As discussed in Nbt on cryptsy here is my proposal for a liquidity pool on Cryptsy. To stay in line with the water related theme names for liquidity pools I thought I’d call the pool Nustream. The pool will start out as a single custodian liquidity pool wherein the operator @Dhume will provide all of the liquidity with his own funds. Targeted liquidity for the first 30 days is going to be 15000 split into 7500 on the buy side and 7500 on the sell side. The pair being supported will be the NBT/BTC pair. The fees for this liquidity provision paid for by shareholders will be 10% for 30 days which is also the running time of the pool. Operator @Dhume will make a conscience effort to manually balance buy/sell side walls in case they get out of balance due to buy/sell pressure.
Fees will amount to 10% x 15000 = 1500 for 30 days. This mean custodial fee requested will be 1500 Nubit for a liquidity provision of 15000 for 30 days. Custodial fee is to be paid at the end of the operating period, after services have been provided.
As Nubot/pybot are not yet ready to be deployed on Cryptsy yet pool operations will begin when @Willy, @woolly_sammoth and @desrever have had the opportunity to write the necessary wrapper needed for the bot to be functional on Cryptsy. In the meantime I will setup the Cryptsy account and accredit it with the necessary funds. Making sure operations can start the moment the bot is ready.
Update: Due to the efforts by the amazing bot tech team stated above, the bot should be ready for deployment on Cryptsy. I will run the bot tomorrow and if all is well operations can start immediately. If the bot runs well tomorrow I will update this topic to a motion to be voted for. First day of operation will be when this motion is passed.
After roughly 3 weeks a new draft proposal combined with accounting data from previous operation will be posted on the forum and request for payment will be made. If there is a strong desire for changes to for example pool size, or internal operations they can be posted in the upcoming topic.
After the first operating period aka 30 days it is my goal to change the pool to a TLLP comparable to Nupool and similar pools where participants can earn up to 9% interest a month. If more liquidity is offered then the pool size participants will have to compete with each other in which the participants satisfied with the lowest interest get priority. If shareholders agree with this direction I will register the domain: nustream.org when this motions passes and get a website live hopefully before the second operating period is over and start marketing the pool at various crypto related forums.
This makes for the following timeline:
-First operating period (30 days) it will be a single custodian pool as described above
-Second operating period (30 days after the first period) it will be a TLLP without website or marketing
-Third operating period a website (nustream.org) will be live comparable to nupool website and I will market the pool on various crypto related forums.
Disclaimer: Above is all under the assumptions I can get the technicalities working, but support so far deems me to believe there is no reason to assume there are insurmountable obstacles to adhere to above timeline.
[reserved for the custodial hash motion]