NuBits are advertised as stable-value cryptocurrencies issued by a DAO marketed under the same name. Shareholders achieve stability in NuBits by placing buy and sell orders at $1.00 using revenue from NuBit sales kept in external cryptoassets (such as Bitcoin). NuBits (NBT) is a decentralised closed-source cryptocurrency launched in late 2014 by Peercoin developer Jordan Lee. Unlike most other cryptocurrencies, NuBit coins are not mined, but rather issued by the project’s shareholders whose primary goal is to maintain a 1:1 NuBit peg to the US dollar. In the case of hyperinflation of the US dollar, the shareholders can vote to peg NuBits to a different currency or to a basket of commodities. By creating more coins to keep prices down and by increasing interest rates on parked coins to restrict supply, the NuBit projects hopes to have created a stable cryptocurrency with limited volatility.
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