[Passed] NSR sale and NBT burn

How do you reach exactly the 4.08% calculation?

667,000 NSR/week * 52 week / 850,000,000 NSR = 0.0408
Need to avoid the plural of week, because the terms wouldn’t cancel each other out with plural :wink:

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Anyone else notice the effect the auctions have on the market price?

It doesn’t change anything to do this via blind auction is my takeaway.

Ive been watching that sell wall. The aggressive sells today and last night were a good bit more than the auction volume.

Purpose of the sell?

Over 10 btc sold aggressively on poloniex (the auction was ~8). It seemed like they were simultaneously pushing down poloniex and bter (sell orders with little spread, so not the normal arbitrage). That means they’re market aware, pointing to someone who knew about the auction. Then they placed a bunch of ~80k nsr orders totalling another 10 btc. Best guess I can say is one person won both auctions and sold at once, but that seems like a dumb financial choice, as most of this happened at slightly below the auction price.


What’s the min. for this week? and how do we reach that number?

@assistant liquidity

Perhaps the assistant is asleep.

Buy side liquidity is 38058 and sell side is 36978.

I think a recent forum update has made some changes to the discourse api that the assistant plugs into. I’m seeing errors that I’ve not see before.
I’ll take a look at this later and get it working again. Sorry for the inconvenience.

Interested to hear the results of this auction.

Here are the auction results:

NSR auctioned: 667,000
Expected auction proceeds to be burned: 1333 NBT
Highest price: 0.002 per NSR
Lowest price: 0.002 per NSR
Total NSR bid for: 1.67 million

If you bid 0.002, you will be contacted to arrange settlement, which must be completed no later than Monday UTC.

Buy side liquidity is 38058 and sell side liquidity is 36978. Because the buy side is larger than the sell side and park rates are zero, no further auctions are planned. They will only be resumed in the event that park rates and liquidity meet the conditions specified in the passed motion above.


Hi @JordanLee

The current Liquidity in the Nu network is:

47549 NBT on the sell side and 28643 NBT on the buy side.

(better late than never)

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Can you update us on the actual burning of those 1333 NBT?

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The current BUY side is around: 35k
The current SELL side is around: 36.5k

Should that trigger an NSR auction?

they start again when park rates are non-zero for a month. If we drop the park rates to zero for a day, we can avoid triggering the auction motion. That’s pretty much the sole reason why I am voting zero in all categories right now. I am 100% convinced at this point that burns should have no dependence on park rates, but this kind of ‘simple’ motion is what we’re forced to work with right now.

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What’s the park rate right now?

In that case i m gonna for 0% parking rate since the buy side is strong.

Sorry this burn of auction proceeds was delayed. While 667,000 NSR were auctioned, only 500,000 NSR were paid for and distributed. This means only 1000 NuBits were received instead of the anticipated 1333 NuBits.

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For share price blind auction might be better, this time don’t you think so? Where will price be if we have to get 8BTC every week for a month? two months?