The 15min average on alix is 37% in that image. As an FLOT member, do you @masterOfDisaster not think we need a rebalance txn now? You have the authority to say as much.
Currently Tier 3 is mostlytheoretical so I hope some FLOT members can help trading with Tier 1/2 LPs.
I sit between two chairs as such.
Sufficient orders in buy and sell sides at all exchanges that are officially supported by Nu (by paying for liquidity operations there) are important and would like to balance them over and over to keep them balanced.
The screenshot shows T1 that is really on the order books.
getliquidityinfo showed
"total" : {
"buy" : 73542.1449,
"sell" : 59820.813
},
"tier" : {
"1" : {
"buy" : 20701.8288,
"sell" : 18230.7223
}One Poloniex side is low, while on other exchanges the situation is vice versa.
The decentralized design of the FLOT will make the FLOT always slow in balancing walls, especially in times of rapid BTC/USD rate changes maybe too slow.
Nu needs fixed compensation rather sooner than later (ideally with the opportunity to temporarily increase compensation for a low side) as well as a supporting T3.
This is nothing the FLOT or @JordanLee should be concerned with.
But until we have fixed compensation and a working T3 scheme, the FLOT needs to try to balance this.
so you do agree that a txn needs to be made today? i would suggest that we need to move $10k to buy side.
This is not ideal, but it will give FLOT practice and shareholders confidence that they can act responsibly in time of need. Also, the FLOT needs to get together to sign the NSRbuyback Txn today anyway, so itâs actually kind of convenient to do both at the same time.
I agree with @Nagalim lets move some funds to polo buy side, and the 39.9 BTC that needs to go to NSRbuyback.
As the walls are more or less 3:1 (30 BTC / 10 BTC), removing roughly 10 BTC value from the sell side and putting 10 BTC on the buy side should be a good start - at least if we speak of interacting with T1.
If we could find someone selling NBT from T2 or T3 and putting the BTC on T1 buy side, the FLOT could buy 20 BTC worth of NBT and have them put on T1.
Q: how many time will FLOT group take to sign a txn?
1 Like
5 of 8
sorry , i mean how many hours will take?
It depends on how fast the FLOT members are aware of the situation and are ready to sign.
By terms most have 36 hours for that.
This deals with BTC and the multisig requires 5 of 8 signatures to move funds.
Another reason why Nu shouldnât rely on the FLOT for balancing (temporarily?) imbalanced T1 wallsâŚ
The FLOT is just not made for that!
1 Like
The tough part is volatility, which is a problem whether we deal with T3 or T1. Weâll need to take into account the price swings, and I guess we need to come up with protocols to handle that.
1 Like
Perhaps T1 LPs should continue to contact FSRT and Jordan until T3 custodians become reality?
MoD is right about T4 (FLOT) and T1 interactions.
1 Like
I think the effect of fixed compensation is even more important for situations like the current one.
Would you be willing to do business with the FLOT - sending NBT to a T4 FLOT address and receiving BTC in turn to put the BTC to Poloniex buy side?
Currently we have 2 FLOT members and no FSRT or JL. What MoD said about FLOT is just as true for FSRT and JL. FLOT needs to sign the other Txn for buybacks today or tomorrow anyway.
1 Like
What do you mean we donât have FSRT and JL? FLOT is very new to just replace them already!
They havenât commented, I can only assume they arenât watching. We have them on the long term, I was just talking about whoâs here right now.
1 Like
FLOT is not working at weekend ? but market time is 7x24:stuck_out_tongue:
1 Like
Now you realize why the FLOT or Jordan or any other single instance is not able to keep the pace.
[kiddinMode]
Thereâs no hard coded threshold at which the FLOT needs to be active (I was trying to establish that to no avail) and even if, the members have - based on the terms of their contract - more or less 36 hours to sign a transaction 
[/kiddinMode]
The FLOT is already actively working on this 