Re: NEM Official Thread - Beta is almost here[Updates & Discussion]

Some minor changes have been added to the newsletter.

Did anyone read this ?
This thread was filled with the discussion regarding a longer redemption period for a week and now an announcement regarding that doesn't even spark any reaction ?

Let me post the direct link then: https://medium.com/@xtester/extended-redemption-period-d6e7ceaf3a53

that's shocking.. Soo many people kicked up a stink over the unclaimed and now that a solution is put into practice by the devs.. No one can even say thank you...

I just caught this post now. The devs did well.

Basically if somebody didn't claim their token during the regular period then after launch, redemption will be possible for 3 further months. During this period, redemption will happen with reduced equivalences for NEM stakes.

during the 1st month after launch: 1 NEM stake is worth 750 000 NEM
during the 2nd month after launch: 1 NEM stake is worth 500 000 NEM
during the 3rd month after launch: 1 NEM stake is worth 250 000 NEM
As soon as the 3 months are over, not a single NEM stake will be able to be redeemed and remaining NEMs will be available for NEM development.

This will have given a person more than 4 months to get on board with claiming their NEM. More than a month pre-genesis and many months after. After launch the volume of conversations about NEM will go up, maybe a few people that signed up and forgot will have their memories rekindled and will come join us. For the most part, I doubt it will be an issue.

On time = 1 000 000 NEM?

If yes, how long will take launch time (no penalty time).