Binance has announced the successful completion of the token swap and redenomination of Merit Circle (MC) to Beam (BEAMX). Following this overhaul, deposits and withdrawals for Beam (BEAMX) have been activated on the platform.
Under the new arrangements, the ticker, BEAMX, will represent Beam on Binance, which may differ from its on-chain display. The rebranded Beam (BEAMX) was distributed in a 1:100 ratio, meaning for each MC token held, holders received 100 BEAMX tokens.
Importantly, it should be noted that the new Beam (BEAMX) tokens come with separate BEP20 and ERC20 smart contract addresses. Binance users can find their assigned BEAMX deposit addresses within their respective Binance accounts.
In the aftermath of this transition, Binance has discontinued support for deposits and withdrawals of the initial MC tokens. This development serves as a reminder for traders to stay updated with developments within their selected investment tokens.