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
Average price per BTC in USNBT: 103,277.4196
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
Average price per BTC in USNBT: 65,069.7319
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
Average price per BTC in USNBT: 97,639.1388
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
Average price per BTC in USNBT: 109,329.1631
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
Average price per BTC in USNBT: 125,927.5803
Burn transaction ID: 8d85acee1ff667af56b84eab7960756ea0fdaec1154534fcede136c23bccd354
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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
Average price per BTC in USNBT: 108,428.5961
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
Average price per BTC in USNBT: 120,024.9823
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
Average price per BTC in USNBT: 144,427.4774
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
Average price per BTC in USNBT: 140,831.2440
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
Average price per BTC in USNBT: 155,127.1510
Burn transaction ID: 788e0b6f706909ee60aaf4f534377ecd9da5c1eb4d3c42b2438c09854a3e2bc8
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2019-07-19

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
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2019-07-26

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
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2019-08-02

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
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2019-08-09

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
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2019-08-16

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
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2019-08-23

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
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2019-08-30

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
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2019-09-06

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

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