[Accounting] (Former) NBT entry/EXIT gateway (now dual side)

Although it all started with a “back-of-the-envelope” calculation, I thought it might be appropriate to track the status/balance/liquidity in a dedicated thread and not buried on another one.
I consider it useful for accounting purposes.

From: [Passed] NBT entry gateway on Poloniex provided by @masterOfDisaster

I made an extensive back-of-the-envelope calculation calculation. Here’s the result:

###Deposits and withdrawals

  • sell side gateway
    10,000 NBT deposited at 2016-01-12 12:36
    10,000 NBT deposited at 2016-01-13 06:32
    10,000 NBT deposited at 2016-01-15 14:54
    20,000 NBT deposited at 2016-01-15 23:00
    16 BTC withdrawn at 2016-01-13 18:31
    16 BTC withdrawn at 2016-01-14 21:11
    6,800 NBT withdrawn at 2016-01-18 12:50
    5,000 NBT withdrawn at 2016-01-19 12:49

  • buy side gateway
    20 BTC deposited at 2016-01-09 00:03
    50 BTC deposited at 2016-01-17 03:47
    6,800 NBT withdrawn at 2016-01-11 12:36

  • in total

  • NBT
    50,000 NBT deposited
    18,600 NBT withdrawn
    31,400 NBT difference

  • BTC
    70 BTC deposited
    32 BTC withdrawn
    38 BTC difference

  • The total of funds currently being at both gateways needs to be compared with the value of
    36,400 NBT and
    38 BTC.


Status of the gateways at 2016-01-19, 18:15 UTC

  • sell side gateway
    14,200 NBT
    22 BTC

  • buy side gateway
    11,900 NBT
    24 BTC

  • in total
    26,100 NBT
    46 BTC

If you sell 8 BTC now (at $385; to relate the total to the 38 BTC that result from the “Deposits and withdrawals”) that creates ~3,000 NBT proceeds.
Which makes the status of the gateways:
29,100 NBT
38 BTC

2,300 NBT seem to be missing, but you need to take into account that not only the hedging, but the reduced value of the BTC play a role. If you could sell 8 BTC at $435, the difference would be below 2,000 NBT.
In the end it looks like keeping the peg on Poloniex during the BTC rollercoaster cost Nu $2,000 and made me some years older.

The question’s are:
was it worth spending the $2,000 to keep the track record of NBT in a good shape?
Would the damage to Nu’s image have exceeded $2,000?

I have no answer to these questions. My gut feeling tells me, it was worth it. I couldn’t know the price of that before, but knowing in advance that it’d cost Nu $2,000 wouldn’t have shied me away from breaking the terms to prevent the peg from breaking.

I miss an extensive dicussion about that (mis)behaviour (using proceeds from gateways to put them on the order book instead of withdrawing them in slavish obedience) in the forum.
I might be able to live with a pardon - considering my motive and the results.
I can’t live with just maintaining silence about it.

This must not create a precedent for breaking terms!


From: [Passed] NBT entry gateway on Poloniex provided by @masterOfDisaster

Status of the former gateways at 2016-01-20, 18:30 UTC

  • former sell side gateway
    9,735 NBT
    33.8 BTC

  • former buy side gateway
    20,868 NBT
    1.9 BTC

  • In total
    30,603 NBT
    35.7 BTC

sidenote:
if you look at yesterday’s status and multiply the 46 BTC in total with $385 (yesterday’s BTC rate at the time of writing), the total value of yesterday’s funds on Poloniex was
$17,710 (BTC) + $26,100 (NBT) = $43,810

Today’s status (BTC at $408 at the time of writing):
$14,565 (BTC) + $30,603 (NBT) = $45,168

While it looks like Nu made money trading on Poloniex (and to some degree that might be true due to the offset), the main benefit was not having lost all BTC when the price was down and started going up (and now still having BTC when they are worth more than yesterday).
Having increased the offset of the NuBots to around 1% prevented having all BTC funds being traded to NBT while allowing to keep the peg quite closely.

I made another calculation - yesterday’s BTC funds (46) with today’s price ($408):
$18,768 (BTC) + $26,100 (NBT) = $44,868

It looks like Nu made $300 during today’s rollercoaster!
Is my math flawed?

Current configuration of one NuBot has a lowered offset for sell side (0.4%) - as incentive for trading NBT for BTC (the BTC funds are only 1/3 of the total funds).


Addendum for 2016-01-20

5,000 have been withdrawn from the former NBT EXIT (buy side) gateway to FLOT NBT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js

making the adjusted balance for that account

  • former buy side gateway
    15,868 NBT
    1.9 BTC

and

  • both former gateways combined
    25,603 NBT
    35.7 BTC (at $408 per BTC valued $14,565)
    ’-------
    $40,168 total account value

Status of the former gateways at 2016-01-21, 18:00 UTC

  • former sell side gateway
    13,279 NBT
    25.2 BTC

  • former buy side gateway
    10,600 NBT
    14.5 BTC

  • both former gateways combined
    23,879 NBT
    39,7 BTC (at $407 per BTC valued $16,157)
    ’-------
    $40,036 total account value

Withdrawal of 5,000 NBT to FLOT scheduled for today;
5,000 NBT withdrawn at 2016-01-21 22:42
10 BTC deposit by FLOT pending (4 have signed, 5 are required).
For the first time in weeks no need to hurry with the latter one.
This is just a scheduled balancing :dancebanana:


Status of the former gateways at 2016-01-22, 07:45 UTC

10 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-22 00:37 UTC.

Currency	Amount	Address	Date	Status
BTC	10.00000000	1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi	2016-01-22 00:37:20	COMPLETE
  • former sell side gateway
    8,279 NBT
    25.2 BTC

  • former buy side gateway
    10,600 NBT on sell side
    24.5 BTC on buy side

  • both former gateways combined
    18,879 NBT
    49,7 BTC (at $397 per BTC valued $19,730)
    ’-------
    $38,609 total account value


Status of the former gateways at 2016-01-23, 01:15 UTC

  • former sell side gateway
    3,601 NBT on sell side
    37,3 BTC on buy side

  • former buy side gateway
    6,715 NBT on sell side
    34.5 BTC on buy side

  • both former gateways combined
    10,316 NBT
    71.8 BTC (at $390 per BTC valued $28,002)
    ’-------
    $38,318 total account value


Status of the former gateways at 2016-01-23, 22:10 UTC

13 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-23 18:40 UTC.
13 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-23 19:02 UTC.

Currency	Amount	Address	Date	Status
BTC	13.00000000	1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi	2016-01-23 19:02:41	COMPLETE
BTC	13.00000000	1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi	2016-01-23 18:40:07	COMPLETE
  • former sell side gateway
    2,101 NBT on sell side
    41.2 BTC on buy side

  • former buy side gateway
    7,590 NBT on sell side
    58.3 BTC on buy side

  • both former gateways combined
    9,691 NBT
    99.5 BTC (at $389 per BTC valued $38,705)
    ’-------
    $48,396 total account value

3 Likes

Status of the former gateways at 2016-01-24, 21:10 UTC

  • former sell side gateway
    5,124 NBT on sell side
    33.5 BTC on buy side (at $403 per BTC valued $13,500)

  • former buy side gateway
    10,183 NBT on sell side
    51.6 BTC on buy side (at $403 per BTC valued $20,795)

  • both former gateways combined
    15,307 NBT
    85.1 BTC (at $403 per BTC valued $34,295)
    ’-------
    $49,602 total account value

1 Like

Status of the former gateways at 2016-01-25, 19:30 UTC

BTC rate: $390

  • former sell side gateway
    2,403 NBT on sell side
    40.5 BTC on buy side (valued $15,795)

  • former buy side gateway
    8,163 NBT on sell side
    56.8 BTC on buy side (valued $22,152)

  • both former gateways combined
    10,566 NBT
    97.3 BTC (valued $37,947)
    ’-------
    $48,513 total account value

12 BTC withdrawn to FLOT multisig address 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG has been done from the former buy side gateway account.

A deposit of some NBT to the former sell side gateway might be appropriate.

If any NSR holder agrees, he/she might prepare a transaction using Cointoolkit and paste it in the relevant FLOT thread.
No need for pinging, though in my opinion. The time for permanent emergencies seems to be over thanks to the NuBots and the ALP regaining strength.

2 Likes

Status of the former gateways at 2016-01-26, 17:40 UTC

BTC rate: $394

  • former sell side gateway
    5,226 NBT on sell side
    32.8 BTC on buy side (valued $12,923)

  • former buy side gateway
    8,095 NBT on sell side
    44.9 BTC on buy side (valued $17,690)

  • both former gateways combined
    13,321 NBT
    77.7 BTC (valued $30,613)
    ’-------
    $43,934 total account value

A deposit of some NBT to the former sell side gateway might be appropriate (especially when looking at the low ALP volume at Poloniex sell side).

If any NSR holder agrees, he/she might prepare a transaction using Cointoolkit and paste it in the relevant FLOT thread.
No need for pinging, though in my opinion. The time for permanent emergencies seems to be over thanks to the NuBots and the ALP regaining strength.

Status of the former gateways at 2016-01-27, 16:30 UTC

BTC rate: $394

  • former sell side gateway
    4,000 NBT on sell side
    36.4 BTC on buy side (valued $14,341)

  • former buy side gateway
    6,508 NBT on sell side
    37 BTC on buy side (valued $14,578)

  • both former gateways combined
    10,508 NBT
    73.4 BTC (valued $28,919)
    ’-------
    $39,427 total account value

12 BTC withdrawal to FLOT multisig address 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG has been done from the former buy side gateway account (already included in the balance).

I’m not going to monitor the liquidity situation closely until furter notice.
If there’s a transaction to be signed, I’ll do it, if I don’t sense a conflict.

1 Like

Status of the former gateways at 2016-01-28, 20:45 UTC

BTC rate: $382

  • former sell side gateway
    0 NBT on sell side
    46.7 BTC on buy side (valued $17,839)

  • former buy side gateway
    4,490 NBT on sell side
    26.2 BTC on buy side (valued $10,008)

  • both former gateways combined
    4,490 NBT
    72.9 BTC (valued $27,847)
    ’-------
    $32,337 total account value

16 BTC withdrawal to FLOT multisig address 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG has been done from the former buy side gateway account (already included in the balance).

I’m not going to monitor the liquidity situation closely until furter notice.
If there’s a transaction to be signed, I’ll do it, if I don’t sense a conflict.

1 Like

Status of the former gateways at 2016-01-29, 18:05 UTC

BTC rate: $377

  • former sell side gateway
    3,829 NBT on sell side
    36.6 BTC on buy side (valued $13,798)

  • former buy side gateway
    0 NBT on sell side
    38.2 BTC on buy side (valued $14,401)

  • both former gateways combined
    3,829 NBT
    74.8 BTC (valued $28,199)
    ’-------
    $32,028 total account value

I’m not going to monitor the liquidity situation closely until furter notice.
If there’s a transaction to be signed, I’ll do it, if I don’t sense a conflict.

Status of the former gateways at 2016-01-30, 13:10 UTC

BTC rate: $377

  • former sell side gateway
    4,190 NBT on sell side
    36.6 BTC on buy side (valued $13,798)

  • former buy side gateway
    1,677 NBT on sell side
    33.8 BTC on buy side (valued $12,742)

  • both former gateways combined
    5,867 NBT
    70.4 BTC (valued $26,540)
    ’-------
    $32,407 total account value

I’m not going to monitor the liquidity situation closely until furter notice.
If there’s a transaction to be signed, I’ll do it, if I don’t sense a conflict.

I’ve decided to make the accounting easier by taking the amounts form the broadcast liquidity - btw. everybody can do that :wink:

Status of the former gateways at 2016-01-31, 00:44 UTC

BTC rate: $378

Sun Jan 31 00:44:08 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 13439.0,
    “sell” : 4183.0751

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 12740.17,
    “sell” : 1679.2886

  • both former gateways combined
    5,862 NBT
    69.2 BTC (valued $26,179)
    ’-------
    $32,041 total account value

Status of the former gateways at 2016-02-01, 19:02 UTC

12,000 NBT were deposited to the NuBot accounts

BTC rate: $372

Tue Feb 2 19:02:04 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 8439.72,
    “sell” : 16075.8356

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 11649.82,
    “sell” : 7652.7734

  • both former gateways combined
    23,727 NBT
    54 BTC (valued $20,088)
    ’-------
    $43,815 total account value

Status of the former gateways at 2016-02-02, 20:11 UTC

BTC rate: $372

Tue Feb 2 20:11:42 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 8446.52,
    “sell” : 16075.8356

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 11659.2,
    “sell” : 7652.7734

  • both former gateways combined
    23,727 NBT
    54 BTC (valued $20,105)
    ’-------
    $43,832 total account value

1 Like

Status of the former gateways at 2016-02-03, 20:20 UTC

BTC rate: $370

Wed Feb 3 20:20:05 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 9860.75,
    “sell” : 14609.026

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 13578.79,
    “sell” : 5652.7734

  • both former gateways combined
    20,261 NBT
    63.3 BTC (valued $23,438)
    ’-------
    $43,699 total account value

1 Like

Missed a 6 in there. :wink:

1 Like

Fortunately you are right! :wink:
Fixed!

Status of the former gateways at 2016-02-04, 21:30 UTC

BTC rate: $387

Thu Feb 4 21:30:44 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 8443.89,
    “sell” : 16462.5445

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 12152.9,
    “sell” : 7671.5943

  • both former gateways combined
    24,133 NBT
    53.2 BTC (valued $20,595)
    ’-------
    $44,728 total account value

This is a brilliant thread.

Seriously?

Status of the former gateways at 2016-02-05, 19:44 UTC

BTC rate: $385

Fri Feb 5 19:44:11 UTC 2016

Account activity (former) sell side gateway:
8 BTC withdrawn to 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe (valued $3,080)
10,000 NBT withdrawn to BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js

Account activity (former) buy side gateway:
19 BTC withdrawn to 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe (valued $7,315)

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 5311.57,
    “sell” : 6462.5345

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 4779.38,
    “sell” : 7671.5943

  • both former gateways combined
    14,133 NBT
    26.2 BTC (valued $10,090)
    ’-------
    $24,223 total account value ($20,395 less than yesterday because of the withdrawals)

1 Like

Status of the former gateways at 2016-02-06, 21:32 UTC

BTC rate: $374

Sat Feb 6 21:32:26 UTC 2016

  • status of (former) sell side gateway:
    nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
    "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
    “buy” : 4309.89,
    “sell” : 7273.609

  • status of (former) buy side gateway:
    nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
    "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
    “buy” : 6581.83,
    “sell” : 5647.5302

  • both former gateways combined
    12,920 NBT
    29.1 BTC (valued $10,890)
    ’-------
    23,810$ total account value

I’d like to empty the Poloniex accounts on which the NuBots operate. I’d like to do that latest end of tomorrow UTC.

If the FLOT thinks @zoro’s account on which his NuBot operates on POloniex should be funded before I empty my accounts, it’s about time to send funds there.

@cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle what do you think?

Yes I think it is important to start the operations on @zoro FLOT gateway before you have stopped completely yours in order to make the transition smooth and guarantee some liquidity support on Polo.
So I would be fine with sending 10 btc to the buy side now.

How is @zoro’s experience with the bot and the operation? How about 5000NBT and 13 BTC to zoro and rest to FLOT?

I have running nubot in windows for over a month now and i am very confident with it. My only concern is stability but since i monitor it as much as possible i am ready to go!
I prefer a small amount of funds at least at the start. :wink:

1 Like

While it creates additional effort for FLOT I’d rather withdraw all to FLOT and fund @zoro’s account from FLOT.
In the end it’s the same.
If there’s “forum consensus” of FLOT members that I can transfer 5,000 NBT and 13 BTC to @zoro’s account and withdraw the remainder to FLOT addresses, I’m fine with that.