Current Liquidity

Liquidity
#658

There seems to be a discrepancy between getliquidity info and https://alix.coinerella.com/walls/

But I agree that Tier 1 is arguably balanced.

I also feel the discount price 0.97 offered by FSRT is reckless - the difference is equal to more than 10 days of Tier 1 liquidity provision. If around 35k NBT were sold at this price, Nu would have just lost more than 1000 NBT, enough to support the entire FLOT for 1 month. This is poor accounting and a poor incentive design to get people to work for the interests of the broader body of shareholders.

I have said repeatedly that the lack of interest isn’t because the NBT is too expensive at 0.99 or even 1.00, but rather the people you reach here aren’t the best people to sell NBT to. During times of NBT demand, there’s usually an excessive amount of BTC in liquidity pools. LPs have an incentive to switch to NBT at the standard price = 1.00 so they can earn the full interest and want to reduce their exposure to BTC. If those can’t be reached, there’s NuLagoon. If you want to deal with a crisis, @nagalim’s approach may be preferred.

I strongly discourage FSRT and FLOT in engaging in these discounted sales of NBT in the future. This will be reflected in an amendment to the FLOT charter in a future motion. If more liquidity needs to be brought into Poloniex, I will offer to do something similar to @nagalim, and I have higher withdrawal limits on Poloniex, and I can even put up a BKS collateral.

1 Like
#659

I am trying to incentivize medium to large liquidity providers and others in our space with relatively deep pockets to give this a try. It is the kind of thing that can be a little intimidating the first time, while seeming easy the second time. Comments from NuBit buyers lead us to believe lack of sell side liquidity on Poloniex has significantly impaired sales.

Nagalim has been very helpful, but we are talking about the network extending credit with this approach, and that isn’t positive. Ideally, the network should never extend credit.

The sell side on Poloniex is currently below 4,000 NBT. We are still looking to sell.

#660

Wondering how many nubits are in the wild now (that might request immediate buy back) and how many btc/ppc are in Tier4…to back those nubits…

#661

I am afraid we have to clarify that NuLagoon uses Nu client’s liquidity info as official informations to make decisions, and NuLagoon have to manage its funds according to the rules which has been published and approved by Nushareholders. We will only buy more NBT from Tier4 when total sell is less than total buy.

#662

I still have 9000 nbt, it is only not on the wall when my bot does stupid things.

#663

An additional 5.9 BTC was received for 1991 NBT. The trade was agreed to nearly a day ago, but just finalized.

The last trade we initiated was with Nagalim around 20 hours ago.

Because the walls are balanced, we are not selling NBT at this time.

The lowest price at which NBT was actually sold was $0.990.

1 Like
Demand based liquidity
#664

Order book liquidity is nearly 50:50 right now. Great job everyone!

4 Likes
#665

According to Coinerella 15 minute figures, network wide sell side is less than 38%. Poloniex sell side is only 17% of that market. Therefore, we are seeking to sell NuBits to someone who will make them available at Poloniex. @henry can NuLagoon assist at a price of $0.994?

1 Like
#666

1626 NBT have been sold for 5 BTC. Because liquidity hasn’t yet balanced after crossing our threshold for sales 15 hours ago, we are still selling for $0.994.

1 Like
#667

@assistant liquidity

#668

@assistant wakeup

{
   "time":1448042015,
   "blocks":623125,
   "total_buy":61460.1116,
   "total_sell":67639.2696,
   "tier1":{  
                    "buy":17150.686,
                    "sell":19816.4498
        },
   "tier2":{  
                    "buy":3015.46,
                    "sell":10197.4557
        },
   "tier3":{  
                    "buy":36700.9661,
                    "sell":29873
        }
}
#669

Wow… how big is the next buyback going to be??!
I’m eager to find out.

1 Like
#670

Would be easy to guess if the T4 BTC address were known…

1 Like
#671

2500 NBT was sold for 7.6148 BTC. With the sell side at 47%, we will stop NBT sales now.

1 Like
#672

@assistant liquidity

#673

Hi @huafei

The current total liquidity in the Nu network is:

Bid: 57362.4726 NBT (44.21%)
Ask: 72396.0646 NBT (55.79%)

It is broken down in the following manner:


Tier 1:
    Bid: 14653.1564 NBT
    Ask: 24564.9648 NBT

Tier 2:
    Bid: 2908.69 NBT
    Ask: 10205.7357 NBT

Tier 3:
    Bid: 36997.9194 NBT
    Ask: 29873.0 NBT
#674

perhaps we will need to do the opposite with FSRT/FLOT?
to sell them NBT for BTC?
BTER has a really unbalanced sell/buy wall!

#675

I have sent the rest of the btc from the $10k fsrt sent me. I still have like $3 remaining in the polo account, but I started with 2 nbt of my own money, so whatever. I now have level 3 verification on polo, but would kindly ask to be excluded from nubit sales for a little while, hopefully until a motion with a proper contract comes out.

#676

I know I’m trivializing an important issue, but I’m not that concerned with this. I’m paying 10 nbt/day on buy side support, which has about 2500 nbt. This gives a 0.4%/day rate. Yes this is higher than a lot of other pools. However, when you think about how unbalanced some of the other pools get, The bter pools seem to ride the 0.2%-0.4% rate for the more difficult sides of the peg. I am not all that surprised by those rates, especially on bter where we know it’s hard to get LPs to deposit.

Do people think there is an actual asymmetry on bter btc/nbt that isn’t there on other pools? Meaning, are people more comfortable depositing nbt than btc? If that’s the case, I can try out asymmetric pool rewards like 15 nbt/day buy and 5 nbt/day sell.

#677

I had my concerns about this from the start. Fixed cost is expensive on less popular exchanges. Still not sure whether it is the best way to go and think it is a step back from the Dutch auction method. But we have been here before…

Worth trying, interested to see the results in such an experiment on another exchange. I have an asymmetric setup for LiquidBits on the NBT/BTC pair on CCEDK. This assumed that the risk holding BTC is higher than holding NBT. However in times of scarce NBT this had a temporary adverse effect.