[Passed] Liquidity operations compensation

I have requested that others take over the liquidity operations roles I am currently filling. In that original post I stated:

It is time to do that, and that is the purpose of this motion.

One of the reasons no one has stepped forward to fill the liquidity operations roles I am currently filling is that the cost incurred to shareholders for these services is not transparent (compensation is mixed in with compensation for my Architect role). This in some ways makes it appear that the services are free (but they aren’t). A replacement needs to charge a specific fee, which right now would inevitably be more than the specific fee I am charging (none). So, the proper remedy to this is to charge a specific fee. My goal is to make my fee uncompetitive so that shareholders select someone else to fill these roles.

Motion RIPEMD160 hash: f651bef0d942fe47cbc0d47bd3c38ce0fff7f902

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Jordan Lee will begin receiving compensation specifically for managing tier 4 liquidity beginning November 1. For November, the compensation will be 0.5% of buy side funds in tier 4 on the first of the month. Compensation will increment 0.5% each month. For example. 1% of buy side funds in tier 4 will be paid to Jordan Lee on December 1, then 1.5% of the same on January 1, and so on. This will continue until the funds are consumed or until a shareholder motion instructs Jordan Lee to cease managing tier 4 liquidity. If this motion is passed and replacements are found to manage tier 4 liquidity before November 1, (replacements need to be selected via motion or a hashed custodial grant and include instructions for Jordan Lee to transfer or burn tier 4 funds), then Jordan Lee will receive no compensation related to liquidity operations.

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Verify. Use everything between and including the <motionhash></motionhash> tags.

If this motion is not passed and replacements are not found, all tier 4 funds will be converted to NuBits and burned between October 28 and 31. This will leave the network without any tier 4 liquidity, unless alternative arrangements are made between now and then.

I would prefer that discussion in this thread be restricted to the proposed motion. Please discuss filling the liquidity operations roles in this thread.

Finally, I wish to emphasize that the three liquidity operation roles defined in the link above are essential to the security of the peg, and it would irresponsible of shareholders to permit them to go unfilled.

4 Likes

I have no objections against this motion.
At the same time, we have not seen yet any motion proposals in which shareholders propose their services as multi-sig signers for Tier4~6 though it seems that there are already quite a few individuals potentially as shown here.
Starting the voting process for OP’s motion would encourage shareholders to propose officially their multisig services in formal motions, I believe.

1 Like

This motion has been hashed:

f651bef0d942fe47cbc0d47bd3c38ce0fff7f902

It is my hope that voting on this will help bring focus and urgency to the effort to find replacements for the roles discussed in the OP.

f651bef0d942fe47cbc0d47bd3c38ce0fff7f902 verified and voted.

Supporting this, I think it is an important step into further decentralisation of liquidity operations.

1 Like

@CoinGame this needs a pin.

f651bef0d942fe47cbc0d47bd3c38ce0fff7f902 voted.

@assistant motion vote f651bef0d942fe47cbc0d47bd3c38ce0fff7f902

Hi @cryptog

Here are the details for the Motion Vote on f651bef0d942fe47cbc0d47bd3c38ce0fff7f902:


##f651bef0d942fe47cbc0d47bd3c38ce0fff7f902
Blocks: 3302 (33.020000%)
Share Days: 1215306158 (35.946137%)


@assistant motion vote f651bef0d942fe47cbc0d47bd3c38ce0fff7f902

Hi @cryptog

Here are the details for the Motion Vote on f651bef0d942fe47cbc0d47bd3c38ce0fff7f902:


##f651bef0d942fe47cbc0d47bd3c38ce0fff7f902
Blocks: 4637 (46.370000%)
Share Days: 1749642679 (50.474176%)


@assistant motion vote f651bef0d942fe47cbc0d47bd3c38ce0fff7f902

Hi @JordanLee

Here are the details for the Motion Vote on f651bef0d942fe47cbc0d47bd3c38ce0fff7f902:


##f651bef0d942fe47cbc0d47bd3c38ce0fff7f902
Blocks: 5321 (53.210000%)
Share Days: 1987026258 (57.182908%)


This has passed. I’m pleased as this will facilitate the decentralisation of liquidity operations while simultaneously ensuring their continuity.

1 Like