Liquidity Operations initiates the NSR/BTC market at Cryptopia


#1

NuShares are traded only at Poloniex at this moment. A priority is to expand its market so we’re not as reliant on one exchange. Liquidity Operations will begin placing walls of NSR and BTC at Cryptopia to initiate a market there.

The NuShare hit 47 satoshi today with 424 BTC volume.

Market Plan

  • $10,000 total.
  • $1,000 per satoshi.
  • 2-satoshi spacing between walls.
  • Poloniex as reference.
  • Orders updated once a day, six days a week.

An important principle is that we aren’t trying to set the price, we are just following the market.

  • Buy support at 15. → Place buy orders at 14, 13, 12, 11, 10.
  • Sell pressure at 16. → Place sell orders at 17, 18, 19, 20, 21.
  • Buy orders consumed at 14, 13. → Move highest sell orders down to 16, 15.
  • Sell orders consumed at 17, 18. → Move lowest buy orders up to 15, 16.

Poloniex disable NSR? (Status: trading enabled, deposits/withdrawals re-enabled, delisting planned May 2, Cryptopia an alternative)
#2

@jooize and I worked this out together. I’m sure the details will be modified as we learn, but the model defined by @jooize in the OP is a good start.

NSR liquidity is probably the most important factor in peg strength. As with all crypto assets, liquidity, in and of itself, gives an asset quite a bit of value. By facilitating a second market in NSR, we are supporting the currency pegs as well as enhancing NSR value directly.

It is worth doing. While it is possible to sustain a loss as a market maker, it is unlikely. We should be able to make a tidy profit from the spread, so this activity is self-funding.


#3

Liquidity for NBT, is as Hashrate for BTC. So we hope the LP activity to be profitable as BTC’s minting to sustain our ecosystem because they make Nu and BTC’s scarcity respectively.


#4

:clap:


#5

2017–04–14

Walls are placed.

https://www.cryptopia.co.nz/Exchange/?market=NSR_BTC