Here are the park period percentages if APR was set to 75% for all durations…
5.7 Days per Park Period = 1.17% <-----> 64 Park Periods per Year = 75% APR
11.4 Days per Park Period = 2.34% <------> 32 Park Periods per Year = 75% APR
22.8 Days per Park Period = 4.69% <------> 16 Park Periods per Year = 75% APR
45.5 Days per Park Period = 9.37% <------> 8 Park Periods per Year = 75% APR
91.0 Days per Park Period = 18.75% <------> 4 Park Periods per Year = 75% APR
Do you believe APR should be removed from the https://www.parkingyournubits.rocks/ calculator, so that it only uses the single park period percentages? That is a marketing website for parking rates and earnings, but I’m not sure if it should be removed entirely or if it has some use for people. We just don’t want those high numbers scaring people away if they’re visible on websites like this.
The unique NBT/USD peg on SouthXchange is NOT broken. Fiat can exchange with Nubits at 0 spread. This solves the not-getting-my-type-of-currency problem above. Maybe we should advertize parking where fiat is (especially paypal)
Not saying they will prefer that under these circumstances. Just advocating that longer park durations should have higher rates to offset exactly the risks he is describing. As NSR holder I’m trying to sell something Agree that the current situation is not very inviting to invest large amounts. But some people might be willing to bet when we accompany this with a clear plan going forward and a good quality peg (<=1% SAF) maintained. One way to do that is to commit a portion of the remaining reserve (e.g. 50%) to a peg to a fiat pair. Either NBT/Tether or maybe just the NBT/USD pair on Southexchange to make that statement. That will provide some certainties that people can redeem NBT later.
It’s is an unfortunate coincidence to have CCEDK off-line till the end of the month. I believe that would have mitigated the situation somewhat by moving reserves to the fiat pairs and show a more sustainable peg then the NBT/BTC pair.
I’m with you for the short term. I think I will keep the 3 month and 6 month park rates as there is still a lot of sell side.
Of course we can only pay for it if we have found a way to make profit, but that is the whole point. We don’t know that yet and have to keep those NBT away from the sell side. It is unfortunate that we can’t cap it though, that would help to cap the costs.
I am still voting for more than 30% up to 3 months but since the peg has been totally hammered, the effectiveness of parking has been too.
However there must be still some speculators speculating on the recoverof the peg and therefore trying to get some interests in the future so nullifying the rates would not be good.
But what is a good percentage under current circumstances ?
Park rates inevitably result in the issuance of additional NuBits, so they are prohibited until the peg is restored, as I see it. I wish I had specifically mentioned them in the motion for clarity, however.
I will likely recommend park rates at the time we begin to solidify the peg at $1.00.