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

[masterOfDisaster]

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 :
1.01,0.00265545,2000.0
SELL wall volume : 2000.0
SELL tier2 volume = 0.0 NBT
Total SELL volume = 2000.0 NBT
Best price :0.00265545 (1.0100004075000002$)
SELL balance left = 9917.16421074 NBT-----  [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
22:00:16.996 [Strategy Secondary Task] INFO  - Trying to place 1 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
22:00:17.471 [Strategy Secondary Task] INFO  - SELL wall order updated. ID : 1200341519 size: 2000.0 [com.nubits.nubot.trading.TradeUtils:231]
22:00:17.505 [Strategy Secondary Task] WARN  - **SELL** orders re-initialized on  **poloniex** :  1/1 placed successfully
total amount placed : 2000.0
Tier1 order size : 2000.0
Tier2 cumulative order size : 0.0 (0 orders)
 [c.n.n.s.S.StrategySecondaryPegUtils:246]
22:00:26.355 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:00:56.354 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:01:26.359 [checkNud] INFO  - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
22:01:29.181 [Strategy Secondary Task] INFO  - Order placed = OrderToPlace{type=SELL, pair=nbtbtc, size=2000.0, price=0.00265545} [com.nubits.nubot.models.MultipleOrdersResponse:88]
22:01:29.186 [Strategy Secondary Task] INFO  - Order ID = 1200341519
 [com.nubits.nubot.models.MultipleOrdersResponse:89]
22:01:29.193 [Strategy Secondary Task] INFO  - initOrders BUY [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
22:01:35.106 [Strategy Secondary Task] WARN  - Putting a cap on BUY liquidity available. [Total Balance  : 24.20721903 BTC ; capped @  10.51662942 BTC] [c.n.n.t.L.LiquidityDistributionModel:85]
22:01:35.113 [Strategy Secondary Task] INFO  - BUY- OrderBook : ----- BUY-side order book :
0.990002,0.00260287,2000.0
BUY wall volume : 2000.0
BUY tier2 volume = 0.0 NBT
Total BUY volume = 2000.0 NBT
Best price :0.00260287 (0.9900016045000001$)
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)
 [c.n.n.s.S.StrategySecondaryPegUtils:246]
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]

[masterOfDisaster]

Status at 2016-01-21 00:50 UTC

Parametric order book could be enabled again recently.

Current settings:

“bookDisabletier2”: false,

“bookSellwall”: 1000.0,
“bookSellOffset”: 0.01,
“bookSellInterval”: 0.002,
“bookSellMaxVolumeCumulative” : 4000,
“bookSellType”: “exp”,
“bookSellSteepness”: “high”,

“bookBuywall”: 1000.0,
“bookBuyOffset”: 0.01,
“bookBuyInterval”: 0.002,
“bookBuyMaxVolumeCumulative” : 4000,
“bookBuyType”: “exp”,
“bookBuySteepness”: “high”

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.

[masterOfDisaster]

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

Status at 2016-01-21

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

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

NBT address to fund account:
BJUQAhZxXfiiTbG6eeG11L3fcZ25bf2Bmw

[masterOfDisaster]

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:

[Passed] motion to permit dual side NuBot on Poloniex

Continuing the discussion from Current Liquidity: TL;DR Have a custodian run a dual side NuBot on Poloniex with Nu funds to create a buffer and support the peg. This is a band-aid solution until e.g. T3 custodians and fixed cost compensation have eased the liquidity situation and improved the reliability of the peg. Poloniex as the exchange with biggest NBT trading volume is very important for customers evaluating the peg. /TL;DR Assessment / Reasoning This motion draft is trying to solve…

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

BTC address to fund account […]: 1M3khPfXJreaFVbHab5XFEngwhbRh5Nxyi

NBT address to fund account: BJUQAhZxXfiiTbG6eeG11L3fcZ25bf2Bmw

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:

“bookDisabletier2”: false,

“bookSellwall”: 1500.0,
“bookSellOffset”: 0.01,
“bookSellInterval”: 0.002,
“bookSellMaxVolumeCumulative” : 6000,
“bookSellType”: “exp”,
“bookSellSteepness”: “high”,

“bookBuywall”: 1500.0,
“bookBuyOffset”: 0.01,
“bookBuyInterval”: 0.002,
“bookBuyMaxVolumeCumulative” : 6000,
“bookBuyType”: “exp”,
“bookBuySteepness”: “high”

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

[cryptog]

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.

[masterOfDisaster]

The gateway was activated on 2016-03-05:

Current Liquidity

10,000 NBT was just sent to BJUQAhZxXfiiTbG6eeG11L3fcZ25bf2Bmw. @masterOfDisaster, please send BTC proceeds to FLOT.

Current Liquidity

Roughly $3.5k have already been traded by my NuBot: nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2 "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : { "buy" : 3564.73, "sell" : 6459.8767

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

[Passed] motion to permit dual side NuBot on Poloniex

The operator charges no fee for this operation for the first 45 days of operation.
If the operation hasn’t been ceased by request of either NSR [holders] or FLOT after those 45 days passed, a fee of daily 15 NBT applies for the next 30 days, increasing 5 NBT per day each subsequent 30 days.
The fee will be taken from funds on the exchange account if sufficient funds are available or raised by grant.
If the operation is ceased by FLOT or NSR holder request and started again afterwards, this grace period won’t be applied again.

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.

[zoro]

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

[Nagalim]

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.

[masterOfDisaster]

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

You guess wrong in some parts (especially the bold one)
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…

Indeed. I will give MoD 12 hours 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).

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.

450 nbt/month is still a whole lot.

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.

[zoro]

Then i understand that you want to avoid this operation and you are offering a reason for shareholders to stop you
But not before you spoil us (shareholders) once again by offering a free service!
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?

[Nagalim]

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

[zoro]

Ok, sounds good

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!

[Nagalim]

This isnt free its 15 per day

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

[zoro]

This isnt free its 15 per day

Please read the proposal more carefully

sorry if i seem to be impolite sometimes.

[masterOfDisaster]

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

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…

it is very unfair for MoD to offer a free service once again

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

This isnt free its 15 per day

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.
etc.

[zoro]

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?

[masterOfDisaster]

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

[masterOfDisaster]

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

“bookDisabletier2”: false,

“bookSellwall”: 1500.0,
“bookSellOffset”: 0.02
"bookSellInterval": 0.005,
“bookSellMaxVolumeCumulative” : 6000,
“bookSellType”: “exp”,
“bookSellSteepness”: “high”,

“bookBuywall”: 1500.0,
“bookBuyOffset”: 0.02,
“bookBuyInterval”: 0.005,
“bookBuyMaxVolumeCumulative” : 6000,
“bookBuyType”: “exp”,
“bookBuySteepness”: “high”

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

[Passed] NuPool 8 ALPv2

Poloniex:Target: 15000 NBTTolerance: 0.015 (submitted liquidity will only be considered for reward if it lies within 1.5% of the peg price)

[zoro]

We don’t have a reply yet by woolly_sammoth. It could be an error!

[masterOfDisaster]

It can’t be very bad to keep some distance from mid price with this last resort.
@Cybnate’s PyBot will keep a tighter offset, because the PyBot runs within limits of the ALP server.

So there will be a “tiered” offset scheme, sorted by offset:
ALP -> @Cybnate’s PyBot -> your NuBot -> my NuBot