[Voting] Liquidity Operations NSR Custodial Grant

[Phoenix]

Here is the final version of this grant:

Additional NuShares are needed to fund peg restoration and ongoing operations. The vast majority of NuShares distributed by the Liquidity Operations team in recent times has been to fund @smooth’s decentralized USNBT buy and burn program. These are essentially over the counter sales of NuShares used to remove USNBT from circulating supply. NSR are also used to compensate contractors. This use pattern is expected to continue. NSR may be sold to raise funds in the event that there is surge in liquidity. This use pattern is expected to continue. The grant address is multisig, with signers being members of the Liquidity Operations team. We are asking for 300 million (300000000) to multisig address SyjZn12QQgYvtKrwGGfMrAkXmBRKDV8rqb. We expect this supply to last for approximately 3 months.

Despite a high level of NSR grants the last few years compared to our entire history, they have been slowing down. In 2018, 1.5 billion NSR was created via custodial grant. In 2019, we reduced NSR grants to 700 million NSR. In 2020, we reduced it further to 500 million. This is the smallest NSR grant in 3 years at 300 million, a mere 5% of the total circulating supply of NuShares.

[Phoenix]

This is on track to pass in a few days, with 86% support in the last 300 blocks.

[Phoenix]

This passed with 88% of the vote in recent blocks. It is an extraordinary consensus, considering that the default is a “no” vote. This means minters not paying attention or abstaining count as a “no” vote.