XYM

XYM is the native cryptocurrency token of Symbol, a public blockchain platform developed by the NEM Group as the successor to the NEM NIS1 system. Symbol began its public rollout in 2021 and uses the Catapult engine to provide a modular, enterprise-friendly infrastructure with features such as asset tokenization, namespaces and mosaics, multisig accounts, and aggregate transactions.

In Symbol, XYM serves as the medium of exchange for network operations. It is used to pay transaction fees and can be involved in network consensus through a process known as harvesting. Harvesting allows eligible participants who hold XYM and run harvesting nodes to earn rewards sourced from transaction fees and block generation.

XYM has a fixed supply cap, commonly cited as 8,999,999,999 XYM. This finite supply is intended to support long-term network economics and ecosystem funding, with distribution mechanisms tied to governance and development needs.

Governance and development of Symbol are led by the NEM Group, with involvement from the Symbol Foundation and the broader community. The project emphasizes open-source collaboration and ecosystem stewardship, aiming to foster enterprise adoption through robust security, interoperability, and scalable performance.

Use cases for Symbol and XYM span asset tokenization, cross-border value transfer, supply chain provenance, and other enterprise applications. The platform supports developers and organizations building decentralized applications that require verified authenticity, traceability, and programmable business logic, with XYM serving as the economic backbone of the network. Exchanges and wallet providers offer XYM trading and storage as part of broader access to the Symbol ecosystem.