Public Communication: Catapult Migration (3.1) - Opt In or Opt Out
This is a joint message for our community on behalf of the Catapult Migration Group, comprised of the NEM Foundation, NEM Studios, NEM Ventures and Tech Bureau Holdings
It is a follow up discussion point from Migration Committee Community Update #3 (Revised Recommendation)
Opt Out vs Opt In
The subject of this thread is to try and flush out more discussion around the pros, cons and preferences of the community about whether we prefer an Opt In or Opt Out approach. There is a brief definition provided below for those who don’t have any context on this and several links at the end of the article.
The original recommendation was to utilise a Token Allocation approach, which NIS1 token holders would Opt In to. The feedback from the Super Node group and community generally appears to support that approach but to allow holders to Opt Out from being included instead of having to Opt In, there is a subtle difference:
Opt In - NIS1 token holders make an active interaction to signal they want to receive tokens on Catapult, either before or after Catapult launch.
Opt Out - All NIS1 token holders are allocated tokens on Catapult UNLESS, they actively Opt-Out, if they do decide to Opt Out, they can still claim their tokens later via an Opt In.
The two options are both variations of a Two Chain, Token Allocation approach, so it is positive that we have narrowed the generally supported recommendation to a single approach - we are discussing details at this stagen to large concepts. Both options are envisaged to be delivered via a NEM Wallet (Nano Wallet) plug-in that generates transactions to known addresses with a specific message, they can therefore be sent by other wallets or programmatically, as subsequent post will be made to show how this could work.
The exact Post Launch Opt In period duration is yet to be defined, but is expected to be several years, at the end of that period they will most likely be burned. This aspect is the subject of a seperate discussion so will have its own follow up thread posted shortly after this one (insert link when posted)
Further input from the community, (particularly the Japanese & Russian speaking communities but others as well) is sought prior to solidifying this option. To date input has been primarily from the English speaking community and this of the 3 sections to highlight is likely to be the more contentious and impacting for holders.
Some strong concerns have been raised by some parties against both Opt In and Opt Out; questions have been raised in the forum as well. I will leave it to the community for a few days to state these to avoid influencing discussion in the original post, if its not forthcoming I will look to add it in a follow up post.
One item that cannot be avoided is that if Opt Out is taken, then a decision must be made on how long the period to be able to Opt Out should/must be between announcing it and the block height at which we take the balances snapshot.
Useful information when considering this topic:
Tweet from Jaguar with an diagram explaining both:
Japanese: https://twitter.com/DaokaTrade/status/1190154693831315456 (thanks Daoka)