Coinerella shows 15 minute buy support is only 34% right now. As a result, I will be transferring 25 BTC to @masterOfDisasterâs gateway within the hour.
FLOT would have to trade first, which is an extension of credit, though admittedly it isnât any worse than other tier 3 alternatives.
FLOT will also require a refund of fees and spread. Then thereâs the issue that one can currently only trade up to about 3000 NBT, which isnât a good use of the signing overhead; I prefer something like 7000 NBT minimum, or basically 5% of total liquidity, at least for FLOT.
If special treatment can be made for the above considerations that would be nice.
In order to make the service of the Tube sustainable, we will have to have resonable revenues by collecting Tube TX fees.
But, we are confident that it will be less costly for Nu shareholders to do liquidity operations through the Tube than tradictional exchange(poloniex)'s gateways
We just inject some fund into the Tube, now 10000 NBT availlabe on its sell side.
ps: The refund fee of NuLagoon Tube is lowed from 1 NBT or 0.01 BTC to 0.1 NBT or 0.001 BTC
I wasnât available to attend the deposit of the BTC.
Two deposits were registered by Poloniex:
Currency Amount Address Date Status
BTC 20.00000000 1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi 2015-12-27 04:30:49 COMPLETE
BTC 25.00000000 1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi 2015-12-27 02:36:00 COMPLETE
The gateway didnât need manual intervention, just work like intended and started creating orders.
08:23:19.562 [Strategy Secondary Task] WARN - Replenishing BUY wall. Since its size has been < 100.0 NBT for more than 15.0 minutes. [c.n.n.s.S.StrategySecondaryPegUtils:597]
08:23:19.565 [Strategy Secondary Task] INFO - initOrders BUY [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
08:23:20.395 [Strategy Secondary Task] INFO - BUY- OrderBook : ----- BUY-side order book :
0.994001,0.0023923,1000.0
BUY wall volume : 1000.0
BUY tier2 volume = 0.0 NBT
Total BUY volume = 1000.0 NBT
Best price :0.0023923 (0.99400065$)
BUY balance left = 11741.23956159 NBT----- [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
08:23:20.398 [Strategy Secondary Task] INFO - Trying to place 1 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
08:23:20.698 [Strategy Secondary Task] INFO - BUY wall order updated. ID : 990421649 size: 1000.0 [com.nubits.nubot.trading.TradeUtils:231]
08:23:20.704 [Strategy Secondary Task] WARN - **BUY** 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]
Close to 7,000 NBT have already been traded.
28.2 BTC are left from the 2 deposits.
Checking the gateway logs I realized that the buy order gets consumed within minutes, but takes some time to get replenished.
The experience for traders would be better if the order size were bigger than 1,000 USD equivalent.
The drawback of increasing the order size would be increased risk in case the internet access of NuBot or NuBot itself had a malfunction that would leave orders at wrong rates.
I donât intend to adjust the order size as I think the 1,000 USD value per order is a viable compromise between risk and peg protection - unless I get convinced to adjust the order size or instructed by a motion to do it.
15,000 NBT has just been sent to @masterOfDisasterâs Poloniex gateway because network wide sell side liquidity had dropped to 35% and Poloniex sell side liquidity was less than 200 NBT.
Thatâs the standard procedure for deposits to my Poloniex gateways - whatever gets deposited to the gateways and converted (or not), gets transferred to a FLOT address;)
Parametric order books. NuBot places numerous orders. One with 1000 NBT with the lowest spread and reports this liquidity as T1.
The rest is placed as T2.OnOrders with a larger spread. NuBot submits this liquidity as T2. ALix also doesnât consider it T1, because itâs > 1.5% away from our 1 USD peg.
Itâs a tricky situation. If you see 1000 NBT figures somewhere on ALix, be sure to check the exchange order book for T2.OnOrders.
It appears that heâs trying something different this time, in order to reduce arbitrage risk due to a faulty or slow NuBot. Personally I think 1000 NBT is a bit too small, not large enough for people to want to send funds into Poloniex for a quick trade.
Itâs hard to tell whatâs T2 from a LP and whatâs an order lurking for a profit by a third party.
Just looking at order books, you wonât see the difference.
Iâm playing with a liquidity info verifier at the moment.
The idea is to verify the liquidity information on T1 and T2 with every block.
Indeed I effectively disabled the parametric order book. But thatâs the case since I started the NuBot gateways.
Single orders sized 1,000 USD value are placed (same for both gateways) close to the feed price.
It would be easy to remove that limit or enable parametric order book functions.
But that would pose some risks (which you already identified) I wouldnât want to take on behalf of Nu.