Park Rate Voting


#532

I agree with you reasoning and like it - under unstressed conditions.
As it stands with the 5% spread - there’s no break even guarantee.
That is why I called for 75%.

75% APR is 6.25% per month. Which will just make a little profit after spread.


#533

Fine. It is jsut changing the “half” factor to something higher, in the same frame work.


#534

Yes. Sorry - I was not as eloquent, nor did I explain myself as well as you. :slight_smile:


#535

75% is the APR, which isn’t actually what Nu will be paying out at the end of the park period. The actual percentage a parker would earn is much smaller than this. The percentages per park period are the rates we should be using for advertising, not APR, which looks scary to the average person. I explained this all here. Please check it out…


#536

We need both talkers and doers. :wink:


#537

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


#538

Yes, APR should be a term that we use internally, not for marketing purpose


#539

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.


#540

If people dont actually park for a 1y period, I believe it is a noisy info.


#541

Sorry I guess I run in the world of finance too much where APR is just a term that I assume others understand.


#542

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)


#543

I agree it is working at SX. As is the paypal withdrawal. But you do pay 5% fee.


#544

Ouch.


#545

Exactly. So - in case of emergencies…it is acceptable.
That’s why I proposed the Tether gateway for Nu. Again - in better times.

And what’s up with the rate? Still hanging at 22%.
Come on Nu people. Restore BTC buys and park rates need to go hand in hand.


#546

Right. @Cybnate are you still believing people will prefer longer rates after seeing Clayton’s reply here?


#547

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 :slight_smile: 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.


#548

We are getting only 17 30 30 33 8 % for 11days to 6 month periods.
I am voting for 30 50 60 60 for 11days to 3 months.
We need to increase more.


#549

I have seen the light! This will destroy us in the long run. It just increases Nu’s liability, which we can’t pay off now. We need to reduce our liability - reduce NBT and keep our BTC.

I’ve made a motion:

I am voting for 0% park rates as soon as I get to my wallet.


#550

https://www.parkingyournubits.rocks/parkinglot/

Total due: 6061.9027 (103 TX)


#551

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.