My name is Yu Kimura.
I’m a university student in Japan.
My twitter: @ltd_exp_kyu
A few days ago, I had delusions that if there are NEM mosaics which are pegged with legal currencies, like tether in NEM, how useful NEM is.
To suppress my intention, I searched projects like to my delusions.
As a result, I found a few projects which have a purpose of issuing pegged NEM mosaics.
However, I feel that these projects can’t wipe out Counterparty risks!
Why I feel so?
The answer is this:
Issuing pegged mosaics can’t make many profits as long as the issuer keep capital for pegging with safe. However, They are developing an exclusive wallet although NEM official wallet exists, and they did ICO.
To return profits to token owners, and to develop and sustain the exclusive wallet, they have to make much money with their tasks.
The only way to make many profits with tasks of issuing pegged NEM mosaic is to take some risks. For example, investing money which they must keep with safe for the purpose of pegging.
Otherwise, to run away with capitals got from ICO…?
Anyway, because of these reasons, I feel there are Counterparty risks in these projects.
After I noticed this fact, I decided to found a none-counterparty-risk foundation who is an issuer of pegged NEM mosaics.
Then, I recruited members in Twitter. As a result, three people excluding me came.
We are starting activities to found LCNEM foundation.
This is our website. It is in production now.
We published a whitepaper, which explain our ideas with easy Economics theory.
But now there is a Japanese whitepaper only. We are translating to english now. Just a moment.
Sometime soon, we want to propose “NEM community fund proposal” to get working capital, and want to contribute to NEM.
Purposes of posting this topic is to let many people to know this project, and to recruit some collaborators. I’m waiting for you in my twitter.
Thank you for your reading