Here is a draft proposal for continuing liquidity operations on Poloniex and Bittrex.
The proposal uses the funds from the current grant which runs till 1 October. The spread will then be reduced to 1% according to this grant. The grant is for 90 days at a cost of USNBT129 using existing proven infrastructure.
I would appreciate to have some feedback especially about the return addresses for both NBT and BTC. I would prefer to include that and the owner(s) of those addresses in the grant. In the current grant that was FLOT but I believe that is no longer functional for liquidity operations and maintaining reserves.
Just hashed the proposal without changes: f12407c958d5df4a85f3988b9c9010737c28a74e
Please add the following to your client if you wish to support this proposal:
BRwYHAt34y2Q3NyyD2mxHDxuMdVsGKNWF6 , 129
If this proposal haven’t been passed before 1 October or at least have a majority vote at that date, I will withdraw this proposal and decommission all related NuBits liquidity infrastructure services as there is a cost in sustaining this.
In that case I will return all Nu funded BTC and NBT in my possession to either an agreed address or one of the FLOT addresses.
This market is in danger of de-listing due to low trade volume and lack of user interest. It may be
removed on Friday, September 30th 2016 unless the average daily trade volume for the last 7 days exceeds 0.2 BTC. If you would like to keep the market listed, please encourage the development team to contact us at firstname.lastname@example.org.
Unfortunately and still surprisingly it becomes clear that the shareholders don’t want any decentralised liquidity services or contract even not with Nu-owned shareholder funds at a bottom price (129 NBT for 3 months).
The proposal barely makes 5% of the votes.
Shareholders have learned that they can’t make a voting pass without the support of Phoenix and that Phoenix can make any voting pass he wants without shareholder support.
It’s not more and not less than the acknowledgement that Phoenix is in full control.
Why should shareholders bother about configuring votes?
Is it even in one of the data feeds?
Then again, why should data feed providers care?
JordanLee has effectively ended much of the decentralization and installed Phoenix as dictator, whether for the good or the bad we’ll see.
I have an opinion, but I always sound so negative.
It is true I am popular with shareholders. I want to remind everyone that the number of outstanding NuShares has nearly doubled since I began getting majority shareholder support in early July. We had one 24 hour period where 1 billion NuShares were traded on Poloniex, in addition to generally high trading volumes. The power structure, NuShares, have been mixed and shuffled around quite a bit recently. Yet, my support is still very strong. My latest custodial grant for a second term as Chief of Liquidity Operations currently has 57% and is still gathering additional support. The majority of NuShares have changed hands in the last 3 months. I am more popular with new shareholders than I am with the old.
It is true I am a powerful figure in our network. Yet, that is only because I enjoy widespread shareholder support. As soon as that evaporates for any reason, I won’t be able to do anything further. Shareholders still control our networks. They just like me.
With printing half of them, that sounds obvious and not really an achievement.
Well in contrast shareholders don’t like my proposed liquidity services. There is surely a different breed. The voting threshold hasn’t got beyond 6% which is truly disappointing. Therefore I withdraw the current services and this proposal for further consideration. I will start decommissioning the services over the next few days.
Given this outcome and previous discussion I will withdraw from providing active contributions to this community including the provisioning of a datafeed. Apparently there is no longer a need for that and Phoenix probably provides his own ‘secret’ datafeed for his supporters, so I will stop wasting time on it.
I’m still considering whether it is worth to submit a proposal for continuing to develop and maintain NuDroid and would like to hear some feedback from the shareholders.