Binance Announces Delisting and Conversion of Select Tokens to USDT

Binance will convert delisted tokens to USDT based on user holdings in their Binance wallets, with the snapshot occurring at 7am April 21, 2024 (UTC). Converted USDT will be credited to user wallets by 6:59am October 21, 2024 (UTC). Eligible tokens include: Moeda Loyalty Points (MDA), Helium (HNT), Mithril (MITH), DFI.Money (YFII), Mirror Protocol (MIR), Venus Reward Token (VRT), TokenClub (TCT), Augur (REP), EasyFi (EZ), Swerve (SWRV), Boba Network (BOBA), Serum (SRM), Raiden Network Token (RDN), Cobak Token (CBK), and OnX Finance (ONX).

Binance Announces Delisting and Conversion of Select Tokens to USDT

In a major move, leading cryptocurrency exchange Binance has announced plans to delist and convert a number of tokens to USDT, pegged to the US dollar. The decision, effective from 7:00 AM (UTC) on April 21, 2024, aims to enhance user experience and simplify token management on the platform.

The delisting and conversion will impact the following tokens:

• Moeda Loyalty Points (MDA)
• Helium (HNT)
• Mithril (MITH)
• DFI.Money (YFII)
• Mirror Protocol (MIR)
• Venus Reward Token (VRT)
• TokenClub (TCT)
• Augur (REP)
• EasyFi (EZ)
• Swerve (SWRV)
• Boba Network (BOBA)
• Serum (SRM)
• Raiden Network Token (RDN)
• Cobak Token (CBK)
• OnX Finance (ONX)

The conversion process will commence immediately after the delisting and will conclude by 06:59 AM (UTC) on October 21, 2024. During this period, the affected tokens will not be visible in Binance wallets.

The conversion rate will be determined based on the average market exchange rate between the tokens and USDT over the period from 07:00 AM (UTC) on April 21, 2024, to 06:59 AM (UTC) on October 21, 2024. Binance will notify users and send an email update upon completion of the conversion.

To facilitate a smooth transition, Binance has implemented the following measures:

• Notification: All users holding any of the affected tokens will receive an email notification by 06:59 AM (UTC) on April 9, 2024.
• No Deposits Accepted: Deposits of the affected tokens will no longer be supported and will not be credited to user accounts.
• Withdrawal Support: Binance will continue to support withdrawals of the affected tokens until 06:59 AM (UTC) on April 21, 2024.

After the withdrawal support deadline, Binance will cease to support the affected tokens, and users will no longer be able to transfer any remaining tokens out of their Binance accounts to external wallets.

The decision to delist and convert these tokens is part of Binance's ongoing commitment to providing a secure and efficient trading environment for its users. The exchange regularly reviews its token listings to ensure they meet stringent criteria and standards.

Binance emphasizes that this move is not a reflection on the value or utility of the affected tokens but rather a strategic decision to streamline the platform and enhance user experience. The exchange encourages users to consider alternative trading options for these tokens on other platforms.