The purpose of this motion is to make NSR auctions adjustable in size to meet evolving market conditions. When buy support is low or interest rates are not falling and not zero, the auctioned amount increases. Otherwise, it decreases.
Related motion referred to in the motion text: motion to hold weekly NSR auctions
Motion RIPEMD160 hash: dadd35b4132ab497772fc71a28ab5afb6ba3a8a5
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If the motion to hold weekly NSR auctions passes, the number of NSR auctioned each week will be modified in the following way:
The quantity of NSR auctioned will be raised by 50% from the previous week if either:
The percentage of liquidity on the buy walls is less than 40% of the total.The highest interest rate on any duration is not zero and has not declined by at least 1% from the previous week. The highest rate offered at any any time during the week (starts end of Friday UTC) will be used.
If neither of these two conditions are met, the quantity of NSR auctioned will be reduced by one third (33.3%) from the previous week.
If 50% or more of liquidity is on the buy walls and interest rates are zero for all durations, NSR auctions will cease immediately.
Once auctions have ceased, they will be restarted at one million NSR in the case that interest rates are offered continuously for 30 days.
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