[Passed] NuPool 8 ALPv2

[Nagalim]

When the price moves all the orders tend to move at once-ish.

Everybodys using the same price feed.

[Vogger]

When the price moves all the orders tend to move at once-ish.

Everybodys using the same price feed.

Yes, but are they moving out of NBT?

[Nagalim]

I think what you’re seeing is just nubit moving orders. If they were getting in or out of nbt there would have to be a trade.

As a side note, i’m still surprised that no one has asked for a T3 trade with me to help balance nupool. Y’all know buy side has a much higher rate right now than sell side right?

[Vogger]

I think what you’re seeing is just nubit moving orders. If they were getting in or out of nbt there would have to be a trade.

As a side note, i’m still surprised that no one has asked for a T3 trade with me to help balance nupool. Y’all know buy side has a much higher rate right now than sell side right?

How much would would need to be put up for a T3 trade? That could be the reason why they are not?

[Nagalim]

500 nbt.

Good point, i wanted to do 100 nbt to start. The real issue is that it is a manual trade, so it takes time and effort on everybody’s part. Ideally, many people would be offering this service and there would be advanced software and so on and so forth. Anyway, for now I’m just surprised some big fish hasn’t wiped me out of my 5 BTC in one txn.

[huafei]

i have 100nbt ，alway send to NLP to get btc

[Nagalim]

NLP is a good choice as well, very efficient. I’d be interested in the math around the loss from going through NLP with respect to the gain of going from ask to bid in NuPool nowadays.

[zoro]

I am getting some API errors from my nubots.
"Unexpected token END OF FILE at position 0"
“ApiError [4 : Null Return]”

are you getting them as well, or it is only me?

[woolly_sammoth]

I’ve noticed some json parsing errors in the ALP logs when felt hung data from the Poloniex api. I suspect they are having some issues. The error you are having seems to indicate that too.

[zoro]

Why ask % and bid % rewards are always equal?
(the rank1 under server stats)

[Nagalim]

I think those are total cost rewards. A very clear readout of % rewards on client end like PyBot has would be very very useful.

[mhps]

Is ALP using bitfinex as the main price feed source? I see this

Bitfinex BTC last 534.01 bid 534.0 ask 534.94

Polo NBT
last : 0.00181732 lowestAsk : 0.00185212 highestBid : 0.00182156
last 550.261 bid 539.922 ask 548.98

There is a big price difference than can be explained by price fluctuation in a minute.

[huafei]

we have no BTC to support peg as 1 USD

[masterOfDisaster]

But we have successfully kept a floor of $0.95 with the help of the gateways and their increased buyside offset!
Way better than nothing and seeing momentary drops to far below it!

[Cybnate]

Is there a way in the ALPv2 software to provide a stronger incentive than we have now providing liquidity on the buy side?
I’m thinking of reducing the sell side reward and adding this to the buy side reward based on the (im)balance of both sides.
That would likely better balance the ALP and keep liquidity more balanced within the ALP, so we can be less reliant on the gateways going forward.
My concern is that we are now paying for a huge sell side liquidity, without any demand.

E.g. when sell side is on ALP is 80% and buy side is only 20% to move 80% of sell side reward to buy side. When buy sides evens out with sells side the rewards should be balanced again between the two sides.

[woolly_sammoth]

This is exactly what ALPv2 is intended to do, it just hasn’t been put into action yet. When setting the exchange configuration the ratio can be set to show the balance of how the reward should be split between the buy and sell side.
I would be happy to make some changes to the currently running NuPool operation to make the buy side more attractive. I would like some guidance on what split to set though as my grasp on the current situation is shaky at best.

[masterOfDisaster]

I would like some guidance on what split to set though as my grasp on the current situation is shaky at best.

If it’s not too much effort resembling this scheme, I’d recommend starting with what @Cybnate proposed:

when sell side is on ALP is 80% and buy side is only 20% to move 80% of sell side reward to buy side.

-> an inverse linear relation of side volume and compensation, maybe with a cap/floor.
Each side gets at least 10 to 20% and max. 80 to 90% of the total compensation.
In between these limits the compensation will be

(1 - (this side/total of both sides))*100

percent.

[woolly_sammoth]

This doesn’t seem too difficult to implement. Currently it would have to be set manually on NuPool which is something that causes me some concern as if the situation were suddenly to change and I wasn’t able to adjust the rewards, it could cause a different bad situation. I will take a look at automating this function of liquidity though and make some test runs on the Heroku server (https://alp-server.herokuapp.com) which automatically builds and runs the latest code.

[woolly_sammoth]

This is now coded up and in a release branch on the ALP repo. the functionality is also live on the Heroku test server.
In tests it seems to work as desired. there is a minimum reward of

0.1 * reward

as long as a side has more than 10% of the total liquidity, the ratio of reward is set as an inverse percentage as decribed by @masterOfDisaster.

I’d like to do some more tests just to make sure the functionality is working as it should and then I’d be happy to put this live on NuPool.

[mhps]

I use https://eu.nupool.net/status to get nubit feed price. The server seems to be down now. Is it intentional? If yes where do you suggest to get nbt feed price?