I was granted 150,000 USNBT late last year at B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj. That grant has never moved and was primarily intended for liquidity operations. With so many wonderful people involved in liquidity operations and so many distinct operations (FLOT, NuLagoon, multiple gateways run by different operators), the network no longer needs me to conduct liquidity operations.
Increase the decentralisation! This makes me happy that we are prepared to have me step back further from the authoritative and trusted role I played in the community in the beginning. Soon I will just be a peer, a shareholder, as it should be. In the beginning, it was just me. Centralised and authoritative. I promised you a peer to peer network. This is the last major step in that process. I still have dev funds and the nubits.com domain, but I will relinquish control over those before long.
So, I would like to transfer these 150,000 USNBT to FLOT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js. That isn’t expressly authorised in any motion, but I don’t think it will be controversial. Still, it is prudent and orderly to get shareholder feedback before I transfer the funds. Any objections to this transfer and having me exit liquidity operations?
This proposed action will leave me with 37,527 USNBT belonging to NuShare holders. That sum will be dedicated to development in the manner already establish by motion. Not much of it will be spent in the coming weeks. NuBit development is currently slow. We need another developer, as I have discussed elsewhere.
A single person, who can transfer funds is faster, more agilie.
But the FLOT NBT multisig is safer and FLOT has proven to be quite fast, especially in the 3-of-5 multisig.
I can encourage you to transfer the funds to FLOT.
What would you do, if BTC were about to nosedive, confidence in the Nu network were recovered by an improved reserve model (higher ratio, diversified, USD properly reflected) and people would want to buy NBT and buy and buy.
Granting NBT takes some time.
We need T4 sellside buffer as much as we need(ed) T4 buyside buffer.
I was thinking about (but wanted to check the overall situation first) creating a new FLOT NBT multisig address in case shareholders would need to grant more NBT. The current multisig can’t be used for that, because it has been used for a grant already.
I came to the conclusion that this is not one of the most important matters now.
I don’t say that nosedive comes. And I’m damn sure that Nu has a lot of work to recover confidence. But it’s possible. We should be prepared.
If wo wouldn’t belive, it’s possible to recover from this, we could just leave it and say that’s that.
I’m not there yet. I still have hope and see reason to believe it can go on.
Hundreds of thousand of NBT were not traded (or attempted to be traded) at 5% buyside offset. Some might think they can trade at no uplift eventually.
There’s a lot of confidence left in our network.
Because we haven’t given it up!
They are only liability, if Nu loses control over them. As long as they remain safe on the multisig address they are an asset.
Me too.
I’d like to have them on the FLOT NBT address.
Highly appreciated. 1 signer can always outpace 3 signers.
No objection to the intended action.
Much appreciated.
Perhaps in the very near future I d like to see a FDFT a first development funding team to manage dev money.
About the new nubits dev, look very much to working on the recruiting
I can see that there is little consensus on how to proceed, so the situation requires explicit consensus be demonstrated by motion before any action is taken.