Motion RIPEMD160 hash: cad85024e62334e3a52e65b70a746d2c94d510c8
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If the First Liquidity Operations Team, FLOT, multisig address contains less than 4% of the total NSR supply, a grant should be proposed to refill the address to 5%.
Rules for use of NSR:
⦁ If less than 25% of all liquidity in tiers 1, 2 and 3 across all currencies is on the buy side for 4 hours or longer, NSR should be sold with the goal of restoring buy side liquidity back to 30%. Sale proceeds should be converted to currency if necessary and burned, with the burn transaction IDs announced publicly. Additional details about how much to sell, how much at a time, etc should be determined by the signers in real time, because much more information will be available at that time than shareholders have now. We can be confident in any course of action agreed upon by 4 of the signers.
⦁ As previous motions for conducting NSR sales conflict with the rules presented in this motion, they will become invalid. However, signers should look to previous auctions as an example of how future sales might be conducted. Specifically, park rates will have no bearing on share dilution.
A grant of 80,000 NBT should be requested using A FLOT multisig address. The First Strategic Reserve Team (FSRT) will continue functioning as a backup to sell side pressure provided by this group. Any funds the FSRT has in excess of 81,000 NBT should be burned within 14 days of when the NBT grant to FLOT is made. No commission or compensation will be paid for funds burned. Of this 81,000 NBT, 1000 is allocated for compensation to members of FSRT in the amount previously agreed to.
Rules for use of NBT and other Nu currency:
If sell side liquidity in tiers 1, 2 and 3 for a specific currency drop below 35% of total liquidity, signers shall sell currency in the open market until the sell side is restored to at least 40% of total liquidity. Proceeds of currency sale shall be added to tier 4 buy side funds, which may be used for share buybacks as specified by existing shareholder motion.
All tier 4 buy side funds shall be transferred to a multisig address shared by this group.
Rules for use of BTC or other tier 4 buy side funds:
FLOT will be bound by the same rules established by shareholder motion to conduct share buybacks in cooperation with @NSRBuyback. BTC will be used to purchase currency when a specific currency’s buy side funds falls below 35% of total liquidity in tiers 1, 2 and 3 for that currency until the buy side is restored to 40%. The currency proceeds will be placed in the multisig currency address controlled by FLOT.
The preceding should be interpreted as guidelines, and FLOT may exercise discretion. Communications between FLOT members regarding decisions on how to use funds must be publicly visible.
In order to form FLOT, at least 3 signers must be selected by motion. Additional signers will be accepted for a period of 14 days after this motion is passed.
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