Here is a first draft of a motion that is intended to compete with Jordan’s motion and the current status-quo. I’m sure there are some items which needs discussion as I just wrote this down quickly lacking proper time. I won’t be able to reply in next 20h or so, but will read your comments. If this proposal is deemed a viable alternative for either Jordan’s proposal or “doing nothing” I will submit it for voting in next 24h.
https://daology.org/u/cybnate/proposals/f1cb1de6279335fb296382b30e2e6a63a4b87943
The key difference with Jordan’s motions is to first sell a more significant amount of NSR and with that strengthen the peg within a spread of 1% for 80% of the available reserves available at that time.
This plan should provide confidence to potential NSR holders that the peg will be restored and that there is a good chance we will succeed.
This motion also maintains the current liquidity providers assuming they comply with the motion when in place. FLOT members and gateway providers who are not able or willing to comply with this motion are asked to step back when this motion passes.
It also provides an alternative to the status quo which currently doesn’t provide a clear plan and timeline. At the moment only a slow death or a slow recovery is possible in my opinion. Both are not great and I think something bolder is required. Jus be aware that my proposal could speed up both possible scenarios, although I believe there is good chance to restore confidence and the peg (see risks in proposal) while retaining the support of the current community and hopefully attracting some new blood going forward. I think we should prepare to bet on it.
No risk, no opportunities.
