[Voting] 100 Million Nushares to FLOT-NSR to Replenish Reserve and Reduce Nu Liability

NuShares Voting Grants
#1

A more responsive multisig address

T19YND2VWqwGdTvYox3f75FJAfoonW6Tsm

has been created and has been validated.

This grant proposal to fund $100m NSR to the new address is put on Daology and is copied here

The Standard and Core motion currently requires to sell NSR to replenish T4 reserve.
According to the latest calculation 100 million NSR is requested to
be granted to FLOT NSR’s #3 multisig address to make it easier for
members who show up more often to sign.
The grant will be used to replenish reserve and reduce Nu liability.

Although the latest calculation and amount requested are huge numbers, I believe the executor will maintain a proper pace not to over-disturb NSR market.

Please comment.

Status changed to Voting. Please vote

T19YND2VWqwGdTvYox3f75FJAfoonW6Tsm 100000000

1 Like
#2

I support it.

#3

What is the difference between this motion and this one?

#4

This motion is meant to enable FLOT to function as intended and avoid requiring @Phoenix to act as backup via singlesig.

1 Like
#5

What do you think of this grant, @Cybnate?

#6

I believe the principle of having the shares in multisig is good. I just can’t support the amount of dilution this is creating without an end in sight. Total NSR value is already lower than NBT value which hover around 0.85 cent. Either a lot of NBT need to be burnt or even more people need to significantly invest in NSR ($100k+) while it continues to be diluted even further. Not a very interesting prospect imo. I seriously wonder how and where this is going to stop if ever.

2 Likes
#7

Without real revenue? Never!

With ‘real’ revenue I mean revenue different from selling NSR (which shouldn’t be accounted as revenue), selling NBT (where you can only account the proceeds as revenue, if you account the NBT as liability: zero-sum game) or tx fees (because they barely exist).

Real revenue comes from one of the numerous sources phoenix so far failed to implement (spread trading, negative interest for non-parked NBT etc.)

2 Likes
#8

NBT liability decreases from 700K to 600K in around one month, with this speed, after several months, we can eat up those liability, the free market is partially irrational, you just cannot compute the human being’s fearness, greedy.

To sum up, when NBT pegged well, we need good accounting to operate this company, but if NBT in chaos, no one can calculate the behaviors of free market.

I am sure that seldom Nushareholder will ever like to go through this crisis again, the so called tier 6(NSR) is their nightmare. This machenism is poorly designed, and we must fix this bug in architect.

#9

Off-topic: That is true, many people are also still buying lottery tickets not comprehending the risk/reward ratios or maybe just to be able to dream?

#10

Agree,

I can compute the orbit of heavenly body movement, but can’t compute humanistic madness."
----Isaac Newton

2 Likes
#11

My rationale is that @Phoenix has shown that he is not bad at massaging the market (not a surprise for someone who created a stable currency by twisting the market’s arm with walls) to move the value of nubits to where the customers want. He has indicated to put a lid on nsr dilution when nbt price gets close to $1. (We will see) This buys time and attracts attention to get long-term revenue silution going.

1 Like
#12

Hello,

Please explain to me what are Nushares from FLOT-NSR used for and examples about liquidity operations

Thanks :slight_smile:

#13

It’s being used to sell nsr on polo for btc; to buy btc or nbt in weekly blind auction, where the bought nbt are burned; and to sell to big buyers for btc. The proceed btc are used to buy nbt on polo to burn, pushing up nbt price and reducing Nu liability.
See report thread Backbone Reserve Operations (tier 6)
and FLOT NSR thread FLOT NSR Operations (buy side)
auction thread Nu Blind Auction NSR #5 (closed)
The weekly sell amount is calculated according to Standard and Core Supply, Reserves, and Equilibrium

1 Like
#14

Three days passed and no more comments and improvement suggestions. I changed the status to Voting.

1 Like