Binance Will Delist GFT, IRIS, KEY, OAX, REN on 2024-12-10
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics.
When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:
Commitment of team to projectLevel and quality of development activityTrading volume and liquidityStability and safety of network from attacksNetwork / smart contract stabilityLevel of public communicationResponsiveness to our periodic due diligence requestsEvidence of unethical/fraudulent conduct or negligenceNew regulatory requirementsContribution to a healthy and sustainable crypto ecosystem
Based on our most recent reviews, we have decided to delist and cease trading on all spot trading pairs for the following token(s) at 2024-12-10 03:00 (UTC):
Gifto (GFT)IRISnet (IRIS)SelfKey (KEY)OAX (OAX)Ren (REN)
Please note:
The exact trading pairs being removed are: GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, REN/USDTAll 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 “Hide Small Balances” in all of your wallets.Deposits of these token(s) after 2024-12-11 03:00 (UTC) will not be credited to your account. Withdrawals of these token(s) from Binance will not be supported after 2025-02-12 03:00 (UTC).
Delisted tokens MAY be converted into stablecoins on behalf of users after 2025-02-13 03:00 (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 users’ Binance accounts after the conversion.
Binance Simple Earn will delist the token(s) mentioned above after 2024-12-06 03:00 (UTC). Users may choose to redeem their Flexible and Locked Products positions beforehand. Otherwise, these Flexible and Locked Products positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to users’ Spot Wallets, together with any accrued rewards.At 2024-12-03 03:00 (UTC), KEY, REN of Binance Loans (Flexible Rates) and IRIS, KEY, REN of VIP Loan will close all outstanding loan positions for the aforementioned token(s) as loanable token(s) and collateral token(s). Users are strongly advised to repay their outstanding loans before 2024-12-03 03:00 (UTC) to avoid any potential losses, where applicable.Binance Futures will close all positions and conduct an automatic settlement on the KEYUSDT and RENUSDT USDⓈ-M Perpetual Contracts at 2024-12-03 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contracts starting from 2024-12-03 08:30 (UTC). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the KEYUSDT and RENUSDT USDⓈ-M Perpetual Contracts without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. At 2024-12-03 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the KEY/USDT and REN/USDT symbols. The pairs will no longer be available for opening new arbitrage strategies upon delisting.Binance Margin will delist GFT, IRIS, KEY, OAX, REN from Cross and Isolated Margin at 2024-12-04 06:00 (UTC). The GFT/USDT, IRIS/USDT, KEY/USDT, OAX/USDT, REN/BTC, REN/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(s) 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 will suspend isolated margin borrowings on the aforementioned isolated margin pair(s). At 2024-12-04 06:00 (UTC), Binance Margin will close users’ 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 will suspend cross margin borrowings on the aforementioned token(s). At 2024-12-04 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:If users only hold the aforementioned token(s) in the form of collateral: If the Collateral Margin Level (CML) is above 2, the aforementioned token(s) will be transferred to users’ 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. If the CML is below 2, the remaining tokens in users’ Cross Margin accounts that are to be delisted will be fully sold. If users only hold the aforementioned token(s) in the form of liabilities:If CML is at or above 2, pending orders will not be affected. If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled. The system will then sell other collateral tokens to buy and fully repay the delisting token(s)’ 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 2024-12-04 06:00 (UTC). Binance will not be responsible for any potential losses.Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2024-12-04 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(s) from the Margin Wallet. All GFT, IRIS, KEY, OAX, REN balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-12-04 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 maintain a Sell-only function for the aforementioned token(s) and all associated pairs from 2024-12-05 03:00 (UTC) to 2024-12-10 02:00 (UTC). Binance Convert will subsequently delist the aforementioned token(s) and all associated pairs at 2024-12-10 02:00 (UTC)Convert Low-Value Assets will delist the token(s) mentioned above at 2024-12-09 02:00 (UTC). Users may choose to convert the low-value assets beforehand. Binance Auto-Invest will delist the token(s) mentioned above after 2024-12-04 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.Binance Buy & Sell Crypto will delist the aforementioned token(s) and all associated pairs at 2024-12-03 03:00 (UTC).Binance Gift Card will delist the token(s) mentioned above at 2024-12-10 03:00 (UTC) Users are encouraged to manage Gift Cards containing these token(s) in advance to avoid any inconveniences.Binance Pay will delist the aforementioned token(s) at 2024-12-05 03:00 (UTC).Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-12-10 03:00 (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 pairs on 2024-12-09 03:00 (UTC) - after this time, any outstanding spot trading pairs will be moved to the spot wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2024-12-09 03:00 (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
2024-11-26
Note: This announcement was amended on 2024-11-26 to clarify that IRIS/BTC is no longer available on Binance and is not applicable in this announcement.
