NuShares is the company stock and the backbone reserve for NuBits. Shareholders control the network by voting, and have power to …
- Issue new NuBits (US-NBT, CN-NBT, EU-NBT, X-NBT).
- Issue new NuShares (NSR).
- Set transaction fees.
- Set park rates.
New NuShares are created only by passing of a grant, and from the voting reward (40 NSR per vote). Every 10,000 NSR allow one vote per 7 days. Once cast, the involved NuShares cannot be moved temporarily.
Grants and motions require over 50% of YES votes within any 7 days to be passed in protocol. Grants directly increase the coin supply. Motions only tell humans what shareholders want.
Issuance of NuBits and NuShares requires majority vote, while transaction fees and park rates are adjusted continuously to the median of the latest day and a half of votes.
In order to initially offer NuBits at an exchange, shareholders find a trusted agent that will place them on the exchange order book. Agent presents an unused NuBit address, they agree to an amount, and supporting shareholders vote for the grant proposal. If the grant passes, the amount is created at the agent’s NuBit address.