Asset Reserve: $135,416 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 948 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 3,590.2322 USNBT
Approximate price per USNBT: 0.2640
Transaction 1 ID: 4999c0c6d9d114abd994ff2620c949e7db97c4f2cc6c48ee2ba1a3f8617a94c8
Transaction 1 in block explorer
Asset Reserve: $114,000 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 798 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 2428.4205 USNBT
Approximate price per USNBT: 0.3286
Transaction 1 ID: Check address BN2Nq4a3arF597FeaLd7wMG2MHkG5J5X8U
Asset Reserve: $109,965 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 770 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 2,018.7790 USNBT
Approximate price per USNBT: 0.3814
Transaction 1 ID: 41ade0743addab0e7fb960865b487954d0fae94c78c469359d87f06048811295
Asset Reserve: $112,587 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 788 USD per week average
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 3460.97 USNBT per week average
Approximate price per USNBT: 0.2277 average
Transaction 1 ID: 60f72036846a0572387309d2dd25a0835022155ae3110819b0541d8a2103d70d
Asset Reserve: 111,984.50 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 783.89 USD per week average
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 5,549.8039 USNBT per week average
Approximate price per USNBT: 0.1412 average
Transaction 1 ID: f2bfdf66593784453b42d5cb571f3a4da70c4a219088a50bc0e477c512e4013d
Transaction 1 in block explorer
Asset Reserve: 111,349 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 779.44 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 3,941.7229 USNBT
Approximate price per USNBT: 0.1977
Transaction 1 ID: 389bafc19d5928ff9a377f7a68e37fae850950ff9c9a033f1a65bff989ae64ec
Transaction 1 in block explorer
Asset Reserve: 105,826 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 740.78 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 3,708.3107 USNBT
Approximate price per USNBT: 0.1998 USD
Approximate price per BTC: 95,084.8897 USNBT
Transaction 1 ID: 704b90e184aa34135ff4395385b55cef13293bd1acd1adb1877ca833423fead4
Transaction 1 in block explorer
Asset Reserve: 97,810 USD
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 684.67 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 2,562.6826 USNBT
Approximate price per USNBT: 0.2672 USD
Approximate price per BTC: 71,185.6278 USNBT
Transaction 1 ID: 9b517531072cab9c438e252804b4ce84228581d518fa24d3a88ccc68529f5c29
Transaction 1 in block explorer
Asset Reserve: 227,567 USD on April 2nd
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 1592.97 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 79,603.7171 USNBT total (4975.23 per week)
Approximate price per USNBT: 0.3202 USD
Transaction 1 ID: 64c91e208636e262daa8758e84aaf05515e91922e5fd250cc725f6ff0de21bd2
Transaction in block explorer
Asset Reserve: 165,349 USD on April 30th
Current Move Toward Equilibrium: Weekly 0.7% of Asset Reserve
Move Toward Equilibrium: 1185.42 USD
Move Actions: Trade BTC for USNBT, then burn acquired USNBT
Move Results: Burned 16050.0261 USNBT total (4012.51 per week)
Approximate price per USNBT: 0.2954 USD
Transaction 1 ID: 6a1b78eda422beaddec3b7a7ab7327d3720fbff12e02b6173b18171aadf7e52f
Transaction in block explorer
From what I can see, Phoenix vanished almost a year ago. The buyback program stopped right around that time.
I wonder (which may be unlucky), if he really disappeared due to COVID-19 and lost contact with all the members forever, does this mean the project is dead? and it canāt restore pegs forever ?
Somebody is still paying for the server, I guess. Which is odd because there was a post about urgenty needing funding for the server. I offered to cover it for a while to give the project a chance to regroup but no one ever contacted me about it (or anything else).
I thought you were going to say here that he might be dead from either Covid or one of the vaccines, which is also a possibility. He doesnāt strike me as someone who would just abandon his project, so it feels more likely that something unexpected happened to him.
Is it possible to tell if his NuShares are still minting?
Nu blocks died for days , explorer certificate expiredā¦ so is this end? Team exited ?
Without Jordan Lee (Phoenix) to lead the project, it appears that nobody is willing to invest the time and effort into it. Not only is the peg still far away from being resurrected, but Nu itself is running on ancient blockchain technology.
It took Peercoin many years to catch up with Bitcoin in terms of code compatibility. Nu is running on old Peershares tech, which I believe is a modified version of Peercoin v0.4 from 2014. Peercoin is now all the way on v0.11.8, and currently working on a code rebase to the latest version of Bitcoin. The point is, itās a multi-year task to upgrade the Nu blockchain, and Nu doesnāt have a core developer, nor the funds to pay one.
And even if Nu did somehow find financial backing, finding a willing and competent developer that is well versed in Bitcoin and Peercoin code is like trying to find a needle in a giant haystack.
So yes, I think itās been over for a while now. I suggest moving on to other things.
It looks we really at the end of things with block explorer down for quite a while now and no exchange listings. It was a fun project to spend some time on. Moving on indeed as it will need a lot of investment to revive from here.
FYI Besides this forum it is also fun to have a look at better times. The forum we also used for a few years on gitter: https://gitter.im/NuNetwork/Nu.
I think those Gitter threads and this forum should be archived somehow. It is has historic value being the first algorithmic stable coin.
So the plan to create this thread and burn Nubits is just a devsā final exit plan? Sorry if Iām misinterpreting.
Iām trying to tell you that there are no devs. Nu hasnāt had a core developer for years ever since Sigmike moved on from the project. And Phoenix was leading the effort to revive the peg through buyback and burn programs. Heās been missing for over a year now, so something happened to him. Whether he died of Covid or he just gave up and moved on, we may never know. But the project will most likely not be able to continue without him managing things.
This is how Nu should be remembered.
The Wright brothers only flew the first plane for a few seconds, but they paved the way for a century of aviation innovation with that brief moment of success.
Nu was the first stablecoin experiment. It was groundbreaking in 2014. Even though it only flew for a couple years before losing the peg, we should be proud that we pioneered a new innovation in digital currency.
Along with Jordan Lee/Phoenix, Sigmike, Ben, and CoinGame, I was proud to have played a part in this experiment.
Itās time for everyone to move on. There are much more interesting things happening in crypto now.