Smaller LPCs are best for now. Submit a proposal!

[JordanLee]

xjabc, who may become an LPC, has pointed out that right now it is quite difficult to deposit BTC or PPC on BTER or CCEDK and convert it to USD in significant quantities at reasonable prices. For this reason he suggested providing relatively modest liquidity himself.

Right now KTm is our only LPC. This lacks the redundancy our network requires to function reliably. So, I suggest LPCs that want to provide relatively modest amounts of liquidity present a proposal to shareholders. Ask for generous compensation to cover the costs of converting from BTC to USD at unfavorable prices. The $5000 of liquidity you provide will look quite significant when KTm’s NuBot experiences an unexpected service interruption.

[mhps]

Offering a bounty might get things going quicker because the potential LPC providers don’t have to write a proposal.

[Chronos]

…to cover the costs of converting from BTC to USD at unfavorable prices.

“Unfavorable prices” at the CCEDK exchange? That exchange doesn’t suffer from low liquidity, it suffers from no liquidity. It’s impossible to convert $5000 of BTC into USD on that exchange, because there are currently zero buy offers on the BTC/USD order book. See https://www.ccedk.com/btc-usd

What is the best way to get USD onto that exchange for buy support, other than the direct the sale of NBT, which KTm already has covered?

[desrever]

What is the best way to get USD onto that exchange for buy support, other than the direct the sale of NBT, which KTm already has covered?

SWIFT, PAYEER for USD + SEPA for EUR

[JordanLee]

I would like to offer 2,000,000 NSR to each of the next three people that get elected as a liquidity provider custodian and provide 20,000 NBT in liquidity for 30 days. LPCs can get a proportional amount of NSR for any smaller amount of liquidity provided for 30 days. So, 500,000 NSR for 5,000 NBT in liquidity. 50% more NSR will be provided for liquidity on an NBT/USD pair.

Once several people do this it will constitute a market that will evolve toward lower prices and better service. So I’m not buying 30 days of liquidity as much as I’m funding the creation of a market that can provide a mission critical function.

KTm is not eligible for this reward.

[desrever]

Hi @JordanLee , I am interested. How would that work? Should the prospect custodian be elected to submit RPC liquidyinfo? Will it have to run the bot in dual-side mode for 30 days? What happens after the 30-days period?

[JordanLee]

Yes, the liquidity provider custodian must be elected by shareholders and yes, they will need to run NuBot in dual-side mode for 30 days or more. After 30 days we will continue to need liquidity, but that can be arranged later (or the custodian can specify a term longer than 30 days, if they like). I think once we can get a few people involved, it will be easy to get more people doing this for progressively less compensation.

[CoinGame]

[jmiller]

Hi Jordan,

I have submitted for a motion vote to amend my original proposal that would allow the granted funds to be used 100% in dual-side mode for the first 90 days of operation. If the motion to amend is passed, would this grant qualify for your offer?

Thanks,

jamie

[Chronos]

would this grant qualify for your offer?

EDIT: Oh, I just realized, Jamie, that your proposal wouldn’t qualify for the NSR offer, because you are not bringing funds to the buy side of the peg. The NBT grant you would receive would be initially placed on the sell side of the peg.

[irritant]

could be three times 20,000 NBT, if smaller amounts are offered for liquidity by people, it could be more people?
(also interested, but still catching up and have to get my feet wet)

[jmiller]

If so, then the Jmiller proposal would be funded by both a 2% custodial fee and the referenced NSR offer above.

If this is approved by Jordan, we would then have 4 qualifying proposals, only three of which can be one of the “next three” that receive the NSR offer from Jordan. We’ll need some additional clarification on this, since the other three proposals have no custodial fees other than the promised NSR.

Thanks!

Although Jordan’s post did not specifically state that he was looking for people to put up their own money as LPC’s, after reading back through the thread and the LPC proposals, I believe it can be assumed that this is what he meant. I believe this disqualifies me since I will be using granted funds.

You guys enjoy the NSR!

[Chronos]

Yeah, I just noticed that, and you posted while I was editing my post.

Thanks!

[JordanLee]

I did have in mind that people would provide their own liquidity for the bonus. I do like the idea of you using the funds you are likely to receive for liquidity, however. We have very low bandwidth for motions at the moment where shareholders can only vote for one at a time. That will likely change in our next release. For now, I planned on finalizing my draft protocol change motion and then offering a second motion later about the burning currency protocol changes. Until the protocol changes to allow more motions, may I suggest that a custodial grant for 1 NBT can act as a motion. We just agree that a certain custodial grant represents a particular motion. If you would like to change the terms of your grant, I suggest you use a custodial grant for 1 NBT as a pseudo motion.

[jmiller]

Jordan,

Thank you for pointing this out to me. I have edited my thread to ask for a grant vote on the amendment.

[Passed] Proposal to Provide Sell-Side Liquidity and Shareholder Dividends

My apologies for any inconvenience.

jamie

[GLock]

Hi guys, I would like to participate providing liquidity, but I still need some clarification on the system. Or even better a thorough explanation or any reference that I can read up.

If I provide (to make numbers easy) 10,000 NBT, on CCDEK, what are the other steps involved from there?

Edit: to clarify I have read what is in the white paper, and understood the dynamic, what I am after is more practical information

[cryptog]

Me too, I am thinking about offering some liquidity to contribute to the peg.
I thought I should take a look at the bot first in order to get familiar with it before any liquidity proposal.
So I played with the bot but I am finding difficulty running it.
Here is my take on it so far: I have played a bit with the bot. Here are my remarks and questions

[crypto_coiner]

I am interested in being an LPC too - Providing a NBT/USD sell on ccedk should not be too difficult

[crypto_coiner]

This limitation to 3 ppl is provisioned by any motion?
For smaller liquidity, is there any limitation on the LPC number and if so, any motion?

[lg15x]

Small LCPs is a good idea. We may can allow them take exchange fees by 1% or 2% which was decided by themselves. And let them trade Nu offline or other ways.

When they can make profits, they may provide more liquidity. Just a thought.