Proposal for LPC service in classical mode

[xjabc]

There are lots of great discussions and great innovative proposals about how to improve LPC service these days. I really believe each one of them is making valuable contribution to Nu. Because there still will be some period of time before changes are implemented, I would like to submit a classical LPC proposal to continue my operation.

My main purpose is to demonstrate how this mechanism works, and that it is sustainable. I do not have a clear thought about what the right compensate rate is, as acquiring compensate money is not my major goal. So I simply use the average mean of Jordan’s suggested rate. To achieve my purpose, I think a smaller size of funds does not make much difference. So I reduce the funds to 5000 NBT.

Proposal Begin*
I would like to have Nu shareholders vote on the following custodian grant address and amount:

BETnKzgEsZuhkXuReZRSD1Kf4pqYgbHAWE , 625

If this proposal is approved, I will provide a fund of BTC equivalent to 5,000 NBT and run the NuBot to support the liquidity of BTC/NBT market in Poloniex or BTER or CCEDK exchange for 30 days.

My operation will begin at 2014 Nov 27 17:00 GMT (the time when my first term operation ends), If this proposal passed no later than that time.
Proposal End*

[Chronos]

Would be interested to hear any thoughts on this proposal. I see it is gaining some shareholder support, but probably not enough to pass unless support grows.

[desrever]

I am personally concerned about the custodian fee and the length.

The initial high rate proposed by @JordanLee was intended (and is intended) to attract new LPC to try being a custodian for a month. They I would expect those custodians to take a long(er) term commitment. I am not personally inclined to vote repeated short term custodian grants.

12,5% fee for one month of operation is too high imho, especially after the bot is getting more stable and exchange support increasing, the risk should be considered reduced. @KTm asked for a custodial fee of 2.025% (different scenario, not using hers capital, longer operations), but I don’t see myself voting for a proposal with 7 times KTm’s compensation, especially for a repeated grant.

I will be very happy of voting for @xjabc again as he became experienced with nubot, trusted, involved since early days and demonstrated reporting his operations. I just would like to see a long(er) term commitment with a proportionate rate.

[xjabc]

Shareholders who want me to continue my operation, please vote:

BETnKzgEsZuhkXuReZRSD1Kf4pqYgbHAWE , 625

I noticed that there is some controversy about my proposal, My proposal’s vote peaked at 49.2% about eight hours ago, then dropped to 48.8% now.

If it won’t pass in the next 20 hours, I don’t think it will pass eventually. I stopped Nubots but keep my funds on the exchange in these 2 days. So shareholders who support me please vote now. 20 hours later, I will withdraw my funds and cancel the proposal if it doesn’t pass. Thanks.

[Chronos]

Hang in there. I think your proposal will pass.

[xjabc]

Hi all,

My operation of liquidity provider custodian TERM 2
begun, at 2014 Nov 29 23:30 GMT, in the market of BTC/NBT on Poloniex
exchange. (https://www.poloniex.com/exchange/btc_nbt)

Because all my BTC was converted to NBT at the end of my TERM 1 operation, I started my operation with 5000 NBT in the sell wall, and liquidity info is updated now as:

“BLnSm2gf5mw89Q1HYK9jhVgJYGvEMbARs6” : {
“buy” : 0.00000000,
“sell” : 5000.00000000
},

Many thanks to the Nu community and shareholders to pass my proposal, I think it is the most controversial one, which takes 13 days to pass. Anyway, I will finish my job as promised.

Thank you.

Update: I will convert 2500 NBT to BTC in BTER exchange, deposit BTC in Poloniex in another account, and trade BTC with my Nubots.

Updata2: I followed Chronos’s advice. I converted 2500 NBT to 6.63 BTC in BTER exchange.

Then deposit BTC in my LPC account in poloniex. Now 2500 NBT in sell side and 6.63 BTC in buy side.

Liquidity Info is updated as:
“BLnSm2gf5mw89Q1HYK9jhVgJYGvEMbARs6” : {
“buy” : 2495.68060000,
“sell” : 2500.00000000
},

[Chronos]

Update: I will convert 2500 NBT to BTC in BTER exchange, deposit BTC in Poloniex in another account, and trade BTC with my Nubots.

In another account? There is no need for that; it will just lead to more exchange fees. Instead, why not send the BTC to the main account, and begin operations with 2500 NBT worth on each side of the peg?

[xjabc]

Yes. It’s a good idea. Thank you for your advice @Chronos

[Yurizhai]

Thank you. I like Poloniex, had some fun with alts this summer. I’m glad to see it supported.

[xjabc]

LPC operation report 13/12:At 13 Dec 2014 08:10 GMT
Custodian’s account Balance: BTC: 5.13472737 , NBT: 3069.35022505

Trade history:

Liquidityinfo:
“BLnSm2gf5mw89Q1HYK9jhVgJYGvEMbARs6” : {
“buy” : 1804.34940000,
“sell” : 3069.35020000
},

[xjabc]

My operation term2 will end at 2014 Dec 29 23:30 GMT. I will post a final report then.
Because of some personal reasons, I am not going to submit another proposal to continue the operation.
This should not be interpreted as a sign that I lose confidence in Nu.
Thank you.

[xjabc]

My LPC operation ceased at : 30 Dec 2014 12:38 GMT

Custodian’s account Balance: BTC: 8.62373706 , NBT: 1955.13917697

Trade history:

Liquidityinfo:
“BLnSm2gf5mw89Q1HYK9jhVgJYGvEMbARs6” : {
“buy” : 2693.01310000,
“sell” : 1955.13920000
},