Park Rate Voting

NuShares
#1

All,

Lets use this thread as a meeting place for interest rate discussion. Users should be able to view this thread for a quick update on the current consensus of share holder rate voting.

The current topic is about wheather or not to raise interest rates for NuBits launch and, if so, what durations will be affected and what should the rates be.

pb

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[Passed] Motion to end LPC operations of KTm, Jamie and NSR sales of Jordan
#2

These seem to me like good rates for launch. Once we get an idea of demand, they can be adjusted accordingly.

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#3

I am also supporting this

#5

I agree that this is a good place to start. By the time the 1 and 2 year durations are unparking, money supply should be so much higher that the network will hardly even notice the extra supply.

Lets all keep a close eye on this. Depending on demand, we may need to drop rates quickly.

1 Like
#6

Do we have indicators that will tell shareholders how many NBT are parked for how long? I can imagine a useful stacked area graph showing NBT dividend custodian supply, NBT circulated supply, and NBT parked supply, all stacked vs time on the same graph, which would also demonstrate NBT-expected-to-come-unparked vs time.

My Economic Analysis of the Nubits System
#7

Since we don’t know the rate of 1yr and 2 yrs, why don’t we set it something more moderate like 5% so that we don’t have everyone ask the essentially no-quick-answer question – where do you get the money to pay that high interest?

Park rates missing
#9

I agree demonstrating how parking works and providing an incentive for initial adopters is a good idea.

Some relevant points:

  • The protocol only permits a rise of 1% per 1440 blocks. Because of the relatively short vote period (2000 blocks), this helps protect the network from a malicious entity that may wish to suddenly raise park rates to ridiculously high levels to receive the parking premium. This means we need to begin raising rates now. If the vote indicates a a rise higher than 1% in 1440 blocks, the rise will not be rejected, just limited to 1%.
  • While current park rates are currently displayed in the Nu client, soon we will have a getparkvotes RPC that can detail the votes in the last 2000 blocks (or any number of blocks) to give insight into where the rates might be headed to and what the level of consensus is. It is detailed here for those who have access: https://bitbucket.org/JordanLeePeershares/nubit/issue/113/new-rpc-getparkvotes
  • I suggest rates only be elevated for a short time. While high rates would continue to encourage adopters, it poses a risk to the long term health of the currency.
#12

Supporting these rates. Voting in my client right now.

#13

Something is making the 1 year rate lower than the 6 month rate.

Some shareholder is not voting for 1 year or 2 year period ?

#14

The protocol limits interest rate rises to 1% every 1440 blocks. This is effecting a number of the longer durations right now. It might be a good idea to raise this limit a bit.

#15

All,

Bitcoin has entered a key support area: https://www.tradingview.com/x/44vaeOMC/

For this reason, a lot of traders are moving out of NBT and back into BTC. This is is hurting our already weak buy walls. I believe this is a compelling reason to consider raising interest rates by a few points.

pb

#17

I’m not convinced as BTC broke 500 barrier earlier. With lack of news it might break this one as well in next week or so. Some hope for good news next week due to rumours of announcements but if that fails to deliver I think it will go down even further.

Although the perception of finding the bottom might temporary create some sell pressure, I like to really have some data on the buying and selling of NBT. It is a lot of work to track that manually across exchanges and across pairs. I’m sure some are already tracking this in some way or the other. Is there a way to share this data publicly even if it is just a spreadsheet or raw csv? Happy to play a role in the distribution of it if required.

I think that will empower the shareholders greatly to make the right decisions.

#18

I agree with your assesment of BTC. This, however, does not change what a lot of traders will be doing at this price range. Our buy walls are about half the size that they were yesterday.

#19

And that is the information (buy wall halved) I like to have on a daily base at least. As we have already identified the rate adjustments are a bit too slow to respond to this kind of short term events. Nevertheless I will increase the park rates in my client just in case BTC goes up. But I indeed do have the feeling that I’m kicking the can forward without getting rid of it. It is good to see that many think about solutions for this in the mid to longer term. This should result in better mechanism to deal with this scenario at hand.

#20

Given the recent lack of buy walls I am increasing my park rates restoring what we had originally planned for release in Park Rate Voting

1 Like
#21

I am intrigued by such choice of rates - Though they seem to me reasonable, is there any economic basis or reference from which this table was derived from?

#22

I’m trying to figure out a way to ask this without needing people to reveal information…

If you hold shares, and are minting, can you please review your park rate votes to see if you are voting for values, or if you may be actively voting for “0” for any of the durations?

#23

FWIW, I’m voting for zero in all durations. I think it’s normal that demand after week 1 would temporarily recede - from what I can tell, many people bought NuBits just to try them out, or even without realizing what they were (stable). With the conservative dividends payment in place right now I don’t see the peg being in danger.

Demand should slowly and steadily begin to increase. The Bitcoin bear market is helping prove the value of our offering.

#24

Given that environment is changing quickly, I tend to go for more strategic voting. At the moment I have some short term parking rates (0.75%) to satisfy the traders taking a breath and hold some NuBits, nothing in the middle and 2 and 2.5% for 1 and 2 years as that is a real commitment.

#25

I second the idea that a strategic voting is valuable in this quickly changing environment and that’s why I suggest something like this:

11.4 days: 0.1
22.8 days: 0.25
1.5 months: 0.5
3.0 months: 1
6.1 months: 1.5
1.0 years: 2.5
2.0 years: 3