The Tier 1 sell-side liquidity is critically low.
@henry, could you promote 20000 NBT to Tier 1, and buy 20000 NBT from FLOT, at a rate of 1.00? Thanks.
As of the time of writing:
only 3500 NBT on sell side of Poloniex
getliquidityinfo reports about 19k more funds in buy side than sell side for tier 2 and 3
ALix walls report about 20k more funds in buy side than sell side for tier 1
Can @masterOfDisaster’s NBT exit be used? For once to show it works if @masterOfDisaster doesn’t want - understandablly - this to be a daily job ?
The buy side is greater than the sell side in both NuLagoon and the overall network. We can buy 10,000 NBT from @JordanLee or @FLOT now. Please contact us. Thank you.
I propose to sell 10000 NBT to NuLagoon, at about 0.00234834 BTC each, which is the lowest ask on Poloniex at this moment.
The effective offset is less than 0.2% above 1USD, or about 0.25% above the highest bid (0.00234243). If @henry will deposit 23.4834 BTC to the FLOT BTC address 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG, a member of FLOT NBT group will propose a transaction to an address of @henry’s choosing, which may be published or privately told to FLOT.
FLOT BTC buy side shall refund NuLagoon if the transaction cannot gather the consensus of FLOT.
The justification of this transaction:
“2” : {
“buy” : 12278.53,
“sell” : 2928.8772
},
“3” : {
“buy” : 37502.8638,
“sell” : 26510.0
By the way, shall we assume that tier 3 in getliquidityinfo is always up-to-date?
The walls changed way too quickly this time.
This can be a case for which the NBT entry gateway was made for - if NBT need to be put on T1 at Poloniex and arranging a trade might take too long.
The deposit address is known to FLOT and @JordanLee.
I verified that it is running (by connecting to the session).
Anybody could verify it by looking at the broadcast liquidity information:
nud getliquiditydetails B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 40
"BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
"1:NBTBTC:poloniex:0.3.2a_1449093980642_dd6880" : {
"buy" : 0.0,
"sell" : 0.0
},
"1:NBTBTC:poloniex:0.3.2a_1449696980204_33797a" : {
"buy" : 0.0,
"sell" : 0.0
},
"2:NBTBTC:poloniex:0.3.2a_1449093980642_dd6880" : {
"buy" : 0.0,
"sell" : 0.0
},
"2:NBTBTC:poloniex:0.3.2a_1449696980204_33797a" : {
"buy" : 2.21,
"sell" : 0.0
}
},
[...]At the moment the liquidity situation at Poloniex looks fine. Was it corrected by @henry and @JordanLee in the background or did the market correct itself?
That’s why trying to balance from T4 will never work well.
I didn’t call for direct intervention by T4. For a good part of an hour Tier 1 sell side was basically 0. So I asked NuLagoon to balance it with Tier 3, and then FLOT to balance NuLagoon. By the time I’ve typed up all the above and sorted out some details, it went up to a more normal range. Now Tier 1 is pretty much balanced, though NuLagoon is not.
There was no other good way to swiftly deal with that situation apart from a responsive Tier 3, which is not available right now, whether it’s your gateway or NuLagoon. Luckily that situation didn’t end up threatening the peg, just wasted my time.
I’m aware of that. It was just another good example for the importance of a working multi tier model with working flows between the tiers.
This will even with fixed cost compensation be the case. But the incentive to monitor occasions like that to earn a lot of compensation with only little invested funds will help mitigating this problem.
Right.
[quote=“dysconnect, post:843, topic:1239”]
By the time I’ve typed up all the above and sorted out some details, it went up to a more normal range.
[…]
Luckily that situation didn’t end up threatening the peg, just wasted my time.[/quote]
Which is bad enough that you wasted your time.
Balancing NuLagoon’s T3 (and other T3s that may come) on a weekly basis could be one of the tasks for FLOT (together with the transfer for the NSR buyback) - one for what FLOT in my opinion was created for.
If 3 FLOT members are always available, it could be a matter of minutes to send funds (as a T3 custodian) to MoD’s gateways eliminating the need of negotiations. The time will be consumed to make the agreement between the 3 FLOT members (via a chat channel i guess) and signing the transaction.
show the online time of all FLOT members or timezone he/she can signed
This is only true for sell side. Buy side multisig requires 5 signers.
But more importantly: that’s not what the FLOT should be (ab)used for. The terms of the FLOT members state a reaction time of 36 hours or longer.
The FLOT is not here to defend the balance on T1!
I’d not recommend doing that (sending funds to one of my gateways) to any layer except for T4.
The reason is that using a gateway doesn’t have a fixed rate at which the deposited funds get traded.
NuBot might sell them over time. Whoever sends funds to the gateway will get sent back what’s in the account- - no more no less.
Plus I’d not be able to tell funds apart if more than just one party would deposit funds at different times.
The gateways only work (accounting wise, if different entities want to use them) if all funds that are deposited are withdrawn before another deposit happens.
These buy side / sell side gateways are strictly meant for injecting NBT or BTC directly to T1 on Poloniex in dire situations with significant danger for the peg that can’t wait for negotiations.
Other gateways on other (important) exchanges might follow. I don’t find gateways on other exchanges important enough to draft grants for them and set up NuBots, but this is only due to the fact that I don’t think I can be involved in more operational and design tasks without doing the job badly.
I can only encourage others to think about creating these gateways for other exchanges (or another set of gateways for Poloniex to spread the risk for the funds and to increase availability - my NuBots might crash, etc.)!
Nobody, but Nu (and hence T4) should be interested in using these gateways.
Hardly possible. I can only speak for myself, but I’m not always in advance aware of the time zone I’m in and what appointments I’m involved in. I bet that is not very different for other FLOT members.
And - like said before - this is no situation the community/NSR holders should strive for.
Flows between T1-3 need to be evolved and corrected where necessary.
In an ideal world FLOT would only deal with T3 balancing (and possibly upper layers). This is the world we need to create.
We need a bunch of robots looking at reward rates of all fixed cost pools and ready to move funds from whereever to the most profitable walls. They are made to make profits so they will be viable and distributed (attractive to many people)
A “true” tier 3 should be able to absorb the 36-48 hours of delay. Interests can be paid like for tier 1 if needed, and if there’s a good mechanism for it. Lack of a good tier 3 (before B&C materializes) is a network-wide issue, although no one is to be blamed. It may be something that needs to be carefully designed, before we can settle down on more tightly defined regulations for tier 4.
12:50:23

{
“total” : {
“buy” : 71518.3761,
“sell” : 48340.6071
},
“tier” : {
“1” : {
“buy” : 18265.2426,
“sell” : 11565.7568
},
“2” : {
“buy” : 16552.27,
“sell” : 2512.4862
},
“3” : {
“buy” : 36113.1825,
“sell” : 26510.0
}
I suggest we sell some NBT to NuLagoon at some point.
i would support such sales.
Tier 1 sell side only has 39% right now. We just transfered 10,000 NBT to @masterOfDisaster’s NBT gateway to balance. Please send proceeds to FLOT BTC multisig address 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG.
FLOT sell side please also arrange a trade with NuLagoon. @henry please provide an address for us to send 10k NBT. The first person to create a transaction will propose a price point close to 1.000, perhaps the same as Poloniex lowest NBT ask.
The deposit arrived, but NuBot on sell side gateway had issues:
2015-12-16 06:06:13,275 DEBUG - Executing task on poloniex: StrategySecondaryPegTask. DualSide : true - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegTask:67]
2015-12-16 06:06:14,219 DEBUG - repairOrdersIfNeeded routine - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegTask:81]
2015-12-16 06:06:14,221 DEBUG - returnOpenOrders blocked, another call is being processed - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:589]
2015-12-16 06:06:14,222 DEBUG - Retrying for the 1 time. Sleep for 331; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:14,554 DEBUG - Exchange still busy : 1 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:14,557 DEBUG - Retrying for the 2 time. Sleep for 580; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:15,138 DEBUG - Exchange still busy : 2 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:15,140 DEBUG - Retrying for the 3 time. Sleep for 803; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:15,944 DEBUG - Exchange still busy : 3 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:15,946 DEBUG - Retrying for the 4 time. Sleep for 1294; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:17,242 DEBUG - Exchange still busy : 4 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:17,244 DEBUG - Retrying for the 5 time. Sleep for 1590; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:18,835 DEBUG - Exchange still busy : 5 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:18,837 DEBUG - Retrying for the 6 time. Sleep for 1803; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:20,642 DEBUG - Exchange still busy : 6 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:20,644 DEBUG - Retrying for the 7 time. Sleep for 2070; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:22,715 DEBUG - Exchange still busy : 7 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:22,717 DEBUG - Retrying for the 8 time. Sleep for 2313; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:595]
2015-12-16 06:06:25,032 DEBUG - Exchange still busy : 8 .Will retry soon; Method=returnOpenOrders - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:610]
2015-12-16 06:06:25,034 ERROR - Method=returnOpenOrders failed too many times and timed out. attempts = 8 - [Strategy Secondary Task - c.n.n.t.w.PoloniexWrapper:615]
2015-12-16 06:06:25,036 DEBUG - ApiError [3 : No Connection] - [Strategy Secondary Task - c.n.n.m.PairBalance:207]
2015-12-16 06:06:25,038 INFO - Sell-Wall size : : 0.0 NBT - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegUtils:538]
2015-12-16 06:06:25,041 DEBUG - SELL-wallh: 0.0 initialH:2.2 threshold : 0.22000000000000003 - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegUtils:585]
2015-12-16 06:06:25,042 DEBUG - SELL Liquidity below threshold for 8.0/15.0 min - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegUtils:592]
2015-12-16 06:06:25,044 DEBUG - Cannot find orderid of BUY wall - [Strategy Secondary Task - c.n.n.m.PairBalance:211]
2015-12-16 06:06:25,045 INFO - Buy-Wall size : : 0.0 NBT - [Strategy Secondary Task - c.n.n.s.S.StrategySecondaryPegUtils:543]
2015-12-16 06:06:26,655 INFO - Executing class com.nubits.nubot.tasks.CheckNudTask - [checkNud - c.n.n.t.CheckNudTask:37]
2015-12-16 06:06:26,659 DEBUG - RPC : {"method":"getinfo","id":"4912f3f4-e824-43e2-86f7-ce89b0d0669d"} - [checkNud - c.n.n.R.NuRPCClient:271]
2015-12-16 06:06:26,661 DEBUG - RPC executing request :POST http://127.0.0.1:9091 HTTP/1.1 - [checkNud - c.n.n.R.NuRPCClient:275]
2015-12-16 06:06:26,704 DEBUG - RPC---------------------------------------- - [checkNud - c.n.n.R.NuRPCClient:280]
2015-12-16 06:06:26,706 DEBUG - HTTP/1.1 200 OK - [checkNud - c.n.n.R.NuRPCClient:281]
2015-12-16 06:06:26,708 DEBUG - RPC : Response content length: 422 - [checkNud - c.n.n.R.NuRPCClient:284]Restarted NuBot
06:11:08.729 [Strategy Secondary Task] INFO - initOrders SELL [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
06:11:10.103 [Strategy Secondary Task] INFO - SELL- OrderBook : ----- SELL-side order book :
1.006,0.0022266,1000.0
SELL wall volume : 1000.0
SELL tier2 volume = 0.0 NBT
Total SELL volume = 1000.0 NBT
Best price :0.0022266 (1.006000146$)
SELL balance left = 9000.0 NBT----- [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
06:11:10.108 [Strategy Secondary Task] INFO - Trying to place 1 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
06:11:10.417 [Strategy Secondary Task] INFO - SELL wall order updated. ID : 862310888 size: 1000.0 [com.nubits.nubot.trading.TradeUtils:231]
06:11:10.442 [Strategy Secondary Task] WARN - **SELL** orders re-initialized on **poloniex** : 1/1 placed successfully
total amount placed : 1000.0
Tier1 order size : 1000.0
Tier2 cumulative order size : 0.0 (0 orders)
[c.n.n.s.S.StrategySecondaryPegUtils:246]Now everything is fine.
Will do.
Hi @Dhume
The current total liquidity in the Nu network is:
Bid: 74724.9691 NBT (57.58%)
Ask: 55056.7884 NBT (42.42%)
It is broken down in the following manner:
Tier 1:
Bid: 17941.5859 NBT
Ask: 14041.6681 NBT
Tier 2:
Bid: 18465.77 NBT
Ask: 2034.7562 NBT
Tier 3:
Bid: 37729.9322 NBT
Ask: 31228.0 NBT