Symbol (XYM) token distribution for NEM (XEM) owners will be fully backed by Bitpanda
Bitpanda, the European digital asset platform, has announced that they will handle the opt-in for NEM's XYM news distribution for XEM holders on their platform. The exact amount of XYM tokens distributed was not specified.
The XYM news, based on the XEM snapshot, took place on March 12, 2021, at 05:26:34 CET. Eligible users have been credited with their new XYM tokens. However, no information about the criteria for eligibility was provided.
The Symbol blockchain, which will launch on January 14, 2021, is developed by NEM and offers cross-chain transactions and a new POS+ consensus algorithm. The original NEM NIS1 blockchain and XEM tokens will remain intact.
The Symbol blockchain and its new token XYM were developed by NEM Group, the original creators of NEM blockchain technology, who launched Symbol as a next-generation enterprise-grade blockchain platform.
Bitpanda plans to credit XEM holders on their platform with the new XYM tokens. However, it's important to note that trading for XYM may be subject to illiquidity due to the newness of the token. Trading may also be disabled due to market conditions.
While Bitpanda currently plans to list XYM as a new digital asset on their platform, they may decide not to list XYM after the upgrade, depending on market conditions and regulatory requirements.
For more information about Symbol (XYM), including details about its features and uses, please visit the official Symbol (XYM) website.
As of September 27, 2021, the XYM news has been completed. The date for the launch of trading for XYM on Bitpanda's platform has not been announced yet.
Stay tuned for more updates on this exciting development in the world of digital assets!
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