Though many of you are already aware of everything I will say here, it should be said here for those who are not yet aware and those who will read it in the future.
The following rules regarding the use and sale of undistributed NuShares will be followed:
- Though undistributed NuShares minted blocks to bootstrap the network, they will never again be used for minting or voting.
- Dividends will be paid to undistributed NuShares just like other NuShares. These Peercoins will be used for development similar to the proceeds of NuShare sales.
- The first 700 million undistributed NuShares will be sold for a total of not more than 1.5 million NBT. This includes seed funding received last January.
- The last 300 million undistributed NuShares (plus a small amount that were minted during network bootstrapping) will be sold for a total of not more than 5 million NBT.
These limits will facilitate the rapid decentralization of control of the network, which is more important than raising as much money as possible from the sale of NuShares.
Public monthly reports including the following information will be produced:
- Number of undistributed NuShares remaining
- Total funds raised from the sale of NuShares and funds raised in the last month
- How many funds were spent by category. Earnings of individual contractors will not be reported.
- How many funds remain unspent and what form they take (NBT, BTC, PPC)
- The value of all remaining funds in NBT.
The first report is being prepared and will be available soon. Additionally, every time the percent of undistributed NuShares remaining crosses even ten percent thresholds (60%, 50%, 40%, etc), the public will be notified immediately. Currently more than 60% of NuShares have been distributed. As the remaining NuShares are distributed, the sale price will increase within the limits described above.
Undistributed NuShares will be sold to people who have demonstrated skills that will be helpful to the advancement of the network. We are in a sense
picking business partners. People will need to contact us via Bitmessage
at BM-2cX8PF84t2uhvtWE9E387V2f5Fz5iF8uUj to be screened. As of 14/01/2015, NuShares are 0.01 NBT per NuShare. Payments may be in NuBits, Peercoins or Bitcoins.