Binance has announced support for the upcoming token swap and rebranding of Litentry (LIT) to Heima (HEI), with several key changes to tokenomics and trading processes.
Key Changes in Tokenomics
- The circulating supply of HEI will increase from 66 million to 100 million over 20 months.
- A risk warning banner and pop-up notification will be displayed on the Binance trading page to alert users of the changes.
Trading Timeline
- February 10, 2025 (03:00 UTC):
- Binance will remove all existing LIT spot trading pairs (LIT/BTC and LIT/USDT) and cancel all pending orders.
- Trading bots for these pairs will also be deactivated.
- February 13, 2025 (08:00 UTC):
- Binance will open trading for new HEI/BTC and HEI/USDT trading pairs.
Deposits and Withdrawals
- February 10, 2025 (03:30 UTC): Deposits and withdrawals of LIT tokens will be suspended. Users are advised to ensure their LIT deposits are processed in advance.
- February 13, 2025 (07:00 UTC): Deposits of HEI tokens will open.
- A separate announcement will notify users when HEI token withdrawals are available.
After the rebranding, Binance will no longer support deposits or withdrawals of LIT tokens.
Token Swap Details
- LIT tokens will be swapped to HEI at a 1:1 ratio.
- Binance will handle all technical requirements for the token swap, ensuring a seamless process for users.
Advice for Users
- Users employing trading bots or Spot Copy Trading are strongly encouraged to update or cancel their configurations before February 9, 2025 (03:00 UTC) to avoid potential losses.
- Outstanding assets from Spot Copy Trading will be moved to users’ Spot Accounts after this time.
For further details and updates, users are encouraged to monitor Binance’s official announcements.
