Park Rate Voting

[mhps]

Start voting for park rates already. I’m at 1%, just to kick it off the ground. I may raise as high as 5% depending on the response of nubit owners to park rates.

Before the comprehensive liquidity motion is approved, what do we do now given that the reserve is still in the red (after increase of reserve requirement)?

[Nagalim]

what do we do now

We don’t need the motion to do what we should be doing right now: setting park rates. The only issue is that once we activate park rates we only have 30 days before mandatory dilutions begin under current NuLaw. Still, I don’t believe that we should live in fear of that motion, we should set park rates and maybe put some pressure on shareholders to talk about that motion.

[Nagalim]

Wake up! Our reserves are emptying, standard is farrrrr in the negative. Either set reasonable park rates or we will be forced to unneccessarily dilute.

Every indicator screams for park rates. What are shareholders doing?

[Sentinelrv]

Every indicator screams for park rates.

Is it possible our data feed providers don’t completely understand the model you’ve proposed in your new drafts and motions relating to the standard, along with the math included? If so, they may not realize the indicators you see that would show park rates need to be raised. Maybe you should confirm with them that they understand it fully and if not help explain it more until they do.

[masterOfDisaster]

Even without math it’s quite simple to answer the question: do you prefer parking interest or NSR sale to support the peg?
If there’s no support for raising the park rates, NSR sale needs to be done.
Simple as that.

[JordanLee]

Wake up! Our reserves are emptying, standard is farrrrr in the negative. Either set reasonable park rates or we will be forced to unneccessarily dilute.

Every indicator screams for park rates. What are shareholders doing?

As I understand it, the framework set up via shareholder motions which is summarised in the NSR buyback calculation script does indeed suggest there shouldn’t be any controversy about setting park rates now.

Yet, votes to raise park rates above zero for a 3 month term have dropped in recent days from around 26% to 16% now. I don’t know why it is moving that direction.

We have provided park rates on multiple occasions in the past. They have always returned to zero. I get the impression some shareholders are reluctant to provide park rates because it suggests we are not growing at the moment. That’s true, and such periods were always expected as normal fluctuations in demand.

We should make small adjustments before larger, less orderly adjustments become necessary.

I believe the main reason for our lack of growth in recent weeks is the low volatility of Bitcoin in that time period. That won’t last, and there is reason to think we will see more adoption once Bitcoin becomes volatile again, as it always has in the past. The odds of Bitcoin remaining stable for even two months is low.

Another important factor is that NuBits in the B&C Exchange development fund are being spent more quickly now, at a rate of 25,000 or 30,000 NBT per month. This is sure to be a temporary factor.

[masterOfDisaster]

votes to raise park rates above zero for a 3 month term have dropped in recent days from around 26% to 16% now.

Please remind me, is there a majority in favour of parking interest required to move them above 0%?
I understand that a kind of weighted average for calculating the parking interest could be exploited, but how exactly are parking rates calculated?

I don’t know why it is moving that direction

I can’t tell either. The only assumption I can make is that shareholders prefer NSR sale to remove NBT permanently from the market to raising park rates first to remove them temporarily (while creating even more NBT that might need to removed from the market).

[JordanLee]

how exactly are parking rates calculated?

the median vote for each duration (such as 3 months) over the last 2000 blocks is applied.

[masterOfDisaster]

Oh - what if somebody with, say 10% of the minting shares votes for 10000% annual interest for a 3 month period while the rest vote for 0%.
Does that lead to 1000% annual interest for a parking duration of 3 months?

[JordanLee]

Oh - what if somebody with, say 10% of the minting shares votes for 10000% annual interest for a 3 month period while the rest vote for 0%.
Does that lead to 1000% annual interest for a parking duration of 3 months?

No.

The protocol does not use an average of votes, it uses the median vote. This has the desired effect of excluding extreme values such as the one you used in your example.

[masterOfDisaster]

Thank you!
It looks like I need some education on park rates at Nu as there weren’t many occasions to learn about it so far.

[cryptog]

I think we need remove for a few weeks (months?) 20% of the sell side to rebalance.
I do not think there is a clear connection with parking rate and surplus rate that we want to remove.
Maybe with 20% annual parking rate for 3months, 20% of the sell side will be parked for 3 months.
So i am gonna apply 20% annual rate for 3 months.

[Nagalim]

So i am gonna apply 20% annual rate for 3 months.

Why not try something moderate like 1% and see what happens.

[cryptog]

1% and see what happens.

1% annualized?

[henry]

Parking, by which people could earning interests, is a unique feature of NuBits in comparison with other cyptocoins. It will be an advertisement for Nu.

Actually, we think we still would offer parking rate above 0, like 1-2% annualy, even in the situation we have high NuBits demand.

[Cybnate]

Every indicator screams for park rates. What are shareholders doing?

I recognise that:

• the combination of decreased funding for liquidity resulting in less NBT funds on exchange.
• the ongoing release of NBT for developer payments and current and passed grants
• the limited demand to save or use NuBits outside regular exchanges is staying behind.

I will add 10% for 3 months and 5% for 1.5 months in my datafeed to start with. I hope this and further investments in increasing the demand of NuBits like NuDroid will counteract the negative trend we appear to be in.

[crypto_coiner]

I actually have some NBTs sitting in my wallet and I was just thinking about what to do about them –
Will park them:)

[tomjoad]

I have increased my parking rates to above 10% for durations up to three months.

[crypto_coiner]

The NuBits wallet Park Dialog shows currently no current rates

[masterOfDisaster]

It takes some time for the park rates to rise:

the median vote for each duration (such as 3 months) over the last 2000 blocks is applied.