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Custodial Address:
BAoDAU3GwBVyaWC99kfUgJftzgi2FwuXDF
Amount Requested:1000 NBT
Collateralized Custodianship Upon the passage of this grant, @Nagalim will burn 500,000 NSR. FLOT will then provide @Nagalim with $1,000 of BTC as part of the weekly Tier 4 overflow calculation. T3 Operation @Nagalim will perform Tier 3 operations defined by the purchasing of NBT at $0.997 and the selling of NBT at $1.003 off-exchange. Only btc and nbt will be accepted, and any chosen prices will be recorded with day, time, price, and exchange of reference. No trade of less than $250 volume will be accepted. Tier 4 Interactions Each week, FLOT will refill either side of @Nagalim's pool that has less than $500 total funds to $1,000 using the weekly declared BTC price by Tier 4 signers during the Tier 4 overflow calculation. If @Nagalim holds >$1,500 on either side of the pool for longer than 12 hours, funds will be moved to a Tier 4 address to bring the pool back to $1,000. @Nagalim will be compensated with 0.2% of the trade volume (total number of NBT involved in non-tier4 transactions) paid in NBT either through Tier 4 or periodic grants. In this way, Nu only profits with a 0.1% spread, but manages to have a wider liquidity network for just the cost of the collateral risk. Operation's end If @Nagalim decides to end operation, it is understood that the shareholders will grant a fresh 500,000 NSR upon a graceful exit and replacement of Tier 4 funds. Disclaimer Shareholders are to realize that this is a trial and temporary operation. Audits and Liquidity Reporting will be looked into and possibly developed using future grants. This grant will hopefully stimulate a collection of T3 custodians such that FLOT must only sign one big Txn once a week and won't be called in to fill T1 pools so often.
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