Proposal for NBT/BTC dual-side liquidity provider on next NBT exchange

NuShares Passed Grants
#21

Congrats, the proposal passed a few hours ago.

1 Like
#22

The grant passed @ 22 Dec 2014 23:42
I will start operations as soon as the exchange and nubot is ready.

Update 09 Jan: I created my custodian account on Poloniex. I am running the Nubot v 0.1.4a with a small size of fund now.
I am going to start the LPC operation in a few days, with 10k in buy side and 10k in sell side.

??: Strategy - Submit order : SELL 50.0 nbt @ 0.00349492 btc
Jan 09, 2015 12:58:33 PM com.nubits.nubot.tasks.StrategySecondaryPegTask initOrders
??: Strategy - Submit order : SELL 50.0 nbt @ 0.00349492 btc
Jan 09, 2015 12:58:39 PM com.nubits.nubot.tasks.StrategySecondaryPegTask initOrders

Update 12 Jan: I have tried several configurations and played Nubot for a few days. It is quite stable. Here is the trade history:
Date Market Type Price Amount Total Fee Base Total Less Fee Quote Total Less Fee
1/11/2015 20:58 NBT/BTC Sell 0.00374656 16.30279058 0.06107938 0.20% 0.06095722 -16.30279058
1/11/2015 20:58 NBT/BTC Sell 0.00374656 16.30279058 0.06107938 0.20% 0.06095722 -16.30279058
1/11/2015 20:57 NBT/BTC Sell 0.00373707 32.60558116 0.12184933 0.20% 0.12160564 -32.60558116
1/11/2015 19:35 NBT/BTC Buy 0.00372034 3.9172259 0.01457341 0.20% -0.01457341 3.90939145
1/11/2015 19:35 NBT/BTC Buy 0.00372034 3.9172259 0.01457341 0.20% -0.01457341 3.90939145
1/11/2015 19:21 NBT/BTC Buy 0.00371341 0.06852845 0.00025447 0.20% -0.00025447 0.06839139
1/11/2015 19:20 NBT/BTC Buy 0.00371341 2.75375228 0.01022581 0.20% -0.01022581 2.74824478
1/11/2015 19:19 NBT/BTC Buy 0.00371341 6.44534702 0.02393421 0.20% -0.02393421 6.43245633
1/11/2015 19:19 NBT/BTC Buy 0.00371341 6.44534702 0.02393421 0.20% -0.02393421 6.43245633
1/11/2015 19:18 NBT/BTC Buy 0.00371341 6.44534702 0.02393421 0.20% -0.02393421 6.43245633
1/11/2015 19:18 NBT/BTC Buy 0.00371341 6.44534702 0.02393421 0.20% -0.02393421 6.43245633
1/11/2015 16:02 NBT/BTC Buy 0.00367352 0.02812224 0.0001033 0.20% -0.0001033 0.028066
1/11/2015 16:02 NBT/BTC Buy 0.00367351 0.02812224 0.0001033 0.20% -0.0001033 0.028066
1/11/2015 7:58 NBT/BTC Sell 0.00362853 8.06767038 0.02927378 0.20% 0.02921524 -8.06767038
1/11/2015 7:58 NBT/BTC Sell 0.00362853 36.85745632 0.13373838 0.20% 0.13347091 -36.85745632
1/11/2015 6:34 NBT/BTC Buy 0.00360021 1.8675843 0.00672369 0.20% -0.00672369 1.86384913
1/11/2015 2:52 NBT/BTC Sell 0.00358093 5 0.01790465 0.20% 0.01786884 -5
1/10/2015 23:42 NBT/BTC Sell 0.00362985 15 0.05444775 0.20% 0.05433885 -15
1/10/2015 18:32 NBT/BTC Buy 0.00357285 0.03 0.00010718 0.20% -0.00010718 0.02994
1/10/2015 18:32 NBT/BTC Buy 0.00357285 3.1 0.01107583 0.20% -0.01107583 3.0938
1/10/2015 15:11 NBT/BTC Sell 0.00358428 0.0281786 0.00010099 0.20% 0.0001008 -0.0281786
1/10/2015 14:53 NBT/BTC Sell 0.00361064 5 0.0180532 0.20% 0.01801709 -5
1/10/2015 14:18 NBT/BTC Sell 0.0036267 5 0.0181335 0.20% 0.01809723 -5
1/10/2015 1:07 NBT/BTC Buy 0.00346797 1.12767229 0.00391073 0.20% -0.00391073 1.12541695
1/10/2015 1:07 NBT/BTC Buy 0.00346797 0.60264278 0.00208994 0.20% -0.00208994 0.60143749
1/10/2015 1:07 NBT/BTC Buy 0.00346797 1.73031507 0.00600068 0.20% -0.00600068 1.72685444
1/9/2015 23:14 NBT/BTC Sell 0.00345412 1.89819983 0.0065566 0.20% 0.0065435 -1.89819983
1/9/2015 23:14 NBT/BTC Sell 0.00345412 2.80000695 0.00967156 0.20% 0.00965222 -2.80000695

and liquidityinfo
"B5viA2YWcoLBvT8TWJywasQyAT9xkwhmWc" : {
“buy” : 98.0069,
“sell” : 0.0
},
I will start operation soon.

Update 15 Jan: I need some more time to prepare the full size fund. The operation will begin in 12 days. I am committed to my proposal. Thank you for understanding.

Update 24 Jan: I will begin LPC operation on Poloniex in about 1 day. Thanks.

#23

Operation started on Poloniex

**
The LPC operation just started ( 24 Jan 2015, 15:00 GMT ) and will run for 30 days.

My open orders:

Liquidityinfo :
“B5viA2YWcoLBvT8TWJywasQyAT9xkwhmWc” : {
“buy” : 10267.3183,
“sell” : 9999.9647
},

6 Likes
#24

Henry,

What is your plan moving forward? I haven’t seen your bot online recently.

pb

#25

I am sorry. I didn’t respond to you earlier. I am out of the town in last two weeks.
I just came back and checked My Nubot’ log files and found it is running all the time. But at the time span between Feb 15,2015 23:58 and Feb 21,2015 09:45. I doesn’t function right. It kept sending Liquidity Info : 0.68077141 0.0 {“submitted”:true}

I don’t know why. Maybe I can provide the log file in my VPS to help the analysis.

I will extend my operation for 6 days, and end it at 01 March 2015, 15:00 GMT.

Regarding my plan, I will participate the NSR auction held by Jordan LEE. I am also considering participate the liquidity pool operated by KTM or jamiller, or try to run my own liquidity pool in future.

#26

Maybe you should consider reimbursing shareholders the fee you charge for this long period when the bot failed because you didn’t tend it?

1 Like
#27

==

#28

Perhaps shareholders ought to discuss how to handle MIA custodians. Personally, at 6 days (20% of the proposal) I would consider it nullified. BTER was hacked on the 15th so this is a big coincidence, we are to believe.

I think best practice for custodians who wish to modify their proposals is to propose a motion with the new terms and I think @henry ought to be forced to do the same.

#29

I think the above is fair enough.

#30

I am sorry to what happened in Bter and excoin. I am also scared and worried about the safety of my fund very much.
I am also sorry to let you feel I was MIA, But, I never withdrew any funds, and they stay at Poloniex all the time. In fact, I couldn’t provide much buy support during the crisis.
Because at 15th Feb, most of my fund was on sell side already, only about 3k left in buy side. those buy side fund was immediately consumed when the Nubot recovered again at 21st Feb.

Thank you for your understanding, cryptog.

#31

You cannot argue that it will be good to have a plan for how to deal with these issues in the future. It should not just be a matter of a custodian moving days around and I think it would be really bad to set that precedent. Ultimately it is up to JordanLee because you asked for NSR reward. If it were an NBT reward though, shareholders would have to approve the reward. Whether or not the terms were met would be debatable.

#32

The shareholders reward LPCs mostly for taking risks. Your proposed operation was approved in December and dodged the bullet of the Jannuary BTC price crash and the exchange crisis in February basically by not being there. If I would apply for a pool-operatorship I would try way harder to prove I’m up to the challenge.

#33

I was waiting for an available exchange after my proposal was approved, desrever and fearmore could prove that.
I never withdraw any fund from poloniex. I was keep running nubot all the time. I was not awared the nubot was not function right that time.
I can provide all the log files in my vps. After my operation end .I can publish my account and password on poloniex. Any one can login and check my trade & withdraw history.
I am doing everything what I said in my proposal.

#34

Yes your proposal didn’t specify when to start operation after motional approval, or how frequent you will tend the bot. That liquidity was missing for days is still a sign of inexperience and a lack of attention, which are not good signs for a pool operator. Experiences can be gained. Attention is more related to attitude.

I think the following could be in a standard question list for future LPC applicant:

  • When are you going to start operation after motion is approved?
  • Are you going to tend the bot at least once a day?
    From other LPC operations
  • Do you plan to re-banlance the buy/sell sides ? If yes, do you impose conditions on re-balancing?
1 Like
#35

Shareholders can self organize into somewhat of a caucus or alliance which seeks to get prospective custodians to answer a simple questionnaire that lists these items, even the most obvious, if they are left out of a custodian’s proposal. People regularly hand out questionnaires for political candidates. This is something that interests me. I think I will put something together and start a thread about it. I hope shareholders, including @henry, realize that this is very important. Custodians cannot come and go as they please and should at least be checking for a pulse on a regular basis.

1 Like
#36

My LPC operation of this proposal ended. I wouldn’t withdraw all the fund immediately. I will run the nubot for a while for free. I will use some fund to do some test and preparation before The Nu Lagoon begin operation.

2 Likes
#37

My absence at the time BTER went bust was because I was on vocation.
The Nubot was running all the time and producing log files. I uploaded them to github.

1 Like