This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
To protect users, deposits for Gifto (GFT) were suspended on 2024-11-29 due to a potential security issue involving the GFT smart contract. Binance may reopen deposits for GFT if it is deemed to be safe, but no separate announcement will be issued.Ā
Binance has decided to delist and cease trading on all spot trading pairs for Gifto (GFT) at 2024-12-03 08:00 (UTC).
Please note:
The exact trading pair being removed is GFT/USDT.
All trade orders will be automatically removed after trading ceases in each respective trading pair.
The token's valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected āHide Small Balancesā in all of your wallets.
Withdrawals of GFT from Binance will not be supported after 2025-02-02 08:00 (UTC).
Delisted tokens may be converted into stablecoins on behalf of users after 2025-02-02 08:00 (UTC). Please note that the conversion of delisted tokens into stablecoins is not guaranteed. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to usersā Binance accounts after the conversion.Ā
Binance Simple Earn will delist GFT after 2024-12-03 06:00 (UTC). Users may choose to redeem their Flexible Products positions beforehand. Otherwise, these Flexible Products positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to usersā Spot Wallets, together with any accrued rewards.
Binance Margin will delist GFT from Cross and Isolated Margin at 2024-12-02 06:00 (UTC). The GFT/USDT cross and isolated margin pair(s) will be removed from Margin. Effective immediately, users will no longer be able to transfer any amount of the aforementioned token via manual transfers and Auto-Transfer Mode for Cross and Isolated Margin into their margin accounts. If users hold outstanding liabilities of said tokens, these users may only manually transfer up to the amount of liabilities of that token into their margin accounts, less any collateral already available.
At 2024-11-27 06:00 (UTC), Binance Margin suspended isolated margin borrowings on the aforementioned isolated margin pair(s). At 2024-12-02 06:00 (UTC), Binance Margin will close usersā positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair(s), which will then be removed from isolated margin.
At 2024-11-27 06:00 (UTC), Binance Margin suspended cross margin borrowings on the aforementioned token. At 2024-12-02 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token, the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token, one of two options below will occur:
If users only hold the aforementioned token in the form of collateral:Ā
If the Collateral Margin Level (CML) is above 2, the aforementioned token will be transferred to usersā Spot Wallets, up to the point when the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be delisted will then be fully sold.Ā
If the CML is below 2, the remaining tokens in usersā Cross Margin accounts that are to be delisted will be fully sold.Ā
If users only hold the aforementioned token in the form of liabilities:
If CML is at or above 2, pending orders will not be affected.Ā
If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled.Ā
The system will then sell other collateral tokens to buy and fully repay the delisting tokenās liabilities.
Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2024-12-02 06:00 (UTC). Binance will not be responsible for any potential losses.
Portfolio Margin users are advised to transfer the aforementioned token out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2024-12-02 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token from the Margin Wallet.Ā
All GFT balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-12-02 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information.
Binance Convert will subsequently delist GFT and all associated pairs at 2024-12-02 02:00 (UTC).
Convert Low-Value Assets will delist GFT at 2024-12-01 02:00 (UTC). Users may choose to convert the low-value assets beforehand.Ā
Binance Auto-Invest will delist GFT after 2024-12-01 02:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token will fail.
Binance Buy & Sell Crypto will delist GFT and all associated pairs at 2024-12-02 03:00 (UTC).
Binance Gift Card will delist GFT at 2024-12-03 08:00 (UTC) Users are encouraged to manage Gift Cards containing GFT in advance to avoid any inconveniences.
Binance Pay will delist GFT at 2024-12-02 06:00 (UTC).
Binance will terminate Trading Bots services for the aforementioned spot trading pair at 2024-12-03 08:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.
Binance Spot Copy Trading will delist the aforementioned spot trading pair on 2024-12-02 08:00 (UTC) - after this time, any outstanding assets will be moved to the Spot Wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2024-12-02 08:00 (UTC) to avoid potential losses.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
Thank you for your support!
Binance Team
2024-11-29
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. Trading Bots will consistently execute all orders as soon as the specified intervals are reached. Execution may even apply in situations of a rapid collapse or strong rise of a digital asset. Past performance is not a reliable indicator of future performance. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.