Whoever runs a nubot with 500-1000NBT in sell side of hitbtc, he/she may need to check it.
The orders seem to have frozen in older values when BTC was at 400$.
Although my proposal haven’t passed my dual-side PyBots are operational. There is currently a small amount of funds in there for monitoring purposes, but they can be used for ‘emergencies’.
Here are the deposit addresses for the dual side bots:
The PyBots will automatically recognise when funds are added and will place them on the market almost immediately without my intervention. I’m monitoring the bots at least once a day, but usually more often.
We are all convinced (don’t we?) that nubot gateways are the best solution now to keep the peg. But one nubot is not enough, it introduces the “single point of failure” principal. Let aside that it is very stressful for only one operator to be “responsible” for keeping the peg in Poloniex!
Be happy that BTC is not very volatile at the moment, that you have a reliable NuBot configuration, backup operators (Nagalim, me) in case they are needed, a well-funded operation and people who keep an eye on the market and fund your NuBot account if necessary
You do well! Go on!
By checking Alix today i see that sell wall in polo is very thin (compare with buy wall) but only in Polo!
This made me think that perhaps some altcoin traders in Polo are using sophisticated bots which use NBT
as the stable asset during an altcoin betting. Thus the unstable BTC is out of the equation and it is used only as a medium for the trade pairs.
Because the sell side as shown on Coinerella dropped below 35% I am activating a backup liquidity provider. I will convert 10,000 NBT to BTC at NuLagoon Tube momentarily using NBT address BT9AWq9r1i6…
Edit: BTC proceeds were 24.23705, which is eligible for the NSR buyback calculation.
NuLagoon itself is a bit short on buyside, although Tube T1 has excess. If NuLagoon indeed needs to be balanced, FLOT will be able to act quickly. For Polo, FLOT and T3 custodians will take care of the situation, but it’s a structural problem that ALP fails to regulate itself through Tube. The best action now is to perhaps ping @henry and send NBT to moD’s gateway.
It is clear that the reliance on ALPs for highly volatile pairs as NBT/BTC is too big given their inherit performance due to the nature of the provisioning. I think we need ALPs with funds locked for certain amounts of time to keep it decentralised and reducing the risk of Nu funds on the open market. I hope that it will become possible with BCex and/or ALPv2/v3? A model with the shorter the funds are locked the lesser the rewards should address the current issues.
In the mean time the NuBots/PyBots operated with Nu funds needs to be scaled up imo.