[Passed] Proposal to provide NBT/USD dual-side liquidity

NuShares Passed Grants
#9

Thanks for the proposal!

#10

You have my vote. Thanks for getting organised.

#11

How do you plan to quickly get USD to ccedk?

#12

Thanks for the proposal. I will vote you.

#13

This depends on CCEKD market liquidity at the time of election. In the worst case, it may require a fiat transfer, which won’t be instantaneous. The 30-day period will begin once the funds are in place on the USD/NBT pair.

#14

I’ve been wondering, what exactly happens at the end of the 30 days?
Do you Chronos, withdraw as a Custodian, then taking control of the remainder of the USD’s AND do you have control of the nubits you have bought plus the nushares that are being offered? I’m struggling to find out what happens after the ‘x-day’ period.

Regards.

#15

I asked the same question and here is an answer Smaller LPCs are best for now. Submit a proposal!

#16

In short, Is it a buy side or a sell side LPC proposal?

#17

In short, all funds start out on the buy-side. Funds eventually move between sides during trade.

1 Like
#18

This proposal has passed. Funds will take some time to get in place. I will post an update when we are ready to begin operations. Thank you!

#19

Hi Chronos, I’ll ask you to get in touch to coordinate and to wait some days before making your proposal operational.

#20

Update: I have received a go-ahead from @desrever to begin operations once the funds are in place, which is expected shortly. Thank you for your patience!

1 Like
#21

Looking forward to receive some excellent data feeds or frequent reporting about your sales and buys. As the others are still having a hard time due to the bot bug fixing and administrative nightmares caused by that, you will have the opportunity to set a good standard from scratch :wink:

#22

Operations have begun, at 2014 Oct 14 at 18:30 GMT. Buy order for 20’000 USD placed at $0.998 per NBT on CCEDK. It immediately filled an order for 100.29175414 NBT, and the remaining funds formed a new buy wall.

Liquidity info is currently updated manually, once per 24 hours.

Post here if you have any questions.

Thank you!

5 Likes
#23

Great to hear about your progress!

#24

Update: Operation transitioned to dual-side NuBot successfully. Liquidity info is being reported to the NuClient automatically.

Please report any issues in this thread. Thank you!

1 Like
#25

Update: This contract is approximately 7 calendar days from its 30-day fulfillment period. The NuBot has functioned correctly during this time.

So far, this operation has purchased 16612.7868 NBT in the CCEDK NBT/USD buy wall. It has sold 0 NBT via the sell wall (KTm’s sell wall seems to have taken priority). Due to these trades, current funds are as follows:

NBT for sale at $1.002: 16612.7868
USD purchase offers at $0.998: 3387.2232
Total: 20000.01

Complete trade history, to date, is as follows:

At the end of the 30-day period, on or after 2014 Nov 13 at 18:30 GMT, the above funds may be withdrawn from the exchange. At this time, unless this contract is renewed, the remaining NBT in the sell wall may reenter circulation.

Feel free to post if you have any questions.

Thank you!

#26

This contract is now fulfilled. Below is the total transaction history while under contract for the 30-day period.

Final balances:

  • 16590.27444025 NBT
  • 3409.7354517511 USD
  • Total: 20000.01

At the dissolution of the contract, the associated NBT has been released into the market.

Feel free to post if you have any questions.

Thank you!

EDIT: Corrected error in final balance.

#27

Hey Chronos,

Thanks for the liquidity!

Any plans to submit a new proposal?

pb

#28

Yes, I’ve just put forward a new proposal: [Withdrawn] Proposal for NBT/USD dual-side liquidity on CCEDK

Thank you!

1 Like