Instructions for LiquidBits

                             Providing liquidity for NuBits in exchange for daily interest rate payouts

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In a nutshell: You run a program that places NBT, EUR, USD and BTC orders on an exchange with a very small spread. The program will send proofs of those orders to a server which in turn pays you interest in the form of NuBits. There is no sign-up fee or registration for the pool and the funds remain under your control.
An account on a supported exchange is required.

Important: Neither the developer of this software, nor the liquidity operation on LiquidBits.net is in any way related to the official Nu core-team. The funds for the payout has been provided by the NuShareholders through a custodial grant.

Go to the Nubits forum
   Server settings
    Server status
  NuBits Forum



The software runs on Python. This is already installed on Linux and Mac, but not on Windows. You can either install Python yourself (see instruction below) or use the automatic installer which comes with the Plunge graphical interface.
When you have used Nu-Pool or LiquidBits before, you can go directly to step 4.
When you have already created an exchange account and API key for other bots you can skip 1 and 2.
There are no fees to join, no pool registration and there is no minimum amount to join. You can join with just a few NBTs, USDs, or Euros or the equivalent in Bitcoin. Please check out the trading fees on the exchanges.

Support is provided on the Nubits forum, leave me a PM or send me a Bitmessage: BM-NB6Fs5U3Rvi6WEnCZ6F2WehUBjkxD7bz
See also the FAQs and instruction below.

Current pay-out rates (till 10-Sep / Term 3)

The rates and settings for this run are set on the server as follows:

  • CCEDK NBT/USD pair rate 0.20%/day max 5000 NBT on both bid and ask side
  • CCEDK NBT/EUR pair rate 0.22%/day max 1500 NBT on both bid and ask side
  • CCEDK NBT/BTC      pair rate 0.35% on bid side and 0.25%/day on ask side. Max 1250 NBT on both sides
  • Bitcoin.co.id NBT/BTC pair rate 0.35% on bid side and 0.25%/day on ask side. Max 2500 NBT on both sides
Payout is every 24 hour. Minimum payout is 1 NBT. The pay-out accumulates until you hit the threshold of 1 NBT.

Rates valid from 10-Sep-2015 till 10 Oct-2015 (Term 4) - currently voting
  • CCEDK NBT/USD pair rate 0.20%/day max 7500 NBT on both bid and ask side
  • CCEDK NBT/EUR pair rate 0.22%/day max 2500 NBT on both bid and ask side
  • CCEDK NBT/BTC pair rate 0.35% on bid side and 0.25%/day on ask side. Max 1500 NBT on both sides
The Bitcoin.co.id pool is terminated as they delisted the NBT/BTC pair by 15 Sep.

Please let me know if you are stuck or there are mistakes in the instructions below or the .conf files provided. Happy to guide you through. Please be aware I'm in a different timezone and not 24/7 available but I will respond eventually.

Checking server status

You can check some basic information of the server status here: http://nbt.liquidbits.net/status.
When users=0 then the server is most likely down. The liquidity is the total of all liquidity provided by the pool members.

You can check the raw json output of existing orders here:
The utilisation of all Nu's TLLP pools can be found here: https://raw.nupool.net/?pairs=true

Instruction for installing and using LiquidBits.net

Step 0 Installing Python

If you are on Linux or Mac OS, then you don't need to install Python because it comes with the operating system, goto to step 1.

Option 1 (recommended): Install Plunge as it comes with a nice auto-installer for Python. Check it out here: Plunge discussion or download here.
When you install Plunge you can skip all steps below, except step 1,2 and 3. You can then add your settings in a graphical interface.

Option 2: On Windows you can download and install Python from here yourself.

Step 1 Signing up with an exchange
You can join when you have or open an account on www.CCEDK.com or www.Bitcoin.co.id. For you own safety please enable two-factor authentication especially when you have more than just a few test NBTs on the exchange. Add some NBT, BTC or transfer some EUR or USD to your account depending on which pairs and exchange you like to provide liquidity. You can do some basic testing without any balance though.

Step 2 Creating API keys
You will need to create so-called API keys. They always come in pairs. There is a public key and a secret or private key. On CCEDK you can find that under 'My account' (click on your login name on top right corner) and choose API keys On Bitcoin.co.id you can find it under 'Account' on the left and then goto 'Android App + Trade API'

Step 3 Download the software together with Plunge
When you haven't installed Plunge in step 0 go to step 3b.
Plunge users start Plunge (shortcut on the desktop) and goto Settings
A whole list of settings appear:
Enter the following:
after Server IP/Hostname: nbt.liquidbits.net
after Server Port: 80
further down after Monitor click on the switch to turn it ON
You are now able to monitor the pool.

If you like to add your funds to the pool click on the exchanges where your funds reside under Settings
1) Add the API keys you have created on the exchange
2) Add the NBT adress where you like to receive the payouts (this can also be your Android wallet address)
3) Add the pair you like to submit liquidit to e.g. select USD for the NBT/USD pair
4) Click on 'set rates' to set a minimum interest rate with the sliders.
5) Set the Bot to PyBot
6) Click Ok and your data will be saved.
     When all went well you will see a '1' after the exchange you have chosen.
7) Now click the switch after 'Monitor' to turn it OFF
8) Click 'Close' in the top right corner
9) At the bottom of the home screen you will now see a 'Start' button. Click Start to submit you liquidity to the pool.
    When this went well you will see :The client is running' and some messages appearing underneath. You will also see your
    liquidity provided under Personal stats.

You can skip the next steps. There is some useful other information about the pool further down after these steps.

Step 3b Download the software and manualy run the client(s)

Download the zip (Windows) or tarball (Linux) here. Unpack the zip on a suitable location e.g. c:/program files/nu-pool.
For Windows, you will need to create that first and move the ZIP into that folder.
For Linux, it is best to create a map under /home/<your username>/nu-pool.
Before you start make sure you have read and understood the disclaimer in the readme.md from the ZIP you just unpacked.
You can also read it here.

Note: The software is completely platform independent. The only purpose of different folders for Windows and Unix based systems is to provide specialized starting scripts. You can also just call the script within the python folder if you prefer.

Step 4 Adding your API keys and settings

For Windows:

  • Open explorer and go to the location where you unpacked the ZIP
  • Open the 'nu-pool-x.yyLB' folder (where x.yy is the version number e.g. 1.00)
  • Open de 'windows' folder
  • Edit the .bat file (right click,edit) with the exchange you like to start with e.g. pool-ccedk-usd.conf

When open look for the header REQUIRED PARAMETERS,

1) replace the 'xxxxxx' under NuBits pay-out addres with an address from your wallet. On this address you will receive any pay-outs
2) replace the 'xxxxx' under Api-key from the exchange with the first key you have created under step 2
3) replace the 'xxxxx' under Api-secret from the exchange with the second key you have created under step 2
    Make sure you never share the second secret key with anyone else. It is like your password.
4) Edit the minimal interest rate you want under optional parameters (default=0 is pool maximum). You will need to enter it for the bid and sell side separated with a comma like this: 0.25,0.1
(0.25 = 0.25%/day for sell side, 0.1 = 0.10%/day for buy side. When the rates fall below that your order will no longer be part of the pool)
5) Save the file with File-Save and then File-Exit.

For Linux
  • Open a shell (command prompt)
  • cd /home/<your username>/nu-pool (or the alternative location where you have unpacked the tar)
  • Use an editor, e.g. 'nano' to edit the file of the exchange you like to start with e.g. pool-ccedk-usd.
  • Follow step 1 to 4 under step 4 above
  • CTRL-X and enter to exit nano and save the file.

We are now getting close!

Step 5 Starting the bot (final)

For Windows:
  • Start (double click) the .bat file (there are three of them) of the exchange and pair you like to start with.
    (when it complains about compression, you haven't unzipped the file (step 3) you downloaded or you are looking into the zip instead of the directory where you were supposed to unzip to)
At this point a dos command box (cmd.exe) opens.
When all went well, it would show something like this:

    X:\temp\NuBits\Order-bots\Nu-pool-0.9\python>..\python\client.py pool-ccedk-liqu
    2015/04/27-19:47:09 INFO: starting PyBot for eur on ccedk
    2015/04/27-19:47:11 INFO: successfully deleted all orders for eur on ccedk
    2015/04/27-19:47:12 INFO: waiting 4.70 seconds to synchronize with other trading
    bots for eur on ccedk
    2015/04/27-19:48:09 INFO: ccedk - balance: 0.00000000 rate: 0.00% ppm: 0.0000000
    0 efficiency: 0.00% rejects: 0 missings: 0 - WN6G1LV3WX20REQPGGZNRJL6H09R8OJ1465

You will see it registering as above and it puts your entire balance on this pair on order. Therefore it can be handy to have a second account or move some funds if you still want to do other trades at the same time or don't want your entire balance on order. If you want you can have a look at the exchange itself at the same time and you will see that your order is automatically placed by the bot and adjusted when the exchange rates move.

For Linux:
  • In /home/<your username>/nu-pool/linux you will find a couple of bash files. Start the file for the exchange and pair you are providing liquidity for
    (the output is similar as the Windows output above)

Description of the output:
balance: The total amount of unpaid NBT.

rate: Your effective interest rate, which corresponds to the expected daily interest rate you will get for the orders currently placed.

ppm: Payout per minute. The amount of NBT that were added to your balance over the last minute.

efficiency/rejects/missings: If the connection to the server or to the exchange is bad, then the server will not be able to validate your orders and therefore cannot compensate your liquidity. If a request never reached the server, you will see it by a non-zero number of missings. If your requests reach the server, but cannot be validated at the exchange, then you will see a non-zero number of rejects. The efficiency corresponds to the fraction of all requests which are neither a missing nor a reject. Your client will automatically try to fix efficiency issues, so if you are experiencing low efficiency values then please give the client up to 30 minutes to optimize its behavior.

bid/ask: The total sum of your orders as recognized and compensated by the server on the corresponding side of the market.

* Please be aware that the bot on bitcoin.co.id is sometime underperforming with only 90% to 98% efficiency on average (during testing). This may vary for you. This will decrease your pay-out slightly with up to 10% worst case. When you have worse results on average it is likely that you may have issues with your internet connection or the capacity of the client (e.g. when using Raspberry PIs).

Stopping the bot / .bat

To stop the bot on your client and with that the .bat file, click in the dos box and press CTRL-C. The bot terminates and cancels your orders. When your computer is turned off without cancelling your order, your order will still be on the exchange! Restarting the bot and properly cancelling them works or otherwise just log into the exchange to manually cancel the orders.

Mac install and manuals
Best to use the Plunge software. You can run without it if you want to. Liquidbits.net is just a different server/pool and the only things which are different are the .conf files. If you know what you are doing, it can be made to work on a Mac command line with bash files.

Running on nu-pool, liquidbits.net and other pools at the same time
You can run two or more .bat files and Plunge (e.g. for Bittrex on nu-pool and ccedk on liquidbitsnet) at the same time as long as they are on a different exchange. For running two bots on the same exchange at the same time but on different pairs (e.g. USD/NBT and EUR/NBT), you will need two accounts on the exchange.

Frequently Asked Questions

Why are the NuShareholders providing funds for holding my money on an exchange?
NuBits are pegged to the US dollar. The way to sustain that is to have adequate funds on many exchanges ensuring that everyone who wants to buy or sell a NuBit can always be offered a dollar or the equivalent of that in e.g. Euro or Bitcoin. The more liquidity is available the more NuBits can be used for larger payments e.g. loans or salaries and by more people at the same time. This will increase the number of transactions and with that more transaction fees can be collected. That will increase the value of the network as a whole and with that likely the NSR share price.

Why do I not always get the maximum payout as advertised?
The pool follows a Dutch auction style method to ensure a fair distribution of the maximum interest available for pay-out. Practicially this means that when the maximum liquidity (see server settings above) is reached the interest for each participant in the pool will decrease. When there is a lot of competition you may consider to set a minimum interest rate (default=~0) in the client. Check the instructions under step 4 on how to do that. When rate goes below the minimum interest rate your funds will be automatically released from the pool (tier 1) to the exchange (tier 2). At that stage you may wish to withdraw your funds from the exchange to your own wallet (tier 3) to mitigiate the risk of exchange default.

Can I receive my interest directly on my NuDroid wallet?
Yes, you can. Just provide an address from your NuDroid wallet when at step 4. When your payouts reach the threshold you will see (and hear) your interest coming in every 24 hours. Just make sure it doesn't keep you from your sleep ;-)

Can I receive my interest in BTC or PPC?
No, you can only receive your interest in NuBits (NBT).
You can however use services like Shapeshift.io to convert your NBT instantly or use NuDroid to pay with Bitcoins.

Is this legal?
The server will be ensured to run as a completely legal operation. The legal situation regarding participation depends on your home country. It is often considered similar to Bitcoin mining, but this doesn't have to be the case. (We are not able to give any legal advice at all regarding this, so please consult an expert if you are not sure).