[Passed] First Chinese NuBit grant for liquidity operations


#1

Custodial Grant Address: YhSEw9AGBJ3KtqLrxeQrcsTVk5u57pA88m
Custodial Grant Amount: 2000000 (2 million)

With a successful protocol change allowing supporting Chinese NuBits having been completed hours ago, the network is ready for the next step: granting liquidity operations Chinese NuBits so we can begin to offer them in liquidity operations. After that, the next step will be marketing Chinese NuBits, which is really out of my domain as Chief of Liquidity Operations, but will likely consist of recruiting exchanges to list Chinese NuBits. We could incentivize them by promising certain quantities of liquidity or even outright rewards for listings.

Anyone up for leading the Chinese NuBit marketing effort? Of course you can be compensated for it in whatever way shareholders support. Just make your proposal.


#2

This has passed and the era of Chinese NuBits has begun. There are now 2 million in existence, with zero circulating. Chinese NuBits will need to pass through alpha and beta stages just like other software dependent products. In my own mind, when we have three or more exchanges supporting them I will consider them to be out of beta.

As I have pointed out before, there is a need to market Chinese NuBits that is beyond the scope of my role as Chief of Liquidity Operations. The most important marketing activities in the immediate future will be attempts to get Chinese NuBits listed on exchanges to make them available to the public, and to give us a platform to support the Chinese NuBit peg. It is within my discretion to make liquidity providing deals with exchanges, such as “if you list Chinese NuBits, we will provide 100,000 Chinese NuBits of liquidity at 1% spread, balanced between buy and sell walls.” The actual terms of the deal will depend on the specific exchange involved. Some are worth more than others to us.

@henry, what can NuLagoon do to help us bring Chinese NuBits to the public? Can you list them?

Marketing of Chinese NuBits should be a priority for us. With BitCNY being several times as popular as BitUSD, we have reason to think there is more potential demand for Chinese NuBits than for US NuBits. We only need to make Chinese NuBits about one third as popular as US NuBits to make NSR buybacks begin, all other things being equal. That is a modest and achievable goal that should be pursued as a very high priority.

Is anyone interested in taking the lead on marketing Chinese NuBits for us? I will work closely with anyone qualified and properly selected by shareholders for this role (either general marketing or marketing restricted to Chinese NuBits) to create deals for listings by offering guaranteed levels of liquidity at 1% spread. With @tomjoad gone and many forum participants frustrated by their marginalization, there is an opportunity to become involved in a meaningful and productive way.


#3

Yes. NuLagoon can list it. We are glad to help. The cost is vary from $3000 to $20000 depend on how to do it.


#4

Just had a chat with Matthew, the developer of NuDroid about future developments. We discussed creating just a clone of Nudroid just for CH-NBT as an cost effec tive solution. It would be in the NBT 3k-5k range or higher depending on the requirements. This could be delivered instead of release 2 of NuDroid (see contract). I believe such an App would provide more value at this stage than the ability to receive other coins in a NBT wallet (as per R2 requirements NuDroid). Timelines would be to start work in February or so, which we possibly could lock in if desired.

I believe the availability of an App to hold coins off-exchange is an important feature for a stablecoin for those considering using it to store value. We will need to negotiate a listing with Shapeshift.io to make full use of the NuDroid features though.

@phoenix, would you be interested in exploring this further with the shareholders?