Given all the discussions I thought it to be good to also chip in with a draft proposal:
and the really stressful one:
I decided to offer a dual side Pybot gateway in order for FLOT to provide liquidity at their discretion. As most of you are aware I’m already running multiple PyBots to monitor LiquidBits. Adding another bot is simple and doesn’t require a lot of work. I can’t guarantee monitoring for 24/7, but will check it daily. Advantage of using PyBot over NuBot is that it immediately places orders when received.
I have only a tier 1 subscription with Poloniex (up to 2k withdrawal limit). I’m fine to apply for tier 2 when this passes which allows me to withdraw $7k/day which should be more than adequate given the intended scale of this operation.
My location is in New Zealand (GMT+12).
Given the limited efforts I will only ask 50 NBT/month assuming no more than weekly withdrawals.
Now, lets do some copy paste from MoD’s and Zoro’s motions/grants
Edit 14-Feb-2016 Full proposal is also published on Daology: https://daology.org/proposals/9703bd96f4cc6754cf6b98431315a9133bb564cf
Daology Hash: 21cc7b3ee02aba45e464a81e75e32784c2827302
B7jeGVDdsd4eE5ZGGmv8xXn2QgkS9nAPUC , 100
Please add the above to your client if you like to support this.
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@Cybnate - below called “the operator” - will run a PyBot on Poloniex and Bittrex. 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.
The spread is fixed to the maximum spread (0.7%) allowed and broadcast by the LiquidBits operations. The maximum fillside is 2000 NBT on Poloniex and 500 NBT on Bittrex. Only the fillside is propagated as Tier 1 liquidity.
The operator offers to check for Pybot’s operation on a daily bases. This translates in a response time of at least 24 hours worst case.
Begin of operation
Operation begins on the day NuBot puts the first deposit of funds by FLOT on the Poloniex order book
End of operation
Operation is ceased by request of withdrawal of all funds or if operator sends all funds to FLOT multisig address(es).
The remaining grant fees will be burned or send to a FLOT’s NBT address.
If for any reason the operator has to stop PyBot for a period of time or permanently before the end of the contract, it will be communicated at least 7 days in advance.
Modes of withdrawal
NSR 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.
The operator @cybnate charges 100 NBT for 60 days of operation in advance. This saves another round of voting for a relative small amount.
Reasoning for compensation
PyBot will be running on an existing VPS together with other PyBots used to monitor LiquidBits operations. The compensation is mainly for weekly (or less) manual withdrawals and general monitoring of operations of the bot.
If the FLOT deposits funds at the operator’s exchange account, they will be used by the operator as if this motion already passed.
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I am also eager to see more grants like this in order to limit and decentralize the funds’ risk.