Symbol Launch Weekend - General Update (14/03/2021)

Announcements
#1

All,

I thought I would try and answer a few common questions on multiple channels in one place while also giving a bit of an update of what’s been happening the last few days.

This is not a formal update communication, it is written in real time during the launch process for the purposes of providing some current information to those interested.

This does not cover anything to do with price, listings, exchange distributions or anything like that, it is entirely focussed on the Symbol network/chain launch items, please discuss those on another thread.

In no particular order (off the top of my head):

  • Snapshot is complete and went fine
  • There is away to check your opt ins and keys - see below
  • Work is ongoing but progressing at pace
  • Various components will be released at the earliest tomorrow as they rely on Mainnet final config values (Desktop Wallets, Ledger, Mobile, Bootstrap)
  • Some of the network componets have already been released at v1.0.0.0 (server for example)
  • Bootstrap polling is not going to be available, it is problematic with keys in nemesis (see below)

More detail below

Snapshot Completed

  • Snapshot happened as planned on NIS1 chain at block 3,105,500, approx 04:26 on 12 March 2020

  • The 360 rollback limit passed without incident

  • The NIS1 chain continues on its way, creating blocks every minute as it always has and will continue to do.

  • Anyone who held XEM in that block height is eligible for XYM tokens on the new Symbol chain

  • If you opted in successfully before snapshot, you will get them at launch

  • If not, you have 6 years to claim them and its likely to be possible to claim them within ~1 month of launch, more information will be provided post launch on this.

Opt In Validation

The biggest question in the past few days is how can someone do the below. Please note the dummy network is stalled at block 1 on purpose so it won’t let you do anything in the wallet or broadcast transactions, but it will show import works and balances

a) Check their opt in was accepted

Go to this dummy explorer and search by address: http://explorer.experimental.symboldev.network/

If you don’t find it, then search in the failure reports (use the tabs): Opt-in Statistics

b) Check keys/mnemonic works

You can use the current wallet releases and import profiles, they will connect to the environment above and show your balance.

Desktop Wallet is easiest until the others are released later in the launch process.

If using Ledger, please update to the latest version (currently 0.0.9) as it works more reliably with the 0.15.x wallet releases. There will also be a new Ledger, Desktop and mobile release before launch with final configs in - so keep an eye out and update after they are released.

When Will item ‘X’ be Released?

There are various components that are waiting for final bits of data for the new network and the endpoints to be available, these will be released shortly after public launch is announced:

  • Bootstrap: shortly before public launch announcement, it needs various final configs that can’t be added until a few hours before and then need to be validated

  • Desktop Wallet: shortly after public launch announcement, it needs the endpoints to be available so they can be included in the build and it doesn’t error trying to connect etc

  • Mobile Wallet: shortly after public launch announcement, it needs the endpoints to be available so they can be included in the build and it doesn’t error trying to connect etc

  • CLI: shortly after public launch announcement with the other client apps

  • Ledger: Depends on Ledger but probably during the day on Monday it will be published from developer to production mode

  • All other components will be set to version 1.0.0 and are being released gradually

Boot Strap Polling

During the pre-launch sequence (last few weeks) we had hoped to be able to set up a version of Boostrap to allow nodes to be configured ahead of time and set to poll for the seed information. Unfortunately it has not been possible to do this reliably. Nodes will therefore need to be run manually the first time.

The grace period of 2880 blocks from the last reset (24 hours) will still be in place and we expect it to be a few hours running in private before it is opened, so there will likely be 12-24 hours before the block rewards start.

What Has Been Happening Generally?

It is easy for the team to get caught up in the mania of getting a launch network and chain ready and assume everyone else knows what is happening, so I’ll try and take a minute to list just a few of the key things just so you don’t think we are sitting eating Pizza or doing boring things like sleeping these days/nights! :wink:

Many are in parallel and I have missed some steps for simplification but you get the idea

  1. Snapshot data was taken, validated and transformed into the basic Nemesis block and used to start and very plain network - Friday and into Sat UTC - complete

  2. Additional config items are added into the block, a simple network is created and regression testing is applied - Friday and Sat all day UTC - passed

  3. Various core accounts, sink funds, multi-sig accounts are injected for the intial nodes below, these need to be tested and validated to ensure they are correct - complete

  4. A public network of 100(ish) nodes is rolled out, secured, dummy network run on it to test infrastructure deployed correctly (Fri, Sat, Sun) - deployment complete, validation is ongoing

  5. Various client apps are finalised (Wallets, Ledger etc) and read to receive the final genesis block - complete

  6. Node monitoring, Explorer and other ancillary but important items are added to the 100 node network and tested

  7. Final final block is crafted and checked, rechecked, agonised over, rechecked. This is expected later today

  8. Block is applied to the network in point 4 and everything is reset, then validated

  9. Automation testing runs to ensure the various test scenarios run on Mainnet are all working

  10. Network is reset, sits for a few hours to ensure finality starts, it is stable, basic transaction tests are applied.

  11. It is opened up for wider world to join and enjoy, genesis seed is published, bootstrap appears etc

32 Likes
Crucial information about Symbol launch at 15.03.2021
NEM (XEM) Price Charts
Symbol Launch Reporting & Single Source of Information
Symbol Launch Weekend - General Update (15/03/2021)
#2

Thanks Dave for the update. Can the desktop wallet you mentioned above (Releases · nemgrouplimited/symbol-desktop-wallet · GitHub) be used to send and receive XYM, or do we have to wait for the wallet that is due for release tomorrow before we can send and receive?

1 Like
#3

Just to be safe and to get the latest and most updated wallet, it is best to get the wallet release after launch.

9 Likes
#4

Correct, thanks Jeff

2 Likes
#5

You said:
"

  • If you opted in successfully before snapshot, you will get them at launch
  • If not, you have 6 years to claim them and its likely to be possible to claim them within ~1 month of launch, more information will be provided post launch on this.
    "
    What does this mean for someone who opted-in not long after the snapshot height?
    It appears that I opted-in at 3105544.

Do I need to keep my XEM at my original NIS1 address until this approx ~1 month timeframe has passed? Or will there be something that is simply processed on the Symbol network that then confirms that NIS1 address had the balance at the snapshot height and sends XYM to the corresponding Symbol address linked to the NIS1 opt-in, irrespective of whether that balance remains present at the NIS1 current block at that future point in time?

In other words, can I move around my balance of XEM at this point and still be guaranteed to receive the XYM I am owed?

#6

Whenever you opt-in, only XEM you had at block 3,105,500 are considered.

#8
#9

While the quote argues “This should be clear to anyone”, as a native English speaker, I just can’t say this is clear to me.

“If you want to optin and you will move funds AFTER snapshot block, they won’t be subject to post-launch optin”

What does it mean to not be “subject to post-launch optin”?

I’ve had XEM in this same account for years, and now I am considering moving them. I opted-in after the snapshot/opt-in date.

Let’s put this in clear terms:
I’ve had XEM in XEM_Wallet_A for years now, including both before, on, and after the snapshot block.
If I move my XEM to another account now from XEM_Wallet_A to XEM_Wallet_B, will the XYM still show up in the XYM wallet tied to the XEM_Wallet_A opt-in, regardless of whether those XEM even exist at this point?

One last question:
When will I receive the XYM balance? It sounds like I shouldn’t expect the XYM deposit at the same time as those who managed to opt-in prior to the snapshot?

#10

xym starts at what price? can start at least $ 2… thanks

#11

Depends on what price buy and sell orders will be. If you are the only seller and price it at 2$, 2$ it will be sold at.

#12

Your snapshot balance counts, what happens after (or before) with your XEM on you account will not influence how much XYM you can claim.
If you optin after snapshot you will receive the same amount of XYM as the XEM that were in the wallet at the time of the snapshot

#13

These threads are very confusing. Today is already the 16th. WHere is my XYM?
I opted in my NEM months ago and have been patiently waiting.
I checked my XYM wallet and the balance is ZERO but there is one transaction removing the XYM that was there on the 11th.

Can anyone please provide clarity, is the XYM already distributed? do I need to link my wallet to a different node?

I am not a techy person so I need simple guidance.

Here is the transaction:

Type:

Transfer

Status:

Confirmed

Hash:

E2BB7261810EEC24D8F66D98F7699FAD2EA9BD31478F3E3530BE4A653B6683EC

Paid Fee:

0 (XYM)

Height:

1

Deadline:

2021-03-12 17:17:05.001

Signature:

893295096EDABBB0AB8F609AE9F81D734E61827A19946D9EAE651F8ACB563DD45A18527025EB8C9D4D742192FE09B96F4811E82CD8D3845FE2FF79A49A58C702

Signer Public Key:

C0CE091D1AA2862DD658551946F4546C6AF1C0C9CADF4480863353873CC97160

From:

NAFAKI-SYNKDD-QZYOFR-L4M7OD-X73C2M-GIKXRT-GEY

To:

NCH5R6-BQSB2Z-TJ6Z2S-W5PSNY-F4P4MA-MG45SK-AZI

Mosaic (1/1) Expired:

2,652.168596 (XYM)

Message:

#14

just chill dude, holy hell. It will be ready whenever it is ready.

2 Likes
#15

you have to install first the last version of Symbol Wallet for Desktop.
Create a new Account from your mnemonic created at Opt-in
then you can se your XYM

#16

I was just going to chime in here and say this. But @DuracellDeMonaco beat me to it. Just install the last released Symbol wallet. Create a new account, and use the mnemonic that was given to you when you make the opt-in request. After you import all your addresses, you should see your balance with the XYM there. You just can’t use the wallet to make any transactions yet.

#17

Another way to check balance is to paste and search for your account (Symbol XYM wallet address) NXXXX-XXX it will show your XYM balance under the owned mosaics - symbol.xym

http://explorer.experimental.symboldev.network/

You would’ve received your XYM wallet address during opt-in process when mnemonic was created,

1 Like
#18

I’ve tried that site, but the search would always fail for me. Maybe it was broken when I checked.

1 Like
#19

Llevo poco tiempo con criptos y estoy un poco perdido. En el momento de la instantánea tenía en mi billetera de binance mis NEM, de hecho aún las tengo. Que debo hacer para recibir mis XYM y cuando sería esto? Gracias

#20

Binance se encargará de todo por ti, pero debes ser muy paciente
es importante respetar las reglas del airdrop

#22

Any idea when Binance will inform about the symbol launch and deposit XYM to accounts?