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

Ben 2014-09-30 17:06:07 UTC #2

@Chronos - The way that I interpreted @JordanLee’s post, it was intended to introduce buy-side liquidity into the system. It isn’t clear from your proposal if you intend to deposit 20,000 NBT to CCEDK, or if you mean to deposit 20,000 NBT worth of PPC or BTC (and then run that as a dual-side custodian once buy-side liquidity is used to purchase back NBT).

Can you please clarify?

Chronos 2014-09-30 17:07:38 UTC #3

My apologies for the ambiguity. If elected, I will deposit 20’000 NBT-equivalent-value of new funds, either USD or other cryptocurrencies, not NBT. The funds will operate fully and entirely on the USD/NBT currency pair, in order to be eligible for the 50% modifier in Jordan’s offer.

None of the funds will come from NBT holdings, so the entire amount will begin operations on the buy side of the peg.

Ben 2014-09-30 17:09:52 UTC #4

Thank you for the clarification.

desrever 2014-09-30 17:37:45 UTC #5

I will vote provided you don’t suggest too many improvements to NuBot kidding =)

JordanLee 2014-09-30 19:11:06 UTC #6

I would like to clarify that Chronos’s proposal does qualify for a 3,000,000 NSR bonus upon completion of the 30 day service period. To qualify, Chronos must start with USD on CCEDK, providing price support on the NBT/USD pair. The same is true of other LPCs: you must initially provide your liquidity as a buy order for NBT using the asset that is the other half of the trading pair.

jmiller 2014-09-30 21:17:37 UTC #7

Thanks, Chronos! You have my vote.

Chronos 2014-09-30 21:22:20 UTC #8

This is exactly what I will do, if elected.

Thank you, everyone, for your votes!

pennybreaker 2014-09-30 22:54:32 UTC #9

Thanks for the proposal!

Cybnate 2014-10-01 05:07:41 UTC #10

You have my vote. Thanks for getting organised.

desrever 2014-10-01 09:43:48 UTC #11

How do you plan to quickly get USD to ccedk?

Jimmy 2014-10-01 11:00:14 UTC #12

Thanks for the proposal. I will vote you.

Chronos 2014-10-01 14:34:29 UTC #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.

lovely89 2014-10-02 09:05:49 UTC #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.

desrever 2014-10-02 09:51:59 UTC #15

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

crypto_coiner 2014-10-05 13:30:42 UTC #16

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

Chronos 2014-10-05 16:33:38 UTC #17

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

Chronos 2014-10-06 18:21:14 UTC #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!

desrever 2014-10-06 19:51:46 UTC #19

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

Chronos 2014-10-11 18:36:44 UTC #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!

Cybnate 2014-10-12 04:08:52 UTC #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