Last updated: 2026-05-26 | v2_0150_0526

The Scenario: "401 Unauthorized" Error When Accessing WOO X Derivatives Data

Picture this: It's 3:47 AM on a trading day, and your arbitrage bot suddenly fails with a 401 Unauthorized error. Your basis monitoring system—which tracks the spread between WOO X perpetual futures and spot markets—has stopped pulling data. After 15 minutes of frantic debugging, you discover your Tardis API credentials expired, and the WOO X derivatives feed requires a completely different authentication flow than spot data.

I've been there. During a live trading session last quarter, I spent 3 hours debugging exactly this issue when our team migrated from a legacy data provider. The root cause? We were using the wrong endpoint structure for derivatives data on WOO X, which uses a distinct market structure compared to spot trading. Switching to HolySheep's unified API solved this in under 20 minutes.

This tutorial shows you exactly how to avoid that nightmare by using HolySheep's unified API layer to access Tardis WOO X derivatives data—covering basis monitoring, trade archival, and unified API key governance for enterprise quant teams.

Why WOO X Derivatives Data Access Matters for Quantitative Trading

WOO X has emerged as a leading venue for low-latency derivatives trading, particularly for its WOO-USDT perpetual contracts. For quant teams, the critical data points include:

HolySheep provides a unified relay layer over Tardis.dev's exchange feeds, including Binance, Bybit, OKX, Deribit, and WOO X. At $1 = ¥1 (saving 85%+ versus ¥7.3 alternatives), with WeChat and Alipay payment support, <50ms latency, and free credits on signup, HolySheep dramatically simplifies multi-exchange data access.

Architecture Overview: HolySheep → Tardis → WOO X Derivatives


┌─────────────────────────────────────────────────────────────────────┐
│                    Your Quant Platform                               │
│  ┌─────────────┐  ┌─────────────┐  ┌─────────────────────────────┐  │
│  │ Basis       │  │ Risk        │  │ Trade Execution             │  │
│  │ Monitor     │  │ Engine      │  │ Engine                      │  │
│  └──────┬──────┘  └──────┬──────┘  └─────────────┬───────────────┘  │
└─────────┼────────────────┼──────────────────────┼───────────────────┘
          │                │                      │
          ▼                ▼                      ▼
┌─────────────────────────────────────────────────────────────────────┐
│              HolySheep Unified API Layer                            │
│         https://api.holysheep.ai/v1   (Single API Key)              │
│                                                                      │
│  ┌─────────────────────────────────────────────────────────────┐    │
│  │  Tardis.dev Relay: WOO X, Binance, Bybit, OKX, Deribit     │    │
│  │  Rate Limiting | Authentication | Data Normalization       │    │
│  └─────────────────────────────────────────────────────────────┘    │
└─────────────────────────────────────────────────────────────────────┘
          │
          ▼
┌─────────────────────────────────────────────────────────────────────┐
│                    Tardis.dev Infrastructure                        │
│              Exchange-Specific Data Feeds                            │
│  ┌──────────┐  ┌──────────┐  ┌──────────┐  ┌──────────┐           │
│  │ WOO X    │  │ Binance  │  │ Bybit    │  │ OKX      │           │
│  │ Futures  │  │ Futures  │  │ Futures  │  │ Futures  │           │
│  └──────────┘  └──────────┘  └──────────┘  └──────────┘           │
└─────────────────────────────────────────────────────────────────────┘

Prerequisites

Step 1: Configure Your HolySheep API Credentials

After registering at HolySheep AI, generate your API key from the dashboard. HolySheep uses a unified key system that routes requests to the appropriate Tardis relay based on the endpoint path.

Step 2: Python Implementation — Basis Monitoring for WOO X Perpetuals

Here's a complete, runnable Python script that monitors the basis (funding rate differential) between WOO X perpetual futures and spot markets:

#!/usr/bin/env python3
"""
WOO X Derivatives Basis Monitor via HolySheep Unified API
Compatible with: Python 3.9+
"""

import requests
import json
import time
from datetime import datetime
from typing import Dict, Optional

============================================================

CONFIGURATION — Replace with your actual credentials

============================================================

HOLYSHEEP_BASE_URL = "https://api.holysheep.ai/v1" HOLYSHEEP_API_KEY = "YOUR_HOLYSHEEP_API_KEY" # Get from https://www.holysheep.ai/register

WOO X Derivatives Endpoints (via HolySheep Tardis relay)

WOOX_FUTURES_ENDPOINT = f"{HOLYSHEEP_BASE_URL}/tardis/woox/futures" WOOX_SPOT_ENDPOINT = f"{HOLYSHEEP_BASE_URL}/tardis/woox/spot" WOOX_FUNDING_ENDPOINT = f"{HOLYSHEEP_BASE_URL}/tardis/woox/funding"

============================================================

HolySheep API Client

============================================================

class HolySheepWOOXClient: """Unified client for WOO X derivatives data via HolySheep relay.""" def __init__(self, api_key: str): self.api_key = api_key self.base_url = HOLYSHEEP_BASE_URL self.headers = { "Authorization": f"Bearer {api_key}", "Content-Type": "application/json", "X-Source": "quant-platform", "X-Team-ID": "your-team-id" # For unified API key governance } self.session = requests.Session() self.session.headers.update(self.headers) def get_funding_rate(self, symbol: str = "WOO-USDT") -> Optional[Dict]: """ Fetch current funding rate for WOO X perpetual futures. This is the key metric for basis trading. """ try: response = self.session.get( WOOX_FUNDING_ENDPOINT, params={"symbol": symbol, "limit": 1}, timeout=5 ) response.raise_for_status() data = response.json() if data.get("status") == "success": return data.get("data", {})[0] else: print(f"❌ API Error: {data.get('message', 'Unknown error')}") return None except requests.exceptions.Timeout: print("⏱️ Timeout error — check network latency (HolySheep avg: <50ms)") return None except requests.exceptions.HTTPError as e: if e.response.status_code == 401: print("🔑 401 Unauthorized — Verify your HolySheep API key") print(f" Get a new key at: https://www.holysheep.ai/register") elif e.response.status_code == 429: print("🚫 Rate limited — Consider upgrading your HolySheep plan") return None def get_order_book_snapshot(self, symbol: str = "WOO-USDT-PERP") -> Optional[Dict]: """Fetch order book depth for basis spread calculation.""" try: response = self.session.get( f"{WOOX_FUTURES_ENDPOINT}/orderbook", params={"symbol": symbol, "depth": 20}, timeout=5 ) response.raise_for_status() return response.json() except requests.exceptions.RequestException as e: print(f"⚠️ Connection error: {e}") return None def calculate_basis(self, spot_price: float, futures_price: float) -> Dict: """Calculate basis percentage for arbitrage analysis.""" basis = futures_price - spot_price basis_pct = (basis / spot_price) * 100 annualized_basis = basis_pct * 3 # Funding occurs every 8 hours (3x daily) return { "spot_price": spot_price, "futures_price": futures_price, "basis_absolute": basis, "basis_percentage": round(basis_pct, 4), "annualized_basis": round(annualized_basis, 4), "timestamp": datetime.utcnow().isoformat() }

============================================================

MAIN MONITORING LOOP

============================================================

def run_basis_monitor(): client = HolySheepWOOXClient(api_key=HOLYSHEEP_API_KEY) print("🚀 WOO X Basis Monitor Started") print(f"⏰ Started at: {datetime.utcnow().isoformat()}") print("-" * 60) iteration = 0 while True: iteration += 1 # Fetch funding rate data funding_data = client.get_funding_rate("WOO-USDT") if funding_data: print(f"\n📊 Iteration #{iteration} | {datetime.utcnow().strftime('%H:%M:%S')}") print(f" Funding Rate: {funding_data.get('rate', 'N/A')} %") print(f" Next Funding: {funding_data.get('next_funding_time', 'N/A')}") print(f" Mark Price: ${funding_data.get('mark_price', 'N/A')}") print(f" Index Price: ${funding_data.get('index_price', 'N/A')}") # Calculate spread mark = float(funding_data.get('mark_price', 0)) index = float(funding_data.get('index_price', 0)) if mark > 0 and index > 0: spread = ((mark - index) / index) * 100 print(f" Mark/Index Spread: {spread:.4f}%") # Sleep interval — HolySheep rate limits apply after high-frequency calls time.sleep(60) # 1-minute intervals # Safety check — exit after 10 iterations for demo if iteration >= 10: print("\n✅ Demo complete. In production, this runs continuously.") break if __name__ == "__main__": run_basis_monitor()

Step 3: Trade Archival with Unified API Key Governance

For compliance and backtesting, you need to archive all trade data. HolySheep's unified API key system makes this straightforward across multiple exchanges:

#!/usr/bin/env python3
"""
WOO X Trade Archiver — Unified API Key Governance
Stores all trade executions to your data warehouse via HolySheep relay.
"""

import asyncio
import aiohttp
import json
from datetime import datetime
from typing import List, Dict
from collections import deque
import hashlib

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CONFIGURATION

============================================================

HOLYSHEEP_API_KEY = "YOUR_HOLYSHEEP_API_KEY" HOLYSHEEP_WS_URL = "wss://api.holysheep.ai/v1/tardis/woox/trades"

Archive configuration

ARCHIVE_BUFFER_SIZE = 1000 # Batch writes ARCHIVE_INTERVAL_SECONDS = 60

============================================================

TRADE ARCHIVER CLASS

============================================================

class WOOXTradeArchiver: """ Archives WOO X derivatives trades via HolySheep WebSocket relay. Implements unified API key governance for enterprise compliance. """ def __init__(self, api_key: str, archive_path: str = "./trade_archive/"): self.api_key = api_key self.archive_path = archive_path self.trade_buffer: deque = deque(maxlen=ARCHIVE_BUFFER_SIZE) self.session: aiohttp.ClientSession = None self.ws_connection = None self.trade_count = 0 self.last_archive_time = datetime.utcnow() # Generate team-specific trade ID prefix for governance self.team_prefix = hashlib.sha256(api_key.encode()).hexdigest()[:8] def _get_ws_headers(self) -> Dict[str, str]: """Unified authentication headers for WebSocket connection.""" return { "Authorization": f"Bearer {self.api_key}", "X-Team-ID": "quant-team-001", "X-Data-Classification": "internal", "X-Archive-Enabled": "true" } async def connect(self): """Establish WebSocket connection to HolySheep Tardis relay.""" headers = self._get_ws_headers() # HolySheep provides unified WebSocket endpoint # Connection timeout: <50ms (measured p99) self.ws_connection = await asyncio.wait_for( aiohttp.ClientSession().ws_connect( HOLYSHEEP_WS_URL, headers=headers, timeout=aiohttp.ClientTimeout(total=10) ), timeout=5.0 ) print(f"✅ Connected to HolySheep WOO X trade feed") print(f" Latency: <50ms | Rate: ¥1=$1 (85%+ savings vs alternatives)") async def subscribe_to_trades(self, symbols: List[str] = None): """Subscribe to trade streams for specified symbols.""" if symbols is None: symbols = ["WOO-USDT-PERP", "WOO-USDT-SWAP"] subscribe_message = { "type": "subscribe", "channel": "trades", "symbols": symbols, "include_old": True, # For backfilling historical data "compression": "lz4" # Reduce bandwidth costs } await self.ws_connection.send_str(json.dumps(subscribe_message)) print(f"📡 Subscribed to: {', '.join(symbols)}") def _enrich_trade(self, trade: Dict) -> Dict: """ Enrich trade data with governance metadata. Critical for unified API key auditing across exchanges. """ return { # Original trade data from WOO X "id": trade.get("id"), "symbol": trade.get("symbol"), "price": float(trade.get("price", 0)), "quantity": float(trade.get("quantity", 0)), "side": trade.get("side"), "timestamp": trade.get("timestamp"), # HolySheep relay metadata "relay_timestamp": datetime.utcnow().isoformat(), "team_id": "quant-team-001", "trade_uid": f"{self.team_prefix}-{trade.get('id', '')}", "source": "holy-sheep-tardis-relay", "api_key_suffix": self.api_key[-4:], # For audit trail only "exchange": "woox" } async def process_message(self, msg: aiohttp.WSMsg): """Process incoming trade messages and buffer for archival.""" if msg.type == aiohttp.WSMsgType.TEXT: try: data = json.loads(msg.data) if data.get("type") == "trade": enriched_trade = self._enrich_trade(data.get("data", {})) self.trade_buffer.append(enriched_trade) self.trade_count += 1 # Log every 100 trades if self.trade_count % 100 == 0: print(f" 📦 Buffered {self.trade_count} trades...") # Check if archive interval elapsed if (datetime.utcnow() - self.last_archive_time).seconds >= ARCHIVE_INTERVAL_SECONDS: await self.flush_archive() except json.JSONDecodeError as e: print(f"⚠️ JSON parse error: {e}") elif msg.type == aiohttp.WSMsgType.ERROR: print(f"❌ WebSocket error: {msg.data}") async def flush_archive(self): """Flush buffered trades to storage (implement your storage backend).""" if not self.trade_buffer: return trades_to_archive = list(self.trade_buffer) self.trade_buffer.clear() self.last_archive_time = datetime.utcnow() # Archive to file (replace with your data warehouse) filename = f"{self.archive_path}woox_trades_{datetime.utcnow().strftime('%Y%m%d_%H%M%S')}.json" # In production: implement your storage (S3, BigQuery, etc.) print(f"💾 Archived {len(trades_to_archive)} trades to {filename}") return trades_to_archive async def run(self, duration_seconds: int = 300): """Run archiver for specified duration.""" await self.connect() await self.subscribe_to_trades() start_time = datetime.utcnow() print(f"\n📊 Archiving WOO X trades for {duration_seconds} seconds...") print("-" * 50) try: async for msg in self.ws_connection: await self.process_message(msg) # Check duration if (datetime.utcnow() - start_time).seconds >= duration_seconds: await self.flush_archive() print(f"\n✅ Archiver complete. Total trades: {self.trade_count}") break except asyncio.TimeoutError: print("⏱️ Connection timeout — check network or HolySheep status") finally: if self.ws_connection: await self.ws_connection.close()

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EXECUTION

============================================================

if __name__ == "__main__": archiver = WOOXTradeArchiver( api_key=HOLYSHEEP_API_KEY, archive_path="./trade_archive/" ) # Run for 5 minutes (demo mode) asyncio.run(archiver.run(duration_seconds=300))

Step 4: Real-Time Liquidations and Funding Rate Alerts

#!/usr/bin/env python3
"""
WOO X Liquidation Alert System via HolySheep
Monitors large liquidations and funding rate changes for risk management.
"""

import requests
import time
from datetime import datetime, timedelta

HOLYSHEEP_API_KEY = "YOUR_HOLYSHEEP_API_KEY"
BASE_URL = "https://api.holysheep.ai/v1"

Threshold configuration

LIQUIDATION_THRESHOLD_USD = 50_000 # Alert on liquidations > $50K FUNDING_RATE_CHANGE_THRESHOLD = 0.001 # Alert on 0.1% funding rate changes def get_liquidations(symbol: str = "WOO-USDT", limit: int = 100): """Fetch recent liquidations from WOO X derivatives.""" endpoint = f"{BASE_URL}/tardis/woox/liquidations" response = requests.get( endpoint, params={ "symbol": symbol, "limit": limit, "min_value_usd": 1000 # Filter noise }, headers={ "Authorization": f"Bearer {HOLYSHEEP_API_KEY}", "X-Team-ID": "risk-management-team" }, timeout=5 ) if response.status_code == 200: return response.json().get("data", []) elif response.status_code == 401: print("🔑 Invalid API key — visit https://www.holysheep.ai/register") return [] else: print(f"⚠️ API error {response.status_code}") return [] def get_funding_rate_history(symbol: str = "WOO-USDT", hours: int = 24): """Fetch funding rate history for trend analysis.""" endpoint = f"{BASE_URL}/tardis/woox/funding/history" since = int((datetime.utcnow() - timedelta(hours=hours)).timestamp() * 1000) response = requests.get( endpoint, params={ "symbol": symbol, "since": since, "interval": "1h" }, headers={"Authorization": f"Bearer {HOLYSHEEP_API_KEY}"}, timeout=5 ) if response.status_code == 200: return response.json().get("data", []) return [] def analyze_market_stress(): """Analyze liquidation and funding data for risk signals.""" liquidations = get_liquidations() funding_history = get_funding_rate_history(hours=24) # Liquidation analysis total_liquidation_value = sum(l.get("value_usd", 0) for l in liquidations) large_liquidations = [l for l in liquidations if l.get("value_usd", 0) > LIQUIDATION_THRESHOLD_USD] # Funding rate analysis if len(funding_history) >= 2: latest_funding = float(funding_history[-1].get("rate", 0)) previous_funding = float(funding_history[-2].get("rate", 0)) funding_change = abs(latest_funding - previous_funding) funding_trending_up = latest_funding > previous_funding else: funding_change = 0 funding_trending_up = False # Risk assessment print(f"\n{'='*60}") print(f"📊 WOO X Risk Dashboard | {datetime.utcnow().strftime('%Y-%m-%d %H:%M:%S')} UTC") print(f"{'='*60}") print(f"\n💀 Liquidations (24h):") print(f" Total Value: ${total_liquidation_value:,.2f}") print(f" Large Events (>${LIQUIDATION_THRESHOLD_USD:,}): {len(large_liquidations)}") if large_liquidations: print(f" 🚨 ALERT — Large liquidations detected:") for liq in large_liquidations[:5]: # Show top 5 side = "LONG" if liq.get("side") == "buy" else "SHORT" print(f" {side} ${liq.get('value_usd', 0):,.2f} @ ${liq.get('price', 0)}") print(f"\n💰 Funding Rate Analysis:") print(f" Current Rate: {latest_funding * 100:.4f}% (8h)") print(f" Previous Rate: {previous_funding * 100:.4f}% (8h)") print(f" Change: {funding_change * 100:.4f}%") if funding_change > FUNDING_RATE_CHANGE_THRESHOLD: direction = "📈 INCREASING" if funding_trending_up else "📉 DECREASING" print(f" 🚨 ALERT — Significant funding rate change: {direction}") # Annualized funding annualized = latest_funding * 3 * 365 print(f" Annualized (est.): {annualized * 100:.2f}%") print(f"\n{'='*60}\n") if __name__ == "__main__": while True: analyze_market_stress() time.sleep(300) # Check every 5 minutes

Who It's For / Not For

✅ Perfect For ❌ Not Ideal For
Quant funds needing multi-exchange data via unified API key Retail traders using free data sources only
Arbitrage teams monitoring basis across WOO X, Binance, Bybit Single-exchange hobbyists with no need for cross-venue analysis
Risk management systems requiring low-latency liquidation alerts High-frequency trading (HFT) requiring sub-millisecond custom feeds
Compliance teams needing unified API key governance and audit trails Teams with existing Tardis direct integrations unwilling to migrate
Mid-size funds comparing HolySheep pricing vs. ¥7.3 alternatives Projects requiring only historical backfill data (use Tardis directly)

Pricing and ROI

HolySheep's pricing structure delivers substantial savings compared to Chinese domestic alternatives:

Metric HolySheep AI Typical Chinese Alternative Savings
Rate Structure $1 = ¥1 ¥7.3 per unit 85%+ reduction
Payment Methods WeChat, Alipay, USD wire WeChat/Alipay only More flexibility
Latency (p99) <50ms 80-150ms 40-60% faster
Free Credits Included on signup Rarely offered Immediate testing
API Key Model Unified multi-exchange Per-exchange separate Simpler governance
LLM Output (GPT-4.1) $8/M tokens ¥50-60/M tokens equivalent 80%+ savings
LLM Output (DeepSeek V3.2) $0.42/M tokens ¥3-4/M tokens equivalent 85%+ savings

ROI Calculation for a Medium Quant Fund:

Why Choose HolySheep

  1. Unified API Key Governance — Single API key accesses WOO X, Binance, Bybit, OKX, and Deribit. For enterprise teams, this eliminates the complexity of managing 5+ separate credentials with individual expiry cycles.
  2. Radical Pricing — At $1 = ¥1, HolySheep undercuts ¥7.3 alternatives by 85%+. For a fund processing $1B monthly in trading volume, this translates to $100K+ annual savings on data infrastructure.
  3. <50ms Latency — Measured p99 latency under 50ms for real-time feeds. Sufficient for most quantitative strategies, though HFT firms may need dedicated fiber.
  4. Multi-Payment Support — WeChat and Alipay for Chinese operations, plus USD wire for international funds. No currency conversion headaches.
  5. Integrated LLM Capabilities — Same HolySheep account provides access to GPT-4.1 ($8/Mtok), Claude Sonnet 4.5 ($15/Mtok), Gemini 2.5 Flash ($2.50/Mtok), and DeepSeek V3.2 ($0.42/Mtok). Build AI-powered analysis on the same platform.
  6. Free Credits on Registration — Test the full feature set before committing. No credit card required to start.

Comparison: HolySheep vs. Direct Tardis vs. Alternatives

Feature HolySheep + Tardis Direct Tardis.dev DIY Custom Relay
Setup Time 30 minutes 2-4 hours 1-2 weeks
API Complexity Unified REST/WebSocket Exchange-specific protocols Full customization
Multi-Exchange Single key, all exchanges Separate subscriptions Build yourself
Cost (5 exchanges) $800-1,500/mo $2,000-5,000/mo $5,000+/mo infra
Latency <50ms <30ms Variable
Maintenance Zero (managed) Low Full team responsibility
Support Direct team access Ticket system Internal only
Best For Mid-size quant funds Large institutions Tech giants only

Common Errors and Fixes

Error 1: "401 Unauthorized — Invalid API Key"

Symptom: All API requests return 401 Unauthorized even with a valid-looking key.

# ❌ WRONG — Using placeholder or expired key
HOLYSHEEP_API_KEY = "YOUR_HOLYSHEEP_API_KEY"  # Never commit this!

✅ CORRECT — Use environment variable or secure vault

import os HOLYSHEEP_API_KEY = os.environ.get("HOLYSHEEP_API_KEY") if not HOLYSHEEP_API_KEY: # Get free credits: https://www.holysheep.ai/register raise ValueError("HOLYSHEEP_API_KEY not set. Sign up at https://www.holysheep.ai/register")

Verify key format (should be 32+ characters)

assert len(HOLYSHEEP_API_KEY) >= 32, "API key appears invalid"

Test the connection

response = requests.get( "https://api.holysheep.ai/v1/health", headers={"Authorization": f"Bearer {HOLYSHEEP_API_KEY}"} ) if response.status_code == 401: print("🔑 Key rejected — regenerate at https://www.holysheep.ai/register")

Error 2: "ConnectionTimeout: Read timed out after 5s"

Symptom: WebSocket disconnects or REST requests timeout after 5 seconds.

# ❌ WRONG — Default timeout too short for cold starts
response = requests.get(url, timeout=1)  # Too aggressive!

❌ WRONG — No retry logic

response = requests.get(url)

✅ CORRECT — Configurable timeout + exponential backoff retry

import urllib3 urllib3.disable_warnings() # If using self-signed certs internally def fetch_with_retry(url: str, max_retries: int = 3) -> requests.Response: """Fetch with exponential backoff retry.""" session = requests.Session() for attempt in range(max_retries): try: # HolySheep p99 latency: <50ms # Set timeout slightly higher for network variance response = session.get( url, headers={"Authorization": f"Bearer {HOLYSHEEP_API_KEY}"}, timeout=10, # 10s timeout (accommodates <50ms typical latency) verify=True ) if response.status_code in (200, 201): return response elif response.status_code == 429: wait = 2 ** attempt # 1, 2, 4 seconds print(f"⏳ Rate limited — waiting {wait}s before retry...") time.sleep(wait) else: response.raise_for_status() except requests.exceptions.Timeout: wait = 2 ** attempt print(f"⏱️ Timeout on attempt {attempt + 1} — retrying in {wait}s...") time.sleep(wait) except requests.exceptions.ConnectionError as e: print(f"🔌 Connection error: {e}") if attempt == max_retries - 1: raise raise RuntimeError(f"Failed after {max_retries} attempts")

Usage

data = fetch_with_retry("https://api.holysheep.ai/v1/tardis/woox/funding")

Error 3: "RateLimitExceeded — Slow down requests"

Symptom: API returns 429 Too Many Requests after ~100 requests/minute.

# ❌ WRONG — No rate limiting, hammering the API
while True:
    data = fetch_all_data()  # Will hit 429 quickly!

✅ CORRECT — Token bucket rate limiting

import time from threading import Lock class RateLimiter: """Token bucket rate limiter for HolySheep API.""" def __init__(self, requests_per_minute: int = 100): self.rpm = requests_per_minute self.tokens = requests_per_minute self.last_refill = time.time() self.lock = Lock() def acquire(self): """Block until a token is available.""" with self.lock: now = time.time