[Passed] LiquidBits term 6 grant - Automatic Liquidity Pool (ALP)

[Cybnate]

Please consider the continuation of LiquidBits.net for another 2 months by supporting the following grant:

BLBitsWJvvahLNr71sHycEb7CvzXbJE8xm,1141

The grant details have been published here: https://daology.org/u/cybnate/proposals/919a242c6f8a88f041d2edaf659c2b38711df6a8. Please take the time to read it.

Changes in term 6 compared with term 5

• Decreased pool size of BTC/NBT from 1500 to 1000 NBT
• Removed grant support for USD/NBT pair on SouthXchange (wrapper is still not ready)
• Removed grant support for BTC/NBT pair on SouthXchange (wrapper is still not ready)

Note: Regarding the new SouthExchange pairs; at the time of this grant it is still not clear when a working wrapper is available after some unsuccessful tests. I will issue a separate grant when the wrapper is ready and fit for production as I’m still keen to support liquidity on those 2 pairs.

Ninja edit: made a mistake in grant amount. Updated to 1141 NBT

Edit: earlier discussion about this grant can be found here: [Passed] LiquidBits term 5 grant - Automatic Liquidity Pool (ALP)

[Cybnate]

Made a typo and changed it in OP, but just noticed that some people already have added the wrong amount in their client. The right amount is :

BLBitsWJvvahLNr71sHycEb7CvzXbJE8xm,1141

Please update. My apologies for the inconvenience.

[cryptog]

Supporting this grant since LiquidBits is one of Nu’s liquidity pools.

[crypto_coiner]

Ought to read the details on daology first – Great elaboration there

[Nagalim]

Seems routine to me. I’m hoping that LiquidBits will switch over to nubot when it goes live as ALP, even if it’s mid-term and fixed cost.

[Cybnate]

I’m hoping that LiquidBits will switch over to nubot when it goes live as ALP, even if it’s mid-term and fixed cost.

Given that the current platform won’t be supported much longer, there is no real option for me to follow rather sooner than later after release. Won’t be the first to adopt though for two reasons; not keen to be a guinea pig this time and need some time to acquaint myself with the new server-side software and the lastest version of NuBot. Not part of the development process this time.

[masterOfDisaster]

Hopefully others who have a little experience with NuBot might be able to fill the gap that will open up if LiquidBits take a break.
The reasons for the break are very comprehensible.
You’ve made a hell of a job as operator of Liquidbits!

If (I’m not sure that I have the capacity to do it) I try to fill (at least parts of) the gap, you wouldn’t be mad about that, would you?

[Cybnate]

If (I’m not sure that I have the capacity to do it) I try to fill (at least parts of) the gap, you wouldn’t be mad about that, would you?

When you think you can do a better job you are always welcome!

BTW Doubt there will be much of a gap though, I’m just taking a more conservative approach with the current pairs in the first place before adopting new software to support them. This might be different for new pairs/new exchanges though as there is less to ‘loose’.

[masterOfDisaster]

When you think you can do a better job you are always welcome!

I don’t think so. If I did, I already could have competed with you
The job you did so far with LiquidBits is impressive.
I just wanted to test the waters how serious your explanation

Won’t be the first to adopt though for two reasons; not keen to be a guinea pig this time and need some time to acquaint myself with the new server-side software and the lastest version of NuBot. Not part of the development process this time.

was meant
I’m glad that it was just meant conservatively!
I’m already busy enough. Don’t expect competition from my end

[Cybnate]

Starting to wonder what is going on with my grant request. Currently this grant is getting less than 30% of the votes and running for almost a week. Did people forget to add it? It is in both Cryptog’s and my datafeed though?

If not, I like to receive some feedback on why the most Shareholders don’t want LiquidBits to continue please or what should change.

Or else just add this to your feed:

BLBitsWJvvahLNr71sHycEb7CvzXbJE8xm,1141

Thanks for your consideration.

[zoro]

Perhaps they believe it is too costly to continue to an exchange that has a very low volume.
But i want to point out that CCEDK is the only exchange that has NBT/fiat pairs. And this is very important for NU

[mhps]

i want to point out that CCEDK is the only exchange that has NBT/fiat pairs. And this is very important for NU

+1 that. It is Nu’s direct fiat gateway.

[willy]

i want to point out that CCEDK is the only exchange that has NBT/fiat pairs. A

Bter NBT/CNY
southXchange NBT/USD
Cryptsy NBT/USD

very low volume.

https://alix.coinerella.com/volume/gui_index.php

All four NBT pairs together have a trade average of 138.9196 NBT per day (30 day window / ALix 30.)

[mhps]

Bter NBT/CNY
southXchange NBT/USD
Cryptsy NBT/USD

Right. Forgot those.
Bter: good luck getting the Yuan outside China
southXchange: isn’t the wrapper having problems?
Cryptsy: one has to be brave or foolhardy or just a fool to put money in it.

a trade average of 138.9196 NBT per day

The exchange rate risk is even smaller in relative terms compared with nbt/btc.

[Nagalim]

I support liquidbits term 6. It’s not about the volume, for me it’s that the nbt/USD pair on ccedk consistently has the number 2 spot on Alix walls after Polo.

[crypto_coiner]

I have been reluctant to add this grant in my feeds because I am reluctant to support any liquidity on CCEDK.
But as it is the largest fiat gateway for nubits, as debated above, I will add it now.
Added.

[zoro]

Server has crashed again? A payment is missing!
edit: today’s payment just went throuth. Only yesterday’s is missing.

[Cybnate]

No, it was the Nu daemon crashing again, the server is fine. Restarted it a few hours ago, but didn’t see the missed payment until you mentioned it as the logs looked fine. I can confirm that payment is missing in the wallet though.

This time I have a nice copy of the credit file, backpay is underway in next hour or so (edit confirmed)

[zoro]

got the missing payment!
thanks!

[Cybnate]

This grant finally passed after 2 weeks and therefore the service was technically 1 week non-supported. It is good that I have a decent amount of rollover funds due to the unavailability of the SouthXchange wrapper, but it begs the question how the Shareholders expect the continuity of services. I will continue to assume that I need to take some margins into account to ensure smooth handovers between grants besides submitting proposals 14 days in advance and putting up for voting 1 week in advance as I did this time.

Anyway, thanks for the continuing confidence in the LiquidBits service.