any news from nem foundation?
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We are quiet again @@…
After much contemplation and many drinks, I think the Migration Committee has made a good decision for the migration—a snapshot with the flexibility to choose when your token will be allocated to your wallet.
There’s a couple of things I’m really concerned with regarding the decision that unclaimed tokens will be in control of a legal entity:
- An increased concentration of control of the new currency (in comparison to XEM).
- Value dilution due to increased number of available stock (in comparison to XEM). Think of the lost and unclaimed XEMs that will then be in the hand of the aforementioned legal entity.
There’s little that we, the token holders, can do about these issues.
- We just have to take it in and put trust in the legal entity to handle the stock responsibly.
- Would the Committee be so kind to be transparent about how many tokens are remain unclaimed after the migration? And maybe also on how these tokens will be spent?
Thank you for all of your hard work. 
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If you don’t mind giving central authority that much trust with coins then my idea of a 2-way bridge with 1 wallet on each chain acting as a bank is the easiest and best way to go. Functional XEM supply will remain 9 billion and we can keep 1 market and 1 ticker. No issues with migration and people can move coins between chains whenever they want. No tax issues at all either.
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With all due respect, but you’re littering the thread. It has discouraged me from following/reading this thread.
I presume this legal entity will have control of all unclaimed stakes from NIS1 genesis block? Please confirm.
Or will it only be addresses that were/are active in NIS1?
I would also like transparency on how much XEM is within this legal entity, where they came from, and where they are destined to including all the addresses and transactions.
If any positive use can be made of the remaining funds after opt-in period is over, then there should be a community vote on what it should be spent on.
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Hi all, this is not a small task. At the end of the day something has to happen. Doing nothing or being stuck in Analysis paralysis is just gone make things worse.
At the end off the day, there are many possible implementations of a solutions to a given problem. As a professional Developer with experience behind my belt, it is never easy to just come up with an idea and implement it, there are always unknown risks that will pop up. Like economics there are some many variables involved it is hard to predict the outcome or effect.
Best is to stay the course and finish something workable and implementable.
At the end of the day I put more trust in the people/resources that have everyday and hands on experience in the subject as they have thought the most about the scenarios and possible outcomes.
I hope the migration committee runs a couple of test scenarios at the least and matches the results against expected outcomes.
Also core devs need to review this implementation and how it will be implemented and raise some risk , where applicable. (I believe this has already happened ?)
At the end of the day trust in the old chain and new should be maintained and I believe that is what the committee is trying to achieve.
To all the people working on this and putting in their intellectual sweat, thank you for your time, your concern and your passions.
The approach you all have been taking so far is a wise one. Coming up with a strategy, getting input from parties and then re assessing based on data received.
Just a slight word of caution, if we need more time, take it. Rushing just for the sake of a deadline never end well, but in the same breath, no time wasting, time prudence
should always apply.
The plans of the diligent lead surely to advantage, But everyone who is hasty comes surely to poverty.
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I want to ask people who are thinking about alternative proposal.
Why do not discuss in NEM2Slack?
There is no conversation on the #migration channel.
Please talk specifically.
I think the decision of the migration committee is the best.(Considering tax)
NEM Foundation promises that the catapult release date is due in Q3.
Please decide as soon as possible.
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How will the collected Namespace and Mosaic fees be used after Catapult? Until now, it is only stored at a certain address, and its purpose has not been clarified.
Namespace:NAMESPACEWH4MKFMBCVFERDPOOP4FK7MTBXDPZZA
Mosaic: NBMOSAICOD4F54EE5CDMR23CCBGOAM2XSIUX6TRS
I think these should be systematically returned to the ecosystem, for example as one of the harvest rewards.If that is possible.
Are those addresses going to be allocated at Catapult? If so, the fee might had better reimbursed to the allocated Namespace owner who has a renewal deadline in NIS1.
Anyway, I want to know
・ How to care for the stored Namespase and Mosaic fees (NIS1)
・ How will the new Namespase and Mosaic fee be used after catapult started
Please clarify. Thank you.
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How is further support of NIS1 planned? Both in terms of further development and marketing?
For a longer period of time.
thx
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Okay, so there is only 1 snapshot that matters. The way it was written that wasn’t obvious and it sounded like the opt-in could literally occur at any point after the fork. In that case I agree you cannot game this since there is no possibility to make a claim later. But what if someone sends me old XEM on NIS1 after the snapshot? I cannot get my catapult tokens unless they send me corresponding catapult tokens on the catapult chain? This makes old XEM truly worthless as it isn’t even redeemable for catapult XEM by a new owner after the snapshot. Therefore it is imperative to preserve the old XEM markets.
https://tutuapp.uno/ , https://9apps.ooo/ , https://showbox.kim/
It’s simple. After the snapshot, you request payments in new catapult tokens instead of XEM
- Do I have to swap my NEM (XEM) hodlings in the Nanowallet? Howto?
- Do I have to swap my NEM (XEM) hodlings in the Paperwallet? Howto?
Instructions will be forthcoming, it is not a swap but an allocation.
When can we expect the next update?
No that isn’t right. If you have an account with some xem in it at the fork block, but did not opt in in time, you can still come back and claim the catapult tokens, because your account had a certain balance at the block height.
If instead of opting in, you send those tokens to another account after the block height, that new account won’t have a valid claim on catapult tokens, but the original account still would.
It’s the state of accounts at the fork block that matters, not what happens before or after it. Anyone who had xem at the fork block height, has a valid claim to the amount of xem they had at that point in time. When users make that claim is completely up to them.
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If you optin after the snapshot only the amount on that account at the snapshot counts. You can do wathever you want after the snapshot, but the amount on your account at the snapshot count. So if your account sends or recieves the coins after the snapshot, it doesnt count because the amount at the snapshot counts
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