NuLagoon has too much sell liquidity.
I’m taking FLOT’s advice here 
Just transferred the maximum of 1995 NBT to BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js. Will transfer the remainder later.
The liquidity situation got derailed by BTC’s price jump.
The buy side is almost empty (except for e.g. @zoro’s NuBot gateway at Poloniex):
status of the ALP last 15 minutes:
bid total 7807 USD, bid side ratio 6%
ask total 116152 USD, ask side ratio 93%
I propose trading 65 BTC at NuLagoon Tube to balance the situation.
That leaves a remainder of 15 BTC that might be useful to fund gateways if need be.
65 BTC ($30,732) to NuLagoon Tube and 4.23 BTC ($2000) to Cybnate’s Bittrex PyBot account
Signed 1 of 5/8.
Please verify and sign
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Paging @cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle
4 Likes
I thought that my comment could lead to this result.
And I seriously didn’t want to bring you up with it. I was rather trying to show that I only try to find good solutions even if they are subject of discussion.
Receiving the funds at FLOT’s NBT address was not really the direct result I tried to get, but thank you for doing it this way 
Please let me know what you were after. It is is the first time a withdraw something so I was genuinely not sure about the address to use.
Can I also balance the PyBot on Bittrex? I’m good to transfer about 2000 NBT in exchange for BTC. Is that ok?
Please let me know if it is preferred to have the funds transferred to another address.
I agree on the tx but somehow i cannot get to add my signature on the tx.
It says that i have signed the tx though.
I get the following. Can someone confirm that it still has only 1 of 5-8?
Edit: removed the tx.
It shows signed by one if I verify that tx.
I don’t know what’s wrong, but we might just start a new tx. I forgot to remove some inputs after I decided to leave some remainder for balancing gateways.
Because @Cybnate asks for balancing the Bittrex PyBot, a new start might make sense.
1 Like
I’ve updated my post. I recommend you try again
I was referring to this post:
The withdrawal to FLOT could have been replaced by a withdrawal to @Nagalim’s NBT T3 custodian address in exchange for BTC, which he proposed to send to your account.
That’d be not according to the mandate of those two operations, but saves tx. Both operations are NuOwned and so there’s trust in the both of you. Why not having you exchange funds if you think it’s good this way?
Discussion this first of course makes sense.
The straight-forward way is to make all tx through FLOT.
Cannot get it to work 
Hum.
Can someone else try asap to see if it is not me that is doing wrong?
Can you please remove the tx from your post FLOT BTC Operations (buy side)? It’s not the current tx any more.
Things for signers to do asap:
Also, can I send money from t3 to cybnate’s account?
Also, can cybnate balance bittrex off of polo?
Signer consensus would allow any or all three of these actions to bring back the peg today.
3 Likes
The peg is still ok - at least at Poloniex and thanks to @zoro’s NuBot gateway.
The road on which Nu is, isn’t ok. Forcing the spread to below 1% will make the future peg quality worse.
Both @Cybnate and you are only allowed to trade with FLOT as far as I’m aware of your contracts (unless you consider the balancing with @Cybnate a T3 activity, which would give you green light for that ;)).
As both operations are NuOwned, I wouldn’t care if you did that to speed up the balancing.
Making FLOT the middleman of that activity neither increases the security of the tx nor anything else.
I say go for it.
2 Likes
@zoro might think about putting more funds up at the same close spreads as that is the main LP on polo right now.
I will probably put stuff about balancing NuOwned off each other in that motion.
To get them drained as well?
I can only recommend to leave them at the increased spread!
1 Like
What do you mean drained? @zoro hasn’t really been buying a whole lot, there are constantly ~3k at that spread and they aren’t being gobbled up. Why would increasing it to say 6k make it any more readily eaten?
Why not double the bookwall parameter for now?
Widening spreads now is simply stiffing people who trusted us, demonstrating that we are not trustworthy. DON’T DO IT! There is no reason to do so. This kind of behavior is deeply injurious to the network.
1 Like
This is nonsense.
Having some funds at 2% spread is better than having 0 funds at 0.5% spread.
Of course there’s a reason to do so!
Can’t you see it or don’t you want to see it?
This behaviour is not injurious to the network, it’s saving what’s left of it with regard to liquidity.
Do you pay close attention to what’s happening on an operational level or do you just say so from an architectural point of view?
Architecture wise I second that we should have loads of liquidity at a tiny spread.
Operation wise I say that this
- costs more money than Nu can afford
- is quite simply not possible without losing the peg completely
1 Like
I know little about economics, but if this BTC rise is the “real” thing, then we will loose all of our reserves!
Is this a huge risk or not?
That’s what you get if you try pegging NBT/BTC 
But if that comforts you: we will get plenty of BTC back once it starts to drop and continues to do so…