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Custodial Address:
BCayGPSiGtruHuCjGBaM6GP4FhBAHXWFWq
Amount Requested:245 NBT
LiquidBits TLLP custodial grant request Custodial grant request to continue to operate LiquidBits.net, a liquidity pool for NuBits. @cybnatecontinues the independent trust less liquidity pool (TLLP) to provide liquidity on the EUR/NBT, USD/NBT and BTC/NBT markets. A target of 7,500 NBT on the bid and ask side of the order books will be provided by the pool split over 3 currency pairs, resulting in a total maximum liquidity of 15,000 NBT. The operation will end after thirty (30) days when a motion or grant to continue operations haven't passed before. Liquidity provided by users will be compensated as follows: with up to 7.5% per month (0.25% per day) on CCEDK’s EUR/NBT pair on both sell and buy side to a maximum of 2,500 NBT ( max pay-out 187.50 NBT/30 days) with up to 7.5% per month (0.25% per day) on CCEDK’s USD/NBT pair on both sell and buy side to a maximum of 7,500 NBT (max pay-out 562.50 NBT/30 days) with on average 10% per month** (0.33% per day) per month on Bitcoin.co.id BTC/NBT pair to a maximum of 5000 NBT in total but split as follows: 0.38% per day up to 2500 NBT on sell side ( max pay-out 285 NBT/30 days) 0.28% per day up to 2500 NBT on buy side ( max pay-out 210 NBT/30 days) using the pool’s calculations based on the Dutch auction model toallow a fair distribution of returns amongst liquidity providers. 1245 NBT of the requested amount in this grant will be held as reserve to make pay-outs to connected users. The current grant has 1245 NBT left as of 29 June with about 9 days to go at a current payout rate of just under 10 NBT on average. Allowing for a minor increase there will be approx. 1100 NBT left. Total required 1245 - 1100 = 145 NBT. Terms and conditionsPay-outs take place every 24 hours. The minimum pay-out is 1 NBT. The spread continues to be 2% on either side with 0.075 tolerance on both exchanges. Operations and pay-outs will start within 3 days after the custodial grant has passed successfully. The pool will continue to operate under the name LiquidBits.net. Remaining funds will be settled with future grants or when the pool is discontinued, burned. FeeThe pool fee is a one-off 100 NBT and serves as a contribution for the effort of supporting the pool, the website,reporting, supporting the users and the monthly costs of operating the server. Disclaimer and risksThe provisioning of the pool is based on best efforts. No claims can be made by users when the pool server or client software is not available or not working properly. Liquidity providers remain in full control of their funds throughout the operation of the pool. The pool operator won’t have access to any of the funds hence the reference to trust less liquidity pool. Therefore liquidity providers bear the full risk having their funds on the exchange and won’t be compensated by this pool on an exchange default or inability to withdraw their funds. Liquidity providers are exposed to the risks of speculators hedging against them on other pairs than USD/NBT like EUR/NBT with the BTC/NBT pair a particular high risk due to its high volatility. Finally, please be reminded of the following: Don’t risk more than you can afford to lose!
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