I called it “proxying” BTC to USD as far as I remember.
I was very afraid of the volatility risks associated with assets like BTC and tried to mitigate those risks.
I shy away from the exchange default risk when leaving funds on exchange beyond those, you need for liquidity provision.
Keeping some funds at the exchange is no bad idea.
It would be great, if T2 could be “proxied” from NBT to USD and back (through NBT/BTC and BTC/USD) to protect proceeds from NBT sale against BTC volatility.
It would require liquid markets and cost a fee.
Automization for that is necessary.
A considerable part of the reserve needs to be kept in a safe place.