The 1.4% fixed spread of the passive dual-side Pybot referred to in above motion and currently operational, will be changed into 1% by default when this motion passes.
Then FLOT members will also be able to suggest changes to the spread making the best use of this facility given the liquidity situation. For changes at least 2 other FLOT members will have to endorse publicly in the forum a spread change suggested by a FLOT member. The operator will respond as quickly as possible but at least within 48 hours.
The voting rates exceed 50% and as promised I will act upon this given the crises situation we are in.
I like to stress that I will consider turning it back to the original setting when this motion eventually doesn’t pass in the next 2 weeks. So please keep your votes on, until it has officially passed. Thanks.
Will change the spread of the PyBot from 1.4% to 1% in the next hour or so and report in the FLOT liquidity threads.
@crypto_coiner Why is this in conflict? It is a gateway at 1% and subject to FLOT to either reduce or increase it further. I’m lost.
Do you really want to give this gateway up and have me returning it to 1.4%. Sounds very contradictory to me.
Is it because you want to abandon FLOT altogether? Just trying to understand this.
Moreover, what is the purpose of voting both JL’s motions?
His first motion is to make all LP operators run operations at 1% max spread.
His second motion is to negate MoD’s, zoro’s and Cybnate’s LP operations and stop them all together!
Then these 3 individuals should make new LP motions in order to provide any liquidity again with gateways or other means at 1% max spread!
Am i missing something here?
Right, so you don’t support FLOT any longer too because they would be the only to advise changes in the spread. The only reason I built that in is to have some flexibility to either side as static motions are no good we have learned.
But thanks for your response anyway.
Motion pass when the votes pass 50%. Custodial grant should also, but the blockexplorer and Nu client haven’t been changed to behave as the shareholders asked a while ago.
Passing of this motion basically allows FLOT or anyone who represents them to change the percentage. The pybot is already set at 1.3% spread (about 1% SAF on Poloniex) against a $1 peg. Awaiting instructions from FLOT or Commanders who take reign