Maybe another solution for hedging against volatility on BTC/NBT is to track a volatility index.
When the volatility is high, the fee for exchanging nbt or btc (from the perspective of a trader) with a lpc is high, when the volatility is low, the fee for exchanging nbt or btc with a lpc is low, relatively.
The thing is that Nu cannot keep forever on providing cheap liquidity when volatility is high.
It is basically giving away money.
Sorry for insisting, but I believe this is the major reason why we have seen so fews lpc in 8 months of history…