Setup

One begins using XMM by setting up a dedicated Ripple wallet. This wallet needs to be topped up with the desired currencies in such a manner that the values for each currency amount are equal with respect to the current exchange rate.

For example, suppose that XMM will be trading three currencies: USD, EUR and BTC. At the moment of setup, 1 BTC trades for 1000 USD and 1 USD trades for 1 EUR. The total amount of funds in the wallet is worth, say, 600 USD (or 600 EUR or 600 mBTC). In such a case the funds are divided into 200 USD, 200 EUR and 200 mBTC.

In what follows we denote the Ripple address of the dedicated wallet by rippleADDRESS.

XMM issues its own virtual currency. In our installation this currency goes by the symbol XMM. The balance for the XMM part in the trading bot's Ripple wallet is always negative. It is convenient to think that the bot owes money to the investor, and this debt is denoted in the units of XMM. Simultaneously, investors hold XMMs; the total amount of XMMs held by investors is equal in the absolute value to the negative balance of the XMM currency in the Ripple wallet of the trading bot, that is, the algebraic sum of all XMM units always remains zero. This means that investors can exchange all of their XMM units to other currencies.