Symbol (XYM) airdrop for NEM (XEM) holders

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33 comments

  • Avatar
    Bojan Gasic

    If I have a Coinspot account and I hold NEM what do I need to do to opt in?
    And will I receive 1 XYM for every NEM I own?

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    Bojan Gasic

    Is anybody going to reply to my comment? If I have XEM in a coinspot account do I have to do anything to opt in or will it be done for me

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    Reina Bartram

    Great question...if coinspot is stating they will distribute xym based on how much they recieve I too am questioning will that mean I dont get the 1-1 ratio stated on the nem website? If so it will be more beneficial for me to take my nem and hold it there with the symbol opt in? Is this what you recommend coinspot?

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    Brian

    Yes. I'd like an answer to this as well. I am worried that leaving my xem in coinspot will mean I won't get 1 for 1. It doesn't sound like Coinspot is getting 1 for 1, and we will only get a part. I think it might be best to move the xem to an external wallet.

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    Brian

    Just noticed that Binance are offering 1 for 1 and you don't have to do anything. Maybe can move to Binance instead. If no one can be bothered to answer here I think I'll move all my tokens and business to Binance.

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    Reina Bartram

    May be worth giving coinspot time to answer just to save on the fees...however It does read as tho we wont be getting 1-1xem nor 1-1 xym only a percentage based on what is held

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    Brian

    Took to long to respond. The fees were quite reasonable to get it to Binance actually. Only 4 Nem.

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    Reina Bartram

    Good thinking

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    Alihaire900

    Agreed - this was a disaster - I'm now moving all my business to binance. I wasn't impressed with coinspot fees and bad spread already, and now I've lost a lot of money thanks to coinspot not dropping like everywhere else. Heads up coinspot dont participate if you cant follow through

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    ISIL KARDAS

    Disappointing! No info for any lose!

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    Adam

    Hi, I see the mainnet has launched and XYM has distributed to wallets that opted in. Presumably Coinspot is now calculating per user amounts. Do you have an ETA or update please?
    Thankyou!

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    Alihaire900

    They better be doing 1:1 - its taking them forever. Not to mention the complete lack of communication on it.

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    Nick Mercuri

    We have been waiting patiently for Coinspot to list XYM and confirm distribution details for XEM holders but all we receive is the most vague, uninformative information.  Other exchanges (Coingecko, Coinmarket, etc) have professionally kept members informed and have in fact gone live with trading but Coinspot continues to keep us in the dark.

    Such a shame as I have been an advocate for Coinspot and have bought quite a few members to the platform, but this is not a good way to treat members.  I trust that Coinspot will step up and get this situation sorted promptly.

    Like all of you, I would be extremely disappointed if we do not receive 1:1 as other exchanges have done.  This will be the test to see if this exchange is up to the job.

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    Alihaire900

    100% - Well said Nick - though in my mind Coinspot has already failed with its complete lack of communication.

    Here is the message I got from support - pathetic and a copy paste of the message I an already see here
    =========
    Hi,

    Thanks for contacting us.

    CoinSpot will support the Symbol (XYM) airdrop on behalf of users holding NEM (XEM).

    The snapshot has already been completed, distribution of Symbol (XYM) will occur once the XYM mainnet has launched and our Development team have ensured the new XYM wallets and network are secure. 

    Further updates will be made available via the notification banners on your account. 

    We appreciate your patience and support. 

    Kind Regards,
    James

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    Alihaire900

    @coinspot

    ANSWERS REQUIRED:
    1. SPECIFIC DATE
    2. IF IT WILL BE 1:1 DELIVERY

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    Nick Mercuri

    Hi Alihaire900.  Yes, the reply you received is the same, single paragraph, generic statement they have put out which provides no information at all.  Not just on this platform but also via Reddit etc., Coinspot have failed to answer any questions put to them regarding the airdrop.

    You are probably aware that Binance has completed it's XYM distribution and have kept members updated throughout.  That's where the difference in professionalism really shows up between these exchanges.

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    Alihaire900

    So started a chat - Iresh the representative also just said for 
    1. We dont have an ETA (no reason or justification given despite asking) - we'll let you know when we do (um what... suggest telling members what the hold up is)
    2. We dont know the distribution (again no reaon)

    When asked how it was they have no details I got this response:
    "Thanks for waiting. Unfortunately details regarding the distribution have not yet been provided. We hope to receive updates some time soon but are unable to confirm any information as of yet. Once further details are received, it will be communicated to members via the banners within their wallets. If you have any other queries or questions in the meantime, please let us know."

    So hey hope that helps other pissed off members here

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    Alihaire900

    Yep Nick - I 100% regreat not moving to Binance and will be doing so

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    Gautamkr

    TBH, I wouldn't trust any exchange for airdrops. I opted in via the NEM wallet and got my SYM 1:1.

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    Alihaire900

    Smart! Will definitely be doing this in future - thanks for the tip

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    Alihaire900

    Coinspot is saying they are waiting on their OWN wallets team for an update - when pressed on what they are waiting on, they didn't know.

    Reeks of a problem this does

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    Alihaire900

    Maybe time to drop this platform

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    Gautamkr

    Furthermore, you can stake using the NEM wallet. So, earn free NEM while it is sitting there. Win/win.

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    Nick Mercuri

    I have historically been loyal to platforms/exchanges etc., whether it be crypto, shares or whatever but it is hard to be loyal to an exchange that has no loyalty to us.  Moving the coins to dedicated wallets seems like the best option to avoid situations like this and we then have a free range of choice as to which exchange to use at a later time if and when we resell.

    A few years ago when I began using crypto I would move everything across to my wallets immediately after buying but I reduced the instance of this in more recent times in order to avoid the additional transfer fees.  It seems that I may have to go back to the old methods.

    Coinspot, due to your margins between buy/sell and your unprofessional approach to communication, you are losing your credibility.  You should remember that it is us members who refer & recommend trading platforms to other crypto enthusiasts.

     

     

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    Alihaire900

    100% agree - fees and spreads on this platform are horrific already, adding lack of communitcation and support - well you might as well sound the death knell for yourselves. Particularly when you couldn't even be bothered responding to users complaints in any proactive or productive manner

    heres more on xym

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    Themorgangang

    I too am waiting and have received vague replies from coinspot. I've just emailed NEM/Symbol to ask for clarity:
    'Hi, congrats on your successful launch. As I had Nem at snapshot, on the coinspot exchange, I'm looking forward to receiving symbol.
    As I can't get anything but vague information from coinspot, I'd appreciate it if you could clarify-
    1. When will coinspot receive the symbol airdrop?
    2 When should nem holders expect to see their symbol tokens through coinspot?
    3. Are there any grounds for coinspot reducing the 1:1 ratio?

    With Thanks

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    Sabarishmurugappan

    This is the reply I got when I enquired y Coinspot if not giving information & should I consider using a different exchange.

     

     

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    Themorgangang

    Thanks for sharing. The reply is still vague on time-scale and ratio and is suggestive of something less than transparent. Furthermore, to suggest we use a wallet in future airdrops is distinctly passive aggressive. I'd suggest coinspot should do it right or don't do it at all. Their open statement of support for the airdrop was accepted in good faith by users.
    I'm very unhappy with this whole process I don't have control of the symbol asset at a critical time due to something untoward in coinspot.
    If not resolved asap I will certainly move assets from coinspot and avoid using them in future. Family and friends who use coinspot and are waiting for symbol, are similarly unhappy.

    Big Q is why are coinspot behaving in a way that self-inflicts reputational damage?

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    Alihaire900

    Finally dropped. Terrible handling of the whole situation coinspot

     

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    Matt Burrell

    Thank you coinspot. This was my first airdrop, was disappointed with auto responses and general unwillingness to hand out information. Even a few responses to above questions would have helped greatly. I'm sure you were flooded in live chat, myself one being one of them. All in all you made me hodl longer than would have so better return and 1:1 awesome was pretty concerned there. Thanks again better updates next time.

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