[ANN] sell side gateway at Bter by masterOfDisaster

masterOfDisaster · March 24, 2016, 12:24pm

Continuing the discussion from [ANN] sell side gateway at Bittrex by masterOfDisaster:

Intro

To continue the path to a focussed liqudity provision scheme, I want to offer a sell side (sell side only!) gateway at Bter (US-NBT/BTC pair).
That’s why I thought a sell side gateway there might be appreciated.

About the exchange

I have no clue about the abilities of API credentials. Bter doesn’t support listing/granting/removing rights from a API key pair.

The NBT deposit address is BHrAi497tWLm4mKDaTVWFWyUYAM8eDqNxU.
I won’t post a BTC deposit address as I don’t intend to make it a dual side gateway.

Awaking shareholders

I’m not intending to create a motion for the contract.
I will strictly refer to the discretion of FLOT.
If FLOT deposits funds from the FLOT multisig address, this contract will be enabled.
The proposal at Daology is to provide a hash to ensure the contract doesn’t get changed after it has started.

If NSR holders don’t want this to happen or want to stop it, they might create a motion to stop it.

Contract

Hashed version of this contract:
https://daology.org/proposals/48aa78a94e2762089adb1c6660d33f43867aed5f
Hash (RIPEMD-160): 249bbe15bae80cdbe466a62d5a8f9f74bf9bc931

Copied version of the Daology version:

[code]

Intro

@masterOfDisaster - below called “the operator” - will operate a NuBot on the exchange mentioned below. The liquidity is being broadcast using a custodial address to allow tracking the liquidity situation of the bot. If the gateway needs funding, Nu (FSRT, FLOT, JordanLee, etc.) sends NBT to the exchange account deposit address. The NBT get sold and the earned BTC are not put into orders, but get transferred to a Nu address (T4 buy side) on a regular basis.

The process of selling NBT can be tracked with the getliquiditydetails RPC.

Disclaimer

The operator charges a low fee for this sell side gateway, but offers no guarantee for anything - neither the availability of NuBot nor malfunctions of NuBot nor outages of the internet access nor the funds on the exchange.
The operator promises to send all (remaining) NBT and traded BTC to Nu (FSRT, FLOT) on a regular basis.
The operator is not responsible for tracking the funding level of the gateway.
The operator won’t take any of the funds or trade them.
Nobody except Nu should send NBT to the gateway as all proceeds (or remaining NBT) will solely be sent to Nu addresses.
Funds that have been put on the exchange account by the operator for testing/monitoring purposes before the contract starts, are excluded from this rule.

Parameters

Operator: @masterOfDisaster
Type: NuBot
Exchange: bter.com
NBT deposit address: BHrAi497tWLm4mKDaTVWFWyUYAM8eDqNxU
Pair: NBT/BTC
Mode: Sell side only
Sell Side Offset: > 1%
Duration: 30 days, automatically extended by 30 days until withdrawal of all funds has been requested by authorized entity (NSR holder motion, FLOT majority in the respective group)
Liquidity broadcast address: BETwD8nSjtj9ADSvej2na34xmsMYwPRymv
Operator Fee: 30 NBT

Activation of the gateway / starting the contract

Operation starts the day a Nu representative group or person (JordanLee, FLOT, FSRT) deposits funds at the deposit address AND the funds are put on order.[/code]

The NBT broadcast address was once granted here for sell side activities at Poloniex.
It will be reused here, as it’s not Poloniex, but still a sell side activity.

The broadcast address will be shared between the sell side gateways (this one and other gateways I’m offering or going to offer).
That makes checking the liquidity a little bit more complicated, but after thinking twice, requesting and tracking a dedicated NBT address for each operation creates a lot of efforts for both the NSR holders and the operators.
Liquidity per exchange is still available through “getliquditydetails” RPC.
One NBT address for liquidity broadcasting per operator should be fine.

Test run

NuBot settings from the test run:

Test results

 nud getliquiditydetails B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 500 | grep 0.4.1_1458818581316_919b81 -A 2
        "1:NBTBTC:bter:0.4.1_1458818581316_919b81" : {
            "buy" : 0.0,
            "sell" : 0.0
--
        "2:NBTBTC:bter:0.4.1_1458818581316_919b81" : {
            "buy" : 0.08,
            "sell" : 0.3135

Assessment

success (no T1 order, because not enough funds; have no access to deposit funds atm)

masterOfDisaster · March 26, 2016, 11:39am

Time to activate the sell side gateway at bter and make some BTC for Nu?

Paging @dysconnect, @ttutdxh, @jooize, @woodstockmerkle

While the offset of my NuBot at Bter is 1.5% at the moment, I’d be inclined to increase it to 2%.

Btw. the NuBot is running:

# from the log:
11:35:11.002 [checkOrders] WARN  - Liquidity info submitted:
        tier=1 buy=0.0 sell=0.0 identifier=1:NBTBTC:bter:0.4.1_1458818581316_919b81 response=true
        tier=2 buy=0.08 sell=0.31347966 identifier=2:NBTBTC:bter:0.4.1_1458818581316_919b81 response=true [c.n.n.t.CheckOrdersTask:142]
[...]
# from nud:
 nud getliquiditydetails B | grep 0.4.1_1458818581316_919b81 -A 2
        "1:NBTBTC:bter:0.4.1_1458818581316_919b81" : {
            "buy" : 0.0,
            "sell" : 0.0
--
        "2:NBTBTC:bter:0.4.1_1458818581316_919b81" : {
            "buy" : 0.08,
            "sell" : 0.3135

As blockexplorer.nu is down (again…), I can’t prepare a deposit tx via Cointoolkit.
I wouldn’t be signing it anyway, so I’m fine if another FLOT member initiates this

jooize · March 26, 2016, 9:14pm

I’d like advice for how much to send. Around 1k–5k US-NBT?

masterOfDisaster · March 26, 2016, 9:22pm

Considering the on the whole strange situation of bter (I mean the very customer friendly behaviour), I’d like to have a compromise between

as little funds as possible there and
enough funds to spare FLOT from continuously depositing funds

What about starting with 1k US-NBT to test the waters?

I’m going to adjust the offset from 1.5% to 2% and lower the T1.1 funds from 500 US-NBT to 200 US-NBT.

edit: done

 "bookSellwall": 200.0,
 "bookSellOffset": 0.02,
 "bookSellInterval": 0.005,
 "bookSellMaxVolumeCumulative" : 2000,
 "bookSellType": "exp",
 "bookSellSteepness": "high",

jooize · March 26, 2016, 9:31pm

Right. That sounds sensible, thanks.

NuExplorer is still down. How is it I do this manually again …

masterOfDisaster · March 26, 2016, 9:38pm

With createrawtransaction I think, but I don’t know how to get the tx ID and craft it, to be honest.
I never did that manually…

What about the github project, which dysconnect started? Was it dysconnect? Do you know what I mean? There you should find more information.

jooize · March 26, 2016, 9:40pm

I should know how, since I’ve done it multiple times. Might be neat to have git-multisig ready for times like these.

Haha! Yes, git-multisig.

python main.py --recipient BHrAi497tWLm4mKDaTVWFWyUYAM8eDqNxU --amount 1000

Added multisig address to client, label = FLOT first NBT multisig
Multisig address seems valid.
Trying git pull...
Already up-to-date.

Updating address snapshot for: FLOT first NBT multisig
new unspent =  set([(u'781e5ccf100afccf8cf6155e39a61f3baf29d6de8bc365c6bfbd079484782b51', Decimal('20000'), 1), ('9c6410dc0e2758edab3462dbf4b6da3c0d870700f6bf3231f88088889a5610f2', Decimal('150000'), 0), (u'addab8120e5bebf93f6f5abb8469c255d39ce539a15ae52343a85d813379d4fd', Decimal('0.39'), 1), (u'61df6e0e5cf8f146caf3f00138f92a576567b2ae6ba6685d841fc44498532abb', Decimal('0.1'), 0)])

Still waiting, but the blockchain isn’t synchronised yet so I think that might be why.

Update: Yes, that appears to have been the case.

<a lot of "new unspent" lines>
[master 1282af4] 1459032134.47
 1 file changed, 43 insertions(+), 8 deletions(-)
Counting objects: 4, done.
Delta compression using up to 4 threads.
Compressing objects: 100% (3/3), done.
Writing objects: 100% (4/4), 857 bytes | 0 bytes/s, done.
Total 4 (delta 0), reused 0 (delta 0)
To git@github.com:jooize/flot-operations.git
   1afdfd5..1282af4  master -> master
Done.

This is your transaction hex:
010000001e10f75602bb2a539844c41f845d68a66baeb26765572a[...]

So we have that as a convenient backup!

Oh, NuExplorer is up again!

jooize · March 26, 2016, 10:22pm

Activate masterOfDisaster’s sell-side gateway at Bter with 1,000 US-NBT

Address: BHrAi497tWLm4mKDaTVWFWyUYAM8eDqNxU
Amount: 1,000 US-NBT

Signed 1 of 3-of-(5−1)

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

Take note that this is not explicitly approved by shareholder consensus, and as such is controversial. Discuss!

masterOfDisaster · March 26, 2016, 10:22pm

Use the force!

Another reason to start with 1,000 US-NBT: after the contract was activated by 3 of 4 FLOT NBT group members, I can sign successive deposits
So it won’t hurt that much to start with a small amount, even if the 1,000 US-NBT get traded fast.

Nagalim · March 26, 2016, 10:59pm

I suggest we wait till i hardfork the nbt/cny feed.