USNBT purchases and burns

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
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Finally!

2019-05-10

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
Burn transaction ID: 7f2ef6553953faaf8329115c9330a7cb560d75ef162ecb64f973648312f91710
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2019-05-17

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
Burn transaction ID: 6ec11ae4992d7a320002d1a8bd00b58ba1bc21f753b18022041c9431267eacab
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2019-05-24

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
Burn transaction ID: 4e81dbc7e9c3587888692d59798c9e2080b585434270a90521aefaddd5281993
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2019-05-31

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
Burn transaction ID: acd57426cec00c935a07ad1bad87bbec3cf5959c9b52c88ec1a03bfbe5b7c4f1
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2019-06-07

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
Burn transaction ID: 8d85acee1ff667af56b84eab7960756ea0fdaec1154534fcede136c23bccd354
View burn in block explorer

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2019-06-14

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
Burn transaction ID: a963c3e9e696f5ee7bdd22a22ff3ae8eb9b0888792423edad26935c8fd4e748c, e4902c1c2e73a4544c6927cc5d76b0f9d96bb82b4d1f850ebae20d20c547d006
Note: RPC burn doesn’t handle thousand separator.
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2019-06-21

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
Burn transaction ID: df14a799c268603a5f4eef719207c7e6e2ff603a2b90dea19f0a591a28b03c0d
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2019-06-28

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
Burn transaction ID: 2d9627a1e4e16e48dc90adfd79f15078b70b2b352e621de37373ec50b63d4892
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2019-07-05

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
Burn transaction ID: 4da57b16ef745d3fcb0aca36da9f8958234754f7dda1c3c443aa0967679a9d97
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2019-07-12

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
Burn transaction ID: 788e0b6f706909ee60aaf4f534377ecd9da5c1eb4d3c42b2438c09854a3e2bc8
View burn in block explorer

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