26 Apr Symbol blockchain news update – 26/04/22

Another short one today – Twitter seems very quiet at the moment! I bet as soon as this goes out there will be a ton of interesting stories posted but I’ll get this out now and hopefully will have a longer update for you all next time! 😊

Post opt-in coming soon

I have to admit I never would have worked this out without the clue that Jaguar gave us: “we need a blockchain detective”. If you look at the Symbol treasury account you will see that a transfer of 767,602,982.25 XYM was made to a new account NBANKCSJRQ7O34R7ORKSSGV2GDX6UA4J3AHVCRI at 22:46 yesterday. Then, almost immediately after 30,000,000 XYM was sent from this account to NCOW4AP3OV3EHCN46625F4276JAOTA7R5YTQKNI (see the cow reference?) with the message “Post Opt-In – First Redemption Run”.

So, either this is a huge coincidence, or I am assuming that this was the reference and post opt-in will be resumed in the imminently. If you didn’t opt-in before release and you held XEM at the time of snapshot then now (finally!) you will be able to get your hands on the equivalent amount of XYM. I think that the post opt-in process will be time limited but I am not sure of the details yet. I am sure that there will be an official announcement very soon though and I will report on this once I find out more.

🕵️🐄 "Post Opt-In – First Redemption Run"https://t.co/KTOEeDgZlQ#Symbol #XYM https://t.co/O0XVw15DRn

— Symbol Blog (@blog_symbol) April 26, 2022

Also spotted some work in the design section on Discord so expect an announcement soon…

New exchange listing coming soon?

Hmm, interesting.. Looks like the team are in communication with a mystery exchange to enable them to integrate Symbol into their platform. Obviously no details on the exchange in question but good to see that something is in the pipeline! 😊

Maybe it is MEXC? 🤔

NEM node reward revamp

Looks like work on implementing node rewards for NEM are progressing well. This would lower the supernode requirement to 10,000 XEM and give incentive to far more XEM holders to run their own node. Don’t expect huge rewards but hopefully you will recoup some or all of the costs of running a NEM node. We can also see that the backend to the post opt-in is complete (see above) and the treasury proposals update is interesting – I don’t know what this refers to but now I am sniffing around for a story 😁

Thanks!

Thanks for reading, I will be back again soon with another Symbol Blog update!

If you are a regular reader then please consider delegating to my node xymharvesting.net 😊