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YEM Digital Currency Update September 27, 2024
On all visible fronts, progress and/or activity on both the Unicorn Network SafeZone and YEM Digital Currency appears to have stalled. Lets hope the close out of 2024 brings with it updates and encouraging developments members and holders can celebrate.
On the YEM Digital Currency front, following a flurry of activity and updates regarding the YEM Digital Currency in April/May 2024, things have become very quiet. Apart from a few cosmetic screen changes, conversion of the YEM Digital Currency remains an in progress task.
YEM Holders will recall important short notice voting required in April/May 2024 for YEM to adopt significant changes based on a specific opportunity of which there has been little to no new updates shared. “There are important and highly encouraging developments that will move the YEM forward, but which cannot be communicated publicly at this time.” was the message being conveyed.
Among the many things spoken about, open items include: The YEM Foundation would like to move to Liechtenstein (FL) very soon and use CHF (the Swiss Franc) as its reference currency. There will be an occupied physical office there, the address is already known. They are also planning a double "roll backwards", i.e. a more practical representation of the YEM for trading and calculating smaller purchases.
We wait for further updates...
Based on members votes for the SECOND VOTE, an initial step has been completed on both https://yem.foundation and https://yemchain.com websites.
The base reference currency has been changed from USD to CHF.
IMPORTANT: This is only the first stage, with no revaluation yet. It is purely based on the vast majority of members choosing the option of the Simplified Conversion rate of 1 USD=1 CHF.
More updates will follow as step-by-step, we implement these changes to the systems.
Please see the YEM Foundation Telegram Channel for the most recent updates:
https://t.me/c/1919449767/94
Note: Updates and Announcements are first posted in the Official YEM Foundation Channel (the only official one!) before anywhere else. Follow the Telegram Channel to get the updates quicker.
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YEM Digital Currency members may have noticed that YEM related web pages may intermittently be offline and YEM balances could be affected. Please be aware there is ongoing server maintenance underway: there are no set times, lengths of duration or dates when some services will be temporarily unavailable. Members accessing pages temporarily offline are requested to check back later.
Please wait until the server maintenance is complete before trying any YEMChain transactions for smoothest processing.
Visit the YEM.Foundation Website for all the latest news and information.
YEM Foundation Update June 17, 2024
The teams are working hard to implement all the changes the YEM Holders voted on recently and some things must be done in a certain way to protect data during this process.
June 15, 2024 Server Maintenance underway, some Unicorn Network sites may be unavailable temporarily, read more here:
https://world.wazzub.com/viewtopic.php?id=6553
UPDATE for YEM price
The YEM price will be fixed at 25,000 USD on June 17, 2024 23:59:59 UTC
This is necessary to do prior to the change in reference currency and also to allow the Unicorn Network the time to change their systems to point to a new API that belongs specifically to the YEM Foundation. This is important because otherwise different sites across the network would potentially have price discrepancies.
UPDATE for Proof of Stake
The Proof of Stake functionality will be temporarily disabled on June 17, 2024 23:59:59 UTC
After the cut-off, you will not be able to deposit or withdraw from Proof of Stake until we complete the migration of the yemchain.com site to our new server.
No YEM will be lost during the transition, simply you may not be able to do any transactions for a limited period of time while the updates are completed.
YEM "Your Everyday Money" is a blockchain based, centralized digital currency.
- The YEM Foundation is the Legal Regulatory Authority for YEM Digital Currency
- The YEM Foundation was founded in 2017 by more than 3700 Co-Founders from over 150 countries
- YEM Foundation is Registered as a Nonprofit Corporation
- YEM Foundation is an accredited NGO and listed with the Union of International Associations (UIA)
Visit the YEM.Foundation Website for all the latest news and information.
YEM Foundation Update May 20, 2024
Following the results of the recent vote, we want to let you know how things are progressing on the technical aspects involved.
We are in regular communication with the Unicorn Network that require specific collaboration on a number of tasks.
1. Stage 1 - YEM Foundation websites
There are a number of websites that are the responsibility of the YEM Foundation. Currently, these are on servers under the control of the Unicorn Network. The websites along with the domain name registrations, are in the process of being moved to us including the domain name ownerships.
Some of the websites will involve an easy migration, while others are far more complicated.
Please give us time to complete this process.
2. Stage 2
Once stage 1 is completed, then there are specific tasks that need to be implemented across the whole Unicorn Network sites.
One of these tasks is to ensure that the Official YEM Price is always sourced from an API (Application Programming Interface) that is implemented on a YEM Foundation website. The API is being developed by ourselves. This also means that the Unicorn Network's programming team is going through all their code and changing the references to the new API.
This MUST be implemented in a way that does not produce discrepancies of YEM price across all the network.
Please give them time to complete this process.
3. Stage 3 etc.
There are further stages that need to be implemented. These include the changing of the reference currency, revaluation of the YEM price, and the implementation of the YEMChain v2.0
These will be complicated and more than that, they are critical parts of the system and things will be implemented in small steps to ensure that there is little to no disruption in services.
We envisage some testing periods where new transactions on the current YEMChain v1.0 will be suspended for short periods (just an hour or so). This will allow us to ensure that the "on/off switch" completely disables all new transactions being created. This is extremely important for the migration needed from V1.0 to v2.0
4. Conclusion
As you can see we have many things in progress and we are working on it everyday.
You will not be able to see much visibly yourselves just now because the whole purpose is to retain the existing content and functionality as much as we can. For the later stages, for sure you will see far more enhancements and new functionality being implemented.
We will give more updates as stages are completed.
Thank you for your continued loyalty, trust and patience.
With warmest regards!
Your YEM Foundation BID
Visit the YEM.Foundation Website for all the latest news and information.
THANK YOU!
May 6, 2024
Dear YEM owners, dear Unicorn Network family, dear Unicorn Network leadership team! We, the BID team of the YEM Foundation, are very, very grateful to see how the vote has developed and how the solidarity with the parent organization of our YEM has been allowed to develop.
There are so many of you to thank! We have experienced wonderful support from so many dear souls in the YEM community and thank you from the bottom of our hearts!
And we were able to experience how, in good conversations with the Unicorn Network leadership, we came to the understanding that we all have the same goal and that it can therefore only be good and right to walk our path to our common goal in mutual support and mutual trust.
Not everything went smoothly and we are all learning. We are now very happy and grateful and extremely confident that we will make huge progress this year.
First of all, there are many bureaucratic steps that need time and patience. The implementation of the intended technical changes will of course also take time. Please bear this in mind and remain patient.
But we have overcome the most important hurdle and prerequisite: Unity and the joining of our forces in a united and bundled energy target direction. With such prerequisites, this can only be good.
The BID team YEM Foundation says THANK YOU once again from the bottom of our hearts!
On behalf of everyone in the team!
Your Lora Bilger, President of the YEM Foundation
Visit the YEM.Foundation Website for all the latest news and information.
May 6, 2024
Vote results have been posted on the YEM Foundation website and Unicorn Network Admin provides an update on their support:
You can review details of the votes below:
Voting results indicate the following changes coming to YEM Digital Currency.
Relocation of the headquarters to Liechtenstein + change of the reference currency to CHF + change of the presentation to 1 YEM=1CHF at the beginning.
Total Vote Results
FIRST VOTE:
Total Votes: 27,828,983.908723
Choice 1: 92.40%
Choice 2: 7.60%
SECOND VOTE
Total Votes: 25,778,776.320665
Conversion rate Option 1: 98.52%
Conversion rate Option 2: 1.48%
Thank you for your attention and participation in this important decision.
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Unicorn Network Admin Update, May 6, 2024
Dear Unicorn Network Members,
We just wanted to provide a short update for everyone following our meeting with the YEM Foundation on May 2, 2024.
We were able to get clarification on the 2 points we noted in our follow up letter, the maximum supply of YEM will not be changed with the new valuation of YEM and the situation with the Sovereign Order Bene Merenti (SOBM) accepting YEM as their official currency happened as we described, so it is not comparable with this situation we are voting on currently.
We were also able to learn a little more information and after discussion with our TEAM, we decided to vote YES with our companies.
Thank you all for participating in the discussions and polls.
Best regards,
Your Unicorn Network Administration
To read the update and participate in the discussions, visit the WazzUb topic set up:
https://world.wazzub.com/viewtopic.php?pid=671446#p671446
Visit SafeZone.Tips for more information about YEM Digital Currency
May 3, 2024
The vote deadline has been extended:
All YEM Holders are asked to log into YEM Foundation to cast your votes.
The voting will end at May 6, 2024 at 15:00:00 UTC
There was an issue where some members could vote again. This was identified internally BEFORE it was reported by a member.
We therefore were already investigating it, and found the issue.
Rest assured that no double voting has been recorded and the vote remains valid.
We have extended the End Date for the Votes giving an extra 3 days, to allow the Unicorn Network and its team to discuss over the next few days.
To participate in the discussions visit the topics set up in WazzUb or follow the links below.
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April 26, 2024
Official YEM foundation on Telegram:
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Polls are now open, all YEM Holders are asked to log into YEM Foundation to cast your votes.
IMPORTANT INFORMATION
The voting will start at 2024-04-26 15:00:00 UTC
The voting will end at 2024-05-03 15:00:00 UTC
Visit SafeZone.Tips for more information about YEM Digital Currency
April 25 2024
Important Unicorn Network communication related to the recently announced YEM Foundation polls:
For additional information, news and updates, read recent YEM Desk updates that follow this message.
To read the full communication visit the WazzUb topic at the following link:
https://world.wazzub.com/viewtopic.php?id=6493
Unicorn Network Admin Update, April 25, 2024
The purpose of this message is to bring to light some glaring complications on this issue and kindly request the YEM Foundation to postpone the start of these polls, address all of our fellow YEM Holder concerns, follow the precedent set by past BIDs by hosting a webinar or at the very least releasing a detailed written document answering the concerning and providing more information, allowing a week (7 days) of discussion where any additional concerns or questions can be addressed, and then holding an official poll following the standard guidelines of 1 YEM = 1 vote, with the poll being open for at least 7 days for voting.
Dear Unicorn Network Members,
There have been some concerns and questions discussed among the members, so just in case you are a fellow YEM Holder like we are, we wanted to share our thoughts on these topics from the Company perspective.
For those who might not be aware yet, the YEM Foundation Interim BID (Board of International Directors) announced on their website (www.yem.foundation) that there are some upcoming polls regarding some important topics.
You need to log in to view the information and the polls are scheduled to start on April 25, 2024 at 15:00 UTC ... which translates to 8am USA Pacific Time on April 25, 2024.
You can use this link below to check the time for your location:
https://www.timeanddate.com/worldclock/ … 15&p1=1440
Visit SafeZone.Tips for more information about YEM Digital Currency
April 25 2024
A publication by UA Dido -
The YEM Foundation at a Crossroads:
A Crucial Vote for its Future
Introduction
The YEM holder community is engrossed in a debate over the upcoming strategic directions for their foundation.
Questions have been raised about the transparency of the process and the real motivations behind the proposed changes.
In an attempt to clarify the situation, we have decided to put the main questions directly to the President herself.
Question 1 from Mr. Dirk (GALAXY MARKETING)
Will the move of the headquarters from Las Vegas to Liechtenstein be done by registering a new foundation or simply opening a branch?
Response from Dr. Lora (President of the BID of YEM Foundation)
The main headquarters will be moved to Liechtenstein, but the current US registration will temporarily remain in place as a dependency.
Q2: On what legal basis can the interim administration register a new foundation?
A2: As President, I have an ethical obligation to take action to move things forward instead of remaining inactive. I would also be liable for inaction.
Q3: Why not continue based on existing resolutions rather than following a "nebulous organization"?
A3: The move to Liechtenstein aims to provide more flexibility, we cannot remain rigid. I refute allegations that we would be following the orders of a mysterious organization.
Q4: What is the identity of this "powerful organization"?
A4: I cannot reveal its name yet. Everything will be made transparent once the conditions for grants are met.
Q5: What specific types of projects are envisioned?
A5: I cannot provide details at this stage for strategic reasons, but no intelligent person would reveal their plans too early.
Q6: How will YEM holders benefit from these changes?
A6: We will have the opportunity to obtain substantial grants from this organization to fund projects aimed at increasing YEM adoption and usage.
Q7: Why change the YEM price display again after aligning with Bitcoin?
A7: I opposed aligning with Bitcoin, as we want to position YEM as a regulated, stable currency for everyday use.
Conclusion
Despite the persisting areas of opacity, Unicorn Founding Member Leonardo is calling on the community to seize this opportunity.
In his view, partnering with countries as wealthy and financially influential as Liechtenstein and Switzerland would represent major progress that should not be passed up. The demanded transparency could be provided by the public charter required in Liechtenstein.
It is up to YEM holders to carefully weigh the pros and cons before the crucial upcoming vote.
Visit SafeZone.Tips for more information about YEM Digital Currency
April 23, 2024
To all our valued YEM holders, YEM Foundation announces new polls being set up to get input on Important changes being discussed.
Please take the time to read this carefully.
As recently announced, YEM Holder participation is being requested by the YEM Foundation regarding important changes being discussed regarding YEM Digital Currency.
Read on to get the latest news and log into the YEM.Foundation website to participate in the upcoming polls.
IMPORTANT INFORMATION
The poll will start at 2024-04-25 15:00:00 UTC
There is already a very close relationship, quietly prepared for some time by the President of the YEM Foundation, with a powerful organization based in Switzerland and Liechtenstein that is able and willing to provide very generous financial support for projects approved by them.
The YEM Foundation and it's sub-projects, which are already in preparation, are among the lucky ones who have been granted substantial financial support, provided that the YEM Foundation is registered in Liechtenstein.
We are proposing a significant change to our operating framework. Your vote is critical in shaping the future of our organization. These proposals relate to the relocation of our registered office from the United States of America to Liechtenstein and fundamental adjustments to our currency valuation and reference currency. An important part of our proposals also revolves around the current presentation and therefore valuation of a YEM, which, according to much feedback from members, can easily lead to confusion and the risk of errors in calculations for payments and transactions for both our YEM holders and businesses.
The revaluation that raised the YEM rate in 2022 to the current price range of $25,000 to $30,000 should be reversed, and even beyond that, to further simplify the use of the YEM as Your Everyday Money.
Instead of the US dollar, we propose to introduce the Swiss Franc (CHF) as the reference currency. The Swiss Franc has proven to be exceptionally stable over the past decades and is therefore a reliable reference value for our transactions. It is also the national currency of both Switzerland and Liechtenstein.
Rest assured that our priority is entirely to ensure the stability and growth of our organization while protecting the interests and values of all our members.
We will, if you agree to our plans, have a physical office in Liechtenstein.
Thank you for your attention and your participation in this important decision.
Yours sincerely,
Your YEM Foundation BID
FIRST VOTE
Based on the introduction above, this is why the entire package regarding FL (Fürstentum Liechtenstein translates to 'Principality of Liechtenstein' in English) and CHF that we are putting to the vote here is so enormously important for our further development.
The grants cannot take place if the YEM Foundation is based elsewhere.
Relocation of the headquarters to Liechtenstein + change of the reference currency to CHF + change of the presentation to 1 YEM=1CHF at the beginning.
This works without loss of value, as the number of YEM is multiplied at the same time so that the wallet value of the wallet holders is retained.
SECOND VOTE
There are 2 options to choose from as detailed below: -
Conversion rate Option 1
Conversion rate simplified: 1 USD=1 CHF.
This is done together with appropriate multiplication of the amount of YEM in your wallet.
It is important to emphasize that no member will suffer a loss. On the contrary, each member will benefit from this adjustment as their wallet value will increase according to the new valuation.
As the YEM is an independent currency and since the last major adjustment, global inflation has caused huge losses in value, we believe that Option 1 is justified as compensation for some of the losses.
Please all vote for Option 1
Exchange rate Option 2
The daily exchange rate between USD and CHF at the time of conversion will be used.
It is important to emphasize that no member will suffer a loss. The value in your wallets will remain as they are now.
Your voice is very important in this decision-making process. We urge you to carefully consider the implications of this proposal and cast your vote accordingly. Rest assured that our priority remains to ensure the stability and growth of our organization while protecting the interests of all our members.
Thank you for your attention and participation in this important decision.
Please join the Telegram channel 👆 below or the YEM Foundation website for always access to fresh news.
https://t.me/+VsXX6Geoj9Q5NmFi
Other News and Recent Announcements
There are also a few legal documents that have been posted on the home page of https://yem.foundation the last few days.
YEM Foundation has set up a legal team. This legal team is first trying to contact the source of fake news and/or false statements or the legal entity that they belong to, explaining why something is not correct and requesting a correction. If that does not help, civil legal action and/or criminal legal action is the second step.
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April 19, 2024
Dear YEM Holders
In what is seen as a another significant step forward for The YEM Digital Currency, on April 19 2024 the YEM Foundation formally responded to the Financial Market Authority (FMA) with regards to the FMA publication on the investor warning of 13.05.2023, including in the official gazette of the Wiener Zeitung.
The FMA is responsible for enforcing the supervisory laws listed in the Financial Market Authority Act. It is responsible for the entire federal territory of Austria and is not bound by any instructions in the performance of its duties.
Read below the Official response sent via register mail to the FMA Accordingly, please also regard this letter as a warning letter.
Please find letters to FMA as PDF here and please spread the message:
https://t.me/+VsXX6Geoj9Q5NmFi
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The Truth About YEM, Facts First
If you have not seen the updated #TruthAboutYEM web page, be sure to check it out, it's updated frequently so check back regularly.
www.TruthAboutYEM.com
You can also keep current on important YEM Foundation topics by visiting the Official YEM Foundation area in WazzUb:
Learn More about YEM
DISCOVER THE UNICORN NETWORK SAFEZONE
YEM Digital Currency is the preferred Digital Currency of The Unicorn Network SafeZone.
Within the Unicorn Network SafeZone, websites are connected and interlinked using State of the Art technology, all designed to provide consumers and businesses with Industry leading personal identification privacy and protection.