The cryptocurrency universe has been enduring a long and brutal bearish market since the great implosion of 2017 and things have not been looking good for a few currencies.
One of the digital assets to suffer the wrath of the bear has been NEM foundation’s native currency XEM, which recently announced a complete restructuring of the Foundation, scheduled for the end of the month.
The NEM foundation released a formal joint statement along with NEM Labs on the issue of funding proposals and the way forward,
The official NEM foundation handle tweeted:
According to the announcement, the major structural change that the proposal is initiating with respect to the democratic and decentralized code of conduct will be their mode of operations. The NEM foundation has called for a POI or “Proof of Importance” vote in support for a funding request.
It was also announced early this year by the Foundation that a major part of the team will be redundant in the coming months…
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