01 May Symbol blockchain news update โ 01/05/22
Back again for a quick update, feeling pretty low so trying to get the motivation and enthusiasm levels up. It isn’t crypto-related but looking at what is happening out there definitely isn’t cheering me up either! ๐ Just been reading about ETH gas fees and Solana woes whilst catching up on Symbol news. I guess we can be happy that we don’t currently have any major dramas! ๐ I do wish I had some earth money to buy some more XYM (and maybe a little XEM too) unfortunately I don’t so will just have to make do with the harvests and HODL on as always ๐
What doesn’t kill you makes you stronger ๐
Over 100 million XYM has now been distributed during the first three rounds of post-opt-in and it looks like there is another 640M+ still to go ๐ฌ I guess not all of this will be claimed and I am not sure what happens to these funds (burned? put back into the ecosystem?), we will find out soon enough I am sure. According to Hatchet, it seems that a large proportion of the “free XYM” distributed has been immediately dumped on exchanges.
This, coupled with the general downturn in the market means some short term price pain for us I think. The airdrop of post-opt-in funds apparently will be ongoing until May 10th. Another 9 days and then post-opt in will be over and hopefully, we will start to see a change of fortunes๐ค. I really hope that we see a redistribution of some of this wealth into the wallets of buyers that are actually interested in Symbol and will support the ecosystem rather than being solely focussed on making a quick buck (never the wisest choice with Symbol and NEM!). We need to expand our user base and I hope that cheap XYM will bring in some new faces that have been waiting patiently and help those that were priced out previously to get harvesting and get involved in the community.
For those of you that are receiving your XYM distribution, welcome to the family and I really hope that you stick around and help us grow ๐
Coming back to this (I took a break to look after my son for a few hours), I just spotted that there is some discussion on how to run a successful airdrop on Discord. Spoiler – the Symbol airdrop was a great example of how not to do it ๐
I think we have all learned from what happened and it is logical in hindsight that those contributing to the good of the project should have been rewarded for doing so. This obviously helps keep valuable community members and discourages the bad apples with deep pockets that have zero interest in giving anything back. If we are in this situation again in the future then I think that things will be done very differently.
And back to those that are sitting back, feeling angry, complaining and yet not contributing anything worthwhile to the project. Jag has a message for you:
We want to build something worthwhile, something valuable in terms of utility and community. There are a ton of people out there that are passionate about Symbol and NEM, those that give up their time to build, learn and promote. These are the people that we need to keep and that we need to support. We want to build a movement not perpetuate a toxic culture. If you don’t believe in the vision then this really is not the place for you.
Let’s hope that those moonies that want out will open the door for an influx of new people who add value to the community. Maybe it will encourage some of you that might be standing on the sidelines that want to see us succeed to come out of the shadows and lend a hand.
COMSA and on-chain NFTs
We are used to the world of on-chain NFTs in Symbol but the rest of the crypto world is blissfully unaware of this. COMSA is the only platform out there that specialises in fully on-chain NFTs. We should be proud of this and let the rest of the world know. I know that the user interface could do with an overhaul but the technology is there so why is it not used more widely?
Having on-chain NFTs solves a major weakness with other NFT marketplaces. The data is always there, it won’t just disappear, you can always fetch your images directly from the blockchain. I am not sure of the full story here but it looks like an NFT collection just disappeared from OpenSea and as kotopapa points out with on-chain NFTs you are not dependent on external websites to host data. This is a major advantage of COMSA over other platforms. Maybe one day the rest of the world will catch onto this.
Help for Ukraine
I don’t know much about this project but it looks as if the community is continuing to fundraise for Ukraine by holding a charity art festival.
By the looks of it the first event has already happened on cluster – it was all in Japanese but it looks like a lot of fun was had by all. If you are a Japanese speaker or are just curious to see what happened at the event then you can catch up with all of the goings-on on YouTube.
There is also a link to an English description of the project and there will be more events to come by the looks of things.
The Tower in Korean
Great to see that Toshi’s The Tower is going truly international and yet another language, Korean, has been added. I know that there is a big Korean community out there, some of you even read the blog, so please go check out the game – it really is worth playing ๐
Symbol Node List – new features
It looks like Symbol Node List has some new features! You can now enter server stats (CPU, RAM, storage) as well as information on the model your node operates on (e.g. kickback node, community contributor, distribution of fees to support other projects etc).
I updated my node information on the site but I have no idea if I selected the correct category – maybe someone can tell me what it says in blue below and if I selected the right option! ๐
10 XYM silver coin preorders
The time has come to get your pre-orders in for the 10 XYM and 10 XEM silver coins. If you are in Japan you can go directly through the website. If you are an international customer then you will need to DM @sakamotometal to pre-order.
I have mine reserved ๐ฌ๐ง ๐ Shipping was ยฅ2,000 on top of the cost of the coin (this will probably vary depending on where in the world you are located).
Thanks!
Thanks for reading, sorry for being on a bit of a downer today, I actually feel a little better having sat down to write and take my mind off other things so thank you all for indirectly cheering me up! ๐ I will be back again very soon with another Symbol Blog update!
If you are a regular reader then please consider delegating to my node xymharvesting.net โค๏ธ
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!
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