As my involvement with Nu increases, the need to dive into the system to extract data and insights has became more difficult and time consuming than ever. We desperately need a way to view Nu as a whole and track it’s changes, we need a way of monitoring Nu.
Decentralization
Being a decentralized company/organization we rely on each member/shareholder to do an independent verification and evaluation of each event in Nu; motions, grants, proposals, payments, liquidity, income allocation, etc.
We rely on some members to do some of the work, like JordanLee, FLOT, NSR buyback, because we assume that if something goes wrong someone will raise an alert, as we can’t all control everything at the same time. And I think that is working, but the risk is there, and we all agree it may eventually create situations we don’t like to be in. The response to that concern is always the same, decentralization, which reduces the risk but at the same time multiplies monitoring required. And that is part of what this utility is aiming to solve.
A blockchain achieves to be decentralized by a constant strict monitoring, while decentralized Nu is much more than a blockchain, and we still don’t have a way to easily, independently and accurately monitor the rest of it.
Decision making
Whenever a new proposal is created there are lots of opinions, new ideas, suggestions, but we don’t have other option than to apply it to our current understanding of Nu and evaluate the change in our own way. Then a new idea seems to make sense, and we are back carefully considering it again.
This takes a lot of time and effort by each member and we don’t have an easy way to efficiently estimate the result of the change in the whole system. Even when we have intellectually considered the change, it is very difficult to share that perspective with others, and adapt that view to the latest events. This is the second part this utility is aiming to help.
As we have all the data to measure the global status of Nu as explained in the first section, this utility will also allow to efficiently measure the impact of the changes, take better informed decisions and let all members understand the proposals easily and faster.
The proposed solution
I offer Nu the creation of a trustless system that anyone can run in any device with a browser, that would instantly give the user a global view of Nu, which checks motions are being fulfilled and shows real metrics anyone can understand. Something each of us can trust in the same way we trust our own blockchain node.
This application will be open sourced. No licensing will have to be paid for its use.
Nu pays for it, Nu have the rights to it.
The utility will be able to show, among others:
- Nu liquidity info: Nu liquidity info will be fetch from a local node or a trusted one.
- Exchange liquidity info: directly from the exchanges. The utility will fetch liquidity data directly from each exchange, so the information will be totally independent.
- Nu action thresholds: Buyback level, NBT introduction level, circulating NBT, transaction volume, fees… All of this taking into account the independent liquidity data, and stating clear thresholds about, for example, when the 40% liquidity threshold is reached without the choice of doubt.
- Price: NBT price, NSR price, NSR to NBT marketcap, T4 value, network demand, fee income, park rate expenses.
- Motions: view motions and grants pending with more than 5% and passed. Motion verification (hashing) inside the utility.
- History: The user will be able to go back and revise all the past data shown by the application. The application will collect data while it is running, and the user have the option to fetch data from other trusted instances, being able to cover offline periods. For example it is not feasible to run this utility 24x7 in a phone. The user will be able to view the data from his desktop instance in his phone.
I know this is not an exhaustive list of the features, but I hope it transmits the idea. My goal is to do something as similar as possible in usage to Cointoolkit, where you have all the choices you need for get that global view of Nu.
I estimate this will help a wide range of Nu concerns like liquidity operations, proposals, income allocation, NSR buybacks, accounting, etc.
There will likely be some motions that change the way Nu works, so updates to the utility will need to be made. Nu will not be forced to work with any single entity to make those changes. Shareholders will be free to choose the provider they find trustworthy.
Consequently, I, the initial developer, is not a single point of failure for the utility.
I was rejected at the “Undistributed NuShares” initial NSR sale (at that point I could not prove “skills that will be helpful to the advancement of the network” because I didn’t have online presence as ttutdxh) so I don’t own a moderate amount of NSR.
I would like to increase my involvement in Nu, but I know some members (including me) don’t like NSR payments because of the share dilution. Therefore I would like to ask for compensation in form of a NBT/BTC payment so I can buy NSR in the open market and not dilute NSR ownership. I think buying not wanted NSR in the open market helps everyone involved in Nu, much like a buyback, taking NSR out of speculator’s hands, and it would be an added benefit to my current shares.
I would love to hear opinions, to know if anyone wants to see something specific, what members like and what they don’t before creating the final motion.
next to what would be redundant in terms of information provided by this service and the Nu-data-service and a 
next to items that are not planned.