I have taken possession of 10,987,151.20 NSR in exchange for the 53,397.55 NBT obligation from CCEDK. The details of the negotiated settlement, from the email that I sent to @ronny:
Here is the formal summary of our recent discussion on HipChat concerning the settlement of part of the funds that I have requested for withdrawal.
Withdrawals that have been requested, but are still pending:
30786.27 NBT (from account [redacted])
33989.07 NBT (from account: [redacted])
22611.28 NBT (from account: [redacted])
Total: 87386.62 NBT
NuShare exchange rate is established as 0.00486 NBT/NSR – the average between the price posted in the discuss.nubits.com forum topic (0.004568 NBT/NSR) and the current price listed on CoinMarketCap (0.005152 NBT/NSR).
This rate only applies to the outstanding funds detailed below, further settlements will be assessed using the prevailing NBT/NSR exchange rate at the time.
To satisfy two of the three CCEDK accounts ([redacted]), CCEDK has agreed to pay the following:
6334623.45 NSR for the 30786.27 NBT from account [redacted]
4652526.75 NSR for the 22611.28 NBT from account [redacted]
Total: 10987150.2 NSR
A transfer address has been set up to receive these NSR in trade for the outstanding NBT due to me. I would like to request a test deposit of 1 NSR sent to the address:
Once I have confirmed receipt, please send the remainder in the form of two transactions, one for 6334623.45 NSR and the other for 4652526.75 NSR.
Understand that the NSR being transferred will be considered the fulfillment of the outstanding obligation rather than temporary collateral to hold. This means that once the transfer occurs, the NSR will be treated as part of my original grant’s operating funds and I am under no obligation to return them in exchange for NBT from CCEDK at any point in the future.
Once this amount has been confirmed deposited into the address in my control, I will consider these account withdrawals settled, with no further obligations due on CCEDK’s part. Remaining funds (non-NBT) in those accounts are still mine to do as I wish, and for the time being, will remain on CCEDK until I decide on the next course of action (return them to the exchange order books using NuBot, or withdraw them directly).
Details of this agreement will be presented to the Nu community and included in my holdings reporting going forward.
CCEDK’s agreement will be considered binding once the funds have been sent. If CCEDK disagrees with anything documented, please let me know before funds are sent.
Shareholders can review the payment transactions by viewing the referenced deposit address in the Nu block explorer to confirm that the NSR agreed to have been placed in my possession, and that the obligations for two of the three trading accounts that I had outstanding on CCEDK have been discharged.
These NSR will remain in my possession until the time when a decision is made for what to do with them. I will include them on any grant operations reporting going forward.
The remaining 33989.07 NBT in grant funds still needed will be addressed in a future post, once CCEDK and I have determined the timeline and method for repayment.
If Shareholders have any questions about the settlement or the terms, I will do my best to address them.
I would like to thank @Ronny and the CCEDK team for the prompt attention regarding the funds; any delay in activity between the announcement of this thread and this settlement is my responsibility.