FLOT BTC Operations (buy side)

[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.

[masterOfDisaster]

30.35 BTC from my Poloniex gateway account to FLOT multisig address 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe; tx ID 019e9bf9e4bd93444192a3a31326af75c43c63719f589d81d4f61f9142ff0e67

[masterOfDisaster]

4.31 BTC (at 464 USD/BTC eq $2,000) to Cybnate’s Poloniex gateway

Just in case @Cybnate is in favor of this proposal:

Current Liquidity

What about $2,000 in BTC to your Poloniex account in exchange of 2,000 NBT?

Signed 1 of 5/8

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

Please verify and sign.

Reasoning:
network wide the liquidity is more or less balanced with a slight overweight on buy side, but the Poloniex gateway operations are almost empty on buy side:

Mon Apr 25 20:13:08 UTC 2016
###
status of the gateways in total:
bid total 1230 USD, bid side ratio 6%
ask total 17670 USD, ask side ratio 93%

This output includes the PyBot funds from Bittrex.

Bot status Poloniex only:

Mon Apr 25 20:23:32 UTC 2016
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 0.0,
            "sell" : 0.0
status of zoro dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo -A 2
        "BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo" : {
            "buy" : 1.02,
            "sell" : 13646.1263
status of Cybnate dual side PyBot at Poloniex:
nud getliquiditydetails B | grep B954pkUEdkeT1G5Lq14Cisij5no3RVxHYe -A 20 | grep poloniex -A 2
        "1:NBTBTC:poloniex:LiquidBits" : {
            "buy" : 0.0,
            "sell" : 2000.0

[jooize]

Signed 2 of 5-of-8

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

[mhps]

Moreover, gateways are the last NU defensethus it is mandatory to have a non zero wall at all times!

Is there a motion for this statement? The overall wall liquidity being buy>sell, I think injecting more btc is not a good idea.

[masterOfDisaster]

I’d rather trade NBT at NuLagoon than letting gateways sit with empty buy sides.

[Nagalim]

Is there a motion for this statement?

No. The only motion ruling when FLOT deposits to gateways is the FLOT motion itself, which specifies a global liquidity of 40% before injecting funds.

Tier 4 Fund Management Discussion

BTC will be used to purchase currency when a specific currency’s buy side funds falls below 40% of total liquidity in tiers 1, 2 and 3 for that currency. The currency proceeds will be placed in the multisig currency address controlled by FLOT.

The preceding should be interpreted as guidelines, and FLOT may exercise discretion. Communications between FLOT members regarding decisions on how to use funds must be publicly visible.

[dysconnect]

Let’s also trade about 5k NBT with NuLagoon while sending in those buy funds.

[zoro]

Is there a motion for this statement?

No. It is up to FLOT how the gateways are used. I just made a statement regarding prior experience about ALP and MLP liquidity. ALP may stand down whenever the users see fit. NU Lagoon may have a nubot outage at any time (as any gateway) thus the more wall makers we have, the better

[masterOfDisaster]

Signed 4 of 5-of-8 01000000056dadbbac613e6b3ee6bae80cadec26124b93bab837d2399543dff970500b347a01000000fd39020047304402201a0a318acc0742b4e03f4e38b144903cc6108157bb60ca32b1736e256d92d41b02201303f69796963ac60027f796c37af0fd1429e0ccee09d5fb3c9122510a662b9d01483045022100f3b9673ce8ca7c3b2add2e998a127acceac663eddd8ce9b93734942251b618c80220378f7989f76ac613517840e123d159cf3c2bf88d2f125085bf6fd1262be6d9750147304402207e45d8f779b90ac981656899f8cf35344f53479639bf2f2fe1afc697b84a4753022036beeb9568022dc5875…

needs one more signer (or three more votes against signing it).

@cryptog, @Dhume, @jooize and me signed it.
@mhps expressed why he doesn’t want to sign it.

@ttutdxh, @woodstockmerkle, @dysconnect what about you?
I’d like to see a reason why you are reluctant to signing this tx that was initiated almost two days ago (Apr 24, 11:04 PM) or your signature