[Draft]NbtChina.cn provision on NBT/CNY on Bter.com

NuBits
#1

Proposal RIPEMD160 hash: xxxxx

=##=##=##=##=##=## Custodian Hash starts with this line ##=##=##=##=##=##=

Custodial Address: xxxx
Amount Requested: 750 NBT
Fund request to operate NbtChian.cn a liquidity pool for NuBits.

利率(6%)

资金池使用于Bter.com的NBT/CNY,最大不超过10000NBT,时间为30天,每月6%(每天0.2%)的利率;

赎回和购买邮件请发送到admin@diandianbi.org,说明需购买和赎回的金额,每周六24点前将处理完毕,其它时间将不处理类似请求

费用(1.5%)

150NBT支付域名费,服务器费以及每周结算费用

报告

将于每周六提供相关保管报告,包括资金总量、赎回和购买情况

风险说明

由于Nu网络目前处于实验状态,请谨慎投入资金

Interest rate (6%)

Pools of capital used in Bter.com of NBT / CNY, a maximum 10000NBT, for 30 days, 6% (0.2% per day) Monthly rate;

Redemption and purchase e-mail please send to admin@diandianbi.org, described the amount required to purchase and redemption, every Saturday will be disposed of before 24 o’clock, other times will not deal with a similar request

Cost (1.5%)

150NBT pay domain fees, server fees and settlement costs per week

Report

Saturday will provide custody reports, including the total amount of funds, redemptions and purchases

Risk Description

Since Nu network is currently in the experimental state, cautious investment

=##=##=##=##=##=## Custodian Hash ends with this line ##=##=##=##=##=##=

6 Likes
#2

Fiat pair is key. I strongly support that.

#3

It would be great to have another fiat pair, especially if BTER can re-emerge as a serious exchange.

Just to clarify - would BTER be providing the liquidity funds, or would they just be creating a NBT/CNY trading pair for the Chinese Nu community to place liquidity on? Either way, if they are asking for 7.5% compensation that falls well in line with current liquidity rates being charged by our pools. I’m excited to see this happen.

@Jmiller do you have any concerns with liquidity operations taking place on BTER?

#4

It is ready for that pair and CNY tracking. I am willing to guide anybody to setup

#5

It’s good to see another fiat pair. Thanks for contacting the exchanges.

I think the fee maybe should go down after the trial period because volatility of CNY/USD is hundred time smaller than BTC/USD, so exchange rate risk is hundred time smaller, and there should be minimum exchange default risk for exchange supported LPC.

1 Like
#6

Oh wow, I did not expect this to happen anytime soon.
Maybe Bter just wants to assert their good faith in Nu and try to give back on what they lost. Anyway, thanks for asking them. This is certainly a good step.

Btw, we do not need to vote on this proposal right? All Bter needs to do is to come here and propose being custodian with the proper motion and all.

#7

I think @benjyz has a point here

Of course BTER could fund an independenly operated LPC.

#8

I feel I should point out that I’m working on a liquidity pool for bter. I was just going to use btc/nbt though and do it as a test run but I can totally cover nbt/cny. I’m still working on server bugs though.

#9

I’m working on a liquidity pool for bter.

Interesting! Is it for NuBits only?

Are you writing another software platform? I wonder why not joining force with existing contributors.

#10

Oh yah its totally on the books using NuPool. I’m working with @woolly_sammoth to get it up and running, we just did our first troubleshooting session together last night. We’re close, he got some validations on his client.

1 Like
#11

保管人投票通过后，Bter.com 将开通NBT/CNY，并0.1% trade fee

同时请@desrever 支持nubot的NBT/CNY

After the vote by the depositary, Bter.com will open NBT / CNY, and 0.1% trade fee

Please @desrever support nubot of NBT / CNY

#12

I can set up a grant of similar size for NBT/CNY (500 NBT buy/sell). I’d need to explore the fiat version of the Pybot, and I would probably try to do something like 3%/month (.1%/day) and would attempt to reduce the allowed spread down to 0.25% to either side of the target price.

Edit: Sorry, I hadn’t realized this was a custodial draft. Bter will run the bot themselves? I’m confused on if this is TLLP or not, will they be providing liquidity?
I think 6% monthly is a lot, considering they have no volatility or exchange default risk (they are the exchange).

#13

This is good news, if there is financial support, we can first open NBT / CNY

Note: I am not bter employee, but I have made them agree to apply capital pool support, then opening trade pair

2 Likes
#14

@wengone, as I wrote earlier, the bot already support that pair, although I have no way of make a production test until there is an actual pair on bter @ https://bter.com/trade/nbt_cny . If you open that pair I can test it

#15

http://cn.bter.com/trade/NBT_cny @desrever can test it ?

@Nagalim can liquidity pool for bter /NBT_cny ?

#16

I will be happy to hash my motion once @desrever has tested the bot some.
Note that I am not offering the compensation or target Bter was hoping for. I think it’s irresponsible to give this pool the same reward as NBT/BTC pairs.

#17

I could test 0.3.0 quickly earlier, but unfortunately I don’t have CNY nor BTC assets on bter to make proper testing.

I set the pair to nbt_cny , and set the price tracking as following

 "mainFeed": "yahoo",
   "backupFeeds": [
     "Openexchangerates",
     "Exchangeratelab"
   ]

The bot seems to (try to) intialize fine.

10:38:58.343 [Strategy Crypto Task] INFO  - Initializing strategy [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegTask:130]
10:38:58.344 [Strategy Crypto Task] INFO  - setting up ordermanager [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegTask:131]
10:38:59.142 [Strategy Crypto Task] INFO  - Cannot find a balance for currency with code NBT or CNY in your balance. NuBot assumes that balance is 0 [com.nubits.nubot.trading.wrappers.BterWrapper:219]
10:39:00.553 [Strategy Crypto Task] INFO  - initOrders SELL, price 6.21973929 [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:182]
10:39:01.911 [Strategy Crypto Task] WARN  - Submitting limit order : SELL side order :  SELL 1.5 NBT @ 6.21973929 CNY [c.n.n.s.OrderManager:255]
10:39:01.912 [Strategy Crypto Task] INFO  - executeSellsideOrder : nbtcny 1.5 6.21973929 [com.nubits.nubot.strategy.OrderManager:209]
10:39:02.825 [Strategy Crypto Task] INFO  - Strategy - Order success: SELL Response = 11945792 [com.nubits.nubot.strategy.OrderManager:273]
10:39:03.750 [qtp1881368156-30 - //localhost:4567/balances] INFO  - Cannot find a balance for currency with code NBT or CNY in your balance. NuBot assumes that balance is 0 [com.nubits.nubot.trading.wrappers.BterWrapper:219]
10:39:08.537 [Strategy Crypto Task] WARN  - Submitting limit order : SELL side order :  SELL 1.5 NBT @ 6.21973929 CNY [c.n.n.s.OrderManager:255]
10:39:08.538 [Strategy Crypto Task] INFO  - executeSellsideOrder : nbtcny 1.5 6.21973929 [com.nubits.nubot.strategy.OrderManager:209]
10:39:09.455 [Strategy Crypto Task] INFO  - Strategy - Order success: SELL Response = 11945816 [com.nubits.nubot.strategy.OrderManager:273]
10:39:09.457 [Strategy Crypto Task] INFO  - initOrders BUY, price 6.19490999 [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:182]
10:39:10.133 [Strategy Crypto Task] WARN  - Cannot find a balance for currency with code CNY in your balance. NuBot assumes that balance is 0 [c.n.n.t.w.BterWrapper:234]
10:39:10.134 [Strategy Crypto Task] INFO  - No need to execute BUYorders : available balance < 1 CNY (1 NBT equivalent).  Balance : 0.0 [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:208]
10:39:10.134 [Strategy Crypto Task] INFO  - Strategy initialization completed [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:149]

Can someone with CNY and BTC funds make some more test please? My time is very very limited today.