All XEM holders on 12/03/21 will be awarded an airdrop of XYM tokens at a ratio of 1-1. So if you held 1,000 XEM tokens on the specific date, you’ll receive 1,000 XYM.
In plain English, as a XEM holder, you are essentially getting the XYM tokens for free to promote the new Symbol project by NEM. You will then, at some point, be able to sell or trade them once market value has been established.
What is the XYM token?
The NEM (XEM) community has introduced a new project called Symbol (which uses a new token called XYM). The Symbol project is described as “the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. With major upgrades in flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.”
What is an airdrop?
An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.Wikapedia
How to get your XYM
The XYM token has been listed and distributed on major exchanges such as Binance. If you check your spot account balances it should appear in there if you were legible for the airdrop.
When you can sell or trade your XYM
Currently XYM has been distributed on Binance but is not available to trade or withdraw until 4th April 2021.
The XYM token is not currently listed on Swyftx.
The XYM token is listed and trading on KuCoin exchange.
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