Basic implementation of a proof-of-liquidity pool concept to in order to provide distributed NuBit liquidity.
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README.md

README.md

Automated Liquidity Pool - formerly known as Trustless Liquidity Pool

Join the Nu-pool chat at https://gitter.im/inuitwallet/nu-pool Nu-Pool

Join the LiquidBIts chat at https://gitter.im/Cybnate/nu-pool LiquidBits

In a nutshell: You run a program that places NBT and BTC orders on an exchange at 1 USD with a very small spread. The program will send proofs of those orders to a server which in turn pays you interest in the form of NuBits.

Participating in the NuPool has several risks:

  • Hedging: Traders might be able to successfully hedge against you. This means that people speculate an the BTC price movement and buy NBT from you at a low price and sell them back to you when the price is high (or vice versa).

  • Exchange Default: This means that the exchange itself might cease the operation and won't return the customers funds. A situation like this has happened many times in the past (most prominently on BTER a while ago).

  • Connection Issues: If you are running an automated trading bot then it requires a stable internet connection to perform actions. If your internet is suddenly broken, or your computer restarts without closing the client software correctly, then there might be open orders left on the exchange which won't get closed until the connection is reestablished.

  • Failure of the Nu project: Since payouts are performed in NBT and your funds may be transformed to NBT, a failure of the Nu project would lead to a loss of value of your funds.

Important: The pool operators are never in control of your funds and are not responsible for any financial loss that might occur because of any reason whatsoever. Taking these risks is what you are getting compensated for. Please make sure that you understand what kind of service you are providing during participation and don't use any money you can not afford to lose.

Trading Bot:

PLEASE BE AWARE THAT AUTOMATED TRADING WITH THIS SOFTWARE MAY BE RISKY, ADDICTIVE, UNETHICAL OR ILLEGAL. ITS MISUSE MAY ALSO CAUSE FINANCIAL LOSS. NONE OF THE AUTHORS, CONTRIBUTORS, ADMINISTRATORS, OR ANYONE ELSE CONNECTED WITH NUBITS, IN ANY WAY WHATSOEVER, CAN BE RESPONSIBLE FOR THE USE YOU MAKE OF THIS SOFTWARE

By using any software in this package you declare to have accepted the afore-mentioned risks.

And to repeat: Neither the developer of this software, nor the liquidity operation on NuPool.net is in any way related to the official Nu core-team.

Also note, that the developer of this software does not participate in any liquidity operation that uses this software. No claims, in any way, can be made against the developer of this software package.