The liability for the Shareholders is still without limit. When the grant is deemed to high the Shareholders are still liable for that grant and can only vote for a motion to reduce future grants by lowering the fee or closing the contract.
I’m still not feeling comfortable with an ongoing limitless liability which requires an action from the Shareholders.to reduce or stop it.
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
Blocks: 4736 (47.360000%)
Share Days: 2367570972 (58.618808%)
Motion RIPEMD160 hash: b5e709a59226b979e4cb59e6d3a3e06b506e3761
Hello everyone,
I would like to propose to create and manage the first private funded liquidity group pool: The Nu Lagoon. The Nu Lagoon will contain multiple pools. Different pool has different expected return rate and different risk. It will up to participants to participate which pool. Following are the details.
The withdraw order will be processed and take effect at next accounting day.
yes
Previously custodian fee grant request can’t be voided, because the liquidity service is already provided before the fee grant.
If we are going to set a ceiling for fee grant in a month, what is a proper number in your idea?
UPDATE on preparation of Pool B:
I am very happy to announce that @jmiller will join the Nu Lagoon as one of my sig partners. Her current work as a shareholder funded LPC shows high standard of professionalism and obviously gained respects from the community. Her future work in the Nu Lagoon will contribute to its success a lot and eventually contribute the Nu’s success a lot.
I am still looking for another sig partner, as there are 3 operators needed in pool B. Substantial Nu shareholders or community members with a reputation, if you are interested, please contact me.
Nu shareholders,
There are 4700 votes on this motion but the number stop rising now. The motion won’t pass if there is no more support. I spent most of my time in designing and preparing this liquidity pool last two weeks. Can everybody at least agree that the success of the Nu Lagoon will strengthen people’s confidence of Nubits pegging and will help Nubits in becoming a busy intermediate currency, and agree that it’s worth a try. I will do my best to manage it well and I am confident it will succeed. Please vote on this motion and kick off the game.
Motion RIPEMD160 hash: b5e709a59226b979e4cb59e6d3a3e06b506e3761
i still believe no motion is needed to start the project!
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 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?
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
In pool A, accounting day is every Friday
.
Ah ok. Tks.
I need now just a clarification on the ceiling before voting yes.
only pool’s participants needs to agree with the pool’s terms. shareholders will not necessarally be the participants!
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.
Yes. But I need shareholders to promise to pass the fee grant which is calculated by the terms in this motion.
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 ?
Yes. If there is a ceiling, the formula for NAV calculation will be more complicated.
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: 4737 (47.370000%)
Share Days: 2331184000 (58.278660%)
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.
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.
This is an exciting experiment, that could be used as a benchmark vs the trust-less liquidity pool,
Verified and voted.
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%)