[Passed] Liquidbits.net trustless liquidity provision on USD, EUR and BTC pairs

NuShares Passed Grants
#101

I’m not seeing the other small outages you are reporting in my remote client logs. Only have the obvious at 04:24:22 when everything went down at the same time only leaving the error I reported. I do see a few errors with the bot checking the currency price provider, but nothing out of the ordinary.

I can confirm the one on 31/5 4:22. Weird. It went and came back, nothing in the server logs. Still analysing though.

Edit: I found this in the server logs which is new:

2015/06/01-03:38:20 ERROR: NuRPC: client not initialized

That error is not there anymore after the restart today, possibly something went wrong yesterday with the restart. I t would be interesting to know what happened. It looks like the Nu daemon was not running properly.

#102

Trouble brewing again?

2015/06/01-07:56:23 DEBUG: /sync: socket error (97)
[...]
2015/06/01-07:57:39 ERROR: server unresponsive for usd on ccedk
2015/06/01-07:57:39 INFO: stopping PyBot for usd on ccedk
2015/06/01-07:57:39 INFO: successfully deleted all orders for usd on ccedk
2015/06/01-07:58:09 ERROR: server unresponsive for usd on ccedk
2015/06/01-07:58:09 INFO: stopping PyBot for usd on ccedk
2015/06/01-07:58:09 INFO: successfully deleted all orders for usd on ccedk
#103

Running the ttlp bot on ccedk’s nbt/usd right now.

#104

I restarted the bot.
Looks good now.
Maybe my bot messed something up…

#105

Successful payout a couple of hours a go, looks like we are getting some stability finally.
Need to look at Woolly’s new changes and what that means for the peg. Not keen on wide deviations at least not at the current rates. Sound like a new strategy is needed.

#106

The deviation defaults to 0.025 if nothing is set in the config file (the same as currently hard coded). It has just been enabled as a configurable perameter without having to edit the code itself

#107

And that change is highly appreciated, because it allows easy operation on bter’s NBT/CNY pair with the standard TLLP bot from https://github.com/inuitwallet/nu-pool
The goal for TLLP should be to provide one repo for all TLLP pools, where only the pool.conf needs to be adjusted according to the pool settings.
This is a step into this direction.

#108

I’m a bit wary of one repo given the security risks and the lack of decentralisation. Technically we act as one repo already as I’m synchronising all changes from Nu-Pool, but I like to be able to assess changes and make choices to not implement or later implement features.

I do appreciate your wish to use one bot for all pools though. This needs more thoughts, I don’t have the right answer yet.

Thanks for elaborating. The deviation is currently set on 0.075 in the server config. It was higher initially but I reduced it to tighten the spread and allow more shifts to happen. Did you just say it is hard coded? Are we talking the same parameter?

I’m referring to this in the config.py:

_tolerance = 0.0075 # price tolerance

#109

Ah, I think there is some confusion then.
This is the deviation for the pyBot client currently hardcoded on line 326 of trading.py. I’ve taken that hardcoded figure and altered it to read a variable from the config file, defaulting to the existing figure if none is set.
The deviation here is how far from the pricefeed price the order price needs to be before a shift is required.

deviation = 1.0 - min(self.price, self.serverprice) / max(self.price, self.serverprice) if deviation > self.deviation:

1 Like
#110

Deviation + spread < tolerance. For nupond I set them equal and it’s causing some minor issues.

Basically, spread is where the client places orders and deviation is how much those orders can deviate from what they would be if the bot started fresh, so if the actual deviation is bigger than this parameter the orders are canceled and replaced.

Tolerance is pure server side. It is the window of acceptable orders based on the current price. If an order is outside this window, it will not be credited.

#111

I have many of this

2015/06/02-xxxxx ERROR: submit: socket error (104)

sometimes

2015/06/02-xxxxx ERROR: unable to retrieve order book for usd on ccedk: exception caught:
2015/06/02-xxxxx ERROR: submit: server could not be reached
2015/06/02-xxxxx ERROR: submit: socket error (104)

but the overall efficiency remain more than 90%. I am using v1.11 LB

#112

Looks like a temporary internet connection outage to me.
The ‘submit’ lines indicate a connection issue between your client and the LiquidBits server. If it was just those I’d say the server might be having issues.
The ccedk line though means your client is having trouble connecting with ccedk. That could just be coincidence but my gut feeling is that it points to a bigger connectivity issue.

#113

Thanks. My orders do show on the order book and I do get pretty high efficienctyso I will leave the connection issue alone – there isn’t much i can do in fact – and run for a while.

#114

LiquidBits reporting overview to 6-Jun-15:

Liquidity provision averages by day:

… …Buy…Sell

19/05/2015 Average 19/05/2015 … 1.569774935 1176.682908
20/05/2015 Average 20/05/2015 … 0 … 1194.7256
21/05/2015 Average 21/05/2015 … 0 … 880.654336
22/05/2015 Average 22/05/2015 … 2.257234151 2843.971076
23/05/2015 Average 23/05/2015 … 28.05928668 2334.604321
24/05/2015 Average 24/05/2015 … 60.71785354 2424.062938
25/05/2015 Average 25/05/2015 … 44.13270417 2605.277237
26/05/2015 Average 26/05/2015 … 12.58655438 2678.987538
27/05/2015 Average 27/05/2015 … 27.13793352 2664.468943
28/05/2015 Average 28/05/2015 … 338.5365633 2336.052065
29/05/2015 Average 29/05/2015 … 473.3448066 2103.706379
30/05/2015 Average 30/05/2015 … 506.9711024 1135.858685
31/05/2015 Average 31/05/2015 … 517.6625768 1208.942379
1/06/2015 No data
2/06/2015 Average … 2/06/2015 … 634.3186706 637.9738955
3/06/2015 Average … 3/06/2015 … 609.580009 637.9367699
4/06/2015 Average … 4/06/2015 … 650.4063924 626.9187951
5/06/2015 Average … 5/06/2015 … 564.8471139 590.8461805
Grand Average period…251.7485524 1672.862675

The master Excel file for the above data with Liquidity provided by the minute can be downloaded here

Data before 19/5 is available but unstructured and due to the issues in that period has large gaps unfortunately and therefore hard to parse automatically. Please leave me a PM if you are interested in the raw logs as I do need to anonymize them before releasing. The log of 1/6 was also incomplete and therefore difficult to parse due to an issue causing a manual payout.

Reporting overview
Total grant LiquidBits (-/- fee): 1,500 NBT
Total payouts to date: 144.7057 NBT (including manual payouts)

Remaining: 1,355.2943 NBT

I’m also glad to report that the pool is finally getting stable and automatically pays out every 24h and that the logging is also stable. Hope to produce some nice charts later on when we have some scripts.

Going forward and extending the timeframe
Given the many outages and probably because of that the relatively low participation, I’m extending the ‘test period’ with another 30 days under the same conditions as the motion in first post. As the total payout to date is minimal, I will cover any payout during this period from my fee where it exceeds the remaining funds. Basically giving away a free ride to the Shareholders for all liquidity provided in the first 30 days. I think that is appropriate as the performance was under par, although not always in my control though.

EUR/NBT and USD/NBT pairs on CCEDK
Arguably the safest deal as no or almost no hedging risks, only exchange default risk here.
Please take note of CCEDK’s offer advertised here: CCEDK signs bank agreement - Zero deposit fees on USD, EUR and CNY next two months. No deposit fees on USD, EUR and CNY for the next two months June and July. There is still plenty of space to participate on both the NBT/USD and NBT/EUR pairs on CCEDK on both sell side and buy side. Interest rate on both pairs continues to be 0.33%/day on both buy and sell side

BTC/NBT pair on Bitcoin.co.id
Proven exchange with good track record, but you will have the hedging risk with BTC, therefore a higher compensation is warranted on the BTC sell side. Also places left here on both sell and buy side. This exchange is our third largest on average with regular, albeit relatively small trades.
Interest rate is 0.38% on sell side and 0.28% on buy side. Why not try it? The compensation for the equivalent of 500 NBT in BTC on sell side after 20 days would be 7.6% = 38 NBT. These offers usually won’t last long!

Want to join the pool?
The instructions to get started on the LiquidBits pool, FAQs and more details are available here:
http://cybnate.github.io/index-liquidbits.html

And please remember:
Don’t risk more than you can afford to lose!

4 Likes
#115

Thanks @Cybnate for getting the pool stablized and thereby improving TLLP in general. They report sets standard in details, too.

3 Likes
#116

Please note that there is no more liquidity of Nubits supporting the sell wall of https://www.ccedk.com/nbt-usd since yesterday.

1 Like
#117

People are buying nbts. Probably related to B&C auction.

1 Like
#118

Interesting development indeed. Now is probably a good time to buy some more NBT and transfer them to the NBT/USD pair on CCEDK and earn 0.33%/day for up to 5k. I think this covers the risk profile of this exchange and includes a healthy margin. There are also opportunities left on the NBT/EUR pair on the same exchange.

However, in any case don’t invest more than you can afford to loose!

#119

Is something wrong with ccedk?
The bot doesn’t run properly…or is it the server?

#120

Not sure what the problem is. My bots are running fine. Maybe a connection issue?