Three roles that need to be filled by shareholders

[tomjoad]

Regular small payments / grants (even 1 NBT or equivalent NSR) could also be used to determine / assert / record in the blockchain who is ‘in’ and who is ‘out’

This is a great idea. Our forum could disappear tomorrow but we would always have a blockchain record of who has been entrusted with the funds.

[JordanLee]

There are two aspects to moving this forward. One is selection of the multisig participants. I suggest people who want to be signers propose a motion designating them as such. There will need to be one motion per person. We also need to bring clarity to exactly what signers are being asked to do. An effort to compose a motion governing the regular activities of the signing group is needed. These suggestions are made with the presumption that signers will fill all three roles.

[tomjoad]

I’ll withdraw from consideration if I’m acting as a NSR buyback facilitator. The multisig group would ideally decide each week how much excess Tier 4 liquidity existed, at which point it would send the funds to me for the purchase of NSR. Inclusion in both roles would be a slight conflict of interest on my part.

[JordanLee]

Inclusion in both roles would be a slight conflict of interest on my part.

I don’t see a conflict of interest. The decisions about buyback size are based on simple formulas. I don’t see how you gain from a larger or smaller NSR buyback.

[Dhume]

I agree with Jordan, someone from the tier 4 liquidity multisig group has to do the buyback I don’t see anyone more suited for this then you Tom. You seem to have a sensible well thought out plan how to do it and all the required credibility, I would vote for this.

[crypto_coiner]

Thanks for reminding me -
I would like to try to honour and provide that service for a non NULL fee - Let’s see that I see it like maintaining securely a vault for 10NBT/month.

[cryptog]

And 3 people who volunteered but have not yet specified if they would like a fee or not:

Sorry for the delay. At that stage I would be willing to be a multi-sig signer for free.

[masterOfDisaster]

Without answers to these questions

I've not seen a formal answer to this question, but to me it makes sense to make this split. These are questions which need to be part of the discussion as they should be in a final motion as well: I'd like to add another question: do these roles necessarily need to be filled solely by shareholders? It's obvious that they have an incentive to fill the role. But does that mean being shareholder is a requirement?

I can still imagine having a multi signature signer role.
If some answers to the questions turn out to be a show stopper, I’ll take the liberty of withdrawing this offer.

I’d do it for 10,000 NSR per month, because I think payment makes me feel even more reliable for the job.
Otherwise I’d do it for free as I believe the Nu network can revolutionize money business and I’d be proud to play another tiny role in it.

[tomjoad]

Now that Jordan Lee has specified his required compensation to continue with liquidity operations, we need to vote in a group to replace him. The first step will be to establish group members. After that, we can look at voting for rules that govern the conduct of each group. I think @dysconnect has a good point regarding the required skills/interests of the group:

it is better to choose people who like to consider expenditure and regulatory practices, and perhaps with some ability to code and automate parts of the responsibility.

Would anyone like to volunteer to hash a motion? I get the sense nobody wants to offend anyone else by selecting individuals, so I would like to propose the following shareholders for the two groups based on their history on the forum and willingness to volunteer without compensation:

1. Buy-Side Custodian Group

• $80,000 worth of BTC (Tier 4 Liquidity)
• 20-40M NuShares for emergency sales (Tier 6 Liquidity)

@tomjoad
@desrever
@woodstockmerkle
@masterofdisaster
@nmei
@cryptog
@dhume

The group would operate with a 5 of 7 multisig arrangement. Payment would be a token 1 NBT custodial grant for each member to establish the concept of consideration. If I’ve misunderstood anyone’s willingness to be in the group, please let me know.

2. Sell-Side Custodian Group - 500,000 NBT in reserve (Tier 4 Liquidity)

The current FRST team would continue on with their management of this reserve.

[cryptog]

If I’ve misunderstood anyone’s willingness to be in the group, please let me know.

you forgot @crypto_coiner , obviously.

[tomjoad]

you forgot @crypto_coiner , obviously.

I simply picked seven people who seemed to indicate they were willing to do it for free. Other people I would trust like @mhps and @crypto_coiner suggested they would like payment. Feel free to propose a new slate of people if you like.

[mhps]

Is for free such a high priority criteria for a task for which careful consideration and timely response appear to be both important?

Why not clarify the requirement first?

[crypto_coiner]

That is correct - I mentioned I would like payment some 12d ago.

[dysconnect]

I have drafted a motion that selects me for a part of this. It’s easier to post motions separately for each individual, and although I would appreciate some votes, this can serve as an example.

[cryptog]

1. Buy-Side Custodian Group - $80,000 worth of BTC (Tier 4 Liquidity) - 20-40M NuShares for emergency sales (Tier 6 Liquidity)

Tks for starting to create potential groups.

Sorry for asking about it only now. Would it be possible to only take care of Tier 6 liquidity ?

[KSylvan]

I think a white paper would serve multiple purposes. It will document lessons learned, where we are now, where we plan to go, and provide a historic position that is accurate for future changes and growth.

[willy]

Hey @KSylvan,

welcome aboard.

Would you mind introducing yourself here?

Introduce yourself to the community

Here is your chance to introduce yourself and tell us something about yourself. There is no prescribed format. Just tell us what you feel comfortable with sharing with this community. Tell us about why you joined, what you you are looking for, what you would bring to this community. Or just say Hello to all of us. Oh, almost forget about introducing myself smile I'm Cybnate, some might know me from the Peercoin community where I have the same alias. I'm taking a similar role as with Peerc…

[tomjoad]

Other shareholders should speak up if they have preferences, otherwise I will hash my proposed seven members above. This is not an issue we can afford to be apathetic on.

[cryptog]

Before you hash, a couple of questions about group 1)'s duties that you are envisioning, if possible,

• Would it be possible to only take care of Tier 6 liquidity ? (already asked)
• What does it require to be a member of a multi-sig group ? (saving a private key only would be enough)
• What would be the duration of such a duty that comes with being a member of such a group? (I am willing to do it for free for say a 1 month or 2 but maybe not 6 months.)

Tks!

[mhps]

Right. Many questions depending on the details which few seem to care about. I asked questions in the #2 post

What does it take to be one of the multisig holder? I have never used
multisig before. Some specified requirement would help. for example

1. receive the fund by doing so and so
2. keep a client ready to send within N hours.
3. read the forum for action notice once N hours.
4. once needed to act, open the client, click this and this…

There even isn’t a sketchy answer before the shareholders are asked to cast votes?