This is a routine announcement and the products and services discussed may not be available in your area.
Dear User:
Binance will regularly review the digital assets listed to ensure a high level of currency quality. When a token no longer meets the listing standards or there are major changes in the industry environment, we will conduct an in-depth project review and may delist it. Binance has always attached great importance to user experience and constantly adapts to changes in the market environment, always making it a top priority to protect users to the greatest extent possible.
When reviewing a project, we will consider various factors and make a prudent decision to delist. The following are some of the factors we consider when delisting a token:
Team commitment to the project
Level and quality of project progress
Trading Volume and Liquidity
Network/smart contract stability
Community maintenance
Responding to Binance’s regular review of positivity
Unethical/fraudulent behavior
New regulatory requirements
Contribution to the construction of the entire blockchain ecosystem
Based on the above factors, we have decided to stop trading and delist the following currencies at 11:00 on August 26, 2024 (GMT+8):
PowerPool（CVP）
Ellipsis（EPX）
ForTube（FOR）
Loom Network （LOOM）
Reef（REEF）
VGX Token（VGX）
Notice:
Trading pairs to be removed: CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, VGX/USDT;
After trading is stopped, all pending orders will be automatically cancelled;
After trading is stopped, the delisted currencies in your wallet will not display valuations. Please do not check [Hide Small Assets] to view the balances of the above currencies;
After 11:00 AM (ET) on August 27, 2024, deposits of the above tokens will not be credited to Binance Wallet;
The withdrawal service of the above tokens will be stopped at 11:00 on November 26, 2024 (GMT+8);
The platform may allow users to exchange delisted tokens for stablecoins at 11:00 (ET) on November 27, 2024. Please note: the exchange rate for delisted tokens to stablecoins cannot be guaranteed. A separate notice will be given before the exchange is opened (if applicable), and the stablecoins will be credited to the user's Binance account after the exchange;
Binance will delist the above-mentioned currencies at 11:00 (ET) on August 22, 2024. Users can choose to redeem the above-mentioned currencies from the current and fixed-term products of Binance. Otherwise, these current positions, fixed-term positions and accumulated rewards (if any) will also be automatically redeemed at the above time and then transferred to the user's spot wallet;
Binance's fixed investment plan will remove the above-mentioned currencies at 11:00 (ET on August 20, 2024). Users can choose to exit the plan in advance. Otherwise, the next purchase cycle of the corresponding currency will not be executed;
Binance pledged loans (current and fixed rates) and VIP loans will remove EPX, LOOM, and REEF from the loanable and collateralized currencies starting at 11:00 (ET) on August 20, 2024, and automatically close and liquidate outstanding orders of the above currencies as loan or collateral currencies. Users are strongly recommended to repay the loans before 11:00 (ET) on August 20, 2024 to avoid potential losses;
Please refer to Binance Staking (current and fixed rates) and Binance VIP Loan FAQs for more information. For more details, please refer to Binance Staking and VIP Loan Terms and Conditions;
Starting from 14:00 (ET) on August 19, 2024, the Binance Funding Rate Arbitrage Robot will close all arbitrage strategies for LOOM/USDT and REEF/USDT trading pairs and perform automatic settlement. These trading pairs will no longer be available for opening new arbitrage strategies after delisting;
Coinsafe and isolated leverage will remove CVP, EPX, FOR, LOOM, and REEF at 14:00 (ET) on August 20, 2024. CVP/USDT, EPX/USDT, FOR/USDT, LOOM/BTC, LOOM/USDT, and REEF/USDT full-position and isolated leverage trading pairs will be removed from the leverage platform;
Binance Margin Trading Platform will suspend isolated margin lending for the above-mentioned pairs at 14:00 (ET) on August 14, 2024. Binance Margin will automatically close and liquidate isolated margin positions for the above-mentioned pairs at 14:00 (ET) on August 20, 2024, and cancel all pending orders of users for the above-mentioned trading pairs. After that, the above-mentioned trading pairs will be removed from the isolated margin platform;
Binance Margin Trading will suspend the full margin lending business of the above-mentioned tokens at 14:00 on August 14, 2024 (GMT+8). If the user holds CVP, EPX, FOR, LOOM, REEF liabilities and/or assets in the full margin account, Binance Margin Trading will cancel all pending orders under the full margin at 14:00 on August 20, 2024 (GMT+8), automatically close and liquidate the CVP, EPX, FOR, LOOM, REEF positions of the full margin, and transfer the remaining CVP, EPX, FOR, LOOM, REEF assets to the spot wallet. After that, the above-mentioned trading pairs will be removed from the full margin platform;
During the delisting process, users will not be able to update their positions. It is strongly recommended that users close their positions and/or transfer assets from their margin wallets to their spot wallets before the above trading pairs are delisted, i.e. before 14:00 (ET) on August 20, 2024. Binance will not be responsible for any potential losses.
It is recommended that users of Binance unified accounts transfer the above tokens from their margin accounts to their spot accounts and replenish their margin balances (if applicable) before 14:00 (ET) on August 20, 2024. Users should closely monitor the maintenance margin ratio (Uni-MMR) of their unified accounts to avoid any potential liquidations that may result from the removal of the above trading pairs from their margin wallets;
Starting from 14:00 (GMT+8) on August 20, 2024, users who enable the unified account mode will have their CVP, EPX, FOR, LOOM, and REEF balances in their full-margin leverage wallets automatically converted to USDT. The conversion process will take about 24 hours or longer. Binance will not be responsible for any losses that may occur from new positions created during the asset conversion process. For more information, please refer to the FAQ;
The above tokens will be available for sale only on Binance Flash Exchange from 11:00 (ET) on August 21, 2024 to 10:00 (ET) on August 26, 2024. Binance Flash Exchange will delist the above tokens and all related trading pairs at 10:00 (ET) on August 26, 2024.
Binance One-Click Buy & Sell will remove the above tokens and all related trading pairs at 11:00 AM (ET) on August 21, 2024.
Binance Gift Cards will delist the above-mentioned currencies at 11:00 (ET) on August 26, 2024. Users are advised to manage the gift cards of the above-mentioned tokens in advance to avoid any inconvenience;
Binance Payment will delist the above-mentioned currencies at 11:00 on August 21, 2024 (GMT+8);
Binance will terminate the trading robot service for the above spot trading pairs at 11:00 (ET) on August 26, 2024, where applicable. Users are strongly recommended to update and/or cancel the trading robot before the above trading robot service is terminated to avoid any potential losses;
Please note that LOOMUSDT and REEFUSDT U-margined perpetual contracts trading is not affected and users can continue to trade;
There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.
Thank you for your continued support and love for Binance. We will continue to build the blockchain ecosystem in an open, transparent, and sustainable manner.
Thank you for your support!
Binance Team
August 12, 2024
Note: This announcement was updated on August 12, 2024 with the correct date: Binance will delist CVP, EPX, FOR, LOOM, REEF, VGX (2024-08-26).