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@masterOfDisaster - 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.
The operator offers to check for Nubot’s good operation daily and holds replacement hardware available in case of hardware failure.
As NuBot doesn’t support the multi use of API credentials, this is no hot standby solution.
Furthermore there’s no guarantee.
NuBot malfunctions, outages of the internet access or the security of the funds on the exchange are risks Nu needs to bear.
The experience so far showed an extraordinary availability of both hardware and internet access.
For security reasons VPS won’t be used for this operation.
Begin of operation
Operation begins on the day NuBot puts the first deposit of funds by FLOT on the 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). NuBot is put on standby afterwards.
Operation parameters, e.g. offset
NuBot operation parameters are intentionally not part of the motion to allow adjusments to market needs.
The offset should be higher than the offset of ALP (NuPool) or MLP (NuLagoon) operations to effectively build a last line of defence.
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 charges 90 NBT per 30 days of operation.
Upon passing this contract will automatically be renewed unless FLOT majority (5 of 8) or NSR holder motion ceases the operation.
The fee will be paid by FLOT, taken from funds on the exchange account if sufficient funds are available or raised by grant.
If the FLOT deposits funds at the operator’s exchange account, they will be used by the operator as if this motion already passed.
This motion intends to replace motion [Passed] motion to permit dual side NuBot on Poloniex.
The former motion provides Nu with a Poloniex gateway as well, but unattended on standby and at a daily charge of 15 NBT if being activated.
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The full text can be found here as well:
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