Current Liquidity

[CoinGame]

Okay I’ll add it when I get a chance. I’m traveling at the moment.

[masterOfDisaster]

I wish we had more gateways like the ones on Poloniex or already fixed cost compensation for liquidity provision…

https://alix.coinerella.com/walls/?4h
shows that some exchanges have dried up walls.

Luckily there’s close to no volume there, so the peg according to
http://coinmarketcap.com/currencies/nubits/#markets is intact.

[zoro]

We need the sell gateway in Polo. I am trying also to move some NBT from Tube to Polo.
the situation could reverse at any moment though!

[huafei]

@assistant liquidity

[assistant]

Hi @huafei

The current total liquidity in the Nu network is:

Bid: 69468.7661 NBT (52.06%)
Ask: 63963.531 NBT (47.94%)

It is broken down in the following manner:

Tier 1:
    Bid: 39635.4874 NBT
    Ask: 16299.4895 NBT

Tier 2:
    Bid: 4803.59 NBT
    Ask: 20885.0415 NBT

Tier 3:
    Bid: 25028.1887 NBT
    Ask: 26779.0 NBT

[masterOfDisaster]

I fired up the sell side gateway.
Deposit request will follow.
Situation is dire on Poloniex:

edit:
deposit prepared, FLOT pinged:

FLOT US-NBT Operations (sell side)

Deposit to Poloniex sell side gateway required. TX created and signed my masterOfDisaster. 010000008e06995602512b78849407bdbfc665c38bded629af3b1fa6395e15f68ccffc0a10cf5c1e7801000000f900483045022100e3352a5e96d5c8c269121896f4f7554ee0a78645c20d0b1151b8c81346a0a95c02206a9312ad6646e0b2c217bc9462559e1f438984331694a700708b71497f51b042014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1…

edit2:
deposit not yet executed, Polo with no NBT:

Will (ab)use funds on buy side gateway.

edit3:
Funds from buy side account put on order:

15:10:36.801 [Strategy Secondary Task] INFO  - initOrders SELL [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
15:10:37.752 [Strategy Secondary Task] INFO  - The current balance equivalent 2042.40429048 NBT is not enought to place the full SELL wall defined in the liquidity model (3000.0).
Resizing the size of the order [com.nubits.nubot.trading.LiquidityDistribution.LiquidityDistributionModel:152]
15:10:37.764 [Strategy Secondary Task] INFO  - The current balance equivalent 2042.40429048 NBT is not enought to place the full SELL wall defined in the liquidity model (3000.0).
Resizing the size of the order [com.nubits.nubot.trading.LiquidityDistribution.LiquidityDistributionModel:152]
15:10:37.771 [Strategy Secondary Task] INFO  - SELL- OrderBook : ----- SELL-side order book :
1.006,0.00256456,2042.40429048
SELL wall volume : 2042.40429048
SELL tier2 volume = 0.0 NBT
Total SELL volume = 2042.40429048 NBT
Best price :0.00256456 (1.0059999512$)

until deposit from FLOT on sell side gateway is credited and can be used.

edit4:
FLOT deposit was credited and has been put on order:

I will deactivate the (ab)used buy side gateway.
This will cause the sell side order size to drop to 3,000, but 7,000 are left to replenish orders.
I won’t be near my computer for several hours. I might be able to sign FLOT transactions, but can’t take a leading role.

[jooize]

Oops. Zero at Poloniex.

20k NBT to gateway?

Agree, verify and sign.

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

@Dhume, @ttutdxh, @woodstockmerkle, @masterOfDisaster

[woodstockmerkle]

Responded to on the NBT FLOT thread

[masterOfDisaster]

Gateway account ha sno NBT left:

nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
        "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
            "buy" : 14859.61,
            "sell" : 0.0

Will sign the tx.

edit:
the tx had only 0.01 NBT fees, although it was above 1 kB. I created a new tx (as the tx doesn’t show up on the blockexplorer; it seems to be rejected by the network):

FLOT US-NBT Operations (sell side)

The tx size is above 1 kB. Shouldn’t that require 0.02 NBT fee? I can’t find the tx id on blockexplorer… It’s there: http://blockexplorer.nu/transactions/5a2ef01f6a6d3585953822a5c16a11163a7b3d90026ac04174b8b835a8da4bac Redacted some content that would lead to confusion. update: the funds on the (ab)used buy side gateway are gone. We need a deposit to the sell side gateway soon… update2: Just in case it might be required (if the buy side should run dry) I started the buy side gateway in no…

edit2:
the buy side on Poloniex starts to run dry.
I’ll try to fix that while I’m on the road.
Will talk about it later.

edit3:
status on Poloniex:

• peg ok
• according to CMC a 24h trading volume of over $100,000

[jooize]

$170,000 total volume. $150,000 at Poloniex. — CMC

Poloniex sell side at zero again.

@masterOfDisaster: How is gateway looking? Can we see that somehow?

"BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
"buy" : 14773.81,
"sell" : 19415.4794

And 3k NBT showing at ALix now. Aaaand … it’s gone!

How long does it take for the bot to … it’s back!

Gone again. Should we take some more proactive action since there appears to be quite some demand?

[cryptog]

Gone again. Should we take some more proactive action since there appears to be quite some demand?

I think so.

[masterOfDisaster]

And 3k NBT showing at ALix now. Aaaand … it’s gone!

How long does it take for the bot to … it’s back!

Gone again. Should we take some more proactive action since there appears to be quite some demand?

Price moves of BTCUSD cause a shift of the NuBot orders.
It takes some time to bring them uo (NBT sell order first, NBT buy order after that).
You can’t ease NuBot’s behaviour without increasing the hedging risk. As soon as the price moves, the orders need to be shifted.

How is gateway looking? Can we see that somehow?

You can have a look at the liquidity status of the gateway exactly like you did.
The (funding of the) gateway is something we need to discuss later when I’m not typing on my mobile phone.
You might already be able to guess why…

[zoro]

Once again BTC was resurrected from the dead
situation in Polo is reversed!
we need buy wall now.

[dysconnect]

Sometimes we should consider waiting for people to go to NuLagoon.

[masterOfDisaster]

According to ALiX everything’s under control.
I’d like to revert that statement.
The buy side gateway requires a deposit. The buy side runs dry.

Buy side depleted (I don’t consider 14 USD value a wall):

I’m trying something desperate until the FLOT can continue signing the tx…

Update - current status:
A tiny buffer is available

modPuddle was taken down to operate the sell side gateway there (just in case that side runs dry because of another crash).
Buy side gateway running, although there’s currently only NBT on the associated account.
But 4 of 5 required signatures of the 5-of-8 multisig BTC address have been done.

Broadcast liquidity information:

date
Sun Jan 17 01:59:43 UTC 2016
status of sell side gateway:
nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
        "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
            "buy" : 2.36,
            "sell" : 2108.0968
status of buy side gateway:
nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 0.01,
            "sell" : 2.0902

I’m going to have a break now.

Update:
Break - as if!
The buy side is empty according to ALix:

But I have one trick left.
I had the sell side gateway and buy side gateway running in “sell side gateway mode” with a low offset (0.004) to just compensate the fee and have some buffer for fluctuating BTC rates.
I could drain a bit over 2 grand in BTC on the sell side gateway, which are now in orders sized 1,000 USD on the book with a quite big offset:

The same was possible with the buy side gateway (a bit over 2,000 USD in BTC).
The BTC on the sell side gateway won’t keep the peg super exact, but buy some time until the FLOT BTC deposit arrived.

The NBT exit gateway now runs at an offset of 0.007 (buy side, of course) and considering the current BTC fluctuation, the funds will soon be available through automatic price shifts of NuBot.
BTC buy orders will be sized 3,000 USD.
Currently a bit over 2,000 are on order on the buy side gateway (all available funds):

03:24:15.973 [Strategy Secondary Task] WARN  - **BUY** orders re-initialized on  **poloniex** :  1/1 placed successfully
total amount placed : 2095.7568852257
Tier1 order size : 2095.7568852257
Tier2 cumulative order size : 0.0 (0 orders)
 [c.n.n.s.S.StrategySecondaryPegUtils:246]
03:24:16.185 [sendLiquidity] WARN  - Liquidity is not being sent : orders are not yet initialized [c.n.n.t.SubmitLiquidityinfoTask:147]

Now I’ll really have a break.

[jooize]

@masterOfDisaster is doing an amazing job. We are lucky to have you.

Clearly, it’s unsustainable all the work he’s doing to protect the peg. I’m considering applying to operate a gateway myself as well, but it’s daunting to handle the amounts of funds. I am also not confident in the accounting needed, but I guess practice with small amounts should resolve that.

Are additional gateways desired? The risk of funds on exchange would be equal to funding the existing gateways more, just adding the risk of myself. But assuming I don’t run with the funds, we would spread the other risks between gateway operators and supposedly improve availability (though it would seem mOD is available all the time). Relieving @masterOfDisaster of work is increasingly important.

@masterOfDisaster: Is the matter of availability mostly that you currently have to manually switch which gateway is running, and move funds between them? Can we automate this? Would another RPi help? I believe Nu would (or should) pay for one in that case.

I think the gateways seem elegant, but perhaps I’m lacking awareness of superior alternatives. Are the suggested T3 custodians intended to send funds to say a gateway in need, or will that remain FLOT’s responsibility?

Which are the best ways people can help to improve liquidity flow? Do we need ideas, or do we have the ideas and need execution?

[Cybnate]

With the passing of the T3 custodian role some relieve should be in sight. I’m also considering running gateways, either as a backup or to support T3 custodians. Will need to do more testing and understanding what is required to operate this properly.

[dysconnect]

I’m also considering joining the T3 crowd, but it’s really because I am still dissatisfied with the deals offered by NuLagoon Tube. The best way to justify my ideals is to set up competing services.

But I also prefer to take a different approach than either NuLagoon tube and masterOfDisaster and make it sustainable yet as low-cost as possible. Cooperation is possible with multi-sig, so if somebody is comfortable running nud and some scripts 24/7 for a very little bit of pocket money please let me know. The primary justification of this though, is to rehearse for possible forms of liquidity operations with the birth of BCE.

I also hope FLOT members could voluntarily do more load balancing, where the NSR group could help the NBT group - monitoring walls and creating transactions etc.

[Cybnate]

But I also prefer to take a different approach than either NuLagoon tube and masterOfDisaster and make it sustainable yet as low-cost as possible. Cooperation is possible with multi-sig, so if somebody is comfortable running nud and some scripts 24/7 for a very little bit of pocket money please let me know. The primary justification of this though, is to rehearse for possible forms of liquidity operations with the birth of BCE.

I’m all ears and happy to run another instance of nud and some scripts on one of my servers or even setup a separate instance eventually. Getting it sustainable and as low-cost as possible should be priority one for Shareholders.

[masterOfDisaster]

An update might be appropriate:
Liquidity seems to be under control for the moment.

The BTC deposit at the NBT exit gateway arrived.
Once more the FLOT was able to execute a transaction (one that required 5 signatures!) at record speed: approximately 7 hours from identifying the need until broadcasting the transaction.

The situation was more dire than I experienced before. I (ab)used dozens of BTC on the sell side gateway (that were waiting for withdrawal) to support the peg (violating the terms of gateway operation) to buy the FLOT some time.
Some details about that can be found in the editing timeline of Current Liquidity