16 Feb Symbol blockchain news update – 16/02/22
Good morning and welcome to another Symbol Blog update! I think it will be a short one but there is some really cool stuff happening at the moment so it’s definitely worth bringing you up to date on what’s going on!
New exchange listing
Great to see XYM being listed on another exchange! This time it is xt.com which, although I have never heard of it, is ranked at number 33 on CoinMarketCap’s spot trading exchange list with a trading volume of $996,299,187 in the last 24 hours. If you are an xt.com user then why not top up your Symbol holdings whilst it is still cheap? 😁
CoinCheck finally distributes XYM!
Better late than never but it has taken almost a year for CoinCheck to distribute XYM to XEM holders at the time of the snapshot! Pretty bad form if you ask me, users have lost out on 11 months of harvest income 😭 I guess it’s a case of buyer beware, opting in from your wallet was always a safer option than relying on an exchange to do this for you.
Anyway, it’s good news for those that have had their funds locked but unfortunately, there is no Coincheck XYM listing yet, sure this will come but given their past record it might take them a while! 😁
I am sure that a lot of these funds will be sold so I am guessing that price may be affected in the short term but I am no trading analyst so what do I know?! 😆 It will also likely lead to a lot of new harvesters so you may notice that you harvest fewer blocks due to increased competition. I guess it might be good news for node owners in that their harvester numbers might increase. I have a feeling that these harvesters will probably delegate to members of the Japanese community so I am not getting my hopes up for new delegates 😊
Valkyrie updates
Great to see that there will be regular updates from the Valkyrie team on Discord. We are seeing complete transparency not only from the team but from partners as well. It is really encouraging to see that lots of things are happening behind the scenes here and I am sure that this will give the community confidence that we are really benefiting from this collaboration.
It seems that we will also get a monthly summary of activities (as well as Leah’s weekly Discord updates) – love that we are seeing engagement with the community. It is such a refreshing change from the old Foundation and NGL days where nobody knew what (if anything) everyone on the payroll was doing.
Changes to block rewards
It’s that time again 😭 Block rewards have been reduced so now you will earn 112.79 XYM per block if you are delegating to a node and node owners will receive 40.28 XYM from the node reward. This isn’t necessarily bad news for us as since COMSA launched we have seen fees paid increase which probably compensates for the block reward changes overall. Let’s hope COMSA activity continues to grow so that we don’t take a hit in the next reduction in three months time 😊
Symbol goes gaming crazy with some crazy games!
I am sure that I could write an entire blog post on this but you will have seen from Twitter that the NEMTUS Hackathon is now over and all of the entries are available for us to play for free! There are some really awesome entries and all are integrated with Symbol in some way which really showcases that there is a lot of potential for using Symbol in games development.
I have played a few so far, I found out that my typing skills were not as bad as I thought. I went on an adventure with a cute hedgehog and his friends as well as dabbling in a few other games (have some more still to play). So far my favourite is @toshiya_ma‘s awesome adventure game “The Tower” – it really is fantastic! With some minor tweaks such as increasing the difficulty and diversity of the enemies as you progress up the tower, adding some more weapons etc I would gladly pay money to play this.
I think I got a little carried away and competitive with @cryptoBeliever_ and I am currently at the top of the leaderboard! Probably not for long though 😁
I would also love to try this game but it is in Japanese and I don’t understand a word of it! It looks so slick it could be a commercial game already and I think it is a multiplayer world too. Would really like to see this translated into English – maybe this would make a good QUEST listing!
Price speculation
I don’t talk about price much as I am hopeless at predicting the future 😂 Surely we would all be rich if there was much of a science to it? My strategy has always been HODL through the good times and the bad. It is a no brainer now with all of the great things happening with Symbol at the moment, we really are seeing some momentum and it won’t be long until people start noticing.
Anyway, if you want to see what the pros think then get on over to Discord in the #speculation channel and see what Valkyrie’s @CarpeNoctom has to think about the current market and where it might go from here.
Thanks!
OK, I am going to leave it there for today. Enjoy your Wednesday’s and make sure that you find some time to play all of the Hackathon games! 😊
If you are a regular reader and would like to support the blog then please consider delegating to my node xymharvesting.net or if you’re feeling really generous, making a donation.
I’m a Symbol and NEM enthusiast and run this blog to try to grow awareness of the platform in the English-speaking world. If you have any Symbol news you would like me to report on or you have an article that you would like to publish then please let me know!
Sorry, the comment form is closed at this time.