Symbol Snapshot and Launch Confirmation (published 06/11/2020)

Symbol Snapshot and Launch Confirmation

(published 06/11/2020)


coming soon

Hi all,

Following on from the discussion threads on the forum a few days ago, and from ongoing testing and development work, this is an update to clarify a few points on snapshot and launch. It is made on behalf of NEM Group, with agreement from Core and has been validated with the various dev/test teams.

Snapshot (publicly known, will be max 2 days before launch)

  • Snapshot will happen a maximum of 2 days before launch and is dependent on launch date

    • At present that means Snapshot will occur between 15th and 17th Dec
  • Snapshot Block height will be communicated publicly

    • Exact day of snapshot will be published a minimum of 14 days before launch following some trial runs
    • Exact block height will be published a minimum of 5 days before launch

Opt in (open now):

  • Pre-launch opt in will close 5 days before launch to ensure the trial runs are using a known set of accounts and likely balances.
  • Post launch opt in details will be communicated before launch, balance held at snapshot will be claimable for 6 years post launch
  • 1 XEM at snapshot block height = 1 XEM + 1 XYM at Symbol launch

Launching on 17th Dec 2020

  • Involves the following main items:

    • Core server issue resolutions, targeting 11th Nov
    • SDK + Rest resolutions for the above, targeting 13th Nov
    • Security test and review of the above, targeting 17th Nov
    • Testnet patch with above targeting 17th Nov
    • Desktop Wallet release (9th Nov and 16th Nov), allowing wider testing
    • Core, Rest, SDK and Wallets code freeze and remaining soak 16th Nov
    • Community testing on Testnet (ongoing)
    • NGL Full end to end testing on Testnet (ongoing)
    • NGL Performance testing on Testnet (ongoing)
    • Public Symbol network creation, trial runs, smoke testing etc (ongoing)
    • Tokenomics updates; Voting rewards and date assumption (early Dec)
    • Node monitoring and Supernode/Voting payment solution (early Dec)
    • Post launch opt in solution complete and tested (early Dec)
  • There are still risks between now and launch; work is ongoing and issues are being found and resolved. The launch date will be publicly confirmed regularly between now and launch. We are actively assessing it with the various teams, at least bi-weekly.

  • In the event of anything occurring that changes the launch date(s) we will communicate that as soon as practical. To clarify a point above - if there was a delay, snapshot and pre-launch opt in closing will move with the launch date.

There are a number of discussions that will be posted in the coming week or two which we would appreciate the community’s continued input and concentration on.

As always, if there are questions, concerns, conversations that need to be happening please alert us to them. While we are focussing very heavily on delivery, we are also listening to the preferences being expressed and welcome the dialogue