[Nu Lagoon] The Nu Lagoon is supportting Bitcoin.co.id now | NAV: 1.062 @ 14 May

cryptog · March 17, 2015, 7:16am

I still do not quite understand the definition of Custodian Fee wait to be granted. Can you clarify a bit please?

EDIT: Typo

henry · March 17, 2015, 9:20am

I think the following example can demonstrate the definition of Custodian Fee wait to be granted:

henry · March 19, 2015, 11:36am

Hi Nu community members,

The Nu Lagoon has only received 4000 NBT fund deposits. I would like to encourage shareholders give it a try with a small size of fund, say 1000 NBT, as your fund will be very important support for Nubits. Fund deposit in next 22 hours will be included in the liquidity operation started at 20 Mar.

Thank you.

desrever · March 19, 2015, 2:04pm

It is ok to run this first round with a small amount of funds. It is the first time we see such a concept implemented in practice and I guess people are now looking at this experiment to see how it goes before committing too much funds to it. We should not be discouraged by small amounts at this point

henry · March 20, 2015, 11:46am

The Nu Lagoon Pool A began operation with total asset of 9082.464, outstanding shares of 9082.464, and NAV of 1 at 20th Mar.

Reports of 2015-03-20 was uploaded to https://github.com/henrynu/NuLagoon

Now pool A is supporting BTC/NBT pair of Poloniex exchange. Liquidity info is reported by address: B5viA2YWcoLBvT8TWJywasQyAT9xkwhmWc

henry · March 20, 2015, 2:40pm

Fund Deposit & Withdraw Guide for the Nu Lagoon

To deposit fund or submit a withdraw order to the Nu Lagoon, you need to use the coin control feature. Here is a guide for anyone not familiar with it.

Step1: Enable Coin Control

For Nubits:

For Bitcoin:

Step2: Select Inputs

For Nubits and Bitcoin:

Step3: Custom change address & send transaction

For Nubits and Bitcoin:

Trouble-shooting: Strange address recovery

If a strange address is used as the first input address in your deposit transaction somehow, don’t worry. You can recover that strange address back to your control by dump and import its private key in the debug window console.

SkullandHeadphones · March 20, 2015, 4:56pm

Wishing all the NuLagooners the very best!

seki · March 20, 2015, 10:55pm

@henry,
btc address 1BEnysbA89Dayx4W4r4bbjYTMyt9DPhNns is not valid!
i have sent 4 btc from 12ckM9RSp5TpcbRgwPiGueKE7TJnvxevnD
https://blockchain.info/el/address/12ckM9RSp5TpcbRgwPiGueKE7TJnvxevnD
by using coin control. i don’t know where the other addresses come from!

seki · March 21, 2015, 7:25am

it turns out that 1BE… was a hidden address of mine, i just import its private key and now it appears in my wallet.
this is very strange bahaviour and just report it here if someone else have this issue.
thanks both Henry and Sigmike for their resolve!

henry · March 21, 2015, 2:49pm

Update on Fund Deposit & Withdraw Guide for the Nu Lagoon:

List mode is recommended for selecting inputs in coin control dialog.
Add trouble-shooting of strange address recovery.
[Nu Lagoon] The Nu Lagoon is supportting Bitcoin.co.id now | NAV: 1.062 @ 14 May

Update on the operation of pool A:

The accounting day will change to every Thursday. It’s just because that I found Friday is not a good time for me to do the COB process, especially, there is a lot of manual work needed now. To set the accounting day to every Thursday will be more comfortable for me to finish the COB process in time. Sorry for the change.
The next accounting day will be 26th Mar. The custodian fee will be calculated for 6 days in this round.

henry · March 26, 2015, 12:57pm

The Nu Lagoon 's COB process of 26th Mar 2015 is completed. NAV is 1.003, No deposit and withdraw TX. Accounting report is released at:

https://github.com/henrynu/NuLagoon/blob/master/Reports%20of%20Pool%20A/2015-03-26/NetAssetValue.csv

There is some slight adjustment and fix on NAV calculation formulas. Details can be found here:

github.com

henrynu/NuLagoon/blob/master/Terms of Pool A.md



**Terms of Pool A:**

**Participants:**

1. Pool A will accept deposit in BTC and NBT. The BTC deposit address is: 1PwUThmFLvUHp4WYoeDL15GggrHkD3Capw, and NBT deposit address is: BGNbLajr7tSD5LEqYmG2hztzciPhmjf4eX. Deposit transactions is public for anyone on the blockchains..
    
2. The send-from address of every deposit transaction will be the participant's account address, which is also the address to receive fund withdraw in future. If multiple inputs are used to deposit funds, the address in the first input will be the participant's account address. 

3. Deposit less than 1000NBT or 4BTC will be rejected and will be returned to the account address (the transaction fee will be subtracted).

4. To submit a full-size fund withdraw order, participant send 0.0001BTC or 0.01NBT from the account address to the pool’s deposit address. To submit a half-size fund withdraw order, participant send 0.0002BTC or 0.02NBT from the account address to the pool’s deposit address.
    
5. To submit a pool share conversion order, participant send 0.001BTC or 0.1NBT from the account address to the deposit address of the pool which participant would like to convert to. The manager will convert shares of all the pools into shares of destination pool at the accounting day. 

6. The calculation of conversion will be: The number of shares of destination pool = the number of shares of source pool * NAV of source pool / NAV of destination pool.

7. Every Monday and every Thursday during the operation of pool A is the accounting day. 14:00AM GMT will be the COB (close of business) time every accounting day. Deposit transactions and withdraw orders sent before COB time every accounting day will be effective that day. Transactions and orders sent afterward will be effective next accounting day.

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seki · March 30, 2015, 2:47pm

Great. lets sent some more to support Bitcoin.co.id

SkullandHeadphones · March 30, 2015, 2:58pm

That would be amazing, if NuLagoon can step in and help not only Bitcoin.co.id by the April 3rd deadline but every-single time the Nu network needs liquidity to maintain the peg.

NuLagooners Guardians of the Peg!

henry · March 30, 2015, 4:10pm

The Nu Lagoon will step out when liquidity is needed to maintain the peg. We will be doing some preparation and test of running nubot on Bitcoin.co.id. The advantage of the Nu Lagoon is that we don’t need an extra proposal for shareholders’ approval to support another exchange.

Meanwhile, We would also like to encourage @learnmore and the exchange itself could also join the custodian team, because that is good for the network.

henry · April 1, 2015, 3:02pm

We are very happy to announce that the Nu Lagoon’s domain name is now available.

[nulagoon.com][1]

The design and the content of the website is simple and temporary now. We will put efforts on building the site in next a couple of weeks.

Thank the nucommunity and nulagooners for all your support.
[1]: http://nulagoon.com

seki · April 1, 2015, 9:05pm

good job henry!

desrever · April 1, 2015, 9:28pm

excellent! Can’t wait to see also some live data ;D !

henry · April 2, 2015, 11:41am

Accounting report of 02th Apr is published. NAV: 1.0157

https://github.com/henrynu/NuLagoon/tree/master/Reports%20of%20Pool%20A/2015-04-02

cryptog · April 3, 2015, 9:11am

2015-04-02 1.0157 14159.886.

The total assets on this date are 14k NBT.
Does it correspond to the combined buy side + sell side liquidities offered by NuLagoon?

henry · April 7, 2015, 4:03am

Yes. It should correspond to the combined buy side + sell side liquidities.
After Nu Lagoon support poloniex and bitcoinid at the same time, The liquidityinfos on both exchanges will be aggregated and report by the same custodian address.