Intro @Nagalim - below called “the operator” - will run a NuBot on Poloniex. The liquidity is being broadcast using a custodial address to allow tracking the liquidity situation of the bot. The operator promises to send all withdrawn funds to a FLOT multisig address, and will do so upon request of a majority of the FLOT members or by a passed NSR holder motion.
Function As a general guideline, half the funds in the account should be withdrawn once a week. If the operator will be unavailable to check on the bot on a regular basis, or if the funds on one side are worth less than $1000, all the funds on the account (or on the one side) will be withdrawn. The operator may also actively choose to withdraw or abstain from withdrawal at any time by discretion and will communicate the reasoning behind such actions. A refusal to obey majority FLOT requests with regards to this liquidity source constitutes breaking of this contract.
Start of Operation Operation begins on the day NuBot puts the first deposit of funds by FLOT on the order book. In case NuBot is on standby (not running) and the FLOT deposits funds, operation will begin on the day NuBot gets started and puts orders on the book.
Compensation The operator charges 150 NBT for each 30 days of operation. Grants will be proposed when convenient, and may group payment for several completed 30 day periods to ease the burden of shareholders. Any 30 day period in which the operator is absent (communicated via appropriate channels with a full withdrawal) will be free for shareholders. Any payment period in which the poloniex account in question contains no funds will also be free for shareholders (allowing FLOT to effectively cease operation starting at the next payment period).
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Verify. Use everything between and including the <custodianhash></custodianhash> tags.
I have a problem with this. Without this there is not much value. I can run a NuBot or NuBots monitoring only in the weekends or when I accidentally have some time. Would that be useful, probably not.[quote=“zoro, post:2, topic:3399”]
you don’t set any time limit for the operation
Also not keen to have limitless operations. I would prefer a 60 or 90 day term and then voting for a new term.
Even if you don’t specify a monitoring commitment, the proposal is still useful and valuable due to the luck of liquidity. If anyone can setup a nubot and even check on it during weekends it is fine by me. Of course it would have an impact in QoS (Quality of Service) but this is connected also to the compensation that is asked
It just occurred to me that I don’t need NuBot for this. I can just run a PyBot on the Poloniex exchange with the LiquidBits ALP software and reducing the rewards to zero on NBT/BTC pair. PyBot responds as soon as a balance occurs and will place it on order automatically. Not much to monitor. Can run this for free as it just requires me to run one more bot besides the others I’ve already running. No guarantees though, just daily checks. All ALP operators can provide this service excluding NuPool itself as they already service this pair with a reward. The ALP server config wouldn’t allow two reward types on one pair.
Edit: only limited to adjust the spread beyond the ALP spread.
Agree, that NuBot is generally better, but it doesn’t place orders immediately as PyBot does. That is an advantage over NuBot. Besides PyBot is proven and we know all the bugs which come with it. Don’t see a major issue for not using it for gateways for now.
This has been reworded somewhat and hashed. Please note that I have not completely set up NuBot (and haven’t heard a thing about the certificate or whatever that i need; I filled out the form) but I’m fairly confident I can get it up and running in a jiffy after this passes. Of course, I will not charge shareholders a dime until NuBot is putting FLOT funds on the order books.
I’m still torn as it is a limitless operation hard to control for Shareholders. There is no end date and the only way to end this operation appear to be raising a motion or the custodian saying they had enough.
The compensation is also not entirely clear to me. When the gateway is used for a couple of days during a 30 day period would that become chargeable for a full 30 day period? And what if FLOT doesn’t use the gateway for 30 days in a row at all after having it used at least once?
You’re right, i forgot a clause about if the bot has no funds for a full period i won’t charge. But yes, if FLOT deposits funds for 1 day and demands a withdrawal the next day i intend to charge 150 nbt. If you want me to rehash with the clause i will. (Note that such a clause allows FLOT to discontinue my operation)