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[NEM] NEMstake tokens are listed on Nxt asset exchange May 19, 2014, 08:34:34 PM

Last edit: June 12, 2014, 11:40:19 PM by utopianfuture #1



Link to the official discussion/ update thread



For current NEM stakeholders, if you want to have NEM stake asset tokens issued which are convertible to Nemcoin after we launch, then saying something here. It will be via Nxt asset exchange. If there are a lot of demand then we will issue the asset tokens. If you want to issue tokens via counter party protocol, we can do it too if there are high demand form current stakeholders.



The rules will be made clearer if there is indeed a big demand to issue tokens.



Add: I should make it clearer that current stakeholders could be issued the tokens on demand, but it is not for selling more NEM shares. Technically it is a temporary transfer of NEM stake ownership from my Google sheet to Nxt asset exchange.



UPDATE: 5/20/2014



We will be issuing temporary NEMstake tokens on Nxt asset exchange per request of the current NEM stakeholders (optional). Please read the rules for requesting NEMstake tokens carefully



--------------------------------------------------------------



1. Each current NEM stakeholder could request to receive one NEMstake token.



2. One token represents one stake (1 million NEM) receivable after the official launch of NEM blockchain and can be traded down to one digit after zero (smallest trading unit is 1/10 of a stake).



3. Conversion of NEMstake tokens to NEM: Owners of NEMstake tokens need to send the total amount of tokens he owns back to the issuer (my issuing account) and put his NEM address in the "comment" field of the transaction to receive the corresponding amount of NEM in the receiving address. Caution: you could lose your share if you don't put in the correct NEM address in the "comment" field.



4. The conversion process will start 2 weeks after the official launch to ensure an orderly distribution of NEM to all stakeholders.



5. There will be a maximum of 1000 NEMstake tokens issued. So if you want to have a NEMstake token on the Nxt asset exchange you should request it before the supply is running out. But if you don't want the token and want to receive NEM on the official launch, you should not request NEMstake token. If you are not comfortable with Nxt asset exchange, you should not request NEMstake tokens.



6. NEM development team will not sell or buy any amount of NEMstake token in the asset exchange. Therefore we are not responsible for any price movement of NEMstake tokens. NEM development team will hold NEM stake auction in the Bitcoin blockchain in a later date (see the rules in the update page); so the auction is other alternative if you want to buy into NEM before the official launch.



7. NEM development team will not be responsible for the loss of tokens or the loss of access to an account of any token owner in Nxt asset exchange.



8. NEMstake tokens will expire and has no more conversion power after the completion of V1 blockchain (about 2 months after the official launch). All NEMstake tokens will be destroyed by sending them back to Nxt genesis block.



9. Additional conversion condition: A maximum of 2 NEMstake tokens will be allowed to convert to NEM per one NXT account (with one unique NEM receiving account). That means if one account sends more than 2 NEMstake tokens back to the issuer account for NEM, he will receive the cap for that account of 2 million NEM. This hopefully will partly discourage an early concentration of NEM in a few accounts.



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If you want to request a token, please send me a PM with your Nxt account saying so. Then I will put you in this separate tab in the final stake holder list



https://docs.google.com/spreadsheet/ccc?key=0AlidWok7hW0DdFRROFFGVUpwcFFXcHVCdGc0a3NuQVE&usp=drive_web#gid=14



When there is a minimum of 100 requests, I will officially issue the token and send them to your accounts. Asset Ticker and Issuer account will be announced later when the tokens are issued. Thanks.



We will also issue a portion of NEMstake in other platform such XCP or Mastercoin if there are at least 100 requests from the current stakeholders.

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Update 5/24/2014



ASSET NAME : NEMstake



ACCOUNT : NXT-J62B-CNAR-34YW-4RCFN



ASSET ID : 12465186738101000735



ISSUING TIME: 5/30/2014 at 12.00 GMT or 7.00 A.M EST



Development contract. Read it first.



https://docs.google.com/document/d/19so-Jy3Gqw2KltZP-gaw3oFaHliN0OdtwZktOP4pCOQ/edit Following stakeholder's requests, NEM stake tokens have been issued and will be sent to current stakeholders on demand.Link to the official discussion/ update thread https://bitcointalk.org/index.php?topic=426303.0 For current NEM stakeholders, if you want to have NEM stake asset tokens issued which are convertible to Nemcoin after we launch, then saying something here. It will be via Nxt asset exchange. If there are a lot of demand then we will issue the asset tokens. If you want to issue tokens via counter party protocol, we can do it too if there are high demand form current stakeholders.The rules will be made clearer if there is indeed a big demand to issue tokens.UPDATE: 5/20/2014We will be issuing temporary NEMstake tokens on Nxt asset exchange per request of the current NEM stakeholders (optional). Please read the rules for requesting NEMstake tokens carefully--------------------------------------------------------------1. Each current NEM stakeholder could request to receive one NEMstake token.2. One token represents one stake (1 million NEM) receivable after the official launch of NEM blockchain and can be traded down to one digit after zero (smallest trading unit is 1/10 of a stake).3. Conversion of NEMstake tokens to NEM: Owners of NEMstake tokens need to send the total amount of tokens he owns back to the issuer (my issuing account) and put his NEM address in the "comment" field of the transaction to receive the corresponding amount of NEM in the receiving address. Caution: you could lose your share if you don't put in the correct NEM address in the "comment" field.4. The conversion process will start 2 weeks after the official launch to ensure an orderly distribution of NEM to all stakeholders.5. There will be a maximum of 1000 NEMstake tokens issued. So if you want to have a NEMstake token on the Nxt asset exchange you should request it before the supply is running out. But if you don't want the token and want to receive NEM on the official launch, you should not request NEMstake token. If you are not comfortable with Nxt asset exchange, you should not request NEMstake tokens.6. NEM development team will not sell or buy any amount of NEMstake token in the asset exchange. Therefore we are not responsible for any price movement of NEMstake tokens. NEM development team will hold NEM stake auction in the Bitcoin blockchain in a later date (see the rules in the update page); so the auction is other alternative if you want to buy into NEM before the official launch.7. NEM development team will not be responsible for the loss of tokens or the loss of access to an account of any token owner in Nxt asset exchange.8. NEMstake tokens will expire and has no more conversion power after the completion of V1 blockchain (about 2 months after the official launch). All NEMstake tokens will be destroyed by sending them back to Nxt genesis block.-------------------------------------------------------------------If you want to request a token, please send me a PM with your Nxt account saying so. Then I will put you in this separate tab in the final stake holder listWhen there is a minimum of 100 requests, I will officially issue the token and send them to your accounts. Asset Ticker and Issuer account will be announced later when the tokens are issued. Thanks.We will also issue a portion of NEMstake in other platform such XCP or Mastercoin if there are at least 100 requests from the current stakeholders.--------------------------------------------------------------------Update 5/24/2014