[Passed] Motion to make auction size adjustable

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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Verify. Use everything between and including the <motionhash></motionhash> tags.

Awfully quiet discussion here. I will put up the hash soon if no one has any suggested changes.

I guess people are busy trying to mitigate trouble with TLLP pools (mostly CCEDK related), thinking of ways to fund B&C Exchange, trying to find the right way to sell NSR and burn NBT, etc.

I like the feedback loop that is provided by this proposal and the liquidity situation.
Some might dislike it to see the NSR volumes (that are sold) increased by this motion (in case at least one of the conditions is met).

But like I stated here

But this motion does not only provide the NSR sale / NBT burn auction with a way to increase the NSR volume, but with to decrease it as well.

It looks like a good approach to sanitize liquidity issues in an ongoing way.

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I will vote for this even though I’m not voting for the original motion, if that tells you anything. Interesting that it connects the selloff to park rates.
I would rather it only be point 1, and make the window where the cap stays the same be 30-40%, decrease 40-60%, increase <%30 and end >60%. Have nothing in there about park rates, as they are needed on a longer time scale than burns.

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Supporting this when submitted for voting. It provides some clear protocol and criteria to cease the auction.
I wish we had smart contracts so we could leave it to the blockchain to execute, would save JL some time.

Over time these sorts of things can be automated. Right now we don’t know what the optimal protocol is for this kind of thing. We are experimenting with that. Doing this manually for now allows for inexpensive and quick adjustments to the way it works.

This motion has been finalized and is now being voted on. The hash is:


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dadd35b4132ab497772fc71a28ab5afb6ba3a8a5 veried and voted.

I expect those sales to be temporary because nsrs are very valuable and should not be sold at discount prices compared to what early shareholders paid at the time Nu was released.
Thoses sales are causing a dump of nsr right now.
Once the buy side liquidity is well established with a solid and deep liquidity market, NSR price should shoot up and buyers would have to pay the price to get a NSRs stash. But right now they can get it for a bargain.

This motion passed.

@JordanLee Your motion says nothing about the minimum bid which is originally 500k NSR in below:

Should we suppose that the min bid is reduced by 1/3 as the quantity of auctioned shares is?
See below:

Tks for checking about that.

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