Hi,
I am making a BTC-ARS (ARS is Argentina Peso) OTC broker and I want to quick trade to calculate the price based on this logic:
Additionally the second quote changes from time to time so how do I update that?
Its quite easy to achieve this with the Dynamic OTC Broker on HollaEx.
You simply go to the OTC broker and create a new one. Then you select the Assets as BTC and ARS
You then select your spread. Its a percentage added to the quote the broker gives the user and it can have your profit margin includes. So 1 would be 1%. I put 0.1% here which is. pretty small spread margin to be very competitive.
You then click Advanced and set the formula for it to be binance_btc-usdt*binance_usdt-ars
This means to calculate the price it should take the BTC-USDT price from Binance then multiply that by the USDT-ARS price from Binance. Note that you can set this to anything you want. You can even set USDT-ARS price to be static like you requested here by putting a static value so for example binance_btc-usdt*1070. and 1070 here is the exchange rate between USDT-ARS I put here statically. I just checked and alternatively I could even get BTC-ARS exchange rate directly from Binance since Binance has that market listed.
Once that is all set, you then proceed and create the broker. Now each time a user gets the price it would automatically get the prices dynamically and display the correct value with the spread you selected as you can see in the image below.
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