FLOT NSR Operations (buy side)

Erm, well… 4.7 USD in BTC is not what I consider “funds left” in this context.
But you are right in the way that it’s not 0…

They are 4.7 BTC!

I’d rather see an NSR sale and higher park rates before we use up the remaining BTC. I also prefer that NuLagoon put some BTC on Polo rather than the Tube during this time, at a high enough spread (like 1%).

There is a motion up for voting that would make consensus around nsr sales. We have also instituted park rates, which will trigger an nsr sale in a few weeks if that mentioned motion is not passed. FLOT shouldnt have to think too hard about when to sell nsr. When to sell the NuSafe contract is another question.


I misinterpreted that output.
Should’ve looked in the broadcast liquidity…

Nusafe should be used when BTC price crashes, or when BTC in T4 runs dry.
Parking should be used before NSR sales.

That is what I think.


I agree. I think we should first use parking rates before selling nsr. By buying time, we may get through a temporary nubits demand slump to reach a point where we have a significant demand. That significant demand would make us sell a significant number of nubits, to replenish our btc reserves which would be way higher than the nubits we would have to pay as interest.

Ok, the BTC reserve is dwindling rapidly and the park rates don’t rise (not to speak of the parked NBT).
What now?
Wait until no BTC are left?
I get back to sleep in that case.
Wake me once the peg has been lost.

I have suggested effective park rates in the park rate thread.

Special run of the calculator:

Nushares buyback calculation as of Mon Apr 18 14:50:41 UTC 2016
"blocks" : 837172,
Total NBT = 1291595.1329

FSRT multisig
Balance of BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC is 0 NBT
FSRT singlesig
Balance of BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi is 151500 NBT
JordanLee singlesig
Balance of B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj is 150000 NBT
JordanLee singlesig from liquidity ops
Balance of BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP is 36553.054 NBT
FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 174918.2896 NBT

Total NBT in circulation is 778623.789300 NBT.

Tier 4 Funds

Tier 4 buy side funds controlled by FLOT
FLOT 5-of-8 multisig old
Balance of 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG is 0 BTC
FLOT 5-of-8 multisig new
Balance of 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe is 82.67297541 BTC
Tier 4 buy side funds controlled by JordanLee 59.8 BTC
NuSafe has $30000 for T4, but not included for buyback pool calculation.
FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0.89 PPC

bitfinex BTC mid price is 429.465 USD
btc-e PPC average price is 0.001 BTC

Tier 4 buy side funds total 142.472975 BTC, 0.890000 PPC, and $30000.000000, valued $91187.538608 (212.328219 BTC)

Of the 778623.789300 NBT in circulation, 15.00 percent (116793.568395 NBT) plus NuSafe are reserved and excluded from the share buyback calculation (341.805661 BTC).

212.328219 - 341.805661 = -129.477442 BTC in the share buyback pool.
The Standard is 5.00 percent of this, -6.4739 BTC (~ -2780.30 USD)

Pool is not positive. There will be no NSR buyback or PPC reserve filling next week.

We are $50k in the red.

1 Like

Thank you for your efforts!

So my gut was not that far off.
Even if we emptied NuSafe, we would still be $20k short.
The question should rather be how to sell NSR than when or how many.

What about inverting NSR buybacks and buying NSR at the market?
@Nagalim would you be available as executor?
Based on not yet passed motions we’re in an area in which selling $2.5k NBT were considered appropriate.

Or is doing a blind auction preferred?

Just one remark:

will change soon.
47 BTC are being transferred to NuLagoon Tube in exchange for approx. $20k in NBT.

I am standing by ready to jump in with Nusafe when needed, I do feel park rates should be the first option and I don’t understand why they haven’t been raised yet. If park rates fail to prove successful in increasing demand we should start selling NSR. Nusafe funds can be accessed on fairly short notice so I don’t feel we’re already at the “emergency” stage that warrants draining the funds without shareholder vote. However if there is a clear consensus for starting to drain funds now I would comply.

Edit: After the next tx is signed there should be about 35 BTC left in FLOT multisig and roughly 60 BTC held by Jordan + Nusafe right?

1 Like

Jordan has 60 BTC left next to FLOT and NuSafe.
Shareholders already vote - against increasing the park rate.

Oh, I didn’t know that when were those funds used? Is there a reason we’re not increasing park rates?


Thank you for correcting me.
I fixed my post.
I read the balance from the wrong line…

None that I’m awarw of.
My best guess is: NSR holders don’t follow or don’t care.

So 95 BTC + Nusafe left, that is way to low and the lowest we’ve been in like a year I think?

Are there just to many “inactive” shareholders to get park rates up? Might be time to start thinking of a direct emergency messaging system through the clients (we could use one for BKS aswell) to reach minters who don’t pay attention to the forum.

There are too many NSR holders that don’t visit the forum, don’t visit ALix, don’t look into the broadcast liquidity.
I have a solution that is similar to this one: [Draft] BKS grant to bring protocol 4.0 votes above 90% :wink:

It’s just too convenient to have people working for free, liquidity pool operators working cheaply and some FLOT members working for peanuts compared to taking responsibility…


Maybe we could do the decimation of shares (to make the numbers smaller) at the same time :wink:

Yes, this parking situation is absolutely unacceptable. The more I think about your BKS proposal, the more I think it would be a good idea to get rid of the dead weight. The same should happen with NSR if this continues to happen. There need to be severe consequences to shareholder passivity.

Putting the majority of Nu and B&C into the hands of people who are constantly minting and paying attention would significantly raise the security of both networks, not to mention voting and participation, while downgrading the negative effect that passive shareholders have on operations. One thing is for sure, Nu CANNOT run correctly if it isn’t in control of people who care and take action when needed.

1 Like

Those are consequences of underestimating influence of passive voting and Nagalim’s and creon’s efforts to address and solve the problem on time.

1 Like