Hello Tonbi,
I'm sorry but I feel my questions were not answered, I'll try to be more clear with less questions:
1. How many NVOS will be generated? Is it a fixed number per NVOT? If not, on what their number depends?
2. What does it mean to say that NVOS=0.99USD? Where and how will NVOS be converted to dollars?
thx
Hello, and thank you for your interest :
1- The amount of NVOS will be proportional to the amount of fees collected by the Validator.
2- It won't be converted to dollars, NVOS will be exchangeable for Bitcoins, the 0.99$ will be the equivalent value of NVOS in usd.
The NVOS supply will be managed in order to stabilize the price. The buyer will be the NVO Team (in early stages), later it will be automated, it would be possible to use a smart contract in this case as counterparty is working on that.
Thx for the reply Tonbi and Nemgun.
Ok, let's see if I get it, working example:
suppose I hold 20% of all NVOTs. Suppose t is the interval of time between NVOS distribution.
Scenario: During t, 10 BTC are collected as fees and 10 ETH are collected as fees, so 20% of 50 % of that is to be distributed to me, that is, 1 BCT plus 1 ETH - NVO company holds 50% of all fees. So far, so good. Now, based on which market will you give me the amount of NVOS corresponding to that 1 BCT and to that 1 ETH in dollars??
I understood that when you come up with the price of all fees of all cryptocurrencies
in dollars, you will use the formula NVOS=0.99USD to generate the adequate amount of NVOS, that's very clear. What I'm struggling with is how this calculation will be done.
Isn't it easier in each scenario to distribute the
cryptocurrencies themselves? Specially if your schemata is seen by regulatory agencies in different countries as an online exchange and with the risk of the entire thing being shut down? You are distributing dividends with price tag in fiat.
I don't know about the tech challenges to do this, though.