[ANN] NuLagoon Tube resumed operation today


#1

Dear Nu Community:

We are delighted to announce that NuLagoon Tube just resumed the operation again. Please check: nulagoon.com

At the moment, the buy/sell wall haven’t balanced yet. But we expect liquidity operators of NuShareholders will balance it soon. The spread is set at 0.8% and trading fee is set at 0.2%.

The address pair registration and trading process are exact the same as before.

Enjoy it!.


At the same time, we would like to clarify the process of how to return NuLagoon Pools funds.

In order to void the unwanted impact of the market, the funds won’t be return in the manner of all at once. Also, the return of NBT and BTC could be arranged in the seperated orders.

All the Pool Investors, please send the withdraw orders to NuLagoon Pools, which is 0.01 for NBT and 0.0001 for BTC. The fund will be returned in the order according to the time we received the withdraw orders. Because the time of the fund return could be different, the NAV of the same Pools can be slightly different.

What we will do is basicaly to withdraw some fund from NuLagoon Tube buy/sell walls and return them to Pool investors every period of time untill all the Pool funds are withdrawn and returned.

One investor once asked us, “Is it possible to let BTC investors withdraw NBT?” Our answer is “Yes.” And this may have chance to make your fund return happen sooner. To do this you have to contact us directly, indicate your preference and prove the ownership of the address. We also encourage pool investors contact me to ask any question or raise any concerns. I can be contact at henry on the forum “discuss.nubits.com” or Bitmessage: BM-2cXaLWjzw3PZ7QjYLmDbdDP5d3UvxKFz8T

Thanks
Henry


#2

I have just asked the team to buy 4,000 US-NBT from Tube to facilitate withdrawal of BTC from NuLagoon pools. As we produce additional buy support and reserves going forward, we will continue to devote a significant portion of it to buying US-NBT from NuLagoon.

We will make everyone whole, but it will take a little more time.


#3

In the week past, about 20,000 NBT was withdrawn from Tube and returned to NuLagoon Pool depositors.

Depositors who haven’t got your funds back yet please be patient, and please keep touch with us. Thanks.

Henry


#4

In the past week, about 12,000 NBT was withdrawn from Tube and returned to NuLagoon Pool depositors. Thanks.

Henry


#5

Does that mean withdrawing NBT funds was stopped until recently?
If so, why?

I understand that withdrawing BTC was impossible, because you had none. I don’t understand why that should have affected NBT withdrawals.


#6

In the past week, about 14,000 NBT was withdrawn from Tube and returned to NuLagoon Pool depositors. Thanks.

Henry


#7

So by now: 4,000+20,000+12,000+14,000 = 50,000 NBT has been withdrawn.

How much is still outstanding?


#8

Outstanding: 11427 USNBT.

All the work to return funds to NuLagoon Pools investors will be finished soon. We have been defending the reputation of NuLagoon with the highest standard.

All the funds are returned in the form of NBT these weeks, which could be one of the sources of sell pressure in the market recently. However, this will end soon.

Thanks.

Henry


#9

Just in case you missed the question. Can you please explain?


#10

Sorry for the late response.

I am just not 100% sure what you are asking. The NBT funds withdrawal was not stopped, but it is under pace control to avoid unwanted market impact.

Thanks.


#11

Thank you for getting back to me.

I had a look at http://nulagoon.com and the “Blockchain TXs” that are listed there.
Beteween 2016-05-30 and 2016-09-21 there was no single withdrawal.
2016-09-21 was the day when you announced a resumed operation in this very thread.

There was one set of blockchain transactions (1 NBT, 1 BTC) at 2016-06-12 which failed. If I don’t misunderstand those transactions they were an attempt to register an address pair.

Yet you are trying to tell that nulagoon including withdrawal wasn’t stopped?

Shall I really believe that not a single nulagoon customer tried to withdraw funds?
Or did they try and failed?
I was wondering about that already, but need to do it again: nobody complained about nulagoon here in this forum, although you refer to this forum as a way to get in contact with you?

Or should I draw the conclusion that JordanLeePhoenix was your only/main customer and knew that it’d make no sense to withdraw the NBT, because he wanted to restore the peg first (instead of thinking about revenue…)? He had time, because he knew it was safe with him being in control of the network so soon.
If JordanLeePhoenix was your only/main customer the question who crashed the peg has an answer.
How convenient for him to get a lot of money for parking nbt and btc at nulagoon in the months before!

You, @henry, said once that you are not JordanLee. I’m not sure whether I can believe that.
Both you and your customers have been all too silent in the recent months where so much was uncertain and both you and your customers had money at stake.
I mean, you developed nulagoon and then all was stopped. And your customers had the money locked or didn’t even try to withdraw it?

That doesn’t add up, but it tells something about you and your customers

And here it is again: the doom and gloom.
But seriously: does nobody wonder about that?

I’m not going to provide an updated attack scenario here. All I’m saying that nulagoon was a great tool for the attack on the peg.


#12

The total asset of NuLagoon was about 77,886 NBT at the time Tube suspended operation.

About 20,000 NBT was returned to investors in the period of operation suspension.
About 45,000 NBT was returned after Tube operation resumed.
About 12,000 NBT is waiting to be returned.

We do not check or even care investors’ identities. Once you have proven you own the address that deposited the funds, we will do our best to serve your orders.

However, that doesn’t mean I believe most of the NuLagoon investors are actually one person. I guess many users in this forum have been served by NuLagoon. If you do more homework, I remember there are a developer publicly mentioned he or she was a NuLagoon investor, and also another investor publicly ask for BTC withdrawal.

Anyway, to find out investors’ identities is really not our business. it is truly understandable if they prefer silence.

Thanks.
Henry


#13

Why was withdrawing NBT suspended (you had NBT)?
I understand that withdrawal of BTC was suspended due to lack of funds.


#14

It was not suspended. More than 20k was withdrawn in the meantime.


#15

Do you say that nobody wanted to withdraw funds in the period from 2016-05-30 to 2016-09-21?

Whatabout that:

?

Seriously?
Then again, Jordan knew that it made no sense to withdraw at that time…


#16

Have you read my previous post? About 20k was withdrawn in the period when Tube suspended operation. The transaction was between NuLagoon Pools and Pool investors, doesn’t show up in the Tube.


#17

It seems I misunderstood parts of nulagoon - http://nulagoon.com/lqpools.html
So if people want to withdraw, they need to do so from pools, right.

Pool A NBT deposit/withdrawal address:


Pool A BTC deposit/withdrawal address:
http://nuexplorer.ddns.net/address/BGNbLajr7tSD5LEqYmG2hztzciPhmjf4eX/1/newest

Pool C NBT deposit/withdrawal address:


Pool C BTC deposit/withdrawal address:
http://nuexplorer.ddns.net/address/BAFCWvEdNWrvMKf8JNA5SFYMR8Zvy7f6oH/1/newest

Pool D NBT deposit/withdrawal address:


Pool D BTC deposit/withdrawal address:
http://nuexplorer.ddns.net/address/BBiHdUVB8Sndf1tCNfBNpRZx53pK7Go8JK/1/newest

I find one BTC withdrawal (attempt) from pool A:

no one from pool C,
one BTC withdrawal (attempt) from pool D

one NBT withdrawal from pool A:
http://nuexplorer.ddns.net/transactions/66193575c8614945160e629fc02cb63c3f408ca555fc818102231f6ff37dd955

and no successful withdrawals I could find for pools C and D.

Did I overlook something?
Was there really nobody pulling NBT from the pools?


#18

They can send withdrawal orders or contact me to prove the address ownership.

The Pool deposit addresses is only for deposit, not the addresses we sent withdrawal fund out.


#19

But these are the addresses, where pool participants send tiny amounts of NBT (0.01) or BTC (0.0001) to withdraw funds (or 0.1 NBT / 0.001.BTC to convert between pools), right?


#20

Yes.