The crypto world is currently abuzz with the upcoming launch of Symbol mainnet by NEM and for all the great reasons. It’s said that Symbol marks the herald of the next chapter for NEM, unfolding excellent possibilities for XEM holders. What’s so amazing about the upcoming NEM mainnet is that it’s a state-of-the-art enterprise-grade blockchain- a purpose-built system designed to enable companies to reap the business advantages of blockchain. It’s good to see that blockchain is evolving and steadily affirming its footprint into the mainstream business world. And we have developments like Symbol to credit for such cutting-edge prospective. 

The Symbol mainnet will be officially launched on March 15, 2021. 

How would Symbol benefit businesses?

So, what does Symbol have in store? Well, Symbol has been intelligently designed to assist businesses in streamlining innovation, reducing costs and curbing complexities. The enterprise-grade blockchain speaks of hope with its assurance of major upgrades in speed, security, flexibility and usability over the actual NEM blockchain. It’s more like experiencing a more advanced version of NEM and that’s always welcome. 

The NEM team is aimed to escalate Symbol as the ideal go-to blockchain platform for enterprises. If they stay true to their promises, Symbol is surely going to command an unrivalled edge in the market of enterprise-grade blockchain.

2x assets for XEM holders

Symbol has got a pleasant surprise for XEM holders who will choose to migrate to Symbol blockchain. And this is one of the  best things that I especially like about the upcoming mainnet.

But, before getting into further details, it must be mentioned that if a XEM holder decides to migrate to the upcoming Symbol mainnet, his holdings with NEM won’t be cancelled. 

So, what surprise does Symbol have got for XEM holders? Well, the NEM team has announced that every XEM holder who will migrate to Symbol will receive the equivalent XYM (Symbol’s native token) holding matching with the exact amount of their XEM holding.

Put simply, after migrating to Symbol, your 1 XEM would be equivalent to 1 XEM + 1 XYM. In other words, registration with Symbol will double up the holdings of all XEM holders. 

XEM holders willing to migrate to Symbol will have to follow a process called “Opt-in” which can be conducted from both desktop and mobile phone. The NEM wallets have already incorporated the Opt-in module and one would just have to download the upgraded version of the wallet and select the Opt-in tab to receive XYM holdings. The Opt-in opportunity is open till the Snapshot stage which will be closed by March 12, 2021. 

With such innovative opportunities on the plate, it won’t be exaggerating to infer the Symbol launch is soon to take the crypto world by storm, pulling in rising traffic to the NEM ecosystem.. 

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