Silvercoin/Supernode Fund

I didn’t have a chance to mention this in my policy docs. I’ve been consulting with a few original stakeholders about what should be done with the Silvercoin fund. Obviously there are conflicting views but to be honest I don’t think this is an issue that council should have governance over. It should be put to a vote amongst the original stakeholder wallets that can be found in the Nemesis block to vote on what happens to that fund.
Some feel its their money and they want it, some feel that they have done very well with NEM and it should be rolled into the Supernode fund to keep incentives going.
The original holders should be the ones to decide and vote on the appropriate procedures. Council can facilitate and assist.
Sorry about not including this in my policy docs, (been a busy few days) and I think everyone running should offer an opinion on it.
Have a great Friday!


Thanks for this, it would be nice to put this to rest once and for all.

It’s been somewhat of a pain point over the years …


You’ve been busy meanwhile posting daily on this forum since you’ve announced your candidacy?

Maybe because you’ve read it in my policy docs and had to research it? :smiley:
Sorry, it’s a bit funny, but I feel good that I influenced another NEM Foundation member to look outside their duties and acknowledge REAL problems of the community. Maybe we will be able to change it together. :v:

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Sorry to disappoint you @tongokongo , I haven’t read through your documents. I have friends who are initial stakeholders and they have raised this issue with me. I’ve made posts on here but I have genuinely forgotten to add it to my policy docs.
Whatever way it came to my attention, I would hope that candidates refrain from attacking one another and instead try to work together to make NEM better rather than scoring ‘gotcha’ points. It doesn’t get us anywhere, but back to where we were.
I agree with your final statement that I hope we can work together to change it.
Have a wonderful Friday.


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This question returns every now and then.
I’ve been against silver coin fund since day 1; I remember discussing about that with Lon and Makoto.

Please, new councile members, take all the coins from it and move them to the supernode fund!


Thanks for your input. This is one of the options for sure.

when these will be for vote?
I think that must have a vote for that ASAP

I’m not sure when the vote would be. The election needs to happen first and the new council voted in. I would hope not long after the new council is established, that consultations with the original stakeholders take place.
We can’t move forward with anything until after the election is over.
Kind regards,

It’s not an option. Are you an original stakeholder?
Cause I am not and I won’t have even a fraction of vote when deciding what to do with the fund.
As a council member I will just assure FAIR vote session, but I won’t influence any decision. I guess stakeholders are mostly grown-ups that follows NEM news. There is no need for patronizing them.

That’s not what was said. It was one of the options that the original stakeholders could vote on that was communicated to me. I’m terribly sorry, @tongokongo if I didn’t explain clearly enough and that it could have led to a misunderstanding like that.
It’s up to the original stakeholders to vote and decode and the council’s job to set it up and facilitate for them.
I have never and will never patronize original stakeholders.

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Great, let’s settle it than! I must have misunderstood.

I think that these must have solution asap

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Fantastic! I do apologie, I get caught up in words sometimes so will make it more clear. Can’t wait-if elected - to work together on this.
Cheers, L

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Well but what happen to original stakeholders who do not have the original account anymore. E.g. I am the original stakeholder but after genesis block I sent my whole stake to another account and I do not have private key from original account anymore. I hope that I still will be ablo to vote. Because on blockchain is proof that I was the original stakeholder.

any link to see the original stakeholder?

Stakeholder transactions are ones with 2 250 000 XEMs sent.

imo current stakeholders have more of a say than original stake holders.

Although silver coins were the plan in the beginning, it never happened, and a very large number of those original stake holders can be assumed to no longer be stake holders. The ones that are left, are current stake holders. Additionally, some or perhaps a lot of those original keys could be lost, even if the stake holder remains a stake holder with a different account.

Why should non stake holders + a very small minority of current stake holders have more of a say than the total current stake holders, who no doubt far exceed the former group in number and vested interest?

Also, is it still the best use of the funds? If this fund is also considered “community money”, which it should be imo, the community should put forward various proposals as to how it or a part or parts of it should be utilized prior to implementing the silver coin plan. It probably shouldn’t go to vote publicly but rather let the core devs select the best proposal(s). If it goes to vote its highly likely that what ever best financially benefits everyone will win the vote, and its very possible that something doesn’t really help nem at all.


The SilverCoin Fund was allotted for original stakeholders and should be given to original stakeholders period.

They should be given the opportunity to put forth options on what to do with it and then vote on it.

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IMHO easiest would be just split the funds for 2 or 3 way:

1/3 to original holders = happy people
1/3 to the super node fund = happy SN owners
1/3 to hiring devs etc = happy community


these good solution

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