Hello everyone. My NuBurn white paper is here:
This paper proposes a solution to the problems of NuBits and NuShares inflation by the introduction a dual-sided coin destruction mechanism known as NuBurn.
During times where NuBits price diverged from $1.00, the NuBits protocol would temporarily allow a one direction exchange of NuBits for NuShares, or vice versa, directly within the NuBits client. NuBits or NuShares would be destroyed by sending them to a dummy address within the NuBits client software. The dummy addresses would be randomly generated, but they would have no private keys associated with them. The values held at the dummy addresses would be viewable by the NuBits network, but they could never be spent. The exchange rate would be set dynamically, and automatically, by the NuBits protocol by polling the average NuBits price on the remote exchanges (e.g. Bter), via exchange APIs. The direction of the allowed transfer would depend on whether the price of NuBits needed to be raised or lowered. The protocol would also limit the percentage of one’s wallet that he or she could exchange at one time. This would help to prevent systematic abuse.
Keywords: binary self-stabilizing system, crypto-currency, NuBits, NuShares, NuBurn, coin destruction