[Passed] NBT EXIT gateway on Poloniex provided by @masterOfDisaster

Important update in the OP (more detailed information can be found here):

This gateway is now on standby.

Round three

Providing the gateway with funds:
20 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-09 00:03:30 UTC.

The funds weren’t automatically put in buy side orders by NuBot, because the BTCUSD price didn’t move enough to trigger a wall shift
NuBot was manually restarted and places now orders (first 7 hours size 2,000 USD, recently increased to 3,000 USD, automatically replenished when consumed by more than 90% for over 15 minutes).

Status at 2016-01-09
no BTC have been traded so far

Status at 2016-01-10
0.724 BTC have been traded for 326 NBT; 19.276 BTC remaining

Status at 2016-01-11
19.982 BTC have been traded for 8,911 NBT; 0.018 BTC remaining

6,800 NBT have been withdrawn to FLOT NBT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4j

2,111 NBT wait for the reset of the daily withdrawal limit to be withdrawn to the FLOT NBT address.

Status at 2016-01-12
2,111 NBT have been put on order due to this event:

and have been traded for 4.7 BTC.

The gateway is currently suspended.
Using the 2,111 to support the sell side needs to be discussed as it was a violation of the terms of the buy side gateway.
I did it in all conscience, but still think that requires consequences in one way or another.

I will get back to this topic later.

Status at 2016-01-16 (retroactive entry)
Situation dire, 4.7 BTC put on order, but due to the immense buy side lasted not long.
BTC price rollercoaster made it hard to keep the peg. The story is partially tracked beginning here: Current Liquidity

Status at 2016-01-17 (retroactive entry)

50 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-17 03:47:34 UTC.

Currency	Amount	Address	Date	Status
BTC	50.00000000	1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi	2016-01-17 03:47:34	COMPLETE

The total of 54.7 BTC were used to support the buy side.

NuBot was changed from gateway mode to dual side mode to create a buffer layer until T3 custodians and fixed cost reward scheme could improve liquidity provision.
This is noticed as another violation of the terms, but a motion to legitimate dual side NuBot operations on Poloniex has been created.

Status at 2016-01-18
11,915 NBT on sell side (2,000 on order book)
24.2 BTC ($9,317) on buy side ($2,000 on order book)

Status at 2016-01-19
11,915 NBT on sell side (2,000 on order book)
24.2 BTC ($9,317) on buy side ($2,000 on order book)

Status at 2016-01-20
14,868 NBT on sell side (6,000 on order book; parametric order book working again!)
1.9 BTC on buy side ($779 on order book)

5,000 have been withdrawn to FLOT NBT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js

Status at 2016-01-21

12.620 NBT on sell side
9.6 BTC on buy side ($3,984 at the time of writing)

Status at 2016-01-22
10 BTC were sent from FLOT to the gateway and credited by Poloniex on 2016-01-22 00:37 UTC.

Currency	Amount	Address	Date	Status
BTC	10.00000000	1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi	2016-01-22 00:37:20	COMPLETE

10,600 NBT on sell side
24.5 BTC on buy side ($9,751 at the time of writing)

1 Like

NuBot is still running in dual side mode. The offset has been adjusted to (0.009, 0.009) to reduce the risk originating from NBT being used to hedge BTCUSD volatility.

Former buy side gateway, now dual side NuBot:

22:00:10.315 [pool-1-thread-1] WARN  - Initiating price subscription. Streamer will push a notification when price changes more than 0.2%. Initial price to track: 380.35 USD [c.n.n.s.Subscriber:181]
22:00:10.346 [pool-1-thread-1] INFO  - Computing USD prices with sellOffset:0.009$ and buyOffset:0.009  : buy @ 1.0102999999999998 buy @ 0.99 [com.nubits.nubot.streamclient.Subscriber:426]
22:00:10.357 [pool-1-thread-1] INFO  - Actual prices from bitfinex (using 1 BTC = 380.35 USD) : sell @ 0.00265624 BTC; buy @ 0.00260287 BTC [com.nubits.nubot.streamclient.Subscriber:436]
22:00:10.363 [pool-1-thread-1] INFO  - setBuyPricePEG : 0.00260287 [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegTask:228]
22:00:10.369 [pool-1-thread-1] INFO  - set setSellPricePEG : 0.00265624 [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegTask:219]
22:00:10.375 [pool-1-thread-1] INFO  - Started BotTask Strategy Secondary Task [com.nubits.nubot.tasks.BotTask:57]
22:00:10.385 [Strategy Secondary Task] WARN  - Initializing strategy [c.n.n.s.S.StrategySecondaryPegTask:137]
22:00:10.392 [Strategy Secondary Task] INFO  - setting up ordermanager [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegTask:138]
22:00:10.396 [pool-1-thread-1] WARN  - Subscribing to websocket push updates from streamer @ tcp://stream.tradingbot.nu:5561 [c.n.n.s.Subscriber:103]
22:00:10.463 [Strategy Secondary Task] INFO  - Sell-Wall size :  : 0.0 NBT [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:538]
22:00:10.481 [Strategy Secondary Task] INFO  - Buy-Wall size :  : 0.0 NBT [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:543]
22:00:11.939 [sendLiquidity] WARN  - Liquidity is not being sent : orders are not yet initialized [c.n.n.t.SubmitLiquidityinfoTask:147]
22:00:16.075 [Strategy Secondary Task] INFO  - initOrders SELL [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
22:00:16.975 [Strategy Secondary Task] WARN  - Putting a cap on SELL liquidity available. [Total Balance  : 11917.16421074 NBT ; capped @  4000.0 NBT] [c.n.n.t.L.LiquidityDistributionModel:85]
22:00:16.988 [Strategy Secondary Task] INFO  - SELL- OrderBook : ----- SELL-side order book :
SELL wall volume : 2000.0
SELL tier2 volume = 0.0 NBT
Total SELL volume = 2000.0 NBT
Best price :0.00265545 (1.0100004075000002$)
SELL balance left = 9917.16421074 NBT-----  [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
22:00:16.996 [Strategy Secondary Task] INFO  - Trying to place 1 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
22:00:17.471 [Strategy Secondary Task] INFO  - SELL wall order updated. ID : 1200341519 size: 2000.0 [com.nubits.nubot.trading.TradeUtils:231]
22:00:17.505 [Strategy Secondary Task] WARN  - **SELL** orders re-initialized on  **poloniex** :  1/1 placed successfully
total amount placed : 2000.0
Tier1 order size : 2000.0
Tier2 cumulative order size : 0.0 (0 orders)
22:00:26.355 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:00:56.354 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:01:26.359 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:01:29.181 [Strategy Secondary Task] INFO  - Order placed = OrderToPlace{type=SELL, pair=nbtbtc, size=2000.0, price=0.00265545} [com.nubits.nubot.models.MultipleOrdersResponse:88]
22:01:29.186 [Strategy Secondary Task] INFO  - Order ID = 1200341519
22:01:29.193 [Strategy Secondary Task] INFO  - initOrders BUY [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
22:01:35.106 [Strategy Secondary Task] WARN  - Putting a cap on BUY liquidity available. [Total Balance  : 24.20721903 BTC ; capped @  10.51662942 BTC] [c.n.n.t.L.LiquidityDistributionModel:85]
22:01:35.113 [Strategy Secondary Task] INFO  - BUY- OrderBook : ----- BUY-side order book :
BUY wall volume : 2000.0
BUY tier2 volume = 0.0 NBT
Total BUY volume = 2000.0 NBT
Best price :0.00260287 (0.9900016045000001$)
BUY balance left = 7207.21575806 NBT-----  [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
22:01:35.117 [Strategy Secondary Task] INFO  - Trying to place 1 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
22:01:35.428 [Strategy Secondary Task] INFO  - BUY wall order updated. ID : 1200350510 size: 2000.0 [com.nubits.nubot.trading.TradeUtils:231]
22:01:35.439 [Strategy Secondary Task] WARN  - **BUY** orders re-initialized on  **poloniex** :  1/1 placed successfully
total amount placed : 2000.0
Tier1 order size : 2000.0
Tier2 cumulative order size : 0.0 (0 orders)
22:01:56.354 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:02:21.901 [sendLiquidity] WARN  - Liquidity is not being sent : orders are not yet initialized [c.n.n.t.SubmitLiquidityinfoTask:147]

Status at 2016-01-21 00:50 UTC

Parametric order book could be enabled again recently.

Current settings:

Resulting in e.g. this set of orders (at a price level of ~$420 per BTC):

I will let the dual side NuBot run with these settings for a while.
I feel like I’ve reached a point where not much room for improvement is left.

Overview of balances:
9.6 BTC
12,620 NBT

If the balance stays like this, I’ll schedule a deposit of BTC with FLOT while withdrawing NBT instead of offering cheap NBT on the market to balance.
The remaining BTC should provide sufficient buffer to do this without urgency - in difference to the last deposits to the gateway accounts.

As the thread doesn’t get bumped when I edit an embedded post, here’s the current status of the associated exchange account:

This makes a total of
28,257 NBT on sell side
29 BTC on buy side ($12,035) at the time of writing

I’m going to initiate a (this time non emerency!) deposit of BTC (to both “gateway” accounts) if the BTC funds are depleted any further, while I continue withdrawing NBT (depending on the balance from one account or both) after the reset of the withdrawal limit

OP has been updated with

1 Like

This gateway is on active standby without being closely monitored

The respective exchange account was cleared to FLOT.
The gateway continues to be available by the terms of this motion:

The exchange deposit addresses (NBT, BTC) remain the same.

Close monitoring of the operation can’t be provided until further notice.

It’s recommended to use it in emergencies only, e.g. at Bitcoin price roller-coaster with failed ALP and trouble with the NuBot operation of @zoro which as aresult poses a severe danger for the peg (at Poloniex, which is at the moment the most important exchange for NBT).

NuBot order parameters of this dual side gateway:

Remark: deposited funds will be used for dual side trading. Withdrawing funds will only be possible once I’m back from my next trip.

As long as the USD value of the buy side reported by NuBot keeps changing with a moving BTC price, one can assume the NuBot is still running properly and available for emergencies.
Let’s hope that the $3.2894 BTC don’t get traded soon to NBT:

nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 3.2894,
            "sell" : 3.0
1 Like

Perhaps we can think about a way to choose a gateway manager who will be in charge of adjusting the parameters upon requests from the shareholders.

The gateway was activated on 2016-03-05:

Beginning 2016-04-20 this the operating fee of the gateway is 15 NBT/day:

The fee of 15 NBT/day applies as well, if the gatetway operation is ceased before the 45 days passed and the gateway gets activtated again.

This proposal seems a bit awkward now that there are more nubots available in Poloniex.
Moreover, it is very bad that you are offering a free service and then a very expensive one.
I guess we have to cancel this operation ASAP in order for you to make a “proper” grant with
the “correct” fee both for you and NU :wink:

Indeed. I will give MoD a day to put up a motion then i will do so. Mine will pay MoD 125 NBT for a 30 day period starting when the motion is passed (and will discontinue the current pay model). MoD will be free to end service at will. Of course, it would be better if MoD did the motion.

Edit: i totally misread it and thought it was increasing by 5 nbt each day rather than each month. 450 nbt/month is still a whole lot.

You guess wrong in some parts (especially the bold one) :wink:
This gateway was designed for and announced as for emergencies only.
The fee structure provides an incentive for shareholders to offer or foster cheaper services if they want to do that or use what they get offered.
Now that the gateway was used for the first time and is free for the first 45 days it’s too expensive?
I better digest this information some more instead of writing what crosses my mind…

I guess you are aware that Nu didn’t even have additional NuBots at Poloniex if I hadn’t acted the way I did.
I don’t intend to do this as regular service.
This has several reasons.

  • I already did it for over a week in January as “extraordinary” service (at 0 fee more or less around the clock) and it left traces. I don’t blame anyone, but me, though. I take better care for me now.
  • my job situation is different now and I can’t always offer high quality service, because I’m more often on business trips than before.

It is, because I don’t really want to do it any longer, but don’t want to leave Nu without additional (to the “regular” gateways at Poloniex) safety measures.

I might create a motion for additional single sided gateway services at other exchanges at moderate prices.
NSR holders can keep this gateway for emergencies and motivate others to provide regular NuBot services.
It’s just too convenient for NSR holders to let others do the work.
It’s always the same people who do the work.

I will terminate my NuBot services at Poloniex, if NSR holders intend to dictate the fees for which I shall offer them.

Then i understand that you want to avoid this operation and you are offering a reason for shareholders to stop you :slightly_smiling:
But not before you spoil us (shareholders) once again by offering a free service! :smiley:
I would not be surpised if shareholders decide for you to continue the operation even if you charge 1000/month.
What then? how are you going to offer a “quality” service? :smiley:

Ok, sounds good. Just to clarify, if FLOT asks for the money back you’ll stop charging correct?

What sounds good?
I still believe that it is very unfair for MoD to offer a free service once again. He is working so hard for NU!

This isnt free its 15 per day

Edit: i didnt read it carefully, y’all are right.

Please read the proposal more carefully :stuck_out_tongue:

sorry if i seem to be impolite sometimes.

1 Like

Right. And for the first 45 days I won’t charge any fee at all.
It would be good to bring an “emergency solution” not even close to those 45 days…

That’s exactly what I offered and what I will deliver it - if necessary for full 45 days.

Only after 2016-04-20 or when the gateway gets activated again after the operation has been ceased in between.

The first 45 days are free.
The next 30 days cost 15 NBT/day.
The 30 days after that cost 20 NBT/day.

If we make a motion to pay you a fee for these 45 days and then shut you down for good
(if this is what you want)
is acceptable by you?

I don’t request a fee for this activation of the emergency solution.
And I don’t see why it’s better to not have it in the future.

The steep fee should provide an incentive to

  • create redundant solutions
  • use this emergency solution only when necessary

NuBot order parameters of this dual side gateway have been updated:

This was done to keep some distance between ALP on Poloniex: