Binance XYM Concern!

[LeonMusk]

Ok I’ve just read something on a forum that has raised my concerns about the XYM airdrop on Binance.
Someone has stated that they have queried the XYM timescales etc via the Binance chat and have received the following response
‘We do not have a date for XYM allocation yet, however this will take place soon. XYM is allocated on the basis of 1 XEM = 1 XYM, at the time of the snapshot, however at the time of allocation, we will also use the current XEM balance as a factor in our overall calculation’

I am really hoping that this is incorrect as I have sold my XEM already. Can anyone give any clarity on it?

[Biocrypt]

This dosent sound right, it is self-contradicting

[LeonMusk]

I really hope not! I have a bad feeling about this. There was mention of Binance trading the XYM to make a profit prior to allocation so I’m kind of questioning their honesty at this point.
I have sent a chat request questioning it anyway so hopefully they will respond quickly

[LeonMusk]

Ok I don’t seem to be getting a response from Binance so I’ll post in the morning if they reply. Hopefully they won’t allocate overnight so I can put an order in if needed.
I’ll post an image of their chat response so others can use their own interpretation

[Biocrypt]

I am getting the same, they are just saying to wait for the announcement

[Bitcoinbcha]

I have researched xym a lot, the work you are doing is really good, we took all the damage to own xym and the future of xym is bright, they will definitely buy at a high price that sells cheap.

[nemen]

I think it is a badly composed sentence, probably by a non native speaker.
Probably it means that they will use the XEM balance at the time of allocation at the basis of 1 XEM to 1 XYM at the time of the snapshot.

It wouldn’t make sense at all to be using the XEM balances weeks after the snapshot to determine the XYM balances for each user.

[simakki]

Binance will add Symbol to customers balance today!

[nemen]

was there an announcement? Link?

[vegtamas]

Binance is started to distribute XYM. I already see it at my wallet/distribution page, but probably it takes some time till everyone gets it.

[Muhittin_Celik]

XYM balance is wrong not at snapshot time. I got my XYM on Binance with current (today) balance.

[vegtamas]

For me it’s correct, i sold the XEM a few hours after the snapshot.

[Muhittin_Celik]

Sorry. It is correct. My last bought is after snapshot time.

[BenHaci]

merhaba. anlık görüntüden sonra XEM satışı yapınca XYM bakiyen duruyor doğrumu. yani XEM satışı yapabilirmiyiz.

[Fijnard]

when XYM is introduced to binance, soon or will it take a while

[suky321]

It will take a while, it’ss in Binances control. Judging by them not allowing withdrawals yet, I would presume that they want to keep the airdropped XYM on their platform so that they can be traded when trading is activated.

[ormurinlangi]

so what is the lesson for future? never keep your eggs in one basket

and the best basket is own wallet, not a wallet in exchange

[suky321]

Absolutely. Not your keys, not your crypto. All XEM holders who kept their XEM in their XEM wallet at snapshot and opted in received their XYM on launch day in XYM wallet.