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Binance to Convert Delisted Tokens to USDC by 2025
https://ift.tt/EUYHvh2
After that, these tokens will no longer be supported for withdrawals or transfers.
The conversion process will be completed by April 28, 2025. Let’s discover more about this important news for Binance.
Tokens Affected
- Vai (VAI).
- Tornado Cash (TORN).
- OMG Network (OMG).
- Waves (WAVES).
- NEM (XEM).
- Bainbridge (BOND).
- Dock (DOCK).
- Mdex (MDX).
- Polkastarter (POLS).
- Pundi X PURSE (PURSE).
.@binance will perform a conversion of the below tokens to $USDC based on users’ holdings in their Binance wallets at the snapshot time of 2024-10-29 00:00 UTC.
The conversion will be completed and an equivalent amount of $USDC will be credited to users’ Binance wallets by… pic.twitter.com/SoieePoNpz
— ICO Drops (@ICODrops) October 8, 2024
Key Dates to Remember
- October 28, 2024: Last chance to withdraw these tokens. After this, no more withdrawals will be allowed.
- October 29, 2024: Binance will take a snapshot of users’ holdings and begin converting these tokens to USDC.
- April 28, 2025: The conversion to USDC will be complete, and USDC will be credited to users’ wallets.
What Happens During the Conversion?
Binance will calculate the average value of each token between October 29, 2024, and April 28, 2025. When the conversion is done, users will get an equivalent amount of USDC in their Binance wallets. During this period, users won’t be able to see or use the affected tokens.
Binance will send emails to everyone affected by October 15, 2024, explaining the next steps. When the conversion is complete, users will get another email with details about the exchange rates.
What Should You Do?
If you hold any of these tokens, you can still withdraw them until October 28th, 2024. After that, your only option will be to wait for the USDC conversion. Binance has already stopped accepting deposits for these tokens, so any new deposits won’t show up in your account.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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