CELT is an ERC20 token that can be bought and sold at its contract. It's created to fund a bot that operates on the COSS exchange. The bot takes the form of being a market maker. It detects how big the void is between buying and selling orders on the orderbook of a pair and decreases it, depending on the reserve it has. It decreases it by putting a buy limit order and a sell limit order within the void. When both these positions get filled the bot realises a small profit. If you want to trade you need a counterparty to trade with. If you don't have a counterparty to trade with, you can't trade, you'll need to trade at a price someone does want to trade at. The CELTbot tries to provide better prices for users to trade at instead of having to trade at a standard big loss due to the lack of standing orders on the orderbook.
Because of the recent partnership with thaodehx where he's doing arbitrage between coss and Binance I decided to ask the CELT holders on reddit if I should add my own huobipro -COSS arbitrage bot into the game using CELT funds. After getting their opinions on this I finally booted it up yesterday with 0.5 ETH of my own and 30 OMG from the CELT wallet.
Huobiprohistory is showing 130+ trades have been done since startup. Everybody wins with increased volume and profitable trades. The bot is active on all pairs in common between COSS and huobi.
Last week 
I decided to actually start keeping decent track of the wallet perfomance in ether equivalent now it has been made easyer to do so and not as time consuming. I've added huobipro's wallet equivalent in bitcoin to todays calculation and will keep doing it that way. It's not there in the previous ones cause it's only been setup since yesterday.
Keep in mind that the first 2 colums are creating a new baseline with the new reporting system.
Do not be alarmed that we are down in ethequivalent value, we have been accumulating crypto during this downtrend we'll be back in profit when the limit sell positions on top get filled again. We accumulated all the way on the downtrend and are now back in uptrend, CELTbot works best in ranging markets where people just exchange with the bot and the bot gets more turnover.
You can see that in a week time the etherequivalent has been uptrending now. Todays report is a bit off because of the Huobi wallet to BTC conversion, I expect it to flatten out if I keep reporting its contents the same way each day.
The easiest way to buy and sell CELT is if you use this site if you have metamask:
https://celt.dvx.me/
Otherwise refer to the CELT launch post to buy with Myetherwallet:
https://steemit.com/celt/@spielley/the-cossening-celt-launch-and-how-to-get-and-sell-them
If you are buying CELT let me know where you want your funds to be used:
The first Trade happens on COSS and the 2nd happens on huobi.
this is a 0.3146% diffrence in price. Deduct fees huobi: 0.2% and deduct fees COSS: 0.04% leaves us with +/- 0.0746% gain on a 0.1 LTC arb trade on LTC/BTC pairs.
If people are willing to fund this and if it is within my botting power to do so, I will be adding other exchanges to our dear CELTbot. First on my mind would be to add Kucoin to the fold as I can imagine a lot of pairs being in common. I would need to check to be sure how many there are. Since Thaodehx already has binance setup I will leave that one up to him as last I heard he was planning to move forward with the funding.
Some people keep thinking that CELTbot is the same as the COSSbot from the community COSSbot group.
I did join their coding effort and provided an automated trading strategy. It's now available for alpha acces. More info about this here: https://medium.com/@jimmydeal/cossbot-alpha-testing-commenced-85af5824f50b
Further I am working on providing a freemium cossbot spinoff through https://accumulationbot.com/
When COSS releases API everybody will have acces to an accumulationbot and will be able to autotrade their coss account and accumulate their favorite crypto's!. I would still encourage everyone to join the alpha cossbot group as people in there will get a free subscription for an amount of time to accumulationbot.com. The site is still under construction and I can't ETA the actual launch of it.
The site owner is a COSS supporter and supporter of the coding effort for COSS, he is offering a 10% discount if you use the discount code SP10 at his store. So if you're looking for crypto related merch make sure to stop by his site to check out https://www.decentralgear.com/
I hope you guys enjoyed this week's monster steemit update.
Help me out by upvoting here and spreading the word.
