XYM Symbol

XYM is the native token of Symbol, a layer-1 blockchain platform that launched in March 2021 as the spiritual successor to NEM. The network is powered by a custom consensus algorithm called proof-of-stake-plus (PoS+) and runs on a C++ client known as Catapult. Symbol introduces several distinctive features, including rule-based tokens called mosaics, hierarchical namespaces, multisignature accounts, and aggregate transactions, giving developers flexible tools for building decentralized applications. The platform is particularly popular in Japan and Korea, where its community is active on regional messaging services such as LINE and KakaoTalk. Notable projects in the Symbol ecosystem include QUEST, a creator-focused bounty and tipping platform, SYMBOARD, a business loyalty and rewards system, and THE TOWER, an on-chain dungeon crawler. The network also supports NFT-focused services such as NFT DRIVE and the COMSA marketplace. In November 2021, Symbol was forked by a pseudonymous team in an effort branded Cyprus, aiming to evolve the platform into an omnichain network with content-specific shards powered by zk-STARKs and network-wide security.