On the 14th of January, 2021 NEM will launch the Symbol public blockchain and introduce a new token called XYM. The original NEM NIS1 blockchain will stay intact, so will any XEM tokens. The Symbol blockchain is a next-generation enterprise-grade blockchain developed by NEM. Symbol aims to offer a couple of interesting features such as cross-chain transactions and a new POS+ (Modified Proof-of-Stake) consensus algorithm.

In case you are a user holding XEM on Bitpanda, you don’t have to worry, as we will take care of everything for you. We decided to fully support NEM’s XYM airdrop, which means that we will handle the opt-in and credit XEM holders on Bitpanda (broker) with the new XYM tokens.

To do so, we will opt-in (claim) until the 9th of January, 2021 and take a snapshot of user holding of XEM on the 14th of January, 2021. As a next step, we also list XYM and airdrop XEM holders the new XYM tokens.

Please note that while we will credit XYM tokens to XEM holders and currently plan to list XYM as a new digital asset on Bitpanda, we will evaluate the situation after the upgrade and may decide to not list XYM.

You can find more information including the official Whitepaper on the official Symbol (XYM) website.