The price of NBST is so weird too. ive been

studying the documentation and white paper for past days and cant seem to understand it.
doesnt the documentation imply that when BR < 100% users can buy NBST for less than $1 in hopes of later redeeming that NBST for 1USDN when BR > 100% (implying USDN > $1)
but dang, NBST right now cost a fortune, like they cost $20+.
is the price equation screwed because votes changed the coefficients?

You're right. This option was more relevant when users were able to get NSBT with the discount cheaper than $1, and when the Moon Factor has been implemented (Vote #5), the price on the contract has been affected as well.

shouldn't your price equation be designed in such way that no matter what changes are made to the coefficient it at least always stay true to what you write on your documentation? i'm either not understanding this correctly or the price equation of NSBT is flawed such that changing moon factor can contradict your documentation

Because it was never reorganized after several protocol updates now it's a confusing mess :]

Not less than 1$ but less than market price. However this isn't working bcs of moonfactor

i know that you can arbitrage when minting price < market price, but the examples given in the documentation and white paper wasn't referring to that. the explanation to regulating NSBT circulation and incentives given in the docs all imply that the motive is that you use the liquidation SC in the future to redeem your NSBT for 1USDN unless im missing something it seems NSBT is performing contrary to what is described in the documentations. just because there exists arbitrage opportunities where you can still make profit due to the market's lag in catching up, doesnt explain away why the documentation seems to contradict the current NSBT situation. again thanks for anyone who can help me better understand, i find this project fascinatiing

Well, as I’ve mentioned, you got the idea right, but it’s irrelevant in the current situation, so let’s say you mint NSBT to sell it at a higher price on the market in the future (and not liquidate it at $1) It still helps to stabilize USDN, but not immediately when BR <1.

but can you help me understand why would a person mint NSBT as a long term investment if we disregard the arbitrage profits one might be able to make due to the market lag. im assuming that a lot of people minted NSBT when the price was low and closer to $1. maybe they have it staked up and is not withdrawing, but even with penalty at current market price of $25 they can still profit, but lets just assumes the majority have their NSBT tied up in staking decreasing the supply. isnt it logical to believe that as time passes and NSBT unstake penalty for these people decrease, we can logically assume more and more NSBT supply will go into the market. thus it might be reasonable to assume the long term trend of NSBT price will go down compare to its current $30 price. so why would someone mint NSBT now (in large volume and as long term investment). the only incentives i see now for NSBT is just short term arbitrage on market

>so why would someone mint NSBT now (in large volume and as long term investment). the only incentives i see now for NSBT is just short term arbitrage on market Once again, you got the idea right. At the current price on the contract, this doesn't make sense, since you can buy NSBT on the market cheaper.

ya but current price is at an insane price/future project earning ratio. but i guess i can see the point. also current site shows earning stats for the year of 2021. is there another page that shows more relevant info such as swap earnings base on past 30 days (like it was shown in your docs), or based on the most recent 24 hour reward period, instead of the one that shows 2021 stats?

Here you can find all neutrino stats and more: http://dev.pywaves.org/nsbt

earnings of gNSBT since new staking contract 3,56 per token: @NSBT_is_THE_SHIT_bot

so that is like 1% apy?