Just found out about XEM, so maybe my question is too obvious. But here it is
As far as I understood a user who creates mosaic/namespace has to pay the following fee (please let me know if the fee amount is wrong):
| Entity | Fee XEM |
|---|---|
| root namespace | 100 |
| subnamespace | 10 |
| mosaic | 10 |
Who will get this fee? Is this a harverster who created the block which has this transaction? If so, can anyone give me an example of such transaction (for namespace/mosaic)?
The fees go into a sink address. It has not been determined yet what the XEM will be used for.
thx Saul. Do you know who controls this sink address (is this actually one address or a set of addresses) and what is the actual address of this address? Also do you by any chance have an example of the transaction which created namespace/mosaic to see how the fee is transferred to this address?
Also the idea that the fees for a very important operation goes to one entity looks very much like a bank. Is there any roadmap to determine how this fund will be spent?
You can see the sink address when you create a namespace.
You can look at the transactions here:
http://explorer.ournem.com/#/s_account?account=NAMESP-ACEWH4-MKFMBC-VFERDP-OOP4FK-7MTBXD-PZZA
I am not sure what will happen to the funds, that is probably something for the foundation to decide. The funds are currently being held in a 5 cosigner multisig account. The cosigners are all trusted members and developers.
How about the ‘rental fee’ 100 XEM. What is the duration in which the namespace is rented? Is that monthly, yearly, or multiple years?
The period is one year.
After that it needs to be renewed similar to domain names on the web.
