Blockchain pioneer NEM (NEW Economy Movement), the 2015 founded company behind the NEM blockchain and NIS1 protocol, has launched NEM HUB, its Social Mining Platform powered by XEM, their Cryptocurrency. The community-oriented platform was officially announced on July 15, 2020, to unite and empower NEM’s global community.
NEM HUB participants can stake their XEM and create quality content like articles, videos, leads, engaging social media posts, etc. Besides, they can complete the requested tasks to earn rewards and distribute rewards to earn points. Community members and admins will evaluate (i.e., upvote or downvote) user-generated content on the HUB, giving them the power to decide what contributions are valuable to the NEM ecosystem.
Similar to social media programs of crypto projects like Steemit, EOS Voice, Read.cash, Uptrennd, and Peepeth, NEM HUB will reward community participants in cryptocurrency for generated Value. However, the XEM rewards platform offers a unique twist to social mining as it aims to users who have a stake in the platform’s success to eliminate the short thinking bounty hunter hordes.
As a precaution against low-quality content and malicious users, you need to stake a minimum of 1000 XEM to qualify for rewards. At the end of the month, a minimum of 10,000 USD in XEM tokens will be distributed to all participants based on several factors, including the amount and quality of content produced during that period.
During the Soft Launch, NEM ran a logo design contest for the Japanese community, the most active community, and NEM stakeholders. The winning design submission voted by the community has now been adopted as the official logo for NEM HUB Japan. The international community writer contest got more than twenty article submissions within one week, and many of them are high-level contributions. NEM HUB also has biz-dev, marketing, educational, or specific niche task for local communities.
To become a NEM HUB contributor, and start earning rewards for your engagement, visit NEM HUB to sign up in minutes. Be sure to complete your profile information and link your social media accounts to cross-post your content. Once you’ve completed the onboarding survey, simply connect your cold wallet and hold at least 1000 XEM in it.
You can contribute to the HUB in various ways, anytime and anywhere (as long as you maintain high-quality contributions). You can write helpful articles, translate and localize content, design engaging infographics, create an explainer video, or support the biz dev team by bringing in qualified leads.
To earn better rewards, you should aim to create quality content and contribute in a positive way that provides value to the NEM ecosystem.
Earn Free XYM with XEM Tokens
Symbol (or less commonly, “Symbol From NEM”) is the open-source decentralized blockchain platform 2.0 from NEM. Symbol connects businesses to blockchain infrastructure, helping them to reduce cost, complexity, and find new ways to create value.
From an economic standpoint, Symbol is a sustainable, rewards-based ecosystem consisting of node operators, harvesters (NEM’s term for miners), investors, users, and XYM tokens. XYM is the native cryptocurrency and fuel of the Symbol public blockchain. It is used to pay for transactions to incentivize the network of public nodes that process and record transactions, giving XYM fundamental value as the currency of a functioning economy.
One of the benefits of contributing to the NEM HUB is you’ll be rewarded in XEM tokens. As previously announced, all XEM holders can ‘Opt-in’ their XEM holding to get mirrored XYM tokens 1:1 when the Symbol blockchain launches in late 2020. Interestingly, XYM holders can participate in rewards whether or not they run a node.
Like mining rewards, Symbol harvester rewards will be distributed to block creators and validators based on Proof of Stake+ (PoS+), an improved variant of the efficient Proof-of-Stake algorithm. As a Symbol harvester, you’ll earn rewards just by holding a token balance. You can make even more generous rewards by running nodes to keep the Symbol protocol open and decentralized.
As mentioned in NEM HUB chat, NEM is indet to prolong the community platform beyond the Symbol launch and is working on the launch of NEM INSIGHT, a community education platform, and SYMBOL Library, the “WordPress-Platform” for Symbol`s ecosystem.