Retrieving your XYM from a post-launch opt-in

This guide explains how to enroll in the opt-in process once Symbol has launched (this is, after March 12, 2021).

If you opted-in before the launch and you are looking to retrieve your new Symbol currency, read the Retrieving your XYM from a pre-launch opt-in guide instead.

Introduction

NEM NIS1 is the original blockchain offering from NEM, created by the community, and has been running since 2015.

Symbol is the next-generation blockchain from NEM, rewritten from scratch, and launched in March, 2021.

To quickstart Symbol’s adoption, an opt-in process was established which awarded one XYM in the new Symbol blockchain for every XEM (NIS1’s native currency) held in the NIS1 blockchain.

The opt-in Process

On March 12th, 2021 the NIS1 Snapshot took place: When the NIS1 blockchain reached block height 3‘105‘500 a picture was taken of all accounts and their assets.

Then, on March 16th, 2021 the Symbol blockchain was launched.

After the launch, all accounts that held at least 2 XEM at the snapshot can still reclaim an equal amount of XYM, to be transferred to a Symbol account.

This process is called the opt-in, and will be open for 6 years after the launch.

This guide explains how to participate in the opt-in.

Guide

The opt-in process is conducted entirely from within the NEM Wallet, but first, you need to retrieve the public key of the Symbol account where you want to receive the XYM:

  1. Download and install the Symbol Desktop Wallet for your platform, if you don’t already have it.

    Please note that this is different from the NEM Wallet used to interact with the NIS1 blockchain.

  2. Create the Symbol account where you would like to receive the assets, if you don’t already have one.

    Read the Creating an account guide to know how to do this.

  3. Find your account’s public key in the Accounts tab. You will need it later.

    ../../_images/post-launch-optin-1.png

    Use the copy button to the right of the key (do not try to select and copy the key’s text directly as it is too long and it is truncated).

Now that you know where do you want your XYM transferred, you can start the opt-in process:

  1. Download and install the NEM Wallet for your platform, if you don’t already have it.

    Make sure you have installed at least version 2.6.0, so the post-launch opt-in module is present.

    ../../_images/post-launch-optin-2.png
  2. Log in to the account containing XEM at the snapshot.

    ../../_images/post-launch-optin-3.png

Importing from another wallet

If your NIS1 account is held in a wallet other than the NEM Wallet, you will need to import it into the NEM Wallet.

First, you need to retrieve the account’s private key from the wallet. The procedure depends on the wallet but here are instructions for a few popular ones: Atomic Wallet, Exodus, Coinomi, Magnum.

Then, you need to import the private key into the NEM Wallet:

  • Click on SIGN UP in top right corner.
  • Click on the Private key wallet button and then on Ready.
  • Choose the Mainnet network and click on Next.
  • Give your new wallet a name and a password to protect it.
  • Enter the account’s private key that you retrieved from your other wallet. Your NEM address will be presented.
  • Read carefully the security notices and finish the import process.
  • Back to the LOGIN screen, select the new wallet, enter its password and click on Sign In.

Importing from a wallet (.wlt) file

If you keep your NIS1 account in a .wlt file you will need to import it into the NEM Wallet too:

  • In the LOGIN screen, click on the Import Wallet yellow button.
  • Select the wallet file (the one with .wlt extension) and finish the import process.
  • Back to the LOGIN screen, select the new wallet, enter its password and click on Sign In.
  1. Once you are logged in to your NIS1 account, click on the Symbol opt-in module in the Services tab:

    ../../_images/post-launch-optin-4.png
  2. Click on the READY button:

    ../../_images/post-launch-optin-5.png
  1. Select the account you want to opt-in. If you only have one account in the wallet, there will only be one option.

    ../../_images/post-launch-optin-6.png

    The screen shows a summary of the process and highlights any problems, if there are any.

    Remember that the Amount to claim is the amount present in the account at the snapshot.

    If everything is right, click on START OPT-IN.

  2. Enter your Symbol account’s public key. This is the public key your copied in Step 3 above.

    ../../_images/post-launch-optin-7.png

    Once you enter a valid public key, more details will appear. Check that the Symbol account’s address corresponds to the desired account and click on NEXT.

  3. Final verification and acceptance.

    ../../_images/post-launch-optin-8.png
    • Do one last check of the destination Symbol account and balance.
    • Accept the terms and conditions and the privacy policy.
    • The opt-in process involves registering a transaction on the NIS1 blockchain. This has a fee, shown on this summary screen.
    • Enter your NEM Wallet password to confirm the process.
    • Click on SEND.

If the opt-in is successfull you will be taken to the initial Summary screen where you can see the status of the process:

../../_images/post-launch-optin-9.png

Since it can take more than a week for the XYM to be transferred, you can come back to this screen to check on the opt-in status.

Notes on multisig accounts

When opting-in multi-signature accounts (multisig) a few points need to be taken into account:

  • The multisig account cannot opt-in for itself, it needs to be opted-in by ALL of its cosigners:

    • The opt-in process must be initiated by one of the cosigners, selecting the multisig account as the account to opt-in, and entering the Symbol account’s public key.
    • The rest of the cosigners must opt-in the multisig account too, but they won’t be required to enter the Symbol account.

    For clarity, the wallet shows which cosigners have already opted-in the multisig account and which ones are missing:

    ../../_images/post-launch-optin-10.png
  • The Symbol account that will receive the opted-in XYM must be a multisig account too, with the same amount of cosigners.

Troubleshooting

This is a short list of items to check should you encounter any problem when opting-in your accounts.


Last updated by Xavi Artigas on 2021-07-07.

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