So we all know the situation Nu is in at the moment and the dire need to raise funds to defend whatever is left of the peg. We also know that pretty much all funds raised for B&C Exchange development are stored in Nubits hence we BKS holders have a huge interest in making sure Nu stays solvable. I propose we dilute BKS by about 5000-10000 BKS (~2.6-5.2% dilution) through a motion grant and use these BKS in a blind auction at which we sell them for 5 or 6$ minimum to the highest bidders (with a minimum of at least 50 BKS to be bought per bidder). We then use these funds to buy NuShares at a pre-established price (I suggest 100 satoshi’s) from Nu. Nu can then use these funds to defend the peg and get liquidity going again.
The bought NSR will be held in a newly formed multisig group of BKS shareholders. If all goes well we will have contributed to keeping Nu solvent (and thereby also saving our development funds from Nu default) and have bought a lot of NSR at a favorable price. Later we can distribute these NSR to BKS holders as dividend. The added benefit of this if NuShare price returns to previous stable levels (500-600 statoshi), BKS holders can look forward to a nice return on their investment. I would call this plan a high risk – high reward plan. I am writing up a plan how to move Nu forward for the coming weeks in conjunction with this plan.