Motion hash to vote for in Nu client: 9c3f3dad7a2d20d3f6a62bd3450ac79887e5541c
Phoenix, which should be understood as a brand providing a variety of services for Nu, shall be paid 180 US-NBT per hour for work invoiced to the Manager of Liquidity Operations, effective as soon as this motion passes. The type of work invoiced for is at the discretion of Phoenix. The limitation is work must be calculated for the benefit of NuShare holders. It will include Phoenix’s duties as Chief of Liquidity Operations. The nature of Phoenix’s role at Nu is to facilitate work as needed in other areas of endeavor, including, but not limited to, development or marketing.
Commentary about the motion:
My role in the development of Nu is unique and the value I bring to the organization is unparalleled. The cost of mistakes in our business can be tremendous, as we saw in June 2016. It can be argued that the failure of our multisig teams cost Nu hundreds of millions of USD when looked at from the viewpoint of where we were ranked on coinmarketcap.com just before the crisis and after the failure had played out. Had we just maintained the same ranking, we would be worth over $200 million USD. There can be little doubt that if I had been Chief of Liquidity Operations in June 2016, the peg would never have been abandoned and Nu would be many times larger than it is today. While there are many people who have a better understanding of specific areas within Nu’s operations, no single person has the combination of liquidity related knowledge, understanding of our blockchain protocol, our client source code, NuBot, our history and so forth. No one understands more about the inner workings of Nu as a whole than I do. This deep knowledge, combined with an excellent record of making good decisions justifies this exceptional compensation level. At 180 US-NBT per hour, work for Nu is probably the lowest paid work I do presently. It is to a certain extent a charitable rate I accept because I strongly believe in the potential of Nu and I am delighted to be a part of developing it. This implies that if Nu were to grow more and could afford to pay me a higher rate, I may provide additional hours of work for it.