poloLender Pro - smart Poloniex lending bot

poloLender Pro is an automated engine for lending funds on Poloniex exchange. poloLender Pro uses advanced statistical calculation to maximize profits.

The application code is open source and shared on github at https://github.com/dutu/poloLender/

Join poloLender discussion/support group on telegram: https://t.me/cryptozone

Contents

• Features
• What's new
• Supported crypto-currencies
• How it works
  • Why using statistical calculation is more efficient
• Setting up the application
  • Running locally
  • Running on Heroku
• Updating the application
  • Running locally
  • Running on Heroku
• FAQ
• License

Features

• Simple. Easy use.
• Best profitability ensured by using statistical calculation.
• Funds are always lent at best return rates, no configurtation required, just set-and-forget.
• Reports can be sent to your phone on Telegram messenger.
• Web interface (under developement, new features being added).
• Can run locally on your PC or in the cloud (heroku).
• Activelly supported. Join poloLender discussion/support group on telegram: https://t.me/cryptozone or raise an issue.

What's new

Configuration is now done through the web UI (Settings tab)

Supported crypto-currencies

Note: As of July 25, support for lending XMR, XRP, ETH and CLAM is temporarly suspended. This is due low lending rates for these particular currencies and also the need of resources to keep lending support active (funds and computing power). If you'd like to see lending support restored, please contact me on telegram support group or raise an issue on Github.    

How it works

poloLender Pro is:

• an open source application written in JavaScript
• runs on node.js
• can either run locally on your computer or can be hosted on a cloud platform (e.g. Heroku).

poloLender Pro is an automatic bot which lends funds on Poloniex exchange.

The lending rate is calculated using statistical calculation in order to maximize profits.

poloLender Pro does not calculate the lending rate itself, instead the poloLender Pro receives the lending rate from poloLending-Advisor server. poloLending-Advisor is an on-line server hosed at http://safe-hollows.crypto.zone.

In order to calculate optimal lend offer rate, the server continuously monitors the lend-book (active offers) and also calculates the average loan holding time. Based on this data and using statistical calculation poloLending-Advisor server can inform poloLender Pro clients of the rate with best profit returns.

By using historical information and statistical calculation poloLender Pro is able to give better return rates, as comparing with placing offers only looking at a snapshot of the lend book.

Why using statistical calculation is more efficient

As it can be seen in the screen-shot below, poloLender Pro, manages to place offers with good rates

Other bots

Other existing bots are placing loan offers by only looking at a snapshot of the lend-book (active offers available at one point in time). To find out why snapshot of the lend-book does not give information on best return rate, I have written a bot that places small lend offers at the top of the lend-book every minutes.

As you can see in the screen-shot below, often the lend book rates vary widely. For this reason, figuring out the rate that gives best result is not obvious.

In addition, placing offers "randomly" through the lend-book, expecting a spike is not most efficient.

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Setting up the application

Running on Heroku is highly recommended to ensure maximum up-time.

Running locally

1. Download and install node.js

2. Download and install the latest version of Git

3. Clone poloLender application source code from github:

   git clone https://github.com/dutu/poloLender.git
   cd poloLender
   

4. Install the dependencies, preparing your system for running the app locally:

   npm install
   

5. Start the app locally:

   npm start
   

6. Open the poloLender Pro app in your browser:

   Open your internet browser and type in the URL http://localhost:5000

7. Enter authentication token when requested

   Note: The authentication tokens are generated by the poloLender app and displayed in the console log when the app starts-up

8. Got to 'Settings' tab to set your poloLender configuration

Running on Heroku

1. Create a Heroku account if you don't have one already

2. Download and install the Heroku CLI. Once installed, you'll have access to the heroku command from your command line.

3. Log into Heroku:

   heroku login
   

4. Clone poloLender application source code from github:

   git clone https://github.com/dutu/poloLender.git
   cd poloLender
   

5. Create an app on Heroku and deploy the code

   heroku create
   git push heroku master
   heroku ps:scale web=0
   

6. Provision the papertrail and mLab add-ons

   heroku addons:create papertrail
   heroku addons:create mongolab
   

   Note: The add-ons are free; however, to help with abuse prevention, Heroku requires account verification for provisioning an add-on . If your account has not been verified, you will be directed to visit the verification site.

7. Open the papertrail console to see the log messages.

   heroku addons:open papertrail
   

   Note: Keep the papertrail console open to monitor progress

8. Start the application

   heroku ps:scale web=1
   

9. Open the poloLenderPro in your browser

   heroku open
   

10. Enter authentication token when requested

    Note: The authentication tokens are generated by the poloLender app and displayed in the console log when the app starts-up

11. Got to 'Settings' tab to set your poloLender configuration

12. Upgrade your application to Hobby

    Note: By default the Heroku applications run on Free dyno. Free dyno sleeps after a period of activity. Please see https://devcenter.heroku.com/articles/free-dyno-hours#usage for details. It is highly recommended to upgrade the free Dyno to Hobby. Hobby dyno never sleeps. See: https://www.heroku.com/pricing

Updating the application

Updating the application when poloLender code is updated on github

Running locally

1. Stop the poloLender application with CTRL+C

2. Update the local clone from github

   cd poloLender
   git fetch --all
   git reset --hard origin/master
   

3. Update dependencies:

   npm update
   

4. Start the app locally:

   npm start
   

5. Visit poloLender app in your internet browser and verify the app settings

   Note: The authentication tokens are generated by the poloLender app and displayed in the console log when the app starts-up

Running on Heroku

1. Update the local clone from github

   cd poloLender
   git fetch --all
   git reset --hard origin/master
   

2. Verify that both papertrail:choklad and mongolab:sandbox are provisioned for your app

   heroku addons
   

3. If addons above are not provisioned, provision the missing addons

   heroku addons:create mongolab
   

   and/or

   heroku addons:create papertrail
   

4. Open the papertrail console to see the log messages

   heroku addons:open papertrail
   

5. Deploy updated code to heroku

   git push heroku master
   

   The application will restart automatically with the newly deployed code

6. Visit poloLender app in your internet browser and verify the app settings

   Note: The authentication tokens are generated by the poloLender app and displayed in the console log when tha app starts-up

FAQ

See FAQ

License

MIT