Symbol (XYM) token distribution for NEM (XEM) holders will be backed by Bitpanda
Bitpanda, the popular European cryptocurrency platform, has recently been involved in the distribution of XYM tokens, a new token introduced by the Symbol public blockchain.
The Symbol blockchain, a next-generation enterprise-grade blockchain developed by NEM, offers cross-chain transactions and a new POS+ (Modified Proof-of-Stake) consensus algorithm. The XYM airdrop, which took place on September 27, 2021, was based on a snapshot of XEM holdings.
All eligible XEM holders on Bitpanda were credited with the new XYM tokens. Bitpanda handled the opt-in for the airdrop, ensuring that users received their XYM tokens. However, no specific number of XYM tokens distributed in the airdrop was provided.
The snapshot for the XYM airdrop was taken on March 12, 2021, at 05:26:34 CET. It's important to note that any XEM tokens held by users remained intact following the airdrop.
At the time of the airdrop, no information about the value or price of XYM was provided. Market conditions for XYM may force the disabling of trading at times. Trading for XYM may also be subject to illiquidity.
Bitpanda currently plans to list XYM as a new digital asset. However, the platform may decide not to list XYM after the upgrade, depending on the evaluation of the situation. No further details about the XYM airdrop eligibility criteria were provided.
For more information about the Symbol (XYM) project, including the original NEM NIS1 blockchain and the upcoming launch of the Symbol public blockchain on January 14, 2021, please visit the official Symbol (XYM) website.
It's essential to stay informed about the latest developments in the crypto news. Keep an eye on Bitpanda for updates regarding the listing and trading of XYM.
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