Right, I misunderstood some things, my apologies.
I still hope NuLagoon Tube and other FLOT members can offer a word for the refund of fees and spreads.
Right, I misunderstood some things, my apologies.
I still hope NuLagoon Tube and other FLOT members can offer a word for the refund of fees and spreads.
Okay.
So now I understand how NuLagoon Tube works!
The exchange spread is set at 0.4%. The transaction fee rate is 0.2%.
Could you briefly explain why NuLagoon would want to skip those for FLOT? Do you mean entirely?
When NuLagoon Tube becomes stable weāll be providing liquidity as a service. Itās supposed to be mutually beneficial; I donāt see why we are supposed to pay the general consumer price.
Itās probably not too wrong to pay NuLagoon that 0.6% as weāre already paying a lot for the liquidity itself, but itās a matter of principle to avoid any further costs. I also do not want Nu to keep getting the short end of the stick.
Got it, thanks! That makes sense.
Unless there is any urgency in trying this out, Iāll be awaiting a response from NuLagoon (@henry).
Sorry for interrupting the NuLagoon Tube (NLT!) discussion with this.
The flash crash of BTCUSD seems to have increased the demand for NBT - Iād have expected the opposite:
ā¦at least if my tired eyes donāt misinterpret the outputs of ALix and the broadcast liquidity information.
Can a FLOT member (or anybody else) please create a Cointoolkit tx to the Poloniex NBT entry gateway deposit address?
Doing that on my mobile phone is less than inconvenient.
Pinging @Dhume, @ttutdxh, @jooize, @woodstockmerkle
How much should we send?
Looking at ALix the liquidity on Poloniex went down to approximately 6,000 NBT (current; 4h average is slightly higher).
I have nothing but my gut feeling to say maybe 5,000 NBT?
Hereās 10k NBT. Signed 1 of 3-of-5
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
Please verify the destination address as being the gateway.
I had 10k NBT in mind as well.
Verified and signed by woodstockmerkle + jooize.
01000000fbe89556039d10e9343dcd4137694e6a479b1caf61711d6aa2d0104f595f952a4b0304496d01000000fd41010048304502210098eb444e46c2743304e0a3e8e084b7f3e04ef61b9a4596f7cba0fbb511e904a7022014d9e3471e6bea92d9aafe7b0fd3053476ea44a63a8c42a5346d32532488fd790147304402202fcf7491d78fc0fda5bf7695c416722fb52676958e7b3352e7ca90ce3390073a022040f56b1aa23b48c9c48f2e39275e645ae58dcd95898daa64ab8b3af607d2cad6014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffffda40f1a03deadf3f9744d730b2689dba3258b2b8d88b42d79091ec731ff0544500000000fd410100483045022100bc9c3dcad4c26ed8ad0c0d96d389437aec041dcff7b4af084602f7369e2ccfc702204f69e0d16f31d383415e057e602a375981f5e0af927dbca3fc0f803da3db698a0147304402203b40589de2a6d3593b97ff78e6d7d40d13b66d6f188c89610d7eb700fa4fe4f002207457bb3d8fb95a545756fa3851dcd64cbc99813efebab90e5a21a84eb873dda1014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffffefe637480865bb515805a486c6c3f1c4358bead08cacdabc88d5e3428266f49b01000000fd410100483045022100ea3d9f395d2ee3e07f4ce104931b29c92503a7fb75196852688bcbb615084fcd02206c713d6b33a8604db498a4b0ea5814591c756628335f7f180013f7cac5085d6401473044022005651c024ea86a6101dd863397b03ae2835e549ded3d2ed62ccaa3df6e1626120220514c931664cb720af7ae8f30d39a7bfd9bbc148ebea0fd38664ed68a2895d0d5014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffff0200e1f505000000001976a914c2b412403ce1ed0576eb2318b3ce027bb5a06b0a88acecae5f000000000017a914f35b24f264597d66ba8c366a5005824bb6a06138870000000042
One other thing to check:
is it me not being able to think straight or is the ābidā and āaskā of ALix and the broadcast liquidity information the opposite way?
ALix: bid (BTC), ask (for BTC)
broadcast liquidity information: bid (NBT), ask (for NBT)
edit:
verified and signed.
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
I had trouble broadcasting it, though.
Clicking on ābroadcastā seemed to do nothing.
Trying it manually again produced āTransaction broadcasting is currently not available for NuBitsā.
What now? Broadcasting it with Nu wallet?
Broadcast through Nu.app.
sendrawtransaction 01000000fbe89556039d10e9343dcd4137694e6a479b1caf61711d6aa2d0104f595f952a4b0304496d01000000fd8901004730440220604356c78a8e18da30519a6abe320f868831d82771dfc17653b27f7a84f062d5022031c4755b45e7fc9c23d8af85f9ef6a1d1cfbb05fbdc5cca8863d3d83fe06b5260148304502210098eb444e46c2743304e0a3e8e084b7f3e04ef61b9a4596f7cba0fbb511e904a7022014d9e3471e6bea92d9aafe7b0fd3053476ea44a63a8c42a5346d32532488fd790147304402202fcf7491d78fc0fda5bf7695c416722fb52676958e7b3352e7ca90ce3390073a022040f56b1aa23b48c9c48f2e39275e645ae58dcd95898daa64ab8b3af607d2cad6014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffffda40f1a03deadf3f9744d730b2689dba3258b2b8d88b42d79091ec731ff0544500000000fd89010047304402206f95e45c36c14e331b5e87b32a7992f3b1fccfe8d6a404c824bb9f6bcbff6146022073b5c4ac2fa52da8602e612d4e9325129b1c99493be9d0350e702cdcc033535301483045022100bc9c3dcad4c26ed8ad0c0d96d389437aec041dcff7b4af084602f7369e2ccfc702204f69e0d16f31d383415e057e602a375981f5e0af927dbca3fc0f803da3db698a0147304402203b40589de2a6d3593b97ff78e6d7d40d13b66d6f188c89610d7eb700fa4fe4f002207457bb3d8fb95a545756fa3851dcd64cbc99813efebab90e5a21a84eb873dda1014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffffefe637480865bb515805a486c6c3f1c4358bead08cacdabc88d5e3428266f49b01000000fd8a0100483045022100c7b1e3d470d553c749e0eba3839917d8013ee6a0f86b9c235207c4b1da46b94802201f62c70ad410e967c91d51acbb4b0cf6cabed9a398202ca9ea31faa5c8c8d87801483045022100ea3d9f395d2ee3e07f4ce104931b29c92503a7fb75196852688bcbb615084fcd02206c713d6b33a8604db498a4b0ea5814591c756628335f7f180013f7cac5085d6401473044022005651c024ea86a6101dd863397b03ae2835e549ded3d2ed62ccaa3df6e1626120220514c931664cb720af7ae8f30d39a7bfd9bbc148ebea0fd38664ed68a2895d0d5014cad5321034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2102a144af74d018501f03d76ead130433335f969772792ec39ce389c8a2341552592103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102547427fc2ea3a0ab9ef70f5e1640ff5112b113f65696948f992bd0770b94257155aeffffffff0200e1f505000000001976a914c2b412403ce1ed0576eb2318b3ce027bb5a06b0a88acecae5f000000000017a914f35b24f264597d66ba8c366a5005824bb6a06138870000000042
294d0029d2d215a4d5fbf7709181b7da6024afec177106a8c0779fc00e84be38
NuExplorer sees it.
Impressive - half an hour for forming consensus and executing a transaction.
What about renaming FLOT to:
Fastest
Liquidity
Operations
Team
?
I will restart NuBot in case the BTCUSD price doesnāt move enough to make NuBot shift the walls (and use the deposited funds) and the liquidity on Poloniex runs low.
And regarding NuLagoon Tube:
a test run with 100 NBT seems to be fine for me. Before ramping up use of NLT, waiving (or lowering) fees etc. needs to be discussed.
How about
Feels
Like
Operating
Tier-3
Amazingly creative!
Iām almost scared by how fast that went.
NuBotput the 10,000 NBT on order (3,000 NBT at a time).
All but 1,000 NBT have already been traded for BTC:
nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
"BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
"buy" : 19530.45,
"sell" : 1000.0
The liquidity overall and on Poloniex is quite balanced at the moment.
Iāve prepared another deposit to the gateway.
Please verify and check, but only sign if the liquidity situation gets dire.
I might not be available on short notice for the next hours. Thatās why I prepared it.
Created and signed by @masterOfDisaster.
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
edit:
all NBT on the gateway have been traded. No NBT funds on the gateway are left to support the peg in case the NBT sell side runs dry.
Current liquidity is according to ALix balanced, though.
We need to keep an eye on this.
Dear FLOT team members,
Sorry for the late response. As you probably know, we are busy to do some final polishing and tunning work to NuLagoon Tube.
@dysconnect has many valid points regarding the refund of fees and spreads. However, we would like to explain a little bit how we see it from our angle.
So, balancing Tube could be treated as part of T4 managersā jobs. It is reasonable that you pay some cost to fulfill your job.
We agree that FLOT could have the refund of half spreads. Because assuming NuLagoon Pools T3 buy some NBT from T4, we will accept the price at $1, however, we donāt think it is reasonable to ask T3 to buy NBT at a premium price, such as $1.002
Regarding transaction fee, because we invest a lot of resource to invent and run the service, it is reasonable to have some revenue by collecting tx fees.
NuLagoon Tube creatively provides a better way for FLOT operations but wonāt increase its cost.
Is that make sense? Could we agree on that NuLagoon Tube refund half of the spread rate to FLOT in one or two months basis.
Thank you
Henry
I think below are the key discussions and motions around NuLagoon.
Things I am pondering:
1- does NuLagoon Tube āas a poolā fall under the scope of the motions below? i.e.: is NuLagoon as an LPC operating on the NuLagoon Tube āexchangeā considered a pool operation
2- if so, does the self-governance of balancing between the exchanges apply as a function that NuLagoon must perform?
This will require more thought and discussion, for sure.
Feb 2015
April 2015
April 2015
Sep 2015
Dec 2015
Thank you for posting the references.
Without much thought Iām inclined to perceive NuLagoon Tube as extra service for which an extra fee is required (I donāt see the capping apply here) if Nu wants to make use of it.
Thereās no need for Nu to use it.
But the FLOT might consider it useful, as it provides Nu with a means to move funds from T4 to T3 (and not to T1/T2 like with the gateways!).
I welcome the offer to have a reduced fee for that.
I typed a bunch of stuff a couple of hours ago but somehow the draft was gone. Now Iām typing a bunch more but it will be less organized.
Balancing NuLagoon Tube is not our job, but balancing NuLagoon is. Even if we donāt support NuLagoon Tube, we still need to balance NuLagoon. NuLagoon has refused a manual trade with FLOT on the grounds that a purchase can be made on NuLagoon Tube instead, which of course at that time would have costed 0.6%.
There are are times that NuLagoon Tube needs to buy liquidity from Nu, and there are times where Nu wants to help rebalancing NuLagoon. These tend to coincide a lot.
On one hand, if NuLagoon Tube can thrive and even become a market maker, anything we sell you will be resold for a profit, and Nu has no reason to sell cheap liquidity. On the other hand, if NuLagoon is unhealthy it poses a risk to Nu, but that job is already paid for by your management fee. If trading on NuLagoon Tube is to become an integral part of balancing NuLagoon, I have to point out that your business model is already subsidized by Nu.
For example, any BTC sitting on your exchange is supported by liquidity interests. Thatās a few thousand NBT invested per month. This is unless you use BTC out of your own pocket, where you get hit by volatility, or invest a lot more and become a generic exchange that accepts tradersā funds. Thereās no reason for Nu to pay to refill that BTC.
I also need to point out that NuLagoon Tube has probably diverted funds from Poloniex. It certainly causes some trouble for FLOT and some T3 people, but both FLOT and shareholders would accept that because itās good for Nu in the long term. I hope all parties can keep proceeding with good will.
I might personally begrudgingly accept that remaining 0.2% until B&C Exchange rolls out; it probably costs lower than $100 a month for a few more months, not even out of my own pocket. On that regard itās not worth our time to argue for. However, it is a very important precedent to our power balance with parties such as B&C Exchange in the future. Even if we can do it now, we must not do it forever.