Since March 12, NuShares have risen from $1.34 per voting block to $1.85, or 10 satoshis to 16 satoshis. It is a gentle and immature rally. At times in the past when we had less reserve, liquidity operations reacted to an NSR bull market with a substantial increase in the rate of NSR sales. I am writing this to make clear Liquidity Operations will not increase NSR sales beyond what our standard formula based on deviation from reserve equilibrium prescribes. Right now that is $228 worth of NSR daily. It changes every week, but only slightly, and usually the daily sale amount goes down. Even if NSR jumps up to 100 satoshis, liquidity operations will not introduce additional NSR into circulation as a reaction to an NSR rally. In fact, it is certain that we will bring less NSR into circulation in reaction to a rally, because we won’t need to sell as many NSR to meet our daily sale amount, which is measured in USD. Increased sales are not necessary at this point because we are so close to reserve equilibrium and NSR buybacks.
May the rally proceed unimpeded!
A good NSR rally is what we need to fund stepped up marketing and value building initiatives like an integration of CryptoNote (aka Monero) privacy technology. So to people considering making NSR purchases now, if there is enough increase in the price, we can fund extra efforts to bring value that are intended to inflate the NSR price even more with additional currency sales.