Binance, one of the world’s largest cryptocurrency exchanges, has announced that it will convert a selection of delisted tokens into USDC for users holding these tokens in their Binance wallets. The conversion process will begin after a snapshot of users’ holdings at 00:00 UTC on October 29, 2024, and will be completed by April 28, 2025.
Impacted Tokens and Withdrawal Deadline
The affected tokens include:
- Vai (VAI)
- Tornado Cash (TORN)
- OMG Network (OMG)
- Waves (WAVES)
- NEM (XEM)
- BarnBridge (BOND)
- Dock (DOCK)
- Mdex (MDX)
- Polkastarter (POLS)
- Pundi X PURSE (PURSE)
Binance users who hold any of these tokens will have until October 28, 2024, 23:59 UTC to withdraw them. After this date, withdrawals will no longer be supported, and users will not be able to transfer the impacted tokens to external wallets.
Token Conversion to USDC
The conversion to USDC will be based on the average exchange rate for each token during the “Conversion Period,” which will run from October 29, 2024, 00:00 UTC to April 28, 2025, 23:59 UTC. Once the conversion is completed, users will receive an equivalent amount of USDC in their Binance wallets.
Binance will provide further information on the conversion rates and notify users via email when the process is finished. Users will receive an email notification by October 15, 2024, 23:59 UTC, alerting them to the next steps in this transition.
Important Notices
- Deposits of the affected tokens are no longer supported.
- Withdrawals will be allowed until October 28, 2024, 23:59 UTC, subject to network conditions.
- After the snapshot on October 29, 2024, users will not be able to view these tokens in their wallets until the conversion is complete.
Binance advises users to withdraw or monitor their holdings of these delisted tokens ahead of the October deadline to avoid any complications.
For more details and updates, Binance encourages users to refer to the original English version of the announcement, as discrepancies may arise in translated versions.
