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Author Topic: [NEM] NEMstake tokens are listed on Nxt asset exchange  (Read 73828 times)
utopianfuture
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May 19, 2014, 08:34:34 PM
 #1

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.

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.

-------------------------------------------------------------------
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.
--------------------------------------------------------------------

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

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May 19, 2014, 08:56:58 PM
 #2

The argument that smaller amounts could be traded pre-launch, thus allowing more people to come in early pretty much convinced me. Launching an asset on another platform would also give lots of exposure in the cryptoworld. Also what would be the alternative? Wait till nemesis and only do an auction before hand?

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May 19, 2014, 09:02:13 PM
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I like the idea!  Smiley

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May 19, 2014, 09:03:47 PM
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I would choose to do it via NXT.

They have a better and faster blockhain and an easy to use interface which keeps getting better and better. In comparison to his competitors.
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May 19, 2014, 09:04:29 PM
 #5

Sianotes did pretty good on their pre-IPO tokens on Nxt AE. Why not try it? It will be a place for people to trade NEM in the future any way.
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May 19, 2014, 09:09:06 PM
 #6

+1, in Nxt AE.
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May 19, 2014, 09:10:16 PM
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Sounds like a good idea.

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May 19, 2014, 09:19:02 PM
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Sianotes did pretty good on their pre-IPO tokens on Nxt AE. Why not try it? It will be a place for people to trade NEM in the future any way.

Sia reached their goal in about 2 days on Nxt AE.  I would love to see NEM shares on Nxt AE. I'd buy some and it helps those that missed out get a share.
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May 19, 2014, 09:19:34 PM
 #9

Sure, I'm tired waiting for the launch

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May 19, 2014, 09:19:52 PM
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+1 Nxt AE
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May 19, 2014, 09:28:00 PM
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Yes, it would be great if you knock it off on Nxt AE.
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May 19, 2014, 09:30:20 PM
 #12

Sianotes did pretty good on their pre-IPO tokens on Nxt AE. Why not try it? It will be a place for people to trade NEM in the future any way.

Sia reached their goal in about 2 days on Nxt AE.  I would love to see NEM shares on Nxt AE. I'd buy some and it helps those that missed out get a share.

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 NEm stake ownership from my Google sheet to Nxt asset exchange.

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May 19, 2014, 09:34:47 PM
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Do it.
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May 19, 2014, 09:36:31 PM
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Sianotes did pretty good on their pre-IPO tokens on Nxt AE. Why not try it? It will be a place for people to trade NEM in the future any way.

Sia reached their goal in about 2 days on Nxt AE.  I would love to see NEM shares on Nxt AE. I'd buy some and it helps those that missed out get a share.

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 NEm stake ownership from my Google sheet to Nxt asset exchange.

Would it be against rules for a current stakeholder to acquire more NEM on Nxt AE?
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May 19, 2014, 09:45:11 PM
 #15

i am so sad that i send my btc to NEM's official wallet address ,but this is my mistake , can i take it back

https://bitcointalk.org/index.php?topic=450200.msg6450801#msg6450801
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May 19, 2014, 09:52:10 PM
 #16

+1
Good idea to issue NEM stake tokens via nxt AE  Smiley
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May 19, 2014, 10:12:33 PM
 #17

+1 like it! Grin
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May 19, 2014, 11:13:03 PM
 #18

Very good idea. 1 NEM = 1 token

This is brilliant!!
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May 19, 2014, 11:14:23 PM
 #19

Like it!

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May 20, 2014, 12:15:06 AM
 #20

Someone need to explain this is GREAT detail on the NEM thread. Its not getting much attention as it should. Someone just make a big post about it and make sure people know that utopians thread that was started. I would do it, I just think someone else can break it down better than me.

This is such an awesome idea!!!
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