And before I say anymore, it should be clarified that parking rates are a mechanism included in NuBits to handle short-term declines in demand. They are not an admission of failure.
Nu is in a position right now where we have had multiple exchange hackings that have crippled shareholder-provided liquidity, and we have not yet reached a point where individual LPCs or group LPCs have formed. We also have not yet reached open-source status, where it would be expected system-wide demand for NuBits would increase with our addition on larger exchanges. We’ve seen how important our exchange network is to NBT demand with the low volume in the wake of BTER and Exco.in disappearing.
We should have a discussion on what interest rates should be voted for. I am personally voting for 5% interest rates up to 1 year durations, and 15% interest rates beyond that. I have confidence in the design of NuBits but there is a small chance of peg failure if we don’t take action as a group of shareholders to tide over this short-term demand problem. Parking rates were included in the design for a reason: now is the perfect time to use them.