Comparison between actual liquidity operations vs. with me as Chief

[Phoenix]

There has been a large spike in the NuShare price the last 12 hours under very heavy volume. The price currently sits 200% above what it was 12 hours ago. This major change invites a reaction from the liquidity operations team. Let’s compare how the team is actually responding with how it would likely respond with me as Chief of Liquidity Operations.

Actual Response

Nothing in terms of blockchain transactions, exchange orders or exchange trades has yet occurred. @jooize has created and signed a transaction to transfer 7 million NSR to a Poloniex account under his control. No one seems to know whether the other signers will sign the transfer at this point. Nobody can say with any certainty what will occur in liquidity operations in the coming hours and days. I don’t know myself, even though I have presented a very clear vision of what should happen.

Probable Response With Phoenix As Chief of Liquidity Operations

Two members of the team would each have an account on Poloniex they control which would have NSR in it under present circumstances. Each of these two members would also have blockchain NSR under their sole control. The combined amount of solely controlled NSR for each member would be managed at between 5 to 10 million per team member.

If my custodial grant for 20,000,000 NSR at SUrJhmYVeNThoG6oFWjY9pMawRJ3iCTHCq had passed, I would have found use for it in recent hours.

Both team members are granted discretion in the use of the funds. Today is such a day for using that discretion. If one team member is unaware or unavailable, the other acts to sell NSR directly in the Poloniex market without publicly announcing the action in advance. This preserves a pricing advantage for shareholders, as opposed to broadcasting our planned interactions with the market. I would use the NSR in the 20 million custodial grant to top up supplies of NSR of these two members to 10 million or so. The sale of around 7 million NSR would already be complete, and we would be fully prepared for an additional action at any moment.

In the last 8 hours or so the NuShare price has declined quite from its dizzying heights of nearly 600 satoshis. If we had acted earlier, we could have secured a better price for shareholders, but didn’t happen, because I am not Chief of Liquidity Operations yet.

Please vote to create the Chief Of Liquidity Operations position with motion hash 57ee6c5da13b0c91ca05a4f32e1a7bf9b44811b4

Please vote to elect me to the position of Chief Of Liquidity Operations by voting for this personal compensation custodial grant:

Address: ShrB92Q61TiL9ZaQXZQCMB2qszYKqTMkGU
Amount: 3,000,000

Please also vote to create some NSR I have the key to for use in Liquidity Operations as shareholder owned NSR:

Address: SUrJhmYVeNThoG6oFWjY9pMawRJ3iCTHCq
Amount: 20,000,000

[GreatScott]

In the last 8 hours or so the NuShare price has declined quite from its dizzying heights of nearly 600 satoshis. If we had acted earlier, we could have secured a better price for shareholders, but didn’t happen, because I am not Chief of Liquidity Operations yet.

What were you going to prop the NSR price up with all the NSR you want total unfettered control of? Sell it to yourself?

Please respond to the calls for transparency instead of packing it up and moving to a new thread.

[mhps]

No one seems to know whether the other signers will sign the transfer at this point. Nobody can say with any certainty what will occur in liquidity operations in the coming hours and days. I don’t know myself, even though I have presented a very clear vision of what should happen.

Blame architect @JordanLee who masterminded FLOT without attempting to put a timeliness requirement:

Tier 4 Fund Management Discussion

I propose that 4 of 7 multisig addresses for NBT, NSR and BTC should be jointly managed by seven community members, known as the First Liquidity Operations Team, or FLOT.

Shareholders should elect individuals to FLOT via motion, with one motion for each signer. If 7 signers are not elected, then 4 of 6 or 3 of 5 multisig will be used. So, the first step will be to elect individual signers. Someone wishing to be a member of FLOT should advance a motion similar to this:

Begin motion@satoshi shall be one of the members of the First Liquidity Operations Team. @satoshi can be reached via Bitmessage to coordinate signing at BM-2cTWuSKmRZ2gb91A4rbZz5LKEPJxoKVSWy. @satoshi promises to be a part of FLOT for at least one year and to abide by all shareholder motions governing the use of funds. @satoshi will be available for signing at least 5 days a week and 45 weeks a year. No monetary is compensation is required.End motion

Right at the beginning of FLOT formation, when asked

How often online to access the web and ssh is needed?

@JordanLee answered (emphasis by me)

Tier 4 Fund Management Discussion

While I can’t predict how often action will need to be taken, it is likely to be between once a week and once a month. After doing it a couple times, I think signers will find the process easy and comfortable.

So it was understood that FLOT is expected to react in a-few-days time frame. It was not designed to be a daily operations mechanism. Most FLOT members promised 48hr guaranteed time and get accepted. They out-performed their promises.

@Phoenix should hang around a bit and learn the development history of Nu liquidity provision or it is easy to make mistakes.

[crypto_coiner]

So it was understood that FLOT is expected to react in a-few-days time frame. It was not designed to be a daily operations mechanism. Most FLOT members promised 48hr guaranteed time and get accepted. They out-performed their promises.

very good points