XEM Publishes Funding Proposal For 2019

Roxanne WilliamsFebruary 17, 2019Last Updated: September 17, 2020

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After the sun shines on the bright side for the market NEM (XEM) along with some other assets has had a good day although every sun that shines brightly has to set someday as the market never stays stable, still, it seems a little stable for the digital assets.

Giving detailed information about they will operate their network from the next year. Funding Proposal of 2019 was published by NEM as a new ray of hope. According to the proposal, the new strategies will be implemented from 20th February making new statements for the market.

New changes are expected as per the proposal on the basis of quantitative and qualitative analysis. As there are various worker unpaid, unclear invoices and other expenses that are needed to be taken care of, clearly NEM (XEM) will use this budget to clear all this. NEX (XEM) has been spending 64.05% less budget in 2018, and almost 69% reduction in staff size has also been made according to the report.

As NEM has been going through a tough time due too its financial crisis, they have taken all these steps to overcome their financial crisis and make it back into the race. On the other hand, NEM has been making changes in the funding. $668,725 USD will be the total monthly coin burn of NEM and the total yearly budget for 2019 will be around $8,024,695 USD according to the funding breakdown.

As per the funding proposal of NEM (XEM), they have made it clear that in any situation where the XEM will go down in the market, they will be strategically reducing the number projects as well as will cut down some staff members. And in order to have stable and long term support, NEM put their faith in the hands of the bank at any point they see the market going up.

Overcoming the financial issues will be the primary focus of the NEM foundation this year for which they will take all their steps after analyzing the circumstances of the market. The decision will be made in favor of those projects which will require minimum efforts and will give back maximum output. Yet the basic strategy of the proposal is not to let go XEM rapidly, instead take more strategic care of it so that NEM faces no more financial issues.

When it comes to market trauma, the bear market has given NEM a severe pain as it hits some digital assets including XEM. Apart from that NEM has been quite a hit and has been growing bigger and better.