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

NuShares Passed Grants
#21

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.

#22

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.

#23

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:

#24

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

#25

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!

#26

This isnt free its 15 per day

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

#27

Please read the proposal more carefully :stuck_out_tongue:

sorry if i seem to be impolite sometimes.

1 Like
#28

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.
etc.

#29

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?

#30

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
#31

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

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

[Nubot Gateway] Poloniex @zoro (sell offset:0.25% , buy offset:5% ) - stand by
#32

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

#33

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

#34

The pybot cybnate is running is off her personal server script. She can make the tolerance anything she wants. Shes not trying to get compensated via alp.

#35

let me change it a little
Cybnate’s PyBot -> zoro NuBot -> ALP -> MoD NuBot
:wink:

#36

I think we can change that back. See this thread.

1 Like
#37

And we also have to take the new Poloniex’s fee model into consideration.
https://poloniex.com/fees/

#38

Yes, we do.
At first glance it’s for the benefit of Nu, because Nu is with the liquidity provision scheme on the “maker” side (for which fees were reduced by 0.05%).
It’s good to make “takers” aware (by increasing the fee by 0.05%) that they need to pay for the “service” of others who provide liquidity.

Maybe I should increase the bot offset to 0.025 :wink:
My bot is the ideal playground as I expect it to be discontinued quite soon - no later than 2016-04-19 :wink:

#39

15 BTC have been withdrawn to FLOT:

This was done by my discretion to balance the liquidity situation:

I recommend an appropriate deposit of NBT in turn. Maybe I can craft a tx later.
Would be good to deposit NBT to @zoro’s and my gateway in the same tx as he followed the recommendation to balance as well.

2 Likes
FLOT US-NBT Operations (sell side)
#40

The funds arrived and are used by NuBot to support the peg:

nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 15070.68,
            "sell" : 15727.2174