Emergency recapitalization measures

BR is at 40%, USDN is at 95c, USDN redemptions continue, WAVES price continues to decline, there is 540ml USDC/T debt overhand on Vires that requires USDN 500k be sold per day to service, and the market’s trust of algo-stablecoins has been crippled by UST/LUNA’s demise.

We are on the brink of the point-of-no-return, if we haven’t already passed it.

The entire Waves Ecosystem is dependent on the solvency of USDN and each of its components needs to pitch in to recapitalize:

  1. Turn on all Neutrino Nodes (not only Node 1) to credit their income to the backing.

  2. Tax a % of all other (non-Neutrino) Waves Node’s income and add them to the Neutrino SC backing (without creating new USDN).

  3. Keep a % of all gNSBT income in the USDN backing.

  4. Tax a % of all Waves Exchange trading fees, buy WAVES with it, and add to the USDN backing.

  5. Tax a % of WX emissions, buy WAVES with it, and add to the USDN backing.

  6. Tax a % of Waves Investment product’s income, buy WAVES with it, and add to the USDN backing.

  7. Tax a % of Waves DeFo’s income, …, add to USDN backing.

  8. Tax a % of tangential project’s income like PuzzleSwap etc …

  9. Tax a % of the NFT marketplace income - tax the mother duck’s eggs if necessary! (:

These measures should be in place as long as BR is less than 1.667.

We need an income stream having a net present value of at least $200ml to recapitalize.

It’s time to face hard reality and knock off the Hopium addiction.

  1. Tax a % of gVires’ income, buy WAVES with it, add to USDN backing.