As has been discussed on the forum recently, it is the intent of the Liquidity Operations team to support the USNBT price on an ongoing basis through market making and arbitrage trading operations. Funds for trading will be raised principally through NSR sales. Trading profits are expected to grow the fund. 0.1% of the fund will be used each day to purchase US NuBits (USNBT) on the open market and then burn them. In this way the price of USNBT will be supported and the quantity of USNBT in circulation will be reduced.
We hope to have a much larger fund soon as a result of large NSR sales to large investors such as BarterTrade and others. A much larger trading fund means both larger profits and larger USNBT purchases and burns. Using this method, the team believes restoring the USNBT peg is quite practical.
For now, as a manual process, weekly purchases and burns will be conducted. 0.7% of the trading fund will be used each week to purchase and burn USNBT. Here are the first week’s numbers. I expected to publish these figures each week, in USD.
Total value of trading fund: $142,125 (as of May 3) Value of funds used for USNBT purchase (0.7%): $994.88 Number of USNBT purchased and burned: 16,700.4308 Average price per USNBT: $0.05957 Burn transaction ID: d4ba9061ff7f562dfe16708998a217f17e805a712a686414eb804c33d84b4ec4 View burn in block explorer
Total value of trading fund: $184,249 Value of funds used for USNBT purchase (0.7%): $1,289.74 Number of USNBT purchased and burned: 19,039.8822 Average price per USNBT: $0.0677 Average price per BTC in USNBT: 103,277.4196 Burn transaction ID: 7f2ef6553953faaf8329115c9330a7cb560d75ef162ecb64f973648312f91710 View burn in block explorer
Total value of trading fund: $184,249 Value of funds used for USNBT purchase (0.7%): $1,289.74 Number of USNBT purchased and burned: 12,015.6973 Average price per USNBT: $0.1073 Average price per BTC in USNBT: 65,069.7319 Burn transaction ID: 6ec11ae4992d7a320002d1a8bd00b58ba1bc21f753b18022041c9431267eacab View burn in block explorer
Total value of trading fund: $212,980 Value of funds used for USNBT purchase (0.7%): $1,490.86 Number of USNBT purchased and burned: 17,996.0962 Average price per USNBT: $0.0828 Average price per BTC in USNBT: 97,639.1388 Burn transaction ID: 4e81dbc7e9c3587888692d59798c9e2080b585434270a90521aefaddd5281993 View burn in block explorer
Total value of trading fund: $207,025.56 Value of funds used for USNBT purchase (0.7%): $1,449.18 Number of USNBT purchased and burned: 19,636.5913 Average price per USNBT: $0.0738 Average price per BTC in USNBT: 109,329.1631 Burn transaction ID: acd57426cec00c935a07ad1bad87bbec3cf5959c9b52c88ec1a03bfbe5b7c4f1 View burn in block explorer
Total value of trading fund: $216,326.95 Value of funds used for USNBT purchase (0.7%): $1,514.29 Number of USNBT purchased and burned: 21,947.6787 Average price per USNBT: $0.0690 Average price per BTC in USNBT: 125,927.5803 Burn transaction ID: 8d85acee1ff667af56b84eab7960756ea0fdaec1154534fcede136c23bccd354 View burn in block explorer
Total value of trading fund: $187,337.59 Value of funds used for USNBT purchase (0.7%): $1,311.36 Number of USNBT purchased and burned: 17,958.0677 Average price per USNBT: $0.0730 Average price per BTC in USNBT: 108,428.5961 Burn transaction ID: a963c3e9e696f5ee7bdd22a22ff3ae8eb9b0888792423edad26935c8fd4e748c, e4902c1c2e73a4544c6927cc5d76b0f9d96bb82b4d1f850ebae20d20c547d006 Note: RPC burn doesn’t handle thousand separator. View burn in block explorer
Total value of trading fund: $215,445.05 Value of funds used for USNBT purchase (0.7%): $1,508.12 Number of USNBT purchased and burned: 19,440.5292 Average price per USNBT: $0.0776 Average price per BTC in USNBT: 120,024.9823 Burn transaction ID: df14a799c268603a5f4eef719207c7e6e2ff603a2b90dea19f0a591a28b03c0d View burn in block explorer
Total value of trading fund: $259,246.09 Value of funds used for USNBT purchase (0.7%): $1,814.72 Number of USNBT purchased and burned: 23,056.9441 Average price per USNBT: $0.0787 Average price per BTC in USNBT: 144,427.4774 Burn transaction ID: 2d9627a1e4e16e48dc90adfd79f15078b70b2b352e621de37373ec50b63d4892 View burn in block explorer
Total value of trading fund: $237,717.31 Value of funds used for USNBT purchase (0.7%): $1,664.02 Number of USNBT purchased and burned: 22,298.2587 Average price per USNBT: $0.0746 Average price per BTC in USNBT: 140,831.2440 Burn transaction ID: 4da57b16ef745d3fcb0aca36da9f8958234754f7dda1c3c443aa0967679a9d97 View burn in block explorer
Total value of trading fund: $273,791.71 Value of funds used for USNBT purchase (0.7%): $1,916.54 Number of USNBT purchased and burned: 23,584.1604 Average price per USNBT: $0.0813 Average price per BTC in USNBT: 155,127.1510 Burn transaction ID: 788e0b6f706909ee60aaf4f534377ecd9da5c1eb4d3c42b2438c09854a3e2bc8 View burn in block explorer
Total value of trading fund: $206,447.18 Value of funds used for USNBT purchase (0.7%): $1,445.13 Number of USNBT purchased and burned: 22,633.1406 Average price per USNBT: $0.0639 Average price per BTC in USNBT: 150,760.4325 Burn transaction ID: 15aba4f2fd04505a1642b65df77488d3255e7039b73befd13998e432f704a990 View burn in block explorer
Total value of trading fund: $220,089.98 Value of funds used for USNBT purchase (0.7%): $1,540.63 Number of USNBT purchased and burned: 24,986.6648 Average price per USNBT: $0.0617 Average price per BTC in USNBT: 167,234.6743 Burn transaction ID: 945efe7aa4d605dac4a54b1a3a790015f7b48930359e5cadcf9f11b77d469a01 View burn in block explorer
Total value of trading fund: $248,690.87 Value of funds used for USNBT purchase (0.7%): $1,740.84 Number of USNBT purchased and burned: 26,926.2898 Average price per USNBT: $0.0647 Average price per BTC in USNBT: 181,634.6565 Burn transaction ID: ea05be1b0fdf9bb595c53b38a404c7311f666ad7fba7dcb7f6c894ae92b0b4e1 View burn in block explorer
Total value of trading fund: $247,447.53 Value of funds used for USNBT purchase (0.7%): $1,732.13 Number of USNBT purchased and burned: 21,668.2217 Average price per USNBT: $0.0799 Average price per BTC in USNBT: 147,786.3633 Burn transaction ID: 38a71badc0e1c0b7789abd0f23c900cefd1bd2eb4092cbc6af72477c276a7b45 View burn in block explorer
Total value of trading fund: $216,550.90 Value of funds used for USNBT purchase (0.7%): $1,515.8563 Number of USNBT purchased and burned: 21,890.1353 Average price per USNBT: $0.0692 Average price per BTC in USNBT: 150,550.8138 Burn transaction ID: 70298185a1d2aab892267b04741beee62093e5571774abbbb744fc02e7068afc View burn in block explorer
Total value of trading fund: $221,971.15 Value of funds used for USNBT purchase (0.7%): $1,553.80 Number of USNBT purchased and burned: 16,781.3562 Average price per USNBT in USD: $0.0926 Average price per BTC in USNBT: 116,023.5186 Burn transaction ID: e7d1699ce1d62df4181251e3b7a22ad8e0e3b57f7b41054782683447663ca5ac View burn in block explorer
Total value of trading fund: $207,901.84 Value of funds used for USNBT purchase (0.7%): $1,455.32 Number of USNBT purchased and burned: 17,640.4373 Average price per USNBT in USD: $0.0825 Average price per BTC in USNBT: 124,571.9854 Burn transaction ID: abd206d5dd9eb421fda3ca968d4d9f06b1df43421cf9558dc59f7edb3ed6d259 View burn in block explorer
Total value of trading fund: $212,182.67 Value of funds used for USNBT purchase (0.7%): $1,485.28 Number of USNBT purchased and burned: 16,985.7965 Average price per USNBT in USD: $0.0874 Average price per BTC in USNBT: 122,795.8226 Burn transaction ID: 2e3a3519d8bb3945d7776eca4acb24d9c20df5d7c220528894e107bca17d0978 View burn in block explorer