[Passed] Proposal to be LPC for 1M NSR bonus

NuShares Passed Grants
#1

Dear Nu community,

I want to volunteer to be a new LPC. Not only for the bonus, but also for letting the community know and trust me. Thank you.

Proposal Begin*
To elect me to be a LPC, Nushareholders please vote on the following address and amount:

Custodian Grant: B5VFcW5FKpyrPMKCQxApcmpnikfMP8sMZy , 1

If I am elected, I will :
1, Provide a fund of BTC equivalent of 20,000 NBT to support NBT’s liquidity in BTC/NBT trading pair of exchanges.
2, Subject to Jordan Lee’s arrangement of the exchanges where this service will be offered.
3, Guarantee the liquidity support service start from the buy side.
4, Operate NuBot to provide dual side liquidity for a period of 30 days.
5, Offer operational reports.

I request 1 million NSR, which will be provided by Jordan LEE, as service fee.
Proposal End*

Because I need a grant address to report liquidityinfo. So I submit a proposal instead of a motion.
At the same time, I will withdraw my previous motion.

Thank you.
Dongshan

Update: According to Jordan Lee and desrever’s suggestion, I will be operating on Allcoin exchange.

2 Likes
Introducing Bitcoin.co.id - Nubits/Bitcoin with 0% Trading Fee
#2

Thank you for this proposal. You can track its shareholder approval here. http://blockexplorer.nu/votes

It will be passed when both Num Votes and Coin Days Destroyed Votes exceed 50%.

#3

What pair on what exchange are you targeting exactly?

#4

This is answered in the post. It’s the BTC/NBT pair, and the exchange is subject to shareholder needs at the time of approval.

#5

Ah, I guess I was just a bit confused. I thought all the current BTC/NBT pairs were already supported by custodians. Save Allcoin?

#6

I would prefer you specify which exchange you we be operating on. @Desrever and @wolly_sammoth have the best information about where the need is.

#7

Currently bitspark and allcoin are not covered by any custodians.

In a FIFS model, @teek should would be assigned to the first.

#8

All good. I can operate on allcoin exchange. Thanks.

#10

Dear shareholders,

I can see my votes increase slowly, because some of the shareholders are not voting on my address. As you can see I am the only one now step out to respond on Jordan’s 4 LPC program. Please vote me, otherwise Jordan’s program will be meaningless. I won’t disappoint you, I am already getting prepared to be a LPC, I opened an account on allcoin and got API key from Mark, I am going to play Nubots with my test account.

Thank you
dongshan

1 Like
#11

For the heavy-scrollwheeled guys :smile:

B5VFcW5FKpyrPMKCQxApcmpnikfMP8sMZy ; 1 NBT

1 Like
#12

voting, done

#13

Same here. My apologies for taking so long.

#14

Dear Nu community,

Nubots v0.1.4 is released. In this version, Allcoin Exchange is supported.
Now I am fully ready, I am running a test account on Allcoin at the moment, as you can see here:
https://www.allcoin.com/trade/NBT_BTC

I will start my operation in production in 12 hours.

Thanks.

#15

LPC SERVICE REPORT:
My service started at 12:30 PM December 14, 2014 GMT
In the AllCoin NBT/BTC market: [https://www.allcoin.com/trade/NBT_BTC][1]

The balance is: BTC:56.69064208 NBT:8.82214200

You can see the LiquidityInfo here:
“B5VFcW5FKpyrPMKCQxApcmpnikfMP8sMZy” : {
“buy” : 19913.00090000,
“sell” : 9.82210000
},
UPDATE: Because there is a problem of updating liquidityinf, I turned off the automate update and set it manually. I have contacted desrever, this problem may be solved tomorrow.
Thank you every one.
[1]: https://www.allcoin.com/trade/NBT_BTC

2 Likes
#16

LPC SERVICE REPORT 19/12/2004

Congratulations! The NBT market supported by me now has the biggest trading volume in Allcoin exchange!. The last 24 hour trading volume is 39,878.5539 NBT.

Current balance is: BTC:12.78346422 NBT:13,865.38702771

I am running v0.1.4a RC2. liquidityinfo is updated automatically now
“B5VFcW5FKpyrPMKCQxApcmpnikfMP8sMZy” : {
“buy” : 4002.37450000,
“sell” : 13865.38700000
},

Due to the drop of BTC price. The size of my fund shrink over 2k dollars now.

6 Likes
Proposal for NBT/BTC dual-side liquidity provider on next NBT exchange
#17

n1!

#18

NuBits - bringing mad volume to even the smallest of exchanges :slight_smile:

#19

@dongshan This is one of the risks of being a custodian.
Since the 1M NSR are worth 5k right now you are still in the black.
Hopefully those NSR will be much more worth in the future and BTC/USD will recover to the price of the date you started the operations.

#20

I know this can’t be governed at the protocol level, but wouldn’t it be prudent for custodians to hedge their exposure to BTC by shorting a combination of futures contracts on Okcoin, Bitvc, and 796?

#21

LPC SERVICE REPORT 28/12/2004

Current balance is: BTC:11.88351114 NBT:14,164.86311531

Liquidityinfo is like:
“B5VFcW5FKpyrPMKCQxApcmpnikfMP8sMZy” : {
“buy” : 3764.9936,
“sell” : 14164.8631
},

@beachlurker, what you mentioned is very useful. But my exposure to BTC is passively changing from time to time because of nubots’ auto trading. Its too costly to hedge manually.