Hello fellow friends of Nu,
The good news first: With our reduced liquidity targets in the current operation (from 50,000 NBT to 30,000 NBT) we had quite some competition on our pairs and saw rates < 0.2% quite often.
This is a good sign, as this was the first term in which competition really commenced on our NBT/BTC pairs on Bittrex and Poloniex.
We’re currently working on a graphical analysis, showing the current rates over time, to make this fact more visible.
Of course, we as operators and shareholders are happy that the actually paid rates are decreasing for NuNet.
On the other hand, we received some complaints from our users, though various channels, that they want to provide more liquidity for Nu as they found this kind of investment profitable for themselves.
Speaking about profitability, we know about the current BTC price swings but don’t think an increased payout rate is needed, because we are confident that providing liquidity with the current max rates (0.3%) is still a profitable game in the (relative) long term.
As a compromise, we want to propose to keep our current rates (0.3%) but raise our liquidity targets back up to a total of 50,000 NBT.
Given the looming protocol 2.0 switch over we would like to investigate using NSR as a payout in our next operation. That will require some modifications to the server software though which isn’t ready as yet. For this coming operation we will stay with NBT as the reward mechanism. We also want to look at diversifying the exchanges supported by NuPool to ensure a greater Nu presence across the supporting exchanges/pairs. As the NSR change will be a major one it makes sense for us to continue in our current vein for this operation and make changes when the software is ready and tested.
Due to time constraints outside of Nu, the fourth operation period has over run. There is a little under 215 NBT remaining in the pool fund. We propose to start the next operation when this proposal is posted. Running at full target that would allow the pool to operate for 1 day. Recent payouts have been in the range of 50-60 NBT per day though so we should see more like 4 or 5 days which is hopefully long enough for this proposal to pass. Should the worst happen and the grant doesn’t get granted before the funds run out, we will stop the server until it does. Any rewards earned will be paid manually when the grant is granted and the server will be restarted. Apologies for this state of affairs. Tighter control will be kept on the operation in the future.
Here are the grant details for the next operation:
Proposal RIPEMD160 hash: a4787e0fd9e234a83e1170a2751ad7f5a070fba5
=##=##=##=##=##=## Custodian Hash starts with this line ##=##=##=##=##=##=
Custodial Address: B4j5RX8qaMLwfNF5o3UkXt5B7GNtDUhXbM
Amount Requested: 4788 NBT
NuPool will continue operation on Poloniex and Bittrex for another 30 days. The total target of the operation will be 50,000 NBT split equally between the two sides of the two supported exchanges.
All other Pool parameters will remain as they are.
The pool reward will stay at 0.3% per day which translates to 9% per month
The figures are:
Duration: 30 Days
Daily Rate: 0.3%
Total Rate: 9%
Poloniex: 25,000 NBT > 12,500 BID | 12,500 ASK
Bittrex: 25,000 NBT > 12,500 BID | 12,500 ASK
Server Tolerance: 0.0085 or 0.85%
Grant Amount: 50,000 x 9% = 4500 NBT
Pool Fee: 50,000 x 1% = 500 NBT
Amount Rolled Over: 212 NBT (after last payout of operation 4)
Total Grant Requested: 4788 NBT
=##=##=##=##=##=## Custodian Hash ends with this line ##=##=##=##=##=##=
Verify. Use everything between and including the <custodianhash></custodianhash> tags.
- We are happy to hear your thoughts on the partial redesign of NuPool.net. @Willy has been hard at work reformatting the data from all TLLPs.
- The Cryptsy wrapper is undergoing final testing and is nearly in the wild
- The SouthXChange wrapper is currently being developed by @TheCrema and is getting tested as we speak
- The tighter integration with NuBot 0.3.* is still underway. Holidays have meant that development was slower over the holiday period but it is hoped that it will pick up again now.
Sammoth and Willy
#####edits: forgot to subtract remaining funds from grant total