How to use melminter to (hopefully) profit via arbitrage.
What is arbitrage?
Arbitrage is:
The buying and selling of some asset (e.g. currency, securities, commodities, etc) in different markets to take advantage of differing prices for the same asset
In our case, we have multiple "markets", or liquidity pools, that contain asset pairs, such as MEL/SYM or MEL/ERG, and SYM/ERG. The Melmint mechanism maintains the MEL/SYM pair, but does not interact with the other asset pairs.
In order to maintain the other pairs, we'll need YOU to do arbitrage and hopefully make some money.
Using melwallet CLI to arbitrage
Prerequisites
You'll need a wallet containing funds. Here is a guide on how to set that up on the testnet.
Time for some arbitrage 💰
melwallet-cli --wallet-path <path to wallet> autoswap <value>
Here, <value> is the amount of MEL that you want to automatically swap for arbitrage.
This command will automatically execute trades on the "triangular" MEL/SYM/ERG pairs.
