Demand for multi signature Nu Lagoon

[muchogusto]

I like the method of operating of Nu Lagoon because it is very easy and most money is keeping safe off exchange. Having monies in control of single pseudonymous person makes me nervous still.

I promise to enter 25,000 NBT in a multi signature Nu Lagoon Pool B if it is made with any of these following as second and third signers:

@JordanLee
@creon
@Cybnate
@tomjoad
@Ben
@pennybreaker
@CoinGame
@desrever
@woolly_sammoth
mhps
cryptog
Sentinelrv
jmiller
KTm

@henry how much can you pay second and third signers? I know from private messages that @henry wants to make Pool B. The problem stopping it is no good signing people volunteering.

Let’s take liquidity pools to the next level in size and safeness!

[willy]

Hey muchogusto,

if security is what you look for, have you heard about the trustless liquidity pool “NuPool”?

[NuPool] Announcing: Trustless liquidity pool operation “NuPool” on Bittrex.com has started

Announcing: Trustless liquidity pool operation "NuPool" on Bittrex.com I. Introduction In a nutshell: You run a program that places NBT and BTC orders on an exchange at 1 USD 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. Welcome to NuPool, the first trustless liquidity pool operation run by the community members @woolly_sammoth, @creon and @willy. It will be formally run by @woolly_sammoth. Th…

Willy

[muchogusto]

I believe a multisignature Nu Lagoon would be safer than NuPool because most funds are keeping off exchange. It would also be easier non-technical people like me.

[tomjoad]

If the only roadblock to 25,000 NBT in a Pool B is a lack of good signers, I’m willing to look into being a multisig signer.

[creon]

I can perfectly understand this. Honestly I would ideally want to see a sum like this in an independent LPC operation, but again the technical requirements are a barrier.

While I don’t know if I as another pool operator would be the ideal candidate to perform this task, I just would like to understand to responsibility for now: The signers are basically “only” required to be available at the time when @henry attempts to make a movement from tier 3 to tier 2. It is then in the obligation of the signers to verify that the corresponding transaction satisfies the rules and to provide or deny their signature accordingly. Is this correct?

[mhps]

mhps

Thanks for the trust. I would like to know when the signer is needed? Is @creon right above?

[cryptog]

I am honored to be in the list of your potential trustees.
I would be willing to become a signer if necessary, after reviewing the conditions for doing so.

[muchogusto]

@henry have you negotiated with @mhps, @creon, @tomjoad or @cryptog to move along? Are we closer to pool B running?

Do you know the answer to the questions asked by @creon and @mhps?

[henry]

We are planing to write a response to this thread. however, don’t got time to do so yet.

In short, we never give up the goal of setting up pool B, but building infrastructures and managing pool A manually already consumed most of our time now. We expect the situation will improved a lot when we develop and deploy our pool management system and the website of nulagoon.com

Thank you

[JordanLee]

The network would see great benefit from someone moving forward with providing a multisig pool. It looks like @tomjoad, @cryptog, @mhps and @creon all have interest in signing. We need both TLLP and this type of pool for liquidity. This type of pool keeps most funds safe off exchange, and so it can offer much cheaper liquidity. So, TTLP will provide the bulk of immediately available tier 1 liquidity while pools like a multisig NuLagoon can provide deep tier 3 liquidity for a much lower price.

@henry are you in a position to move forward with multisig support soon?

Regardless of @henry’s answer, there is quite of benefit in decentralizing liquidity by duplicating this type of pool.

[henry]

Thank @JordanLee for outlining the position of NuLagoon in the future of Nu liquidity operation. We will carefully exam and consider the suggestions, and will put more effort on the direction of multisig pool from now on.

Because the main purpose of the creation and operation of the Nu Lagoon is to contribute to Nubits’ success, we have no doubt to clarify here that we are happy to see that someone duplicate the design of the way Nu Lagoon operated.

Thank you.

[cryptog]

Any progress?