NYM tokens will be going live next week — what next?

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Nym is a decentralised global privacy layer for any app, coin or wallet. The Nym infrastructure has its own token to ensure that the thousands of people across the world who are operating the infrastructure are fairly rewarded. This allows it to remain decentralised and sustainable in the long run.

In more immediate news, the first tranche of NYM tokens (option 1) will soon be out in the wild! Everyone needs to have just a little more patience. Many people in the community who purchased Option 1 have asked for a way to stake their tokens to bond nodes or delegate. This requires using a bridge, which is taking some time to get working and secure.

The CoinList Option 1 release date has been pushed back and is now set to the 14th (or the 15th of April depending on which timezone in the world you are in).

This blogpost explains what happens next.

If you bought Option 1

You will receive your NYM (ERC20) tokens to your CoinList wallet on April 14th, Exact timing will be announced by CoinList.

You can then:

• Use these tokens to access the mixnet — instructions will be announced shortly. Also note that the mixnet will be free to use for the first 6 months.
• Convert your ERC20 to native NYM (Cosmos) tokens to pledge a node, delegate and participate in the infrastructure. Instructions for how to do so will be available shortly.

If you bought Option 2

Coinlist will send you instructions on how to submit your Nym wallet address closer to the distribution time in May. Your native NYM tokens will go on a vesting schedule, with the first release on or around May 3, 2022. For now, sit tight, download the Nym wallet and familiarize yourself with the Nym architecture. Also note a new version of the wallet will be out this week.

• If you want to run a Nym node, read here.
• Learn how to pledge and delegate your tokens — here.

Rewards if you participated in the NYM testnets

If you were part of Nym Milhon testnet, registered your participation with the Nym Elephant and passed KYC, you will be among the first to receive native NYM tokens. These can be used immediately to pledge and run mixnodes in the Nym mainnet via our vesting contract!

Please await email communications from us on how to send us your wallet address . The emails will be sent to verified CL and Synaps addresses.

Nym NYMPH testnet participants, please wait for instructions on how to verify your participation for rewards.

NOTE: Rewards will not be turned on until all token holders have been onboarded.

So if it is taking a little time to get your tokens and set up your mainnet node, don’t worry — you will not miss out on rewards!