LuxTag and NEM Foundation memberships


This is Rene, CEO of LuxTag.
LuxTag has given away bonus payments for memberships to the NEM Foundation for some of its employees (paid out from the official LuxTag NEM Wallet NB4JQQXBK37Q6VT4KJRY7ZKIPHB2OY7KLPDFBNNJ).
This has come about for a few reasons. We at LuxTag are big believers of the NEM blockchain. As you may well know, one of our co-founders, Jeff McDonald was also the co-founder of the foundation. We have also launched three product lines on the public chain including DeFeet, Chronoswiss and Poesy Liang, which will be further announced soon with at least three more projects to follow soon. The latter will go into full production still this year. We encourage our employees to know as much about NEM as possible, invest in XEM if they feel like it. And now they have a chance to be a part of the NEM Foundation if they choose to.

The average minimum salary in Malaysia is around USD 400-500 a month. We at LuxTag have implemented a minimum monthly wage at $725, but regardless, $50 is still a strain on some of our employees. Some of our employees expressed the interest in having a NEM Foundation membership but explained that the entry fee was too high. It was at that point we decided to offer a bonus to LuxTag employees. We have 23 full-time employees and 6 part-timers. We offered them a chance to be members of the foundation if they choose to. Of our employees, up to now, eleven took up this offer. They were explicitly told that sponsoring their membership was in no way related to how they would vote and they were all encouraged to do their own research and vote for who they thought is the best candidate.

We are proud that several of our employees have chosen to learn so much about NEM, be members of the NEM Foundation.

07/NOV/2018 -

Foundation FAQ (Core Dev Perspective)

Excuse me. Did you suggest how them to vote?



But… in case I decided to last-minute apply for a council position… I guess they might consider supporting me - in case they “like their jobs” … #sarcasm_intended :grinning:


Jokes aside … @Alex_Sorokin … At this moment, I have no intention to register for council member position.


@r3n3 appreciate the transparency but I don’t agree we should be paying people to become members. As you state if the $50 is too high, which I believe it is, then this should be fed back to the FC and a change made wholesale.


@KingCole as far as I know 50$ is written in by-laws and can’t be changed right now.


I don’t see a problem here. You have every right to provide incentives to your employees.

Even if you are running for council, I do not see any issues because real people and real person and real intentions are behind these transactions. I don’t want to compare this with Nelson’s transactions to wallets with no identity behind.

All the best :slight_smile:


Noted - in the future we’ll do that.
I believe the next foundation council will be efficient enough to process such request in timely manner :wink:
… Actually, I suggest to have foundation country chapters and have them set locally acceptable per-country membership fees. In Singapore, everything costs 3x more than in Malaysia. Our pricing for Malaysia should US$ 17.00.


In the UK the minimum amount for pretty much anything in legal terms, including membership of a Co-operative, is £1


Even to open an company there the minimum base capital required is £1.