Much to my surprise, NFD's low ask is now 3. So, I'm adjusting the NFDSupeNet orderpair in accordance with this new denominator. For example: if Nxt is selling at 5310 satoshis, the implied price of NFD in Nxt terms is 1'770 Nxt per NFD when NFD's low ask is 3. That's why the offer and the buyback bid - both of them - have been lowered so much just now. Part of the recent lowering has been due to the decline in Supernet, but most of it is due to the rise in the denominator. To remind you, the ordepair formula is:Offer: Supernet low ask price in Nxt / [(Nxt's implied price in NFD terms) * 100]
(because 10'000 units of NFDSupeNet are backed by 100.1 Supernet, making each unit of NFDSupeNet exchangeable for 0.01001 UNITY.)
Or: [(Supernet low ask price in Nxt) * (Price of Nxt in satoshis)] / [(low ask for NFD in satoshis) * 100]
Buyback Bid: Supernet high bid price in Nxt / [(Nxt's implied price in NFD terms) * 100]
(because 10'000 units of NFDSupeNet are backed by 100.1 Supernet, making each unit of NFDSupeNet exchangeable for 0.01001 UNITY.)
Or: [(Supernet high bid price in Nxt) * (Price of Nxt in satoshis)] / [(low ask for NFD in satoshis) * 100]
So: if you see both the offer and the buyback bid and find they're much lower than what you remember, that's why. The main reason is that NFD's low ask has risen. And remember: you can send in your NFDSupeNet back to me at any time to redeem them for Supernet, and sell the Supernet itself on the Nxt AE or Bter if you want. There's no need to sell into my buyback bid.
