The NSR buybacks will only occur when there is excess Tier 4 liquidity. It is not a promise to buy all shares from all shareholders; rather, it is a brief chance for those shareholders who value NSR the least to sell and destroy them for the benefit of the network.
The buybacks follow an increasing schedule as specified in the buyback motion. The 70% of market price is only a beginning value for the first day of each buyback week.
The purchases will take place over the period of Monday through Friday, with a single-price purchase order updated once per day on Poloniex or the generally accepted highest volume NSR exchange. The purchase order will be discounted from the last completed market trade by 30%, 20%, 10%, and 0% for Monday through Thursday respectively. If any excess funds remain on Friday they will be used to purchase NSR from the sell wall on Poloniex, up to a maximum of Thursday’s market price plus 50%.
Hopefully the Chinese community is able to access this forum. If not, please let us know so we can focus on finding other ways of communicating with our Chinese NuShareholders.