Right now things are going our way. NuShares are up nearly 100% in the 8 or 9 days since it began to become clear I had a real chance of being elected Chief of Liquidity Operations. NuBits are up more than 100% in the same time. The market and shareholders heartily endorse my candidacy and my plan.
But we have hardly sold any NSR so far. We had a tremendous opportunity to sell NuShares at great prices with high liquidity on June 29th and shortly thereafter, but this opportunity was almost entirely missed because the organization was unable to place NuShares on exchange for sale in a timely manner.
Today, once again we have a NuShare price that is skyrocketing on very heavy volume. We should be aggressively selling at such times. Unfortunately, NSR sales are still very impaired due to unavailability of sufficient NSR. This might surprise you, given that I just had a grant of 20,000,000 NSR come through in the last day. Let me explain.
FLOT NSR still hasn’t transferred NSR to @jooize that is needed for the auction closing Friday. We also had someone request to purchase 15 million NSR from us in the last day. Complicating the sale is the fact that neither @jooize nor I have confidence that we can actually access enough NSR for the auction and this sale combined (that would be 22.4 million NSR), much less NSR for next week’s auction and open market sales on Poloniex. This is a time to display the power of our liquidity engine. We only have tier 6 right now, NSR sales. But we are desperately short on fuel, even though demand for NuShares is quite high right now. It is very suboptimal, and not in line with the models we have developed in the form of passed motions.
FLOT NSR, will you please help us maintain maximum momentum by making NuShares available according to NuLaw? That requires a transfer to @jooize for auction #3. It will also require your cooperation to complete large sales such as the one under negotiation presently. Will each FLOT NSR signer please indicate whether you will do these two things? If I were elected as Chief of Liquidity Operations, that would an important additional reason to do these things, but NuLaw certainly expects them of you in the current circumstance. You are mandated to release NSR for immediate sale by NuLaw in the case that the buy wall is less than 25% of total liquidity. There is no buy wall and no peg today, so this clause in NuLaw is clearly applicable.
Will you help us by complying with NuLaw please? Shareholders need you, and have made their wishes clear.