NEM Symbol Snapshot Confirmed for 14 January 2021

NEM Symbol Snapshot & Launch - 14th January 2021

Translations:

JAPANESE
CHINESE

NEM Group wishes to confirm that Snapshot and Symbol mainnet launch will take place on 14 January 2021.

As we work through and finalise the last remaining components of the technical launch roadmap, specifically Core Server, TestNet Patch, REST + SDK, Wallets and Node Monitoring, it is clear that the cumulative technical risk across them all together will result in a delay to launch of 1-2 weeks.

This delay would bring the launch date into the middle of the Christmas and Holiday period which is not a sensible time to launch a new platform. There will be limited internal and external resources (exchanges, regulators etc) available at this time, which we believe creates an unnecessary risk to the successful launch of Symbol. Therefore launch and Snapshot have been moved by 4 weeks to a sensible date.

In agreement with the Core Team, including the Core Developers, confirming the Snapshot and launch date for 14 January 2021 not only gives us sufficient time for the final elements of testing to be completed but also significantly increases our confidence in the delivery of a successful launch. To summarise:

  • Launch: 14th January (exact time TBC)
  • Snapshot Block: 3,025,200
  • Snapshot Date: 14th January (approx 11:07am UTC from block height)
  • Pre Launch Opt-In closes: 9th January

The Genesis/Nemesis block is expected to be created on the 14th January within a few hours of snapshot and XYM tokens will be distributed in the Genesis/Nemesis block to all accounts who have opted in prior to the pre-launch opt in closing in accordance with the terms and conditions of the opt in process.

We recognise that this short delay will disappoint some. However the combined teams unanimously believe that it is necessary to mitigate some launch risk. It also brings absolute certainty to the Snapshot and launch date which we think will provide much needed clarity to everyone in our Community and beyond.

23 Likes

Great news.
Pre Launch Opt-In closes on 9th January. Is it possible to specify a specific time, to avoid all confusion or misunderstanding?
Should testnet nodes be upgrdaed with the latest patch(es)? Please let us know when and how.

中文翻译:

All good, is much better date after christmas/new year. This news however probably explains the sharp drop in XEM price.

I think 14 JAN 2021 is better than 17 DEC 2020 coz 17 DEC is too near to Christmas Day.

…probably explains why the price has been dropping recently before this announcement, I would speculate insider trading by people who knew about this before this mornings announcement.

1 Like

For everyone, I think this is good news.

Thank you for the wise decision of the team.

Thanks @garp I will have a chat on the time for opt-in close, it should be - the mechanism to stop opt in is a transaction from a known (multi sig) account, to the opt in account, with a known message. I will look at time zones for the sigs on it and see what we can do. There will be plenty of noise about it coming in the days before and just before it is signed as well. But a specific time makes sense.

Testnet nodes - will be able to be upgraded, the build is being finished and tested just now, but full instructions will come with the release, it is a few days away yet. We have a post to add to the single source of the trust thread later today with more info

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True, but when they plan for mid Dec, they already knew it is near to Christmas, so it should not be used as an excuse for this delay. There are in fact many other reasons.

Unfortunately whether it is a truth or not, most would think so, price dropped hard a day or two before the public announcement.

holy moly !

It is not being used as an excuse. If it all went to plan, 17th Dec was achievable, a couple of things didnt quite so the delay is 1-2 weeks…which would make on Christmas/New Year so it is extended by another 2 weeks to a sensible date.

As the comms above state

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:ru:
Статья на русском ЗДЕСЬ.

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