NuBits on ethereum

[Sebsebzen]

Just wondering, with all the interest for crowdfunding ethereum projects (e.g. the DAO), why not consider to make NuShares compatible with the DAO framework and open another round of funding?

This could have two advantages:

1. Raise capital for futher development
2. Increase exposure to the ethereum community

Or another idea, NuLagoon, etc. why not incorporate ETH into that? Deposit ethereum and get interest?

[Nagalim]

How do you imagine this working? Either we issue nbt on the eth blockchain or we issue it on ours. We have a blockchain already.

[Sebsebzen]

Sorry, I was on a run so didn’t have much time to formulate my thoughts.

I’m just trying to think about ways how to better integrate NuBits in the ethereum economy.

I don’t think there is a need to change the blockchain. It’s more about marketing NuShares in the right way.

NuShares are technically a DAO and there is a lot of potential funding for such, but so far no good projects as far as I can see.

One idea could be for example a second crowdsale of NuShares, but denominated in ETH. That way, fresh capital would come to the project and the buyers can exert their voting rights and push for more integration into ETH.

Lot’s of ethereum projects don’t work without a stablecoin. That is an argument to deliver to potential supporters. I see a lot of opportunity for NuShares, but it needs to be communicated in the right way towards the ethereum crowd.

Or how difficult would it be to add ETH to the NuDroid wallet?

[Nagalim]

Ah, ok, so you want to sell nsr for eth. What do we do with the eth? Maybe we could make an auxiliary reserve like ppc and just fill it up with eth from nsr sales. Then, when our btc reserve starts waning we can draw on eth instead of selling more nsr. Once we have an eth reserve we can act on the etherium blockchain, I believe, if we want to do some kind of super complex smart contract as a DAC.

We’d need to figure out eth multisig.

[ChrisS]

Negative. The evaluation of ethereum could prove to be ephemeral, like previous crypto endeavors. I think it only makes sense to wait a couple years to evaluate the stability of such a project. The timeline is to short, doing so would be jumping on the bandwagon. We aim for the steady train.

[Cybnate]

Once we have an eth reserve we can act on the etherium blockchain, I believe, if we want to do some kind of super complex smart contract as a DAC.

Similar thoughts; The only reason I can think of is to create some NuBits funds on the Ethereum chain to fund some contracts between Nu DAO/DAC and custodians. It is probably a bit early days although it could be an interesting marketing opportunity to create just a showcase contract.