The animation was done in two parts, the dotted outline, and the cut-out effect, then Imported into the Animation page and exported as one animation. I applied a blue Dash-pattered outline around the symbol. I decided to do 18 frames and counted the individual dashes, divided by 18 and came up with a number of about 8 dashes per section. I used the Shape Tool and the Break At Points button (described earlier) to remove a section at a time from the 18 copies of the frame, working backwards so the first frame had no outline and the final frame had a complete outline.

I joined (Arrange--Join) the symbol with the rectangle creating a cutout where the symbol and type were. I made a copy of the symbol before joining the original with the rectangle, and filled it pale blue.

The illustration to the left shows the layers used in the cut-out shape portion of the animation. I made a duplicate of the cutout shape and used the Shape Tool to shorten the outside to about 1/8 inch all around the symbol. I filled this 60% black and set it behind the larger rectangle with the cutout shape. I placed a lighter gray square behind the dark gray cutout, grouped the two. As the blue panel drops down we see the blue through the cut-out letters. I cheated and used a solid pale blue rectangle behind the type.