NEM Foundation Update - January 2019 (Part II)

Announcements NEM Foundation Updates
#8

There is an on going audit of funds internally controlled by the Foundation. Alex will make a summary report on it as to the community when the numbers are finalized. It’s been harder than she thought because all this month people put in claims going back some months that weren’t handled before.

Per bounties. As far as I know all community marketing bounties are on hold right now.

When they start back up, the person in charge should try to make it more clear and streamlined. That is a good suggestion.

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#9

Thanks for the vote of confidence, we are doing our level best to ensure all finance, reimbursements are activites are conducted with the highest standard possible. The teams gets on calls almost every day with different timezones to make sure we serve the community in the best way possible.

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#10

we need news for catapult day out

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#11

I agree with presenting the catapult roadmap, but I think that if the team is taking time to respond is because they are doing so so that the day that comes to light is perfect.:wink:

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#12

nem is blooding 1 year now from coin check hack one year ago

#13

every coin is going down :)). It s a beartrend,but you are right…
We need a catapult roadmap.and some good news.+marketing

#14

of course we have new council but nothing big until now

#15

be patient…
I m sure Alex and her team will made a good work.
We are waiting for a response/news from her :slight_smile:

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#16

There is a team working hard on this and there will be roadmap release, target is by end of Q1 2019.

Yes the aim is respond once a month if not twice a month or more.

Thanks for the concern @jelin1984, @eddy and @Gabi_Oproiu - we are pushing hard to ensure this is being prioritised - the catapult roadmap and news on it.

#17

better two comments per month than some nembers are posting nerviosos😊

#18

Catapult wont change much for nem (from price surge perspective). Current sentiment towards crypto is bearish. I am afraid it will stay that way before crypto offer real life practical implementation.

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#19

catapult will change a lot …simple that
at bear market NEM will be HOLD AS good coin
if not out soon …at bear market with BTC at 800 $ NEM IS DEAD
SIMPLE AS THAT

#20

Thanks for the update and look forward to building a better future at NEM together! Appreciate all the hard work from EXCO and Council Members!

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#21

Can we see the document where the money was spent in 2017, 2018? The fund is going to ask for funding. What were the funds spent in previous years? Point by point, in which organizations there were transactions. Can you confirm transactions with a document?
After all, the premises were rented for numerous meetings. can I see the amount for which the rent is made?
How much money did it take to create a NEM hub in Malaysia?

#22

First and foremost, Kudos on owning this. Not an easy position to be in; greatly appreciate that you’re tackling this head-on and keeping us in the loop.

Is there any chance that someone can do a full accounting of the funds set aside in the original developer contract? Which of these were used to fund the Foundation and what is the status of those that were not used for the foundation (i.e. how much remains)? As we look ahead, I think it would be really useful for us to better understand the state of NEM’s central funds as a whole, beyond the Foundation’s funds.

  • Marketing Fund (Launch/V1 Reward)
  • Operational Costs Fund I
  • Pre-V1 Fund
  • Post-V1 Fund
  • NIS Node Rewards
  • Silver Coins for Distribution to Stakeholders
  • Community Fund
  • Mobile Application and NCC Development
  • NEM Sustainable Ecosystem Loop Fund (NEMSELF)
  • Unconventional Marketing
  • Operational Costs Fund II
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#23

We are looking into it right now and will come to a conclusion, there are discussions done with the longstanding community members to ensure we are doing things the best way possible.

Thanks @missflora, appreciate it!

There will be an element of this that will be addressed, we need to focus on the key priority for now, which is ensuring that we NEM Foundation can continue to exist to support NEM and the launch of Catapult.

Agree, and we will be putting a lot of effort and intention into making sure that Catapult will be the difference!

What would be interesting to see is the real-world applications to the blockchain industry.

#24

Thanks @jason.lee - let me know if I can help! If I could get a raw dump of costs, funding pools, etc. I can help consolidate into something for the community… Loads of experience with enterprise scale data analysis & reconciliation, fluent with excel, and some financials experience.

Not proposing doing the foundation’s financials, but something at a higher level (i.e. original community fund $XEM, funded proposals and XEM amt, remaining XEM | Marketing fund, pre-foundation activities, amount allocated to the foundation | original developer funds, amount distributed in phase I, remaining amt)… Basically an overview of the public funds at day 1, what’s been used and for what (generally), and what’s left.

#25

Hi team!
Thanks for the update. Wish you good luck.

#26

Wow. That is telling!

#27

Thanks all, the proposal is up:

Full links:

  1. Forum Post: https://forum.nem.io/t/nem-foundation…
  2. Funding Proposal: http://bit.ly/NEMFoundationFundingPro…
  3. Video of Funding Proposal: http://bit.ly/NFVideoFundingProposal2019
  4. FAQ of Funding Proposal: http://bit.ly/FAQforFundingProposal2019
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