Core team wallet transfers

Announcements
#1

As previously discussed in this thread, the Core Team has been undergoing changes. I’m happy to report this is going well, and we will have more to announce on it early in the New Year.

As part of the Core Team’s evolution, we will be making some transactions, starting this weekend.

Starting on Sunday, those transactions coming up on the block explorer could trigger a whale alert.

We want you not to worry as these are just the Core Team amalgamating core funds as part of our preparation for the Symbol launch.

This wallet amalgamation means that we will create three new wallets and move existing core funds into them. The wallets are;

NewCoreWallet: NATRUSTUAB5LAWDSOWDUPQUFYRTGZTJZDGML2JKP

Reserves for Symbol block rewards: NBLOCKYZLCBVO2XF2DB3D74AE2RC5WSHX5JEZOID

Reserves for Supernode Fund: NANODESTSN7GU76QPLGMJ7BCGCAA2PHVBZZUUI62

We will communicate more information on precisely what we have done and why tomorrow or Monday, once the transactions are complete.

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NIS1 Strategy Approach
#2

Спасибо Вам большое за то что Вы продолжаете свою работу и держите всех Нас в курсе событий !!!

#3

A small update. The first round of transactions aggregating core funds has been initiated and are currently being signed.

A second batch of transactions will now be initiated aggregating funds from the smaller sub funds into a new address.

Budget Fund: NBUDGET25NFWA5AY4PYVLKLIVT5FUPEQO4JJEU44

For the time being, this batch will conclude the amalgamation of accounts.

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#4

We have successfully created three new wallets and have moved core funds into them as part of the amalgamation approach for the core team.

The reason behind the wallet amalgamation is to create a new core wallet to simplify the wallet structure for optin. The new approach to Core is still being finalized, but at the center of it will be a registered trust structure to ensure the funds have a legal wrapper to protect them for the development of the NEM ecosystem.

The reserves for the Symbol Block Rewards Fund have been allocated at the upper limit of the tokenomics proposal and is subject to a final community vote on which option is the preferred approach for Symbol rewards. We’re anticipating this vote will take place over the end of December or the first week of January 2021.

The third core wallet is a Supernode Reserve Fund for NIS1 supernode rewards. There are currently ongoing discussions on how to top this fund up and extend the life of NIS1 supernodes.

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#5

How will the XEM in Symbol Block Rewards Fund be used after the Symbol launch? Will it be locked?

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#6

While the XYM for that fund won’t be available to the core trust on the Symbol chain. The XEM will be available on the NIS1 fund. This is because NEM doesn’t have block rewards in the same way that Symbol does.

Therefore, they could be spent on various different things but it would not be surprising if they weren’t ever spent. The trust will welcome a dialogue with the community to discuss this in the months/years ahead.

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#7

I understood.
So, at this point, you(we) have not decided on any XEM uses within NBLOCKYZLCBVO2XF2DB3D74AE2RC5WSHX5JEZOID after Symbol loanch .

First we need to know the NIS1 roadmap. Then we can discuss it.

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#8

That makes sense.

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