Binance to Support Viction (VIC) Network Upgrade and Hard Fork

Binance announces support for Viction (VIC) network upgrade and hard fork, temporarily suspending deposits and withdrawals starting October 29, 2024.

Binance to Close Deposits, Withdrawals of Viction (VIC) During Hard Fork

The cryptocurrency exchange Binance will halt deposits and withdrawals of Viction (VIC) tokens in preparation for a network upgrade and hard fork.

Binance announced the move in a recent blog post, stating that the upgrade will take place at block height 86,158,494, which is expected to occur on October 29, 2024, at 08:00 UTC.

During this time, Binance will close deposits and withdrawals of VIC tokens to ensure a smooth transition during the network upgrade. However, trading of VIC tokens will not be affected by the event.

Once the network upgrade is complete and the network's stability is confirmed, Binance will resume deposits and withdrawals of VIC tokens without further notice.

The network upgrade will also introduce changes to the tokenomics of Viction, including an increase in the total supply of VIC tokens from 100 million to 210 million, with an immediate addition of 20 million tokens to the circulating supply.

Users will encounter a risk warning banner and a pop-up notification before trading VIC tokens, which will alert them to these changes.

Binance has also directed users to further details available on social media platforms associated with Viction.

The technical requirements for the network upgrade will be handled internally by Binance, ensuring minimal disruption for users.