NEM Redemption Process Starts Now


PLEASE NOTE YOU HAVE 1 MONTH TO REGISTER. ANYONE WHO FAILS TO REGISTER WITHIN A MONTH WILL NOT BE ABLE TO REDEEM THEIR STAKE.

Phase 1

This section applies only to stakeholders who have their stake on the BitcoinTalk forums instead of the NXT Asset Exchange. If you hold stakes on the NXT Asset Exchange, please skip ahead to Phase 2 - NXT Asset Exchange Stakeholders section below.

The first phase of redemption has already begun. We are currently sending out tokens to every stakeholder on BitcoinTalk via PM. Please be patient as this process will take some time to complete due to the messaging limit imposed on the BitcoinTalk forums. We will announce once ALL the tokens have been issued. If you have not received a token at this time, please let us know and we will attempt to resolve your issue.

Note that only original stakeholders who have not requested NEMStake on the NXT Asset Exchange will receive such a PM.

Please make sure you do not lose the token and keep your token secret!

We also suggest that you store the token somewhere other than BitcoinTalk. Just to be safe, it would be optimal to store your token somewhere else and then delete the PM. This way, if your account gets hacked or if you simply lose access to it, no one else will be able to access your token. Also, please be sure enable and allow cookies in your browser. The portal will not work properly without cookies and you may encounter problems when attempting to claim your stake.

Once you receive your token, visit the following website to register for your stake: https://chain.nem.ninja/stakes

*Note: When you first visit the above website, you will receive a warning about an unsigned certificate and your browser may say that the site could be malicious. This is only because the website for claiming stakes is using a self-signed SSL certificate. The site is not malicious, and this warning can be safely ignored. As always, double-check the URL before proceeding just to be safe, and only trust URLs provided from trusted sources (like this one).

Instructions: Enter your token, solve the CAPTCHA, and click the [Submit] button.

If all goes well you will have successfully registered. This step will also help us determine the number of unclaimed stakes as early as possible.

After the stake claiming period is complete, we will decide what to do with any unclaimed stakes. There are a few options and although there have already been discussions in the past, we believe that once we know exactly how many unclaimed stakes there are, it will be a lot easier to make the best choice for NEM as a community.

At this point, Phase 1 of the redemption is complete. Once you have submitted your token, there is nothing left for you to do except to wait for Phase 2 of the redemption process to begin. Phase 1 will last for a period of days or weeks as everything will take some time to process. Please be patient, and wait for further updates in the days to come.

Phase 2

Phase 2 will begin close to the official launch and will last 2 to 4 weeks, so the exact date is not set yet. This phase includes both BitcoinTalk users and stakeholders who have their stake on the NXT Asset Exchange.

BitcoinTalk Stakeholders

This section applies only to stakeholders who have their stake on the BitcoinTalk forums instead of the NXT Asset Exchange. If you hold stakes on the NXT Asset Exchange, please skip ahead to the NXT Asset Exchange Stakeholders section below.

BitcoinTalk users who have successfully registered their token during Phase 1 will need to create a private key and NEM address on a portal site by following instructions that will be announced closer to the launch date. All your NEM will be sent to this address, so you will need to keep your private key safe and secure or risk losing your NEM! After the distribution, you will be able to add this account in the NEM client, and all of your real NEM will be present. BitcoinTalk users will register that address on https://secretaddress.com (the correct address will be published later). You will need to enter your token from Phase 1 and your newly generated NEM address. At this point you will have given us all the information we need to send your NEM; your stake is safe.

NXT Asset Exchange Stakeholders

This section applies only to stakeholders who have their stake in the form of a NEMstake asset on the NXT Asset Exchange. If you are a BitcoinTalk stakeholder, refer to the above BitcoinTalk Stakeholders section.

People who have their stake on the NXT Asset Exchange will need to transfer all their NEMStake to a NXT ADDRESS that will be disclosed in time. In that transaction you also need to include a message that consists only of your NEM address (we will provide a way to create one) and NOTHING ELSE, no other text whatsoever. If you fail to provide your NEM address during this step you will lose your stake. At this point you will have provided us with all the information we need to distribute your NEM, so all you have to do now is wait for it to arrive.

Once all of this information has been received and processed we will have all the NEM addresses collected that are going to be inside the NEMESIS block. This is the point of no return.

Once this database is collected, it will be final. No reclamation, no complaining. You will either be in or out, and there is nothing we can do at this point due to the way this process must be handled.

We hope the process is clear for everyone. If you have questions, please do not hesitate to ask. Do not do anything if you are unsure or confused — your stake might be at risk.

Thank you,

The NEM Development Team