You will have seen the updates from Jeff on the amalgamation of core funds and the set up of the new core wallets. Another step in the preparation for next year. There has also been considerable thought given to NIS1 alongside the preparation for Symbol launch.
Whilst most of the focus and effort has rightly centred on getting Symbol ready, NIS1 remains a critical part of NEM’s future. Initially there are 3 key areas to build on;
The Creation of a Dedicated Trust to Invest in NIS1.
This will start with 35m XEM, which has been transferred from the old NF Trust. The funds are for the exclusive use of developing NIS1 and the NEM community.
The Extension of the Product Life of the NIS1 platform.
Kristy will be sharing her initial technical focus for NIS1. The first step will be to conduct a review of the chain to calibrate the platform after some time without a major update and to inform that roadmap for NIS1 that fixes, improves and enhances its performance and longevity. We would then share the recommendation with the community for input and a decision on the technical roadmap for the rest of 2021. We expect to allocate full time product and technical management to drive this alongside community contributions wherever available.
The Supernode Reward Programme.
This needs to incentivise long-term participation in running NIS1 nodes. There will be additional transfer of funds into the reserve supernode rewards wallet. Given the 6 year support that we have pledged to keep NIS1 going, a supernode reward programme needs to be consistent with that long term goal. The exact tokenomics of how best to deploy those funds will be subject to consultation and a vote early in the New Year. As Jeff mentioned in his updates over the past few days core are currently discussing the top up options. The current funding is sufficient until late summer 2020 already, so decisions will be made collectively by then at the very latest.
NEM in 2021 will be a 2-chain project and managing NIS1 alongside Symbol is hugely important to sustaining a successful NEM ecosystem.