Post Launch Opt In Discussion(s)
This is the first of three discussion topics we are opening this week. The intention of this post is to gather input, discussion, opinions, questions etc about the Post Launch Opt In process.
The below is a proposal/start point for how NGL is thinking the Post Launch Opt In process could run, this is a discussion and not set in stone, we are specifically asking for likes/dislikes, problems/opportunities etc. that the community can spot here.
Attached is a longer requirements document but the high level bullet points would be:
Post launch opting in to start as soon as practical after Pre-launch opt in closes. This may be before launch or may be just after launch depending on the delivery timescales for the post launch opt in UI components (they work slightly differently to Pre-launch)
Post launch token allocations (pay outs) will not start for a period of approx 6-8 weeks post launch, this is to allow a period where things can stabilise, any issues can be resolved and the tech teams can focus on any tidy up work from launch.
Opt ins that are for NIS1 balances of 100 XEM and over at snapshot block will be sent to one account on NIS1, those that are < 100 XEM will be sent to a second account (see discussion here on this one)
Fees payable for transfer of tokens on the Symbol chain will be deducted from the recipient’s balance, there will be a minimum snapshot balance requirement of ~1 XEM to opt in Post Launch (exact number to be confirmed one multi-sig is easier to test on Testnet).
The intention is to make weekly token allocations for the first 6 months, after that it will change to monthly.
The Post Launch opt in will only allow migration of XEM balances to XYM based on the XEM balance at snapshot block height; no migration of namespaces, multi-signature configurations or VRF keys
If the volume of Post Launch Opt Ins is large, we will process the balances that are >=100 XEM first and then treat the <100XEM balances as a backlog. We do not think this will be necessary but also cannot be certain in the early weeks what kind of volumes are to be expected so may implement a max threshold for weekly allocations to ensure they can be performed reliably and with appropriate accuracy.
Full document with the requirements, process steps and operational processes (settings should allow google translate, please let me know if they do not)
Please do let us know if there is anything in here that is wrong, needs another perspective, generates questions etc the best way to ensure this works how everyone wants it to is to have these conversations.