[Passed] NuPond Term 7 Grant

Nagalim · January 4, 2016, 8:12am

This is a NuPond operation grant just like the one previously but extended for 60 days. The operator fee is lower but there will be backdues because this grant is late (shown as a negative roller over fund).

Proposal RIPEMD160 hash: 06861906f5b1021f2d87615020dc11e70f2231b0

=##=##=##=##=##=## Custodian Hash starts with this line ##=##=##=##=##=##=

Custodial Address: BFqe2tA4wJyDsP2CG2yDtki4wpTzSaAgfX
Amount Requested: 2800 NBT

Operator: @Nagalim
Type: 2 Fixed Cost ALPs
Pool and Term: NuPond Term 7
Exchange: Bter.com
Pair: NBT/CNY & NBT/BTC
Duration: 60 days
Tolerance: 1.5% CNY & 1% BTC
Spread After Fees: 1% for Both
Bid Reward Rate: 10 NBT/day for Each
Ask Reward Rate: 10 NBT/day for Each
Total Home Grant Without Operator Fees: 2400 NBT
Previous Operator Fees: 200 NBT
Rollover Funds: -200 NBT
Current Total Operator Fees for Next Term: 300 NBT

=##=##=##=##=##=## Custodian Hash ends with this line ##=##=##=##=##=##=

Verify. Use everything between and including the <custodianhash></custodianhash> tags.

Nagalim · December 25, 2015, 5:13pm

So I’m a total space cadet and forgot to calculate my funds required (also, holidays). Please, pretty please pass this quickly. I am taking the lower operator fee ($150/month) and will be funding the pool out of my own pocket when funds run out. I only have 90 NBT left.

I want to be clear about this: I don’t actually intend on losing money from my pocket during the down time, just loaning it to Nu until the grant passes. Funding this pool out of pocket for real would wipe out my operator profits very quickly.

When the grant passes, I will make it very clear when the end date for the term is and when I will be putting up the next grant. This won’t happen again.

cryptog · December 26, 2015, 1:05am

What is the hash of the proposal and how do you get to 2800 NBTs?

Also, what was the performance of fixed cost ALP compared to fixed reward over the past months?

Nagalim · December 26, 2015, 2:34pm

I think fixed cost did better than fixed reward at drawing liquidity but it is very hard to compare on Bter because of two reasons:

Bter has high default risk and so the liquidity provision is very grainular (only a few liquidity providers acts more bulky than a whole bunch for a lot of reasons).
The CNY feed is messing with the buy side. Any time anyone places anything on the sell side for the CNY feed it immediately gets converted into BTC through the buy side on the other pool.

That said, the rates for Bter were a good bit higher than other pools. Consistently nearly double.

The proposal will be hashed when assistant bot responds. As a summary, my intent is to do the same thing as the last term (except 60 days) and hope the CNY price feed settles things down. If that motion proves to be more controversial than I thought it would be, I may write a motion to revise the terms of this grant to cease provision on the CNY pool.

2800 = 1200*2 + 200 operator + 200 backpay

Operator fees were given in the previous grant, and the 1200 is the same as last grant, x2 for 60 days instead of 30.

The backpay is because I made a mistake: I was distracted and didn’t count the days. If you look back, I’ve operated on term 6 for a good bit more than 30 days already. NuPond uses at most $40 NBT/month, so the $200 is at least 5 days. I will smooth that out by adjusting the duration of the grant and will post the exact end date of Term 7 when the grant passes.

Edit: Hashed

Nagalim · December 26, 2015, 2:13pm

@cryptog @Cybnate @crypto_coiner
Have I mentioned how nice the data feed operators are looking today?

huafei · December 27, 2015, 10:20am

it seen that no fund to pay out interest for now?

cryptog · December 27, 2015, 10:33am

Sorry i ll be updating my feeds in a few hours.

Nagalim · December 27, 2015, 1:29pm

@huafei I am giving shareholders a great deal because this (the late grant) was my mistake:

I am loaning Nu nbt until the grant passes.
I am locking in a $150 operator fee for 2 months when I really want to raise it to $200.
There will be no interruption in NuPond provision rewards as long as I am confident shareholders still support NuPond.

Cybnate · December 28, 2015, 7:05am

I assume you meant $40 NBT/day. LiquidBits uses about $20-$25/day providing about 16k liquidity over 3 pairs. NuPond provides about the same 15k but proofs more expensive for Shareholders due to the fixed reward model.

I appreciate the issues with the feeds which causes some issues but also translates in the Shareholder getting a bad deal in a fixed reward

Not sure about a great deal given the above, but it is ok to me. The LPs will like you though.
Adding to my datafeed soon.

Nagalim · December 28, 2015, 7:15am

NuPond only paid out ~$30/day because of the broken peg on nbt/cny all month. If the price feed doesn’t fix the liquidity operations I’ll certainly consider lowering reward for next term.

crypto_coiner · December 28, 2015, 10:56am

All righty- Added to my datafeed.

cryptog · December 28, 2015, 3:32pm

06861906f5b1021f2d87615020dc11e70f2231b0 verified.
Voted.

nmei · December 29, 2015, 2:11pm

Voted

huafei · December 30, 2015, 1:07pm

@Nagalim BTC pool , playced less fund order

2015/12/30-08:03:46 INFO: bter - balance: 0.50939838 rate: 0.19% ppm: 0.00000129 efficiency: 100.00% rejects: 0 missings: 0 - btc - ask: 1.0000 x 0.19% - 835BA98B-E192-47A4-82C2-EDE006C44540
2015/12/30-08:04:05 INFO: increasing tier 1 ask limit of btc on bter from 1.00000000 to 2.00000000
2015/12/30-08:04:06 INFO: successfully deleted ask orders for btc on bter
2015/12/30-08:04:46 INFO: bter - balance: 0.50939982 rate: 0.24% ppm: 0.00000165 efficiency: 100.00% rejects: 0 missings: 0 - btc - ask: 1.0000 x 0.24% - 835BA98B-E192-47A4-82C2-EDE006C44540
2015/12/30-08:05:07 INFO: successfully placed ask btc order of 2.5000 nbt at 0.00238208 on bter
2015/12/30-08:05:46 INFO: bter - balance: 0.50940009 rate: 0.19% ppm: 0.00000323 efficiency: 100.00% rejects: 0 missings: 0 - btc - ask: 2.5000 x 0.19% - 835BA98B-E192-47A4-82C2-EDE006C44540
2015/12/30-08:06:05 INFO: increasing tier 1 ask limit of btc on bter from 2.50000000 to 4.86552710
2015/12/30-08:06:06 INFO: successfully deleted ask orders for btc on bter
2015/12/30-08:06:46 INFO: bter - balance: 0.50940301 rate: 0.19% ppm: 0.00000323 efficiency: 100.00% rejects: 0 missings: 0 - btc - ask: 2.5000 x 0.19% - 835BA98B-E192-47A4-82C2-EDE006C44540

Nagalim · December 30, 2015, 2:18pm

I’m not precisely sure what your question is, but I’m guessing that’s the limit order bug. It’s a remnant of fixed reward and not something I can fix. I did try, a couple of times, but it’s hard to fix without gutting the dutch auction system and I want the code to be backwards compatible.

So sorry, but I don’t think it’s worth my time to fix that bug, especially with the new software on its way.

A reset should fix it. Try reducing the reset timer to 0.25

huafei · January 2, 2016, 2:44am

@Nagalim Is that have a failure payment because lack of fund?

Nagalim · January 2, 2016, 3:33am

It looks like you’re right about the payout failure, but it’s not cause of lack of funds. The server has plenty of funds. I’m away tonight, I’ll take a look tomorrow; the bots seem to be working on-exchange.

huafei · January 2, 2016, 4:23am

@Nagalim BTC pool have sockerror

2016/01/01-23:22:31 ERROR: submit: socket error (111)
2016/01/01-23:22:31 ERROR: submit: socket error (111)
2016/01/01-23:22:32 ERROR: submit: socket error (111)
2016/01/01-23:22:33 ERROR: submit: socket error (111)
2016/01/01-23:22:33 ERROR: submit: socket error (111)
2016/01/01-23:22:34 ERROR: submit: socket error (111)
2016/01/01-23:22:35 ERROR: submit: socket error (111)

zoro · January 2, 2016, 8:12am

Yes, server is still down

Nagalim · January 2, 2016, 3:16pm

Lots of issues, Nud and the server script both failed. The log file doesn’t give anything, so this isn’t the same issues as before. I dunno, I’m restarting Nud and doing the backpay thing, as well as updating the custodial address. Just need to wait a minute for nud to catch up.

Yo, so now my nud is giving 0 blockcount. Anyone know why? I’m using:
addnode=104.156.247.229
addnode=104.238.165.61
addnode=192.237.200.146
addnode=212.129.19.120
addnode=128.199.96.127
addnode=188.226.223.94

Can anyone give me a good list of nodes?

Stuff I think is pertinent from the debug:
Loading addresses from DNS seeds (could take a while)
0 addresses found from DNS seeds
ThreadDNSAddressSeed exiting
ThreadMapPort started
ThreadSocketHandler started
ThreadOpenAddedConnections started
ThreadMessageHandler started
trying connection 104.156.247.229:7890 lastseen=-375485.5hrs
ThreadOpenConnections started
ThreadUpdateFromDataFeed started
ThreadStakeMinter started
PeerMiner started for proof-of-stake
connect() failed after select(): Connection refused
trying connection 198.52.160.71:7890 lastseen=-403263.2hrs
trying connection 104.238.165.61:7890 lastseen=-375485.5hrs
connect() failed after select(): Connection refused