A thousand words by alix https://alix.coinerella.com/charts/?select=48h_4h_15min_combined_ma_percent
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T6 solutions are more long term. Please do not expect them to handle situations like this. That will be the problem the MakerDAO solution from Etherium will run into.
I don’t see an NSR/NBT exchange as one of the next steps.
My understanding is that seeded auctions are a requirement for a NuLagoon Tube like NSR/NBT exchange - you need a price feed.
As long as there’s no BCE with a NSR/NBT trading pair that has some volume, seeded auctions are a way to create such a price feed.
One of the next steps is to create an interface between T1-3 and Nu that has decent buffer capabilities.
T3 custodians seem to be a perfect next step.
They can buffer changes in demand and trade with Nu (FLOT) following a schedule.
T3 custodians are much more agile than the FLOT (singlesig vs. multisig) and they have a clear incentive to make trades (commission).
Today the peg on Poloniex was supported with great efforts, e.g. by @zoro or @mhps - thank you very much for that! - and by an NBT tx created, signed and broadcast by FLOT in less than 6 hours after the requirement to do that was identified.
Nu must not rely on that!
There will not always be people like zoro or mhps (or others whom I’m not aware of) supporting the peg, or the FLOT being available with that short lead time.
Today should have opened everyone’s eyes for the need of a more reliable liquidity provision.
Ask yourself:
what would have happened without zoro or mhps?
What would have happened if the sell side gateway wouldn’t have been available due to technical issues or if I couldn’t have restarted NuBot?
Are you ready to try T3 custodians and evolve the tiered liquidity model, create required interfaces?
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I don’t feel in the shape to do that now.
I perceive the gateways as a burden (because obviously I take operating them more serious than stated in the terms) and today I even bent (or broke; despite all seriousness) the terms of operating them.
Maybe I will draft a proposal - somewhen.
At the moment I only feel tired.
I’m still figuring how to get NuLagoon to give FLOT a cheap backdoor for liquidity balancing. It also needs more volume and could really benefit from being listed on the NuBits website. @CoinGame Do you think NuLagoon Tube is ready?
This [crisis are opportunities to improve]
And this [crisis are opportunities to improve]
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Almost 6000 usd trade volume on NuLagoon yesterday. One way to scale balancing operations is to bring more liquidity to NuLagoon, I think. Don’t you think?
Currently, the only way NuLagoonTube can be rebalanced is via a costly sell at customer prices as far as I understand. Please correct me if I’m wrong.
I tried to hep with my T3 and ALP shift last night…but as mod said - we need more T3.
@Nagalim - I hear you… I don’t know if I have the reaction time, or the time to dedicate to it.
Another T3 question - should/will Nu give grants to those holding personal T3? I know @Nagalim is doing it with FLOT reserves. But what about @zoro and others with personal reserves… We saw last night it is necessary.
So…when are we going to offer NuLagoon NBT via grant to open source their software…
This is an unsolved problem. The issue lies in incentive and would be a very lucrative solution to put pressure on as shareholders because the rates would theoretically be much lower than T1. I would argue that B&C is a half-way solution to this, but only because it’s considered third party. Anyway, it’s another conversation to have, one that I don’t have any answer to personally.
There is no obligation on reaction time. Help out when you can. The more you are useful and so on, probably the bigger credit you’ll be able to ask for. Make your own terms, or do like I did and just leave out any terms at all. Anyway, that’s my philosophy of it.
I was asking for community feedback, and didn’t get any in the previous thread. I’m happy to add it if others can confirm it’s working.
The Poloniex sell side gateway has no NBT left:
nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
"BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
"buy" : 10200.49,
"sell" : 0.0
}I’m going to ping FLOT to initiate another deposit, because according to ALix the ask (for BTC) side is significantly lower than the bid side.
@assistant liquidity
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The current total liquidity in the Nu network is:
Bid: 80569.3718 NBT (51.45%)
Ask: 76029.9138 NBT (48.55%)
It is broken down in the following manner:
Tier 1:
Bid: 41080.6032 NBT
Ask: 31321.9668 NBT
Tier 2:
Bid: 12204.76 NBT
Ask: 17846.947 NBT
Tier 3:
Bid: 27282.5086 NBT
Ask: 26861.0 NBT
Yes, tube is working flawlessly 
Edit: i was thinking that this service could be of great help for T3 custodians (private or not) without the spread and transaction fees. By registering only a FLOT address pair and the custodian managing (manual or automatically)
the T1-T2 pools
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It is now balanced: Poloniex BTC/NBT 10295.5849 12932.0437
Was it thanks to nulagoon?
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Hi @cryptog
The current total liquidity in the Nu network is:
Bid: 85097.1248 NBT (53.11%)
Ask: 75139.4865 NBT (46.89%)
It is broken down in the following manner:
Tier 1:
Bid: 42865.5549 NBT
Ask: 30606.7115 NBT
Tier 2:
Bid: 15865.91 NBT
Ask: 17671.775 NBT
Tier 3:
Bid: 26364.1599 NBT
Ask: 26861.0 NBT