FLOT NSR Operations (buy side)

Where is the NSR fund now?

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FLOT NSR Multisig #1 contains 22,600,006 NSR.
2,400,000 NSR was sent to @masterOfDisaster.

  1. Will the entire or enough of FLOT NSR sign transactions for selling NuShares? Otherwise we’ll have to plan accordingly.
  2. How much should be sold at which price and how rapidly? I have no idea myself unfortunately, so people will need to suggest something.
  3. Who can sell the NuShares? I’m willing to put the orders on the books assuming I get directives. Do I need a separate Poloniex account that I link to my personal one? An alternative is holding an auction, but I don’t know how.

@Dhume @ttutdxh @cryptog @mhps @masterOfDisaster

These are not fun times. We need you all.

i can sign. but i will be traveling starting ~12 hr from now. Can @tomjoad help selling nsr as he has account that can withdraw mre than 2000usd a day

sell $2000 a day is pretty good according to my suggested plan.

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I am ok with 2k per day.

How do I create an account linked to my primary one on Poloniex?

Okay, that’s super easy.

  1. Have an account.
  2. Create new account.
  3. Login to desired primary account.
  4. https://poloniex.com/linkedAccounts
  5. Enter credentials of new account.

Brilliant. I’m not getting the confirmation email. Contacted support.

Unless a motion is passed or a very convincing argument is made I will proceed with NuShare sales when I can assuming FLOT NSR trusts me and doesn’t decline by discretion.

There are some alternative approaches posted.

It would be great if you would be willing to be the auctioneer jooize! What do you think of my proposal of setting a minimum price as I outlined in my proposal?

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That does seem like a good idea! I have to sleep now. I’ll read up and understand it fully tomorrow. Hopefully, Poloniex will have processed my support ticket by then as well.


@jooize, it is important that you know NSR auction is better hold on NBT or on both NBT and BTC. If there is not a NSR/NBT exchange, you have to do it manually.

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No response from Poloniex … Sent another message asking them to confirm the account manually.

I would really rather not mix the accounting.

@jooize, what is your plan of selling NSR?

Why: It’s expected according to the tier model until shareholders pass a motion or maybe if FLOT (NSR?*) may invoke discretion somehow.
How: According to FLOT (NSR) or motion.

* Uncertain whether it would be the whole FLOT or only NuShare division.

I think the simplest way is getting a latest 24hr average price (eyeballing it is ok) and putting a wall of 0.5N there and 0.5N at price*1.1, where N is the number of shares to sell.

Are u going to operate a NSR/NBT auction or not? That is most needed in current situation.

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An NSR/NBT auction is indeed more important than an NSR sale at an exchange in the NSR/BTC pair.
The BTC from NSR/BTC won’t help you restore the peg.
The NBT from NSR/NBT auction will reduce liability; a debt-equity swap is important.

henry, you are involved in Nulagoon, right?
Can you offer NSR for NBT at a given rate? Like Nulagoon Tube, but one-way and at a rate determined by Nu and no price feed.

I don’t know if Nu can trust you with that, but at least you have the infrastructure ready and have an interest in keeping Nu alive.

Since there isn’t a NSR/NBT pair on Poloniex, which manual steps would be required for that? Any other exchange that makes sense to trade on?

Anyone else is very welcome to do this instead of me. I want quite detailed instructions and to avoid much thinking on my part. It feels too much to manage manual trades off exchange, but if there’s a market I’m not impossible.

Either let people email you with bids then make the trade with the highest bid(s), called blind auction, or use my auction software.

@Nagalim can you hold such an auction with your own software?