NEM

Community Fund

Introduction

The Community Fund DAO was set up to promote the development of the NEM ecosystem by funding NEM startup companies to help jumpstart their businesses. It is open to everyone who meets the minimum requirements.

Approximately 300 million XEM were allocated for this fund during NEM’s Nemesis block. As the fund is limited, applications and approval will be based on a first-come, first-served basis, along with other criteria. Entities are allowed to reapply for rejected applications, provided that these applications have addressed the reasons they were rejected.

As of mid September 2018, the community fund is on hold while NEM Ventures restructures the way projects will receive XEM from the community fund going forward. Please check back soon as the people behind NEM Ventures are working fast to get the community fund functioning again.

Amount Requested

  • Publicly Traded Companies: < USD 15M
  • Registered Companies with the Public Shareholders: < USD 5M
  • Non- Company Public Entities: < USD 500K

All payments are made in XEM.

Active Membership Fee

Relevant team members in an application must be at least one of the following:

  • Show an aggregate of at least 250 posts in the NEM forum
  • Be regulars in the main NEM Telegram Channels
  • Be well-known through attending and participating official NEM events

Those who are new to the NEM project must find a possible partner/s in the NEM community who can help them qualify.

Stakes

The company must have a legal bank account, and with either money in the bank to substantiate the completion of the project or show sufficient XEM in their account(s) that they are serious in doing the project.

Milestones

Milestones of the project must be specified and completed before any disbursement of funds. Milestones are pre-determined by the NEM Community Fund Proposal Committee. Overdue projects will be reviewed and will either have an extension or a withdrawal of funding.

Project Summary

A summary of the project for public review on the NEM Forum posted 5 days prior to voting for the community’s review.

Project Details

Details of the nature of the project, target market and size, and a roll-out plan for review by the Community Fund Committee presented within 2 weeks of passing a community vote.

To be elligible for funding:

Applying companies must provide legal or accounting proof (e.g. date of incorporation, place of incorporation, registration number, directors, shareholders, company memorandum, and articles of association).

Individuals or groups will be considered open-source projects. Code to said projects will be open-sourced upon completion of each milestone.

Upon approval of the application, shareholders, directors, and relevant team members must reveal and prove their names and identity (e.g. driver’s license or passport).

NEM Community Fund Proposals

TravelbyBit
Forum: Link
Telegram: @TravelbyBit

MHub
Forum: Link
Telegram: @NEMHub

Prover
Forum: Link
Telegram: @prover_io

CoderSchool
Forum: Link

GreeOx
Forum: Link
Telegram: GreeOx

BlockGrain
Forum: Link
Telegram: @blockgrain

MiCai
Forum: Link

myCoinvest
Forum: Link
Telegram: @mycoinvest

LocationCore
Forum: Link
Telegram: @locationcore

Ethyl
Forum: Link
Telegram: @ethylC

FamilyPoints
Forum: Link
Telegram: @familypointstoken

AbacasXchange
Forum: Link
Telegram: @ABACASXCHANGE_ABCS

CopyrightBank
Forum: Link

LuxTag
Forum: Link
Telegram: @luxtag

Apostille
Forum: Link

Choice
Forum: Link
Telegram: @choicetopay

Sen Ree Yal
Forum: Link
Telegram: @senreeyal