I am going to need to apologize again that I am behind on this first full report of the initial day and one-half of trading for the NBT grant that I am the custodian for. The data feeds and report output are taking longer to make work than I estimated, but my progress is good and tomorrow is looking like it will be productive.
I can provide the raw sales numbers from the two exchanges that I have. These numbers begin at 14:00 UTC on Tuesday and go until about 01:00 UTC on Thursday.
Note: BTER started trading approximately 4 hours after CCEDK did
Additional account funds not on a market: 11.25 BTC*
* On account that trades NBT/PPC from before the bot was turned on; funds will be moved to second account that trades NBT/BTC to add to the wall.
NBT / BTC Market = 391,961 NBT / 16.9 BTC
Retained In Grant Address
* Awaiting deployment to an exchange if volume requires it, or when a next major exchange comes online and offers an NBT trading pair
Dividend Allocation Set-aside (to date)
Total Sales Volume (sell-side, 135,972 NBT) * 10% = 13,597 NBT or 11,700 PPC # $1.16/PPC
Period 001 distribution trigger 72,000 NBT
Current percentage of period dividend allocation set aside: 18.88%
I will continue to prepare the data for more frequent reporting, so thank you for your patience. If you have any questions, please do not hesitate to post a comment. Numbers can be independently verified once the raw data is available. I want to make this available as soon as possible.
Is the dividend set-aside a separate fund, or included in the grant reserves?
Is it correct to be able to total these values to get something close to the initial grant? I’m looking for how much value might have been lost to arbitragers due to market fluctuations and buy/sell wall repositioning.
458,526 NBT + 28,198 PPC
286,200 NBT + 32 BTC
200,000 NBT / 0 USD
391,961 NBT + 16.9 BTC
13,597 NBT (dividend set-aside – include this?)
At first glance, these numbers look excellent. Good work!
I should re-label that section going forward, I was getting a head of myself. The automated trading bots are not yet configured to set aside those funds, but will be later today or tomorrow. The “set aside” amount is located in the buy walls at this time, and will need to be slowly withheld as we get closer to the end of Period 001.
I’d like to add that there are two additional line items that I missed in my initial report:
Grant Reserves - Addendum
220 PPC from pre-bot trading on the account that is now handling NBT/BTC trades. This will be moved to the other account that manages NBT/PPC trades and added to the wall.
Retained in Custodian’s Peercoin wallet
500 PPC was acquired during the time period after the grant was released, but before the funds were available on an exchange (in accordance with the terms discussed here).
Rather than move these funds onto one of the exchanges, I will hold these funds in that address and consider them to be part of the first dividend payment. Therefore, only 71,500 PPC will be needed to be withheld from the actively traded accounts to meet that liability.
The last item listed above (for the +500 PPC) also means that the total sales number should be increased by 785 NBT. The rate that PPC was trading for at the time was $1.57/PPC. The record of this transaction appears in the block chain. This represents a special case, so it should be the only one of it’s kind.
Please note that due to the way that the Nu wallet currently selects its inputs and outputs, the transaction above “came from” the custodian’s fee. I should have moved the fee payment to a completely separate wallet, instead of sending it to a different address on the same wallet. I will remedy this going forward and provide a public “breadcrumb” trail to make sure that everyone can easily account for the way that the original 1,800,000 NBT grant (1,836,450 NBT minus the 36,450 NBT fee) has been moved through the block chain.
I’ll try to include the first of those accounting details in my next operations report.
Yes, using the values displayed there, it’s possible to approximate net gain or loss due to arbitrage. If we use the price of $1.05/PPC and $414.52/BTC at this moment (from coinmarketcap.com), here’s the calculation that I get:
Yes, @Chronos those were the old updated information. The new data that I have is published here:
In the report you will see a note about a gap on the BTER exchange data, because I did not realize that BTER only keeps the past 24 hours of trade history. I have sent a note to their support team to ask for a full accounting. From my review as trading has occurred, BTER has lagged CCEDK’s NBT/BTC market in volume. This would mean that the numbers would not appreciably change more than the amount of trading that occurred during the same time on CCEDK.
This is not optimum information to have, so I apologize for the delay in getting all of the relevant information.
In summary, my trade data suggests that we have seen approximately ~314k NBT worth of sell-side trading in the last 8 days. I will begin to set aside funds for the first dividend, as written in the grant specification. I am worried that the current buying and selling has been very symmetrical, so our buy-side funds are not deep at all. I believe we are 100% solvent if everyone who has bought NBT tried to sell back their NBT to us, but with crypto exchange rate differences as they have been, and with exchange commission fees calculated, the margin is not big.
The NuBot is not yet automatically setting aside 10% of the sales, and there is no easy way to do it manually while the bots are running, so I will need to start to slowly set that aside into a separate account with the support of the exchanges.