FLOT BTC Operations (buy side)

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.

You can never know :wink:

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

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.

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.

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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!

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

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Ahh, go with that then.

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.

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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.

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One more thing regarding:

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

It can be activated on short notice.

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.


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

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:

Signed 1 of 5/8


Please verify and sign.

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
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Signed 2 of 5-of-8


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

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

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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.

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

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 :wink:

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 :wink:

by the way i think that this tx is not necessary at the moment since the buy side is higher than the sell side.

I created this tx just following the non-motion non-grant logic of keeping gateways funded on each side.


I am not sure whether to sign it right now because it feels we are depleting T4 while the overall liquidity is okay. We need to take back some funds we’ve sent into NuLagoon before, unless we think BTC will drop and believe that NBT sales will solve the problem.

Though the main reason was that we weren’t pinged and I didn’t notice this transaction didn’t go through… :sweat_smile:

You’re right. Keeping the overall balance in the view is important.
But keeping gateways funded is important, too.

Well done to create an NBT -> BTC exchange tx at NLT (NuLagoon Tube).

This might help getting the 13.2 BTC deposit done:

After 7,000 NBT were traded at NLP, there should be little reason not to deposit funds at @zoro’s gateway, right?

FLOT members need to follow the development closely :sweat_smile:

If it had been an emergency, I’d have paged the FLOT members who can sign it; but I saw no emergency.
I only paged them recently, because I wanted to raise awareness to this tx.

There will then be strong reason. But if I have to choose one depleted gateway and almost delepleted T4 when overall there is an overall balance, I will keep the coins in T4.
Remember a year ago when the buy side liquidity was low, we let bittrex run drry for days in a row.