NEM Cryptocurrency Symbol Opt-in launch date XEM Holders at Snapshot to get XYM
NEM recently expressed that the Symbol Opt-in launch date is announced. The opt-in opening date for Symbol is September 15, 2020.
The Opt-in date was on September 07, 2020; however, an additional 8 days have been allotted for testing in order to improve the UI/UX. There are no new reported challenges as the testing seems to continue.
For those who do not understand opt-in, it is the method by which the existing XEM holders will be able to claim their XYM tokens at the point of Snapshot, which will take place prior to the new chain launch of Symbol, which is scheduled for December.
To place the claim on XYM users should understand and accept the terms and conditions which is available on the website. This is a part of the process of Opt-in.
Of note, the Opt-in web pages and terms and conditions will also be going live on September 15, 2020.
At the point of snapshot, for those who do not opt in the XEM balance that is there, will be allocated with an equivalent amount of XYM in to the user’s wallet. Thus, users will be able to Opt-in to their your XYM tokens for nearly 6 years after the launch date providing further details about how this might get shared in the near future.
Starting, September 15, 2020 users will be able to Opt-in using the NEM desktop wallet and the NEM mobile wallet for Android versions only. Notably, the single accounts, which can consist of namespaces & harvesting keys; and Multi Signature accounts, which can consist of namespaces and harvesting keys. Of note, they have also stated that the Multi Signature account Opt-in could only be initiated in the NEM desktop wallet.
Sydney Ifergan, the crypto expert, tweeted: “It is Snapshot and NEM Opt-in time. They state Binance have not yet announced support. They also say that the only way to absolutely receive XYM is to hold XEM in a wallet that is user controlled.”
The best option for now is to store the funds in the NEM desktop wallet.
NEM Cryptocurrency Reimagine 2020 v2.0 Workshop Series
In the Reimagine 2020 v2.0 Workshop series, Laura Angel, Business Development LATAM at @NEMofficial have provided a general overview regarding the use cases about the two blockchains like NIS1 and Symbol. The video is worth the watch by those who are trying to understand NEM.
The iOS is expected to be available on the Apple Store at a later date due to the centralized approval process. For now users are to log into their NEM wallet and follow the instructions for the Opt-in.