This has been identified as well as ways to get there.
But it’s hard to get it done, because Nu is bankrupt.
With what funds would you purge Jordan from the network?
You need a hard fork, need to advertise it, need to get exchanges on your side.
That requires money and that’s exactly what’s lacking.
Nu’s wealth has been spent mostly on liquidity operations.
Maybe a new experiment that incorporates lessons learned is better than starting the battle with a hard fork that tries to continue Nu.
I wouldn’t say the community isn’t serious about it.
But from some of the angry comments I gather that a lot of the community feels betrayed.
Most appear to have resigned instead of fighting for a lost cause. Just look at the forum activity.
The community is important, if eliminating evil actors is to be attempted.
But the shareholders are important as well.
After all it’s their business.
These groups aren’t necessarily congruent.
I’d be happy to see a new experiment to provide a stable currency where all the helpful, diligent community members are the shareholders of that DAC.
I only have a few recommendations to improve the business processes by far compared to Nu:
- Make revenue by spread trading
- sell for an uplift, buy back at the “pegged price”
- let arbitrage traders fill the gaps
- keep the received funds in a way that’s stable related to the pegged asset; like NuSafe
- Elect a board of directors, who
- will be paid
- are responsibe
- are accountable
- are able to make decisions
- provide reports
- are supervised by shareholders
- Don’t try to store proceeds from sold assets in corporate shares
- only revenue may be eligible for that
- dividends (possibly paid as pegged asset) are superior for distributing revenue
There might be more recommendations, but off the top of my head that’s what in my opinion at least needs to be improved.
