This is a proposal to provide dual-side liquidity for the USD/NBT pair on CCEDK.
I am a known and active member of the community, having worked with both the NuBits team and the Peercoin community. I have successfully fulfilled a recent liquidity provider contract, proving my competence and abilities in this role. I have been encouraged by several members of the Nu team to put forward a new proposal.
If elected, I will deposit a USD equivalent of 10,000 NBT to CCEDK and operate a bot supplied by Nu to provide dual side liquidity. Under this proposal, I will let the funds trade between the buy and sell side of the USD/NBT currency pair for a period of 30 days. In exchange for this service, I request a fee of 5000 NBT.
A few thoughts:
- Jordan has expressed that he does not plan to continue the custodian-for-NSR bounty from last month. Instead, he hopes to see a market of individual proposals, such as this one, each in exchange for NBT compensation.
- Compensation for the prior 30-day contract was 3M NSR, which, at current market rates, was about 50% of the total funds put at risk. This proposal maintains that ratio of compensation.
- The currency pair in question, NBT/USD on CCEDK, currently has no buy-side support. This proposal would backstop that currency pair with new USD, increasing the utility of NuBits for those wishing to convert directly to fiat.
EDIT: This proposal has expired. See this replacement proposal.