@Nagalim will start an independent trustless liquidity pool server to provide liquidity on Bter.com’s NBT/BTC market. A target of 500 NBT on the bid and ask side of the order books will be provided by the pool and compensated via dutch auction at a maximum rate of %0.25/day resulting in a total maximum liquidity of 1,000 NBT. The operation will end after thirty (30) days for a maximum compensation of %7.5.
75 NBT will be held as a retainer for payments to liquidity providers, paid daily with balances >0.1 NBT and a manual distribution at the end of operation. The operator fee will be 75 NBT, to be paid in a subsequent grant. At the end of operation the pool will be maintained until the remaining funds are exhausted or another motion takes precedence.
The provisioning of the pool is based on best endeavors. No claims can be made by users when the pool server software is not available. Exchange failure or loss of funds caused by exchange operations is the risk of the liquidity provider.
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Not sure about BTER and providing liquidity on their BTC/NBT itself. But if this may convince them to offer a CNY/NBT pair it is worth a try. We all know that exchanges don’t earn their money on the fiat pairs so I’m fine of trying something to convince them.
Given the size of the operation and the limitation to 1 month, it is low risk. I would vote for it assuming that operations have been properly tested. I think it is a properly sized first step for an alias without much of track record except for some good posts in discussion threads.
Yes, but I intend on possibly wrapping the fee into future operations, so I’m only asking for 75 NBT upfront. But yes, the total debt for shareholders passing this motion is 150 NBT.
This was basically my thoughts as well. I’m also trying to set precedent for developing trust in this community.
My reward is 75 nbt and 75 nbt is a retainer to award liquidity providers (you are paying liquidity providers %15 if you’re calling 500nbt the target liquidity. I would say the target is 1000nbt: 500 on each side). The reason I chose these numbers is such that I have little motivation to take the money and run.
Also, an extra 500nbt liquidity on something like nupool on bittrex is negligible. Here, I’m providing support on an unsupported exchange, allowing for more network volume than the extra liquidity would contribute on an already supported pair. Add to this the fact that I am a new pseudonym and my operation would provide more credibility to tllp’s by further decentralizing operations and I think it’s worth it.
If you believe I will act purely in good faith, I can tell you that I intend on rolling much of the reward into future operations (such that Nu will always have an outstanding debt with me) and intend on quadrupling target on the next operation while keeping the operator fee relatively low.
I’m very happy you feel this way. Let me get the new server set up this weekend and feel a little more comfortable about the technical parts of payout. Early next week I hope to provide the hash.
Just change the config temporarily to a lower pay-out rate as Shareholders can’t guarantee a quick passage.
I will add it to my data-feed as I think it is a low risk proposal with opportunities.