have no intention of being filled.  This frustrates traders who are trying to find the real price of a coin.

To combat this, we are making the following changes.

Order Entry

  1. Number open orders per market will be limited to 10.
  2. Only 100 orders may be placed in a one hour period on a given market.
  3. These caps apply both to UI and API trades

API Requests

Api requests will be throttled based on data intensity and resource utilization, calls will be eligible for throttling if they exceed:

  1. Low:  1 request per second
  2. Medium: 1 request per 10 seconds
  3. High: 1 request per 30 seconds

The API documentation will be updated shorty to reflect the intensity level of each call. These changes are still in draft and we're looking for community feedback.  For users and services who require higher data access levels, please contact us for potential white listing. 

The changes will take effect no earlier than midnight Monday September 8th.

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1 Comments

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    Jennifer Moulard

    This is extremely welcome, here today, even through these limitations are on, it's still frustrating to trade / very unnerving as we still don't know if a bot is going to come a mess a trend entirely by triggering "cascade of trades" where the bots fights each other, leaving humans in the dust.

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