Incentive program for NSR market makers

Liquidity
#1

Liquidity Operations will commence an incentive program for NuShare market makers immediately. The high NuBit to NuShare liquidity ratio discussed here is the main reason NuBit price support is currently low. We can improve the ratio, hopefully dramatically, by incentivizing market making in NuShares. It is hoped this will bootstrap NSR liquidity and improve the NBT to NSR liquidity ratio. That in turn should improve NuBit price support, which should in turn increase enthusiasm and interest in NuShares, creating a virtuous and constructive cycle resulting in peg restoration and NSR appreciation.

NSR Market Maker Incentive is 2% of the value of all your NSR trades where liquidity was provided by limit order, and will be paid by Liquidity Operations to market makers.

What are market makers expected to do?

  • Contact @jooize or myself to get approved as a market maker. We will try to make it easy. A relationship is needed to mitigate the risk of fraudulent claims. Trusted community members will be immediately approved. Newcomers may be asked to briefly answer some simple questions.

  • Once approved by Liquidity Operations, market makers should commence market making at one or more NSR exchanges. This means placing buy and sell orders at prices of their choosing, either manually or using automation. They may, for instance, choose to place a buy order for NSR at 3 satoshis and sell orders at 4 satoshis.

  • Submit trading records, a list of the trades you made that were eligible for incentives, and the total value of the trades to Liquidity Operations.

  • You will receive payment in NSR from Liquidity Operations after your claim is reviewed.

Please contact @jooize or @Phoenix on this forum, on our chat, by Bitmessage at BM-2cU99iZPcZ4AJUCzU2G797SNc9aRkLkyL9 or email at admin@nubits.com to get approved as a market maker and start making extra money from trading NSR!

1 Like
#2

This is an interesting idea, and innovative way to encourage NSR trading volume.

However, is it not very easy to game by someone having 2 accounts, trading with themselves over & over & pocketing the 2% with the only cost being trading fees?

Is there any way to prevent gaming the concept in this way? Would it be easy to spot?

1 Like
#3

This new stuff from the NuShares team, sounds like Ponzi to me!
You banned me at telegram let me see how you ban me here! Idiots.
If you like don’t return people’s money!

#4

There are variety of ways to mitigate risks of fraud. One is to have trusted community members do it. There are also a number of questions or actions that could be asked of the market makers to check if trading has been fraudulent. We can’t eliminate the risk of fraud, but we can responsibly mitigate it, I believe.

2 Likes
#5

Incentive program for NSR market makers. Apply and earn 2% of traded value in NSR