Proposal “infra-lqd-pvd-201609“ (Closed)Back

Title:Infrastructure - Liquidity Providers (Sept)
Owner:babygiraffe
One-time payment: 28 DASH (4673 USD)
Completed payments: 1 totaling in 28 DASH (0 month remaining)
Payment start/end: 2016-09-05 / 2016-10-20 (added on 2016-08-19)
Final voting deadline: in passed
Votes: 954 Yes / 66 No / 0 Abstain

Proposal description

This is a cross-post from the Dash Forum

The liquidity provider team supports the network by providing liquidity for mixing on the network. Results for mixing on the network have resulted in dramatically shorter mixing times, which in the past could have taken as long as a few days to complete. This proposal simply extends Liquidity providers for one additional month at an updated exchange rate. See previous Liquidity Provider proposals for additional details on this program.

Requested funding is as follows for the September 4th budget cycle:
Total: 27.98 Dash

Exchange rate risk is carried only by the liquidity provider team and not the network.

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Discussion: Should we fund this proposal?

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1 point,10 months ago
I'd like clarification on whether these funds are solely used to incentivize some people (can I know who?) to keep their funds mixing on the network, or whether the created funds themselves are used in the mixing. Or a little of both? Thanks.
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0 points,10 months ago
It is a bit of both, there are 6 liquidity providers and one person that administers the program. Each are therefore provided about $43 per month, which more than covers the mixing fees they incur. So they do get "paid", but some is to cover the network fees (50% of which the MN owners technically get back in block rewards).
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0 points,10 months ago
Thank you for the clarification.
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1 point,10 months ago
The core team chose a small group of trusted people to run liquidity providing wallets. The wallet transactions database have been turned over a few times and debug logs, this was for helping to find bugs but it also helped check on running. The Liquidity providers are not publicly known. But they are required to have at least 100 dash constantly mixing 24/7. Most have a lot more than that.
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0 points,10 months ago
Thank you.
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