Any thing we can steal for NuBits
Im very interested in how they manage the price feed for the peg to sdr.
It appears to me that they automate or in their language ‘contract’ a lot of things we still do manually. Not that it is a bad thing in these early days of discovery and learning how to hold a peg but we need to find a way to be able to automate too when the rules are becoming more clear, which I think we are nearing. Lacking automation will get in the way of scaling up or balloon costs.
Re SDR datafeed, maybe we need to build a crowd sourcing datafeed where a number of people are incentivized to vote for the actual feed values every day after the official feed is updated.
Or just skim this page: https://www.imf.org/external/np/fin/data/rms_five.aspx. They also publish a rates file which can be used to source a feed.
I agree. As a casual observer and small investor, it seems that it takes a lot of hard work from a lot of people to keep Nubits/Nushares running. As much of it should be automated as possible to keep expenses down and increase the likelihood that the peg will be held for as long as possible- even perhaps when some have given up. When a cryptocurrency enters a long downturn in value, it can be hard to find people willing to work for its success. I see automating as many of the procedures as possible as preparing for such a situation (in case it ever occurs).
I highly recommend to read the linked article in this post: