[Passed] Dual side Nubot gateway in Poloniex (by zoro)

[zoro]

voting address with zero amount. If it passes, 250 NBT will be requested after 30 days of operation with a new grant.

BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo , 1 NBT

Hi shareholders,
after below thread by MoD:
https://discuss.nubits.com/t/discussion-liquidity-operations-a-paradigm-shift/?source_topic_id=3395
and the really stressful one:
https://discuss.nubits.com/t/reminder-absence-of-flot-member-and-current-poloniex-nubot-operator/?source_topic_id=3395

i decided to offer a dual side nubot gateway in order for FLOT to provide liquidity at their discretion.
It is obvious that ALP and MLP are not enough in Poloniex to keep the peg and especially in high BTC volatility periods.
Thus, since i have played around with Nubot in Poloniex i am ready to offer it as a gateway.
I am using it in a private win7 64 server with a lot of CPU,RAM and drive space.
I have the possibility to check its good operation for more than 12 hours/day, every day!
I have a tier3 subscription in Poloniex thus no problem for a frequent rebalancing with FLOT if necessary.
You know the risks, exchange default, nubot malfunction,
run with FLOT’s funds
(foolish of me since i am not using tor or any kind of proxy )
My location is in Greece (GMT+2).
Since this is my first attempt for a grant i would appreciate any comment and help i can get from all of you, respectable Nu community.
For my “efforts” i will ask 250 NBT for one month.
I prefer to offer the service for one month at first in order to see how well this operation will go.
Now, lets do some copy paste from MoD’s motion

Motion RIPEMD160 hash: ac2fd99c21e6021a3cecf3e7bc0d8f9d3b65439e

=##=##=##=##=##=## Motion hash starts with this line ##=##=##=##=##=##=

Intro@zoro - below called “the operator” - will run a NuBot on Poloniex. The liquidity is being broadcast using a custodial address to allow tracking the liquidity situation of the bot.The operator promises to send all funds to a FLOT multisig address upon request of a majority of the FLOT members or by a passed NSR holder motion.

AvailabilityThe operator offers to check for Nubot’s good operation for 12hours/day, every day and even replace the Nubot’s server with a second one in another physical location if the original location has permanent power or internet outage!

Begin of operationOperation begins on the day NuBot puts the first deposit of funds by FLOT on the order book.In case NuBot is on standby (not running) and the FLOT deposits funds, operation will begin on the day NuBot gets started and puts orders on the book.

End of operationOperation is ceased by request of withdrawal of all funds or if operator sends all funds to FLOT multisig address(es). NuBot is put on standby afterwards.The remaining grant fees will be burned or send to a FLOT’s NBT address.If for any reason the operator has to stop Nubot for a period of time or permanently before the end of the contract, it will be communicated beforehand.

Modes of withdrawalNSR holders can request withdrawal by motion.FLOT members can request withdrawal to a FLOT multisig address for which they are signer by posting in the forum.The number of FLOT members to request a deposit to a FLOT multisig address equals the number of FLOT members to execute transactions from this address.The operator may withdraw funds to a FLOT multisig address by discretion.

Compensation schemeThe operator charges 250 NBT for 30 days of operation.If the operation is ceased by FLOT or NSR holder request before the end of this period, the remaining fees will be burnt or send to a FLOT’s NBT address.

Reasoning for compensation Nubot will be running in a personal win7 64 powerful server 24/7 and its good operation will be monitored AMAP (As Much As Possible).

Premature activationIf the FLOT deposits funds at the operator’s exchange account, they will be used by the operator as if this motion already passed.

=##=##=##=##=##=## Motion hash ends with this line ##=##=##=##=##=##=

Verify.
http://assistant.mj2p.co.uk/ac2fd99c21e6021a3cecf3e7bc0d8f9d3b65439e.txt

I am eager to see more grants like this in order to limit and decentralized the funds' risk and of course to keep FLOT extremely busy

[masterOfDisaster]

Thank you for stepping up.

You should apply for 2 custodial addresses (each grants 1 NBT), to have 2 NuBots being able to broadcast liquidity independently from each other. Believe me, you will be glad about having two of them.
Here’s a guide, which is specific for Linux on my RaPi, but the basics are the same for your setup.
I recommend to lean on the NuBot settings.

[Guide] [First steps] NuBot as gateway

Continuing the discussion from Dealing with gateways in particular and liquidity provision in general. I thought it might be good to share some background information. This might not really be a guide for the whole setup, but will help with the first step. This is from a private conversation I recently had, when a community member was interested in details about running gateways: I run those on a RaspberryPi2 (1 GB RAM) along with nud to make maintaining the system easy (I only need to backu…

Important: create one Poloniex account for each NuBot. Use it only for NuBot related tasks (deposits/withdrawals from/to FLOT). Otherwise you’ll end up in an accounting hell.

Link each of those accounts to you main Poloniex account. Doing that not is a vialoation of POloniex’ terms and puts the Nu funds at risk.

[zoro]

Thanks MoD!
For my first attempt, i prefer to keep things as simple as possible. 2 Nubots with 2 different Poloniex accounts,
one for each side, looks like an accounting hell to me
I have already a second connected Polo account that i am using for my Nubot’s testing.
Nubot in windows is very fast, it takes seconds to set up walls after a restart.
And yes, i will use your settings for my configuration file.

[masterOfDisaster]

@zoro

2 Nubots with 2 different Poloniex accounts,

Check!

@zoro

one for each side

No way! Both NuBots need to be dual side. Gateways are not efficient enough. I had to learn that the hard way. The second NuBot is for redundanca purposes and in case you need to adjust configuration settings.
That requires a restart, which deletes all orders.

With only 1 NuBot, there’s no second line of defence.
…which for much too long now is the only line of defence.
Until the reworked (CRFC) compensation scheme for ALP is in place, I expect this to be more oft than not.

This is what I mean:

---

Don’t worry about the $200 on buy side:

There’s plenty of (BTC, a bit over 70 BTC in both accounts) funds left in the NuBot accounts, which are not on order or outside the ALix parameters (the sell side is quite thin; below 10,000 NBT in total left):

Sat Jan 23 13:32:38 UTC 2016
status of (former) sell side gateway:
nud getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
        "BETwD8nSjtj9ADSvej2na34xmsMYwPRymv" : {
            "buy" : 16076.57,
            "sell" : 2103.8263
status of (former) buy side gateway:
nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 13423.95,
            "sell" : 6719.3857

@zoro

And yes, i will use your settings for my configuration file.

I’ll help as good as I can improving it, but I fear my abilities are a little bit… degraded at the moment.

[Nagalim]

300 nbt/month is more than a pool operator. Im glad we’ve got numbers floating around though. Ill post one later with $150/month, cause i totally want in on that cash cow.

[masterOfDisaster]

300 nbt/month is more than a pool operator

Be aware that it can make a lot of work, although the best part of it (tuning the config under enormous pressure) has already been done.
If done passively with only a few withdrawals each week, it should be manageable.

In difference to the ALP at Poloniex, this can be used to support the peg there at the moment!.

Pool operators provide a platform. LP don’t like to use the buy side of it at the moment at Poloniex.
This provides a tool that can just be used by Nu.
It’s more efficient. It’s necessary.

It’s good to see second NuBot operator stepping up. If you need any help, please ask.

i totally want in on that cash cow.

This leaves a stale aftertaste, to say the least…

[Nagalim]

Just making a little competition, nothing to get stale about. I cant see why it should be any harder than keeping nubot running and withdrawing once in a while. I dont even need any marketing or customer support. Anyway, i think it’s important we talk compensation here, as unpleasant as that is. My bid is $150/month.

[masterOfDisaster]

@Nagalim

I cant see why it should be any harder than keeping nubot running and withdrawing once in a while.

That’s what creates the impression that I’m withdrawing from it, although it makes no work and that’s why it leaves a stale aftertaste.
But you are right. In the future it will make much less work for both operators and FLOT (or other entities).
It already works.

No buy side support at Poloniex from ALP:

---

No buy side support from the NuLagoon MLP operation:

---

> $40k daily trading volume at Poloniex and the peg is fine:

It’s just that it consumed me getting it there.
But that of course has no price.

@Nagalim

i think it’s important we talk compensation here, as unpleasant as that is. My bid is $150/month.

Competition is always helpful to evolve schemes. And in fact I’m glad that zoro will have someone capable to discuss issues and share load at his side, if you two become NuBot operators.

[zoro]

I am expecting more grants like MoDs and mine to come.
With more grants, more cheaper the service due to competition or cooperation, you name it
For a novice like me i can’t really estimate how much work is needed and what troubles i will face.
MoD, i have tried 2 dual side Nubots from different locations (different IPs) with the same Polo account.
I see no real problems and the bots were working (actually they still are) as one!
I am not sure about liquidity reporting though. Since i think that without a credentials file i cannot report a liquidity?
One is setting the orders and the otheris in stand by. I don’t think they know the existence of one another but they are following their configuration correctly.
Even with one nubot the time between stopping the bot, perform the configuration adjustment and restart it, is no more than 1 or 2 minutes until the walls are up again.
What is your time in Rpi?

[masterOfDisaster]

For a novice like me i can’t really estimate how much work is needed and what troubles i will face.

As I said, it will be easier in the future.
On 2016-01-15 began a hell for me, because I thought I’d see the peg failing. I worked restless, doing all I could to prevent that from happening. Which seemed to have worked so far and resulted in a dual side config that seems to create a viable line of defence.

MoD, i have tried 2 dual side Nubots from different locations (different IPs) with the same Polo account.I see no real problems and the bots were working (actually they still are) as one!

The bots aren’t aware of the orders of the other bot. Don’t do that. It will make trouble. Use a dedicated Poloniex account for each bot. The administrative efforts of creating them (user, password, 2fa, api) and adjusting the NuBot config parameters (api credentials) are one-time.

One is setting the orders and the otheris in stand by. I don’t think they know the existence of one another but they are following their configuration correctly.

Have you tried what happens, if the one that placed the orders fails? They remain until they are a nice catch.

I am not sure about liquidity reporting though. Since i think that without a credentials file i cannot report a liquidity?

You “only” need a custodian address to do that.

You should apply for 2 custodial addresses (each grants 1 NBT), to have 2 NuBots being able to broadcast liquidity independently from each other.

Even with one nubot the time between stopping the bot, perform the configuration adjustment and restart it, is no more than 1 or 2 minutes until the walls are up again.

So 1 or 2 minutes no peg support. Wouldn’t to have that.

What is your time in Rpi?

Similar. That’s why I made it two, after I realized that the major peg support at the moment is coming from the NuBot.

[zoro]

If i understand correctly, you propose to make actually 2 grants!
With 2 different Nubots in 2 Polo accounts.
But then FLOT will have to transact with 2 gateways instead of one? Or i have to make
the balancing between them? This doubles the managing effort for me and/or FLOT.
Even 2 Nubots under the same roof are both prone to power and internet outage. In different locations, chances are better.
Think also that while you sleep (you will eventually ) the bots crash for hours until you wake up.
Real headache!
But not really, because of below events (hopefully):

1. There will be more Nubot gateways from different operators and the one will cover for the other.
2. Each bot will place a small amount of its total funds in orders, thus keeping low, any potential loss from crash.

[masterOfDisaster]

If i understand correctly, you propose to make actually 2 grants!With 2 different Nubots in 2 Polo accounts.

100%

But then FLOT will have to transact with 2 gateways instead of one?

It’s not more effort than withdrawing to one, it’s just more effort checking two custodial addresses for their broadcast liquidity.

Even 2 Nubots under the same roof are both prone to power and internet outage. In different locations, chances are better.

Right. But still 2 NuBots under the same roof are better than 1. I just can’t trust VPS with custodial private keys…

Think also that while you sleep (you will eventually ) the bots crash for hours until you wake up.

A good reason not to sleep until there’s backup - no second NuBot, but a second operator.
The reason why I was asking for help numerous times.
Thank you for anwering that call.

[Nagalim]

I 100% support this grant. I don’t want to make it seem like I’m trying to run you out, I’m just coming to terms with how important this is and how the cost really is worth it to Nu. Still, @zoro, if you wouldn’t mind checking out my draft, I’d like to get your opinion on the changes I made. Maybe some things you might consider?

[Cybnate]

I have the possibility to check its good operation for more than 12 hours/day, every day!

This is worth the 300 NBT/day especially when there are no competing offers.

End of operation term is a bit vague. Would this allow you to basically step out any time? Would like to see a commitment in the motion for a 30-90 day period.

[zoro]

Glad you bring these up!
I definitely offer a commitment for at least 30 days at start.
If for any reason, which i can’t predict, i have to withdraw
(even for a small period)
i will communicate this beforehand as MoD has done.
I will state this in the grant.
About monitoring my nubot, i am thinking that it isn’t possible to even prove that
i am indeed checking on it once/day or 20 times/day!
Thus by giving a time frame has no meaning, i believe.
I will change it to AMAP (As Much As Possible)
I have also lower the compensation to 250 nbt.

[zoro]

If i don’t see any other comment, i will go for voting tomorrow.
thanks

[masterOfDisaster]

Do it - the sooner the better!

I need to announce a stop of deposits to my NuBots soon, because I plan to withdraw all funds to FLOT addresses before I have to leave for (at least) two weeks.
With the current funds and my current withdrawal level, this takes roughly one week.

It would be good you could ramp up your operation once I start withdrawing.

[zoro]

Well, i am in shock. I don’t understand what went wrong and while editing original post, it disappears!
How can i restore it back?
@desrever, is there a backup somewhere?
@CoinGame

[CoinGame]

I’m not sure what the problem, can you send me a PM with more info?

[CoinGame]

Oh, I see. Just click the yellow pencil icon at the top, and you can see the previous edits. You’ll just have to copy/paste from an old edit.