Surely our own devs would not be cashing out right now stressing the situation even further, right???
1 Like
I’m not sure whether they’d have a chance to get any of the BTC we deposit at NuLagoon Tube at the moment.
1 Like
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.
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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.
2 Likes
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.
1 Like
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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I’ll leave my NuBot settings at a high offset until we know what happens to your NuBot with reduced buyside offset.
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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…
1 Like
@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.
1 Like
3.5 it is 
1 Like
10 BTC to @zoro and 10 BTC to @masterOfDisaster
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2 Likes
I’m still a big proponent of a parametric order book.
At the moment we only have Poloniex as the exchange where NBT trades happen.
SouthXchange has some trades as well, but that is something for a different topic.
At Poloniex there’s currently
@Cybnate’s PyBot (1.4% spread, offsets each 0.7%),
@zoro’s NuBot (sellside 0.45%, buyside 3.5%) and two of
my NuBots (sellside 0.7%, buyside 7.5%; sellside 0.45%, buyside 2%)
providing liquidity with Nu funds (NuOwned operations).
So we have a nice parmetric order book provided not only within each operation, but by different operations as well.
If ALP starts to work again on buyside, it will be even nicer.
I consider this a significant risk and thought about withdrawing all but 10 BTC from this gateway:
I know, this is the one where recently 10 BTC were deposited.
This is my rationale:
An offset of 7.5% is too much for regular operations (it just isn’t perceived as liquidty) and too small to stop a desperate bank run.
So there are 36 BTC at Poloniex doing not the best what can be done with them.
I suggest withdrawing all but 10 BTC to FLOT and have those BTC on the order book with offsets starting at 90%.
This reduces the risk significiantly (by 26 BTC) and doesn’t hurt the liquidity provision perceptible.
I’d like to keep the NBT, though, because they are still offered at a tight sellside offset and might be needed, if there’s a sudden rise in demand for NBT.
I hope that @zoro’s NuBot can stay at 3.5% buyside offset without runnging out of BTC soon.
4 Likes
I agree.
I agree too.