Binance Announces Delisting of Multiple Tokens in July

Binance has announced the delisting of multiple tokens this July. Users need to stay updated to avoid losses during trading.

Azcnews Binance Announces Delisting Of Multiple Tokens In July

Binance regularly reviews each listed digital asset to ensure it continues to meet their high standards and industry requirements. When a coin or token no longer meets these standards or when industry conditions change, Binance conducts a thorough evaluation and may decide to delist the asset. Binance prioritizes providing the best services and protections for its users while adapting to the evolving market dynamics.

During these evaluations, Binance considers various factors, including:

  • The team’s commitment to the project
  • The level and quality of development activity
  • Trading volume and liquidity
  • The network’s stability and security against attacks
  • The stability of the network or smart contract
  • The level of public communication
  • The ability to meet our periodic due diligence requirements
  • Evidence of unethical or fraudulent conduct, or negligence
  • New regulatory requirements
  • Contribution to a healthy and sustainable cryptocurrency ecosystem
Binance Delisting
Binance Delisting

Based on recent evaluations, Binance has decided to delist and cease trading for all spot trading pairs of the following tokens at 03:00 UTC on July 22, 2024:

  • BarnBridge (BOND)
  • Dock (DOCK)
  • MDX (MDX)
  • Polkastarter (POLS)

Please note:

  • The specific trading pairs being removed are: BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT.
  • All trading orders will be automatically removed after trading ceases for each respective trading pair.
  • The value of the tokens will no longer be displayed in your wallet after delisting. To view your assets after trading stops, please ensure you have not selected “Hide small balances” in all your wallets.
  • Deposits of these tokens after 03:00 UTC on July 23, 2024, will not be credited to your account.
  • Withdrawals of these tokens from Binance will not be supported after 03:00 UTC on October 22, 2024.
  • The delisted tokens MAY be converted to stablecoins on behalf of users after 03:00 UTC on October 23, 2024. Please note that the conversion of delisted tokens to stablecoins is NOT guaranteed. A separate announcement will be made prior to any conversion, and the stablecoins will be credited to users’ Binance accounts following the conversion.
  • Binance Simple Earn will delist the aforementioned tokens after 03:00 UTC on July 19, 2024. Users can choose to redeem their Flexible Products positions before this time. If not, these positions will be automatically redeemed at the specified time and transferred to the users’ Spot Wallets along with any accrued rewards from 03:00 UTC on July 19, 2024.
  • Binance Auto-Invest will delist the aforementioned tokens after 03:00 UTC on July 15, 2024. Users can choose to cancel their plans beforehand. If not, the next recurring cycle for the mentioned tokens will fail.
  • At 03:00 UTC on July 17, 2024, VIP Loan will close all outstanding loan positions for the mentioned tokens as loanable tokens and collateral tokens. Users are advised to repay all outstanding loans before 03:00 UTC on July 17, 2024, to avoid any potential losses.
  • At 06:00 UTC on July 16, 2024, the Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and perform automatic settlements for the BOND/USDT pair. This pair will no longer be available for new arbitrage strategies after delisting.
  • Binance Margin will delist the cross and isolated margin pairs for BOND, DOCK, MDX, and POLS at 06:00 UTC on July 17, 2024. At 06:00 UTC on July 12, 2024, Binance Margin will suspend isolated margin borrowing for the mentioned pairs. At 06:00 UTC on July 17, 2024, Binance Margin will close user positions, perform automatic settlements, and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Margin. Users will not be able to update their positions during the delisting process and are advised to close their positions and/or transfer their assets from the Margin Wallet to the Spot Wallet before margin trading ceases at 06:00 UTC on July 17, 2024. Binance will not be responsible for any potential losses.
  • Portfolio Margin users are advised to transfer the mentioned tokens from their Margin Wallet to their Spot Wallet and top up their margin balance before 06:00 UTC on July 17, 2024, if applicable. Users should closely monitor their Unified Maintenance Margin Ratio (Uni-MMR) to avoid any potential liquidation that might occur due to the removal of the mentioned tokens from the Margin Wallet.
  • All BOND, DOCK, MDX, and POLS balances in the Cross Margin Wallets of Portfolio Margin accounts will be automatically converted to USDT starting from 06:00 UTC on July 17, 2024. The conversion process may take approximately 24 hours or longer. Binance Margin will not be responsible for any losses on new positions that may arise during this period due to the conversion. Refer to this FAQ for more information.
  • Binance Convert will maintain the Sell-Only function for the mentioned tokens and all related pairs from 03:00 UTC on July 18, 2024, to 02:00 UTC on July 22, 2024. Afterward, Binance Convert will delist the mentioned tokens and all related pairs at 02:00 UTC on July 22, 2024.
  • Binance Buy & Sell Crypto will delist the mentioned tokens and all related pairs at 03:00 UTC on July 18, 2024.
  • Binance Gift Card will delist the mentioned tokens at 03:00 UTC on July 22, 2024. Users are encouraged to manage Gift Cards containing these tokens beforehand to avoid any inconvenience.
  • Binance Pay will delist the mentioned tokens at 03:00 UTC on July 18, 2024.
  • Binance will terminate the Trading Bots service for the mentioned spot trading pairs at 03:00 UTC on July 22, 2024, if applicable. Users are advised to update and/or cancel their Trading Bots before the service stops to avoid any potential losses.
  • Please note that USDⓈ-M BONDUSDT perpetual futures trading is not affected, and users can continue trading.

0.0/5

Love

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Azcnews Elon Musk Joe Biden

News | Editor Choice | Policy & Regulations

Elon Musk Ends X Feature Amid Trump vs. Biden Saga

Elon Musk has recently stated that he asked to end a special feature on his social media platform X amid the ongoing Trump vs. Biden chronicles in the U.S. elections.

Binance Announces Listing Of Banana Gun (banana)

News | Altcoin | Editor Choice

Binance Announces Listing of Banana Gun (BANANA)

The Binance exchange has announced the listing of Banana Gun (BANANA), and this is also the first project on the Binance Airdrops Portal!

Azcnews Whales Accumulate Dogecoin Amid Price Recovery

News | Altcoin | Editor Choice

Whales Accumulate Dogecoin Amid Price Recovery

Recently, Dogecoin investors have accumulated over 60 million tokens. Some analysts believe the current price drop is only temporary.

Pixelverse Officially Announces Pixfi Token Airdrop

Editor Choice | Altcoin | News

Pixelverse Officially Announces PIXFI Token Airdrop

The renowned game Pixelverse, which has attracted close to 80 million users, has finally announced an airdrop for the community through PixelTap and the Dashboard.

Azcnews Bitcoin Drops To $64,000 Amid Us Stock Market Plunge

News | Bitcoin | Editor Choice

Bitcoin Drops to $64,000 Amid U.S. Stock Market Plunge

Bitcoin has corrected back below $64,000 as the U.S. stock market experiences a sharp decline.