FLOT BTC Operations (buy side)

10.196 please :joy:

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I think we need to replenish nulagoon now that we have replenished gateways.
I am ok to have some liquidity at low quality spread provided that we have at least the same quantity at high quality spread. For those btc flot members that have not signed this tx please consider signing.

What tx are you speaking of?
Emergency isn’t over yet.
Sending funda to NuLagoon isn’t doing us the favour you hope to achieve by it, I suppose.
But we can test with a little amount of fundas to see what happens to them.

I am talking about the tx in: FLOT BTC Operations (buy side)

There are devs of Nu and BCE and other contributors that would like probably to cash out some or all their NBT at the end of this month.
I am not sure if they would be happy to see a spread bigger than 1% on Polo and to see there is no liquidity on NuLagoon.

Surely our own devs would not be cashing out right now stressing the situation even further, right???

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I’m not sure whether they’d have a chance to get any of the BTC we deposit at NuLagoon Tube at the moment.

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10 BTC to @zoro and 10 BTC to @masterOfDisaster Poloniex gateways.

I propose to start reducing the spread with this amount and see what we get from the market.

Signed 1 of 5/8

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I’d be interested to see an operation that places BTC on T2 (defined as any price) such that the buy side order book equals T1 sell side volume. So if there are like 40k nbt on sell side (like .002 BTC/$) and the custodian has 10 BTC, the custodian would put up the BTC at 0.00025 BTC/$, or the equivalent of $3,000/BTC.

Should we first replenish a bit NuLagoon ?

I’d rather wait some more and use my second Poloniex gateway for such an experiment.

No. I think that’s useless at the moment.
We need to tighten the peg slowly.

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I’ve not been following too closely so I will not presume anything but is there a reason why things are taking a long time?

I agree, but anyway we need to fill buy side, so the tx is necessary.
Could @masterOfDisaster and @zoro start lowering the spread meanwhile they get more BTC?

This needs to be done now. Too much time waiting for BTC to nosedive. We have to accept this might be a new BTC price level.

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10 BTC to each zoro and mOD gateway

Signed 2 of 5/8 (please verify before signing; I’m on mobile phone and only signed it)

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@zoro, please tighten the offset on buyside in small steps. Leave sellside at a small offset. Keep a close eye on it.
I’ll leave my NuBot settings at a high offset until we know what happens to your NuBot with reduced buyside offset.

Verified and signed 3 of 5/8:

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What about this:
we leave @zoro’s and my gateway where they are for now and I use the proceeds from the NSR sale to run an additional gateway at a tightened buyside offset and a very tight sellside offset (currently there are no NBT on that account, but a fistful from a testrun)?

I set buy offset at 3% with 750 in T1.1 and 2000 total T1 amount. Sell offset stays at 0.45%

SELL 2969.9619375 0.0022685
SELL 1530.0380625 0.00188667
SELL 1500 0.00188292
BUY 750 0.00181457
BUY 1250.00000196 0.00179584

edit: 0.3% --> 3%

Do you mean 0.3% or 3%?
0.3% would be quite tight.
I’d rather test that tightness withess less funds, e.g. with the BTC from the NSR sale…

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@zoro, would you mind increasing your NuBot buyside offset (to 3.5% or 4%) to leave some room to my additional NuBot, that now runs at 2% buyside offset?
The other one continues to run at 7.5% offset, but doesn’t broadcast liquidity at the moment.

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3.5 it is :slight_smile:

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10 BTC to @zoro and 10 BTC to @masterOfDisaster

Signed 4 of 5-of-8

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