NuBits adoption rate is solid but slow: most of the subscribers to this forum are peercoin community members, shareholders, or people in contact with shareholders. While we aim at organic growth rather than explosive growth to accommodate a proper infrastructure to emerge, we cannot afford to be stagnant.
I propose we use parking rate interest as a promotional instrument.
I have the feeling that ‘Parking’ feature of NuBits, it is something that the crypto community has desperately needed for some time. We built an amazing tool that can serve a huge variety of purposes, even without a premium on the parked amount. Most people seems not to realise it, and they are very skeptical when they read the word nubits. I want to see the community constantly growing with new people, ideas, and proposals.
To attract new people we need to make three things : focus on the keeping the peg, target specific use cases and niches that need a 1$ coin, attract talents and techies to try out NuBits and spark their curiosity. At the same time, until you download the client and try to park, you are very unlikely to perceive how easy it is and how many things you can build on top of it.
We must offer a premium on parking rates to convince people to take the leap and try out our client. Even if they don’t (think they) need a 1$ coin.
Here is my proposal and this is what I am casting right now :
I propose that we all vote for a 5 APR for all durations. Starting with a 2.8 days duration.
Its even very easy to advertise : “Park Nubits, get a 5% APR” , instead that show crazy curves
Since the interface use APR as unit for park rates, this will result into a fair compensation which is directly proportional to the length of the duration :
2.8 days premium : 0.013% (not even worth the tx fee of 0.01 probably) ... 2.5 months premium : 1.25 % 5 months premium : 2.5% 1 year premium : 5% 2 years premium : 10% ...
A short duration is needed : online attention spans from 3 seconds to a couple of minutes for very interesting stuff. I don’t expect anybody (slightly curious) to download the client, and try parking if the minimum duration is one month.
Inflation does not worry me at all now, we have an incoming grant of 4 MIL nubits, so the introduction of some hundreds nubits next year when people unparks, is not of any concern. Worst case scenario : let’s say we already have a Nuwhale with 200,000 nubits in the wallet (I doubt we are anywhere near), and she decides to park for two : in 2017, new 20’000 nubits will be created in the hands of this lucky whale. I expect that in 2017 NuNet will be able to handle much more than that. So, no problem.
sidenote: From now on, unless exceptional cases apply, I will always cast the same vote for all durations, until we change from APR to period-rate. I even wonder if its wort giving this an an option in the client
EDIT1: submitted idea
EDIT2: use this spreadsheet to make your own linear rate math