NEM (XEM) Cryptocurrency Economic Model and General Information

What does it do?

NEM is the Smart Asset blockchain for managing data.

Key Features

  • Consensus mechanism and Supernode program ensure that NEM is open, public and can grow with no impact on throughput or stability
  • Existing business logic code can easily use blockchain where it’s strongest
  • Smart Asset system allows modular customization for virtually any application.
  • Eigentrust++ and an incentivized public node network based on its two-tier architecture makes NEM a secure and stable platform

General information

Company NameNEM.io Foundation Ltd
Incorporation dateDecember 1, 2016
Incorporation Address57, Mohamed Sultan Road#01-05Sultan-LinkSingapore, 238997
Websitehttps://nem.io/
Bloghttps://blog.nem.io/
Phone1800-777-1992

Economic details

Crypto CurrencyPrice (Euro)24H % Change
XEM
0.07-8.45%

Initial Funding & Distribution
TickerXEM
Token TypeCryptocurrency
Total Supply Given Away/Sold to Initial Stakeholder8 999 999 999 XEM was distributed to initial stakeholders and to several multi-signature secured funds
Total Amount RaisedInitial fund raising = 66.2 BTC + 419,697 NXT (minus some refund)
Price During the Crowdsalen/a
Hard Capn/a
Whitepaperhttps://whitepaperdatabase.com/nem-whitepaper/
https://nem.io/wp-content/themes/nem/files/NEM_techRef.pdf
Token Distribution73.84% (6 645 719 692 XEM) were claimed by stakers
26.16% (2 354 280 307 XEM) were unclaimed and transferred to Sustainability Fund
Sustainability Fund (Unclaimed Stakes) Distribution37% NEM Sustainable Ecosystem Loop Fund (NEMSELF)
14% Mobile Application and NCC Development
13% Community Fund
9% NIS Node Rewards
9% Silver Coins for Distribution to Stakeholders
9% Unconventional Marketing
9% Operational Costs Fund II
Distribution of Funds raisedno info
Call for Participation DateOctober 4, 2014
Sources: https://docs.google.com/document/d/1TKTIakxUEotmTN4Et80EI7d-8XifgFZ4aBUGAukgLfY/edit#
https://forum.nem.io/t/not-claiming-nemstake-why-it-is-no-longer-possible-and-the-history-of-the-process/2859
Source: https://nemnodes.org/richlist/
Source: https://blog.nem.io/faq-en/

Social Media

Team

 TitleNameLinkedin
President & Head of North AmericaAlexandra Tinsman
Executive SecretaryJason Lee
Treasurer / Head of Middle EastDona Rinon
Council Member / CofounderJeff McDonald
Founding MemberLon Wong
Founding MemberKailin O'Donnell
Founding MemberErik Van Himbergen
Founding MemberLeon Yeoh
Founding MemberKristof Van de Reck
Founding MemberRonel Li
Founding MemberKen Chan
Founding MemberClayton Bittle

Development

Total number of Commits11 276 Commits (32 Repositories)

Partners

Tech Bureau Corp. – a cryptocurrency and blockchain development company.

Dragonfly Fintech – a blockchain solution, providing a platform service for local or international payments and settlements. Long Wong is the founder and CEO at this firm.

Altaura Blockchain – a leading technology company that specializes in development, integration and maintenance of Blockchain.

Blockchain Global – a company that provides various service for blockchai companies to grow.

Kchain – a blockchain consulting company based in South Korea.

LuxTag – a company that provides digitized certificates via Blockchain to owners of the assets. Jeff McDonald is the founder of this firm.

Sumeru Inc. – a global consulting company that provides services in cyber security, data analytics and cloud based solutions.

dtk.io – a framework for managing IT tasks and workflows.

Asta Solutions – Australian company providing end-to-end IT services.

RapidQube – a company focusing on next generation, disruptive technology solutions leveraging a range of blockchain platforms and the associated front-end, middleware and back-end technologies that bring a complete blockchain ecosystem to life.

Zeus Exchange – bridge global financial markets and crypto.

He3Labs – a technology consultancy and development firm. Clayton Bittle is the Board Director at this firm.

iCentric – an integrated, full service digital agency.

Competitors

ARK – a sandbox that provides users, developers and startups with blockchain technologies.

AION – a platform for building decentralized applications.

Ethereum – a decentralized platform that runs smart contracts and it allows developers to create their own decentralize application.

NEO – a smart economy platform where users can digitize assets using the decentralized network of blockchain technology and digital identity.

Lisk – a blockchain application platform that helps developers to build blockchain applications and deploy their own sidechain linked to List network.

Komodo – end-to-end blockchain infrastructure solution provider. It features a multi-chain architecture which provides each project with independent infrastructure and dedicated blockchain.

Potential market and clients

The potential in growth depends on how high the demand of digitizing assets will be in the future.

Utility and economic dynamics

  • Fees for transactions are paid in XEM
  • User must hold at least 10 000 XEM in order to harvest(earn interest)