Binance Suspends AEUR Trading Pairs to Safeguard Users

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Binance Suspends AEUR Trading Pairs on December 6

Due to the enthusiastic reception of AEUR within the community, including users who may not have recognized its stablecoin status, demand for AEUR surged, resulting in price discrepancies.

Binance, with its 24/7 market monitoring, promptly suspended trading for AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR pairs at 2023-12-05 18:31:59 (UTC) when price deviations occurred to safeguard its users.

A separate announcement will follow when trading resumes for the mentioned AEUR pairs. Prioritizing user well-being, Binance will facilitate and implement a compensation plan from the AEUR project team for affected users within 72 hours of this notice.

Compensation Eligibility Criteria

Users who purchased AEUR through AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR trading pairs between 2023-12-05 17:41:16 (UTC) and 2023-12-05 18:31:59 (UTC) (hereinafter referred to as the “Compensation Period”) and did not successfully sell the acquired AEUR on Binance Spot before 2023-12-05 18:31:59 (UTC) will qualify for compensation.

The net amount of AEUR purchased by users during the Compensation Period will be factored into their corresponding compensation calculations. The calculation will be based on the AEUR price on Binance Spot at 2023-12-05 17:41 (UTC), equivalent to 1.07999 USDT per AEUR.

Calculation of Compensation

Compensation for each eligible user = (Net amount spent on AEUR by the user * user’s average purchase price of AEUR) – (Net amount spent on AEUR by the user * 1.07999 USDT)

Net amount spent on AEUR = Total quantity of AEUR purchased on Binance Spot during the Compensation Period – Total quantity of AEUR sold on Binance Spot during the Compensation Period

Average purchase price of AEUR = Total equivalent USDT spent on purchasing AEUR on Binance Spot during the Compensation Period / Total amount of AEUR purchased on Binance Spot during the Compensation Period.

Example

During the Compensation Period, User A purchased 100 AEUR using the BTC/AEUR trading pair when the BTC price reached 26,000 AEUR and sold 10 AEUR using the same trading pair when the BTC price reached 30,000 AEUR. At the time of User A’s AEUR purchase, the BTC price was equivalent to 43,600 USDT.

Therefore

Net amount spent on AEUR by User A = (100 – 10) AEUR = 90 AEUR

Average purchase price of AEUR by User A = [(100 AEUR / 26,000 AEUR) * 43,600 USDT] / 100 AEUR = 1.6769 USDT

Total compensation User A will receive = (90 * 1.6769 USDT) – (90 * 1.07999 USDT) = 53.7219 USDT

Distribution of Compensation

Qualified users will receive their compensation in the form of USDT bonus vouchers before 09-12-2023. Users can log in and redeem their bonus voucher through the Binance Rewards Center.

All distributed bonus vouchers will expire within 30 days from the distribution date. Eligible users are encouraged to claim their rewards before the expiration date and provide any necessary documentation if requested.

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