The Nu system is controlled by NuShares (NuShares, NSR for short) holders and uses PoS (Proof of Stake) to mint coins to maintain network security. Different from other BitShares applications, the Nu system will also verify and broadcast transactions with NuBits as the currency unit. The creation and sale of NuBits is the income of the entire ecosystem, and custodians can use this part of the income to maintain the Nu system and distribute dividends.

Project Highlights

Save What if there was a whole new way to safely store your money without a bank? The World Bank estimates that half of the world's adults do not use banking services. Of these, "at least 35 percent reported barriers to account use. The most common barriers included high costs, physical distance, and lack of proper documentation."
NuBits can dramatically improve lives. There is no cost to downloading the NuBits wallet, no physical distance barriers to overcome when sending NuBits, and no documentation required for NuBits to be in possession. As the NuBits infrastructure develops, the quality of life of many global citizens will improve.
Trading Professional exchanges allow trading various digital currencies, but there are problems.
Traders on these exchanges sell their digital currencies for fiat currencies such as U.S. dollars if they think the value of their holdings will drop. Traders then need to either hold fiat currency on an exchange (potentially a target for theft) or withdraw funds (which can be slow and inconvenient).
NuBits removes this frustration. Traders can buy NuBits as a stable hedge instead of liquidating their fiat holdings. These NuBits can then be quickly and easily transferred from exchanges to private wallets. NuBits makes digital currency trading easier.

Project Storage

Saving is like lending money out at a certain rate of interest. A NuBits holder (custodian) volunteers to hold all balances associated with a specific address that is placed in a deposit transaction in a block to ensure from a network perspective that when funds are deposited A certain amount of NuBits will be received as a bonus (interest).
When NuBits are stored, users can choose the storage period. The protocol allows NuBits to be stored in blocks that are powers of 2 (1, 2, 4, 8, 16, 32, etc.). Through an OP_RETURN transaction, the deposited NuBits cannot be traded during the selected period. This is equivalent to reducing the money in circulation during this period. In other words, some economic entities will do this specifically for interest, which increases the demand for NuBits. At times when organic (natural) demand for NuBits drops, this mechanism can be used to increase demand to ensure the price does not drop below $1.
On the block, storage transactions will be marked and include information such as the storage period counted by the block. The storage period of the balance, that is, the value of the block, can be any non-zero positive integer.

Interest rate

Offering interest is the mechanism used to incentivize NuBits holders to deposit their funds. When the demand for NuBits exceeds any previous peak, it can be expected that shareholders will not provide interest on depositing NuBits. When the demand for NuBits falls, shareholders will vote on the interest rate. In order to maintain the price of NuBits at $1, shareholders will provide high enough interest to increase storage demand. Shareholders do not have to offer a single rate for all deposit periods, they can offer different rates for different deposit periods, resulting in a dynamic yield curve. The manner in which shareholders vote is discussed in the voting section of this article.

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