FLOT BTC Operations (buy side)

[zoro]

Gateways have nothing to do with Alix. They operate in a wider offset. Moreover, gateways are the last NU defense
thus it is mandatory to have a non zero wall at all times!
@masterOfDisaster, i don’t see your nubot’s buy wall in orderbook of Polo, why?

[Nagalim]

As long as there is sufficient buy liquidity in the network FLOT is under no obligation to act. I don’t see a buy-side problem on poloniex right now, and certainly not in the broader network.

[mhps]

As long as there is sufficient buy liquidity in the network FLOT is under no obligation to act.

I hope there will be a robot doing the simple part of liquidity balancing of FLOT’s work. Then we can afford fine grained balancing of every gateway.

[masterOfDisaster]

I don’t see the need for FLOT to balance individual gateway/pool.

Balancing Poloniex gateways can be important even if the rest of the network is rather balanced, because the Poloniex gateways provide a line of defence on the exchange, which is the most important exchange for Nu at the moment:

With regard to redundancy it’s important to have funds on more than one gateway there.
There’s @Cybnate’s PyBot at Poloniex as well, but with only little funds compared to what’s available at @zoro’s or my gateway account.

As long as there is sufficient buy liquidity in the network FLOT is under no obligation to act.

I don’t see an obligation to act either. There’s no rule in place that demands an action from FLOT.
Stll I consider having funds on both sides of multiple gateway accounts important.
If that redundancy is considered superfluous, it would be better to tear down redundant operations.

@masterOfDisaster, i don’t see your nubot’s buy wall in orderbook of Polo, why?

There are open orders:

But t looks like I need to restart NuBot, because they don’t get moved:

06:13:17.116 [checkOrders] ERROR - Method=returnCompleteBalances failed too many times and timed out. attempts = 8 [c.n.n.t.w.PoloniexWrapper:615]
06:13:17.119 [checkOrders] ERROR - ApiError [3 : No Connection] [c.n.n.s.BalanceManager:33]
06:13:17.121 [checkOrders] ERROR - java.lang.Exception: ApiError [3 : No Connection] [c.n.n.t.CheckOrdersTask:167]
06:13:28.287 [checkOrders] ERROR - Method=returnOpenOrders failed too many times and timed out. attempts = 8 [c.n.n.t.w.PoloniexWrapper:615]
06:13:28.308 [checkOrders] ERROR - ApiError [3 : No Connection] [c.n.n.s.OrderManager:295]

edit:
fixed

[Cybnate]

There’s @Cybnate’s PyBot at Poloniex as well, but with only little funds compared to what’s available at @zoro’s or my gateway account.

I’m only sell side with $2,000 T1 Poloniex. Buy side has been gone for a while. Total funds ~4,200 NBT

[masterOfDisaster]

As a FLOT member, I’m requesting to withdraw all NBT and BTC funds to effectively cease my NuBot dual side operation on Poloniex.
It slipped our attention that this operation is beyond its grace period since 2016-04-20:

[Passed] NBT EXIT gateway on Poloniex provided by @masterOfDisaster

The gateway was activated on 2016-03-05: Beginning 2016-04-20 this the operating fee of the gateway is 15 NBT/day: The fee of 15 NBT/day applies as well, if the gatetway operation is ceased before the 45 days passed and the gateway gets activtated again.

The 45 days of free operation are over and as having 2 well-funded NuBots on Poloniex isn’t considered necessary (otherwise the deposit to @zoro’s gateway account should’ve been processed), we should decommission my NuBot and provide @zoro’s with funds.
I will of course only withdraw to FLOT addresses.

I recommend that at least 4 additional FLOT BTC group members chime in to this request. That would be sufficient to request both the NBT and the BTC withdrawal from my NuBot account (all NBT group members are BTC group members as well) and to cease the gateway operation.

[dysconnect]

I’ll support that unless shareholders are willing to accept a reasonable premium of maintaining the service.

[masterOfDisaster]

I’ll support that

That makes 2 of 5 necessary votes from FLOT members to cease operation, 0 votes to continue operation with 6 votes left.

unless shareholders are willing to accept a reasonable premium of maintaining the service.

That would require NSR holders to draft a motion soon that anticipates or overrides the decision of FLOT, which I suppose will be to cease operation of the gateway.

The recent weeks have shown that there’s is some demand for having redundancy at Poloniex (after the months before have showsn that there’s need for gateways at Poloniex).
Having my NuBot for emergencies only doesn’t seem to be sufficient - otherwise it wouldn’t have been used constantly since 2016-03-05.

I want to wait for the vote of other FLOT members or even a motion from NSR holders to decide the fate of my gateway before I consider creating a draft for a regular NuBot operation at Poloniex.

[cryptog]

I want to wait for the vote of other FLOT members or even a motion from NSR holders to decide the fate of my gateway before I consider creating a draft for a regular NuBot operation at Poloniex.

I am fine with you stopping your free operations on Polo ans shift to a paid regime.

[masterOfDisaster]

I am fine with you stopping your free operations on Polo

That makes
3 of 5 necessary votes from FLOT members (@dysconnect, @cryptog, @masterOfDisaster ) to cease operation,
0 votes to continue operation with
5 votes (@Dhume, @jooize, @mhps, @ttutdxh, @woodstockmerkle) left.

[jooize]

We have two more dual-side gateways at Poloniex by @zoro and @Cybnate. Do we need a third, e.g. @masterOfDisaster’s one?

I want to make sure the liquidity is under control before decommissioning your gateway. Can we have you send directly to the other gateways?

Does Nu owe @masterOfDisaster 75 US-NBT?

[zoro]

Yes, we need as much gateways as possible. I hope @Nagalim fix his nubot too.

[Nagalim]

I’m not intending on getting my gateway running properly any time soon. I don’t see a deficiency of gateway providers. In a few months I may seek a more active role in gateway provision.

[jooize]

13.2 BTC to @zoro’s Poloniex gateway account

Signed 4 of 5-of-8

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[masterOfDisaster]

We have two more dual-side gateways at Poloniex by @zoro and @Cybnate. Do we need a third, e.g. @masterOfDisaster’s one?

I don’t know. Considering that almost all US-NBT trades happen on Poloniex, I think this exchange is important.
At the moment the liquidity is provided by ALP (NuPool; still having some trouble as it seems), NuLagoon and 3 bots (2 NuBots, 1 PyBot).
I think my NuBot isn’t really necessary. It’s a redundant operation that was gratefully accepted the last 6 weeks, because it was free of cost.

I want to make sure the liquidity is under control before decommissioning your gateway.

You can never know

Can we have you send directly to the other gateways?

I fear that violates the motion on which my gateway operation is based upon:

[Passed] motion to permit dual side NuBot on Poloniex

End of operationOperation is ceased by request of withdrawal of all funds or if operator sends all funds to FLOT multisig address(es). NuBot is put on standby afterwards.

I agree that it would be convenient to have me send the funds directly to @zoro’s gateway, but I’d prefer sticking to the terms. I’ll withdraw the NBT and BTC to FLOT multisig.

Does Nu owe @masterOfDisaster 75 US-NBT?

Depending on how you calculate (I think 2016-04-20 was the first day for which the daily fee applied) it’s 75 NBT or 90 NBT until today.
I thought about waiving the fee, but after thinking twice (and reminding me of how important it is to keep the awareness of NSR holders high), I tend to raise the daily fee.

[zoro]

Now the thing is that with 15nbt/day we could have 3-4 different nubot gateway operators. But sadly, i don’t see new offers!

[mhps]

I support the decommissioning, the fee, and thanks moD for his pioneering work.

[jooize]

I fear that violates the motion

Ahh, go with that then.

I thought about waiving the fee, but after thinking twice (and reminding me of how important it is to keep the awareness of NSR holders high), I tend to raise the daily fee.

I agree you shouldn’t waive the fee. You gave a long grace period, and it may put some pressure to improve tracking of these events. We should have a calendar. I began playing a little with one for FLOT cycles, but didn’t enjoy doing it in Calendar.app.

[Dhume]

I also support the decommissioning and very much urge MoD to take the well earned fee. You are already doing way to much for free MoD!

Part of the reason is also I feel we’re very high on the amount of liquidity we offer, we’re offering well over 210k liquidity (buy and sell combined) which I feel is a bit much.

[masterOfDisaster]

One more thing regarding:

I want to make sure the liquidity is under control before decommissioning your gateway

My gateway will be on standby after FLOT requested a complete withdrawal of funds. It won’t be completely unavailable:

[Passed] motion to permit dual side NuBot on Poloniex

Compensation scheme
The operator charges no fee for this operation for the first 45 days of operation.If the operation hasn’t been ceased by request of either NSR or FLOT after those 45 days passed, a fee of daily 15 NBT applies for the next 30 days, increasing 5 NBT per day each subsequent 30 days.The fee will be taken from funds on the exchange account if sufficient funds are available or raised by grant.If the operation is ceased by FLOT or NSR holder request and started again afterwards, this grace period won’t be applied again.

It can be activated on short notice.

I support the decommissioning

I also support the decommissioning

That makes
5 of 5 necessary votes from FLOT members (@dysconnect, @cryptog, @masterOfDisaster, @mhps, @Dhume ) to cease operation,

I’ll withdraw the NBT and BTC to FLOT multisig soon and have the gateway unattended on standby afterwards.