My view of the current situation

I think we should:

  • Aim at buying back ever nbt put into sell for 1 usd
  • Find ways to peg to the USD
  • Find other markets than the hedging market and revenues models
  • Build up enough reserve to continue funding Nu and BCE development.
  • Develop liquidity for NBT/NSR

So far we have been hit hard by the peg failure but the good thing is that it drew some attention to us, first of all.

Also, it gives us the opportunity to rethink,

  • about what true decentralizedness is:
    Shareholders should not think that they must rely on a single individual to take decision: the disappearance of JL and the appearance of Phoenix should show that it is dangerous to do so.

  • about the fact that we cannot continue to provide liquidity to hedgers for free, as our sole activity. Doing so was good to show our peg to the world, as a marketing campaign but it cost us a lot of money.

We must dilute in any case up to a certain extent, which is good for 2 things:
Getting new shareholders on board
Developing a liquid NSR/NBT market, hopefully.

This is a hard moment for Nu, the hardest so far, but there are actually very good opportunities in it if we are able to pinpoint our problems and pivot quickly.

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I agree with all the above-mentionned suggestions.

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The ideas are there, the execution is lacking. That is the major flaw of a decentralised model. It doesn’t work well during a crises. I posted my thoughts here: Transferring all Nu assets to B&C? - Liquidating or ‘archiving’ or mini-Nu?

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