[Passed] Interim Executor: @Nagalim

NuShares Motions
#1

Intro:
New executor required by January 18, 2016

Context:
There are lots of ideas being tossed around about how to solve the problem of NSR illiquidity. This motion explicitly does not attempt to do that, but instead provides a bandaid to give us time to solve that problem.

Favored Solution:
Using NSR bots built off of NuBot to do an automatic buyback (the withdrawal will still be manual) would allow many executors to form a buyback team. I’d be happy to help organize and stuff. Technically, we need some wrappers and price feeds for NuBot (plus potentially other stuff to automate it even more). This’ll require a little funding, and some time from the NuBot people.

Kicking the Can:
Theoretically, if others were willing to put up similar motions, Nu could kick the can from one interim to the next.

Motion RIPEMD160 hash: 33a5c90451764d2c5c1e6794e2c352d2423618e4

=##=##=##=##=##=## Motion hash starts with this line ##=##=##=##=##=##=

@Nagalim will take on all responsibilities as executor when @tomjoad ceases to be available. The intention will be to have a smooth transition to a more decentralized form of share buybacks. This service will end on April 4th.

If FLOT continues to send funds to @Nagalim after the 4th, @Nagalim will charge shareholders $175 for the first 4 week extension, then $200, then $400, and continuing to double from there.

=##=##=##=##=##=## Motion hash ends with this line ##=##=##=##=##=##=

Verify. Use everything between and including the <motionhash></motionhash> tags.
3 Likes
NSR Buyback #16 - Week of January 11, 2016
[suspended] Cryptog's Nu data feeds - BETA
[withdrawn] NSR buybacks Interim Executor - dysconnect
Supply, Reserves, and Equilibrium (superseded by automation)
[Discontinued] Cybnate's Nu datafeed - BETA
[suspended] Cryptog's Nu data feeds - BETA
#2

This proposal to have a transition to a more decentralized form of buybacks is very much appreciated.
@NSRBuyback has executed the buybacks very reliably. Although it might not take much time in total to manage the buybacks, it requires activity at certain points of time. It’s good to see a successor for that role who is known as reliable pool operator.

If I understand it correctly, all fees that stay in total below 200 NBT won’t be paid. If you can be replaced as executor with a different solution or a new executor while the accrued fees are below 200 NBT, you have basically worked for free, right?

#3

@masterOfDisaster yes. At 12 weeks, Nu will owe me 175 NBT. At 16 weeks, Nu will owe me another 200 NBT. At 20 weeks, another 400 NBT. At 24 weeks, another 800 NBT. At 28 weeks, another 1600 NBT…

Edit: I have edited the OP and this comment such that the free period lasts <12 weeks rather than 16. This means if Nu wants to for sure avoid a penalty, we need to pass an alternative motion or grant by April 4th, 2016.

#4

This would be $3,125 over 28 weeks, which at ~1 hour of work per week is over $100/hour. I won’t be voting for any proposal that requires compensation, because I think buybacks are a low-effort, low-skill activity. You take a couple seconds each day to update one purchase order, and then spend a couple seconds withdrawing funds at the end of the week to burn and post on the forum. I prefer no share buybacks over wasting shareholder funds.

4 Likes
#5

$3,175 total over 28 weeks, $6,375 over 32 weeks. It doubles every month. After 2 years it would be like a kajillion dollars. The point is that this is interim and provides motivation to shareholders to find a better solution. Would you rather I make a proposal that says “I’ll do 11 weeks for free but then I’m done”? Cause technically this is a strictly better deal for Nu than that.

1 Like
#6

Right. In the case of no alternative in week 11, the FLOT could just stop sending funds to @Nagalim and

would kick in.

I think having an interim executor is better than having none.
The pressure by the fee structure to look for (or develop) alternatives is helping the process.

1 Like
#7

I tend to agree, but still hoping on better offers in next week or so. My vote is on hold.

#8

Y’all have convinced me to make my deal worse. In a strange twist, I somehow think that will make it more supported.

@Tomjoad would you vote for it now?

#9

If your new motion text is intended to suggest that you will be conducting buybacks as a voluntary service for the network until April 4th, sure. You’ve built trust with the network and have shown motivation to improve the process.

1 Like
#10

Right, so make the deal worse and you’re all for it, got it. Politics man, sometimes I just don’t know…

Edit: I added on a clause. Note that this makes the proposal effectively the same as the original proposal. I really just think y’all must not understand for you to have the stance you’ve taken. The things @tomjoad and @Cybnate have said are just logically impertinent.

#11

I think changing the OP and the subsequent discussions confused me. Anyway, I’m fine with it for now assuming based on the OP that:

  1. There is no cost to shareholders when we stop buybacks before 4 April 2016.
  2. There is no better offer for a share buyback executor during that period.

Re 2 would you be ok to handover the role within say 2 week’s notice at any time till 4 April 2016?

#12

I’m fine handing over the role on the 4th precisely. All that needs to happen to relieve me is for FLOT to stop sending me funds. That can be accomplished by either shareholder motion or FLOT consensus, they both have exercisable veto power.

#13

is different from

Not that great, but understandable from your perspective.

#14

If your question is would I stop being the buyback executor before April 4th, the answer is yes if either a shareholder motion or FLOT consensus relieves me. That should be ‘that great’, I don’t know how to make it greater other than promising to serve for more time than I already have for free.

What would a better offer even look like?

#15

I tried to clarify your wording in my post and with your response you did so. Thanks.

#16

I will vote for this motion.

#17

33a5c90451764d2c5c1e6794e2c352d2423618e4 veried and voted.

1 Like
#18

Please keep voting for this. There has not been any pushback and we’re very close to the deadline. Please don’t make FLOT work any harder than they already are by passing this during the weekend.

2 Likes
#19

64 votes in the past 100 blocks. It looks like this motion will pass in the next couple days.

2 Likes
#20

Adding this to my voting data feed –

  • Free of charge service by a trusted member
  • Nu will find a better way by April, 4th
1 Like