Thank you for your friendly words.
I admire @Nagalim for all the contributions, thoughts, motions he made for the Nu network.
There are a lot more, who contribute. Trying to name all, would be unfair, because Iâm sure Iâd forget some. The work of @Nagalim, @mhps, @ttutdxh, @Cybnate and those, who produce visible results, might be more obvious than that of others who still make valuable contributions.
It might be hard to agree on a payment, because neither @Nagalim nor me are having contracts beyond those related to liquidity provision.
Yet we try to improve, harden, continue the operation of the Nu network as good as we can.
You donât even know whether any of the contributor is shareholder or just spending efforts, because he/she believes that Nu can make the world a better place!
âŠhonoring their contributions, caring for those efforts would suit an organization that truly tries to make the world a better place, although itâs convenient to receive performance for free.
We still donât have an overview of development expenses, althought that was announced by @JordanLee.
At the moment we have more urgent matters, that need to be taken care of.
I often have the feeling that Iâm tilting windmills and I bet Iâm not alone with that feeling; I might be one who talks about it more than others.
This is even worse than not getting paid.
Weâll see what happens, when Nu is on the way to recovery - will shareholders learn from the situation and listen to those who have a good understanding of it?
Buybacks needs to be put on hold.
The reserve needs to be increased (to a much bigger percentage, including a floor level) and improved (more diversification, more USD and USD equivalents like NuSafe).
We can be glad that this happened, before additional products were released - we can do better right from the start when planning their introduction.
I wonder whether shareholders want that. I say they should want that, if they want to act responsibly.
The next weeks and months will be interesting and set the course for me to continue here or not.
The risks of an enormous spread between buybacks and sales due to the low liquidity of the NSR market have been named numerous times and the risk of NSR rate being pushed down very far, if Nu needs to sell NSR in dire situations has been named as well.
NSR holders who sold their shares made a good deal, though.
They can buy back cheap now.
With a low reserve this can be performed as an attack. That has been explained before.
In the face of the current situation, we should try to remember it.
Increasing the reserve (and its reliability) is of paramount importance, if Nu wants to be safe from relatively cheap attacks and wants to recover confidence from customers.
By saying ârelatively cheap attacksâ I mean, that you can execute an attack that drains the reserve of Nu and brings Nu in emergency mode with âonlyâ the total volume of buyside (T1-T4). Thatâs not much compared with the corporate value of Nu.
