[ANN] NuLagoon Tube's Offset to 5%, and NuLagoon's Commitment to NuBits's Liquidity

[henry]

###We would like to announce that the spread of NuLagoon Tube is tightened to ±0.1%. Effective immediately.

This is the response to JordanLee’s appeal on better liquidity for NuBits.

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As one of the most important services supported and compensated by NuShareholders. We feel it is neccessary to explicitedly announce our commitment to NuBit’s Liquidiy.

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##- We, NuLagoon, are firmly committed to provide the BEST liquidity for NuBits

1. Best spread.

2. Best depth.

3. Best guaranteed duration.

##- We, NuLagoon, are fully committed to create innovative products to increase the quality and reduce the cost of NuBits liquidity.

[JordanLee]

At the moment and in the recent past, NuLagoon Tube has indeed provided the best spread, depth and duration. It is an important accomplishment. Thank you NuLagoon. Further improvements are exciting. I want to hear more.

[henry]

Two updates.

1. We now have bold “Best” in our slogan. We want to emphasis the “Best”, we really mean it.

2. We added a hint on the BTC bar to show the status of quote price displayed.

[Nagalim]

This is a big deal. It will make reduction of ALP spreads feasible.

[JordanLee]

I am happy to see this.

What the network really needs next is automated arbitrageurs using this very low spread. How can we attract arbitrageurs who will automate interaction with NuLagoon Tube? Spreading knowledge of this tight spread might be all it takes.

[Nagalim]

You’d be best to integrate it with nubot and the ALPs.

[masterOfDisaster]

integrate it with nubot and the ALPs

The current design of NuLagoon Tube (NLT) doesn’t allow that integration - at least if you thought of using NLT from NuBot to allow (automatic or manual) balancing of the funds.
You need to be in control of the sending address(es) to register those as trading pair at NLT.
NuBot might be programmed to withdraw funds (if the API keys allow that; I wouldn’t dare allowing that!), but only from the exchange and you never know what withdrawal address they use.
Or did I understand you completely wrong?

It would indeed be nice to have an NLT interface for having NuBot trade at NLT.
But I think that’s not possible without an intermediate step of withdrawing funds to an address that doesn’t change and can be registered at NLT.
Another complication to create that is that NuBot/ALP development doesn’t seem to be at full throttle at the moment.

[huafei]

@henry update this please

What is the exchange spread and transaction fee rate?
The exchange spread is set at 0.3%. The transaction fee rate is 0.1%.

we still have 0.1% transaction fee?

[henry]

update this please

Thank you. Just updated. Tx fee remain the same. It is already the tiniest among exchanges.

[henry]

We realized most community members are prefer to discuss and stay at this forum. However, its more important to communicate with world outside. We should attract more new users to NuBits.

We just announce Tube new spread at bitcointalk here:

https://bitcointalk.org/index.php?topic=1475052.new#new

Bros, please help to answer questions and bump the thread.

BTW.
which broad in bitcointalk.org is better to post that info?

[henry]

[UPDATED FAQ]

• How could I to change my registred address pair?

If one of your address you filled in the register form is already registered, the registration will failed. You can only change your registered address pair by sending register request NuBits and Bitcoin transactions.

[masterOfDisaster]

Just for the record: this spread together with the liquidity volume is impressive!

[Sabreiib]

Off topic, what’s the ideal tool for future BKC liquid providing? Nubot or Nulagoon? I"ll practice this business before B&C released.

[masterOfDisaster]

I suppose NuBot will be in use to sell BKC.
I can’t imagine relying solely on NuLagoon.

[henry]

[ANN]
In order to let the Bitcoin TX sending to Tube Users get confirmed faster by the blockchain, NuLagoon increased the tx fee paid to Bitcoin miners to 0.0001 BTC

[Nagalim]

0.0001 BTC

I’ve been using double this. It’s about 0.02% of my minimum volumes, so I wasn’t worrying too much. You don’t have a minimum volume though, do you?

[henry]

We had used 0.00004 BTC fee since the beginning. Most of the time the TX can get confirmed in short time. We think this fee increase do good to the confirm time further even when the Tube tx number goes up. However, it still need time to prove by observation.

[henry]

We realized there are two BTC txs sent out by Tube are not confirmed for many hours. After investigation, the reason turn out to be a CashWithdraw TX which is set a fee much lower than 0.0001.

We are really sorry about that. We already raised the bitcoin fee for auto tx to 0.0001. that CashWithdraw is manually generated. It is a mistake to set a low fee like that in the TX.Now, it seems we have to wait the TX be confirmed. But we believe it woun’t happen in future. Thanks for using the tube

[Nagalim]

So just to be clear, there are about 150 BTC of funds that are owed to people in the network that are waiting on BTC confirmations. That’s a shit ton of buy side liquidity. Not all of it will end up in the network, for sure, but it’s pretty rough that there are $70k buy side frozen that are owned by users of our network.

[masterOfDisaster]

Where do you get that number (150 BTC) from?
Is that what derailed our liquidity and brings us close to activating NuSafe AND selling 5 million NSR?

@henry can you please confirm that 150 BTC sent from NuLagoon are pending confirmations?

Are the tx with question mark here pending confirmation?

If yes, that’s 143 BTC…