[Passed] Motion to create the first liquidity pool: The Nu Lagoon

[cryptog]

The withdraw order will be processed and take effect at next accounting day.

So if I decide to withdraw the next day of the accounting day, I will need to wait almost 1 month before getting my reward (my portion of the custodian fee)?

If we are going to set a ceiling for fee grant limit a month, what is a proper number in your idea?

If the pool gets 1m NBT, Nu will have to pay 100k NBT as custodian fee but perhaps shareholders are not sure if the network can sustain such a payment.
This is why maybe we should put a ceiling?

[henry]

no motion is needed to start the project

I need shareholders agree with the fee rate and formula will be used in calculation of the fee, so they will pass the fee grant

I will need to wait almost 1 month

In pool A, accounting day is every Friday

.

[cryptog]

In pool A, accounting day is every Friday

Ah ok. Tks.

I need now just a clarification on the ceiling before voting yes.

[zoro]

only pool’s participants needs to agree with the pool’s terms. shareholders will not necessarally be the participants!

[henry]

clarification on the ceiling

I don’t think the ceiling is necessary in short term, because I don’t know what is the proper number to set. Ceiling is useful if you are worried about attracting too much money in short term, say 10 days. I really don’t think that would be the case in the early stage of the Nu Lagoon.

[henry]

shareholders will not necessarally be the participants!

Yes. But I need shareholders to promise to pass the fee grant which is calculated by the terms in this motion.

[cryptog]

I agree. If it attracts too much money, shareholders could pass quickly a motion to put a ceiling.
But still, would it be complicated for you to put a ceiling like in the trustless liquidityy pool proposal ?

Trust-less liquidity pool

The payout is calculated at each validation point, and interest is payed up to a maximum cap, controlled by a soft thresholding function (inverse logistic sigmoid). This ensures that the maximum liquidity by an operation, and therefore the fee for the shareholders, is not unbounded.

[henry]

would it be complicated

Yes. If there is a ceiling, the formula for NAV calculation will be more complicated.

[cryptog]

@assistant motion vote b5e709a59226b979e4cb59e6d3a3e06b506e3761

[assistant]

Hi @cryptog

Here are the details for the Motion Vote on b5e709a59226b979e4cb59e6d3a3e06b506e3761:

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##[b5e709a59226b979e4cb59e6d3a3e06b506e3761][1]
[1]: https://discuss.nubits.com/t/voting-motion-to-create-the-first-liquidity-pool-the-nu-lagoon

###[voting] Motion to create the first liquidity pool: The Nu Lagoon
Blocks: 4737 (47.370000%)
Share Days: 2331184000 (58.278660%)

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[cryptog]

r NAV calculation will be more complicated

I do not understand fully how the NAV is being calculated but I think the degree of risk that Nu will have to pay a huge fee is low for the first weeks and the innovation brought by this proposal outweighs it.
That is why I am voting in favor.
I will update soon my feeds.

[henry]

The number of votes is going up very slowly. We need about 200 more votes to pass the motion. I am reviewing all the concerns shareholders expressed and seeing how to address them.

Shareholders, if you are not voting for this motion now and haven’t expressed what your concern is, please kindly tell me what prevent you voting for this motion, by posting a reply in this thread or sending me a private message. If you just missed the thread and voting somehow, please vote :

Motion RIPEMD160 hash: b5e709a59226b979e4cb59e6d3a3e06b506e3761

Thank you very much.

[crypto_coiner]

This is an exciting experiment, that could be used as a benchmark vs the trust-less liquidity pool,
Verified and voted.

[cryptog]

@assistant motion vote b5e709a59226b979e4cb59e6d3a3e06b506e3761

[assistant]

Hi @cryptog

Here are the details for the Motion Vote on b5e709a59226b979e4cb59e6d3a3e06b506e3761:

---

##[b5e709a59226b979e4cb59e6d3a3e06b506e3761][1]
[1]: https://discuss.nubits.com/t/voting-motion-to-create-the-first-liquidity-pool-the-nu-lagoon

###[voting] Motion to create the first liquidity pool: The Nu Lagoon
Blocks: 5096 (50.960000%)
Share Days: 2262403832 (59.043290%)

---

[cryptog]

This motion has passed.

[cryptog]

Pool A will immediately begin operation after this motion passed

Has PoolA started?

[willy]

Topic changed accordingly.

[henry]

Thank shareholders for passing the motion. I also would like to thank @woolly_sammoth for suggesting the name of the pool.

Now, I am busy to do some final preparations. The Nu Lagoon Pool A will open for deposit in one or two days, and it will begin operation in next Friday, 20th Mar.

[woolly_sammoth]

I also would like to thank @woolly_sammoth for suggesting the name of the pool.

it’s amazing what your mind can throw up when you’re supposed to be thinking about something else.