This is a routine announcement; the products and services involved may not be applicable in your region.
Dear users:
Binance will regularly review the digital assets listed to ensure a high standard of token quality. When a token no longer meets the listing standards or there are significant changes in the industry environment, we will conduct an in-depth project review and may delist it. Binance has always valued user experience and continuously adapts to changes in the market environment, prioritizing the protection of users to the greatest extent.
During the project review, we will comprehensively consider various factors and prudently make delisting decisions. The following are some factors considered when delisting tokens:
The team's commitment to the project
Standards and quality during project advancement
Trading volume and liquidity
Stability and security of the network to prevent attacks
Stability of the network/smart contracts
Community maintenance
Proactivity in responding to Binance's regular reviews
Unethical/Fraudulent behavior
New regulatory requirements
Contribution to the overall blockchain ecosystem construction
Based on the above factors, we have decided to stop trading and delist the following currencies at 11:00 AM (UTC+8) on December 10, 2024:
Gifto (GFT)
IRISnet (IRIS)
SelfKey (KEY)
OAX (OAX)
Ren (REN)
Notice:
Trading pairs to be removed: GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, REN/USDT;
After trading stops, all open orders will be automatically canceled;
After trading stops, the delisted tokens in your wallet will not show valuation. Please do not check [Hide small assets] to view the balance of the above tokens;
After 11:00 AM (UTC+8) on December 11, 2024, deposits of the above tokens will no longer be credited to the Binance wallet;
The withdrawal service for the above tokens will stop at 11:00 AM (UTC+8) on February 12, 2025;
The platform may remove the tokens from being exchanged for stablecoins on behalf of users after 11:00 AM (UTC+8) on February 13, 2025. Please note: The exchange rate for the delisted tokens to stablecoins cannot be guaranteed. Notifications will be sent prior to the exchange opening (if applicable), and stablecoins will be credited to users' Binance accounts after the exchange;
Binance's principal guarantee earning will delist the above currencies at 11:00 AM (UTC+8) on December 6, 2024. Users can choose to redeem the above tokens in advance from the earning flexible and fixed products. Otherwise, these flexible holdings, fixed holdings, and accumulated rewards (if any) will also be automatically redeemed at the above time and subsequently transferred to the user's spot wallet;
Binance's staking borrowing (flexible interest rate) and VIP borrowing will remove IRIS, KEY, and REN from the list of borrowable and collateral currencies starting at 11:00 AM (UTC+8) on December 3, 2024, and automatically close and liquidate outstanding orders of the above currencies as borrowing or collateral currencies. Users are strongly advised to repay borrowing before 11:00 AM (UTC+8) on December 3, 2024, to avoid potential losses;
Binance contracts will automatically liquidate KEYUSDT and RENUSDT perpetual contracts at 5:00 PM (UTC+8) on December 3, 2024, and will delist KEYUSDT and RENUSDT perpetual contract trading pairs after the liquidation ends. Starting from 4:30 PM (UTC+8) on December 3, 2024, users will not be able to open new positions in the above perpetual contracts. To protect user rights and reduce potential risks in extreme market conditions, Binance contracts may take additional protective measures for KEYUSDT and RENUSDT perpetual contracts without further announcements. Potential protective measures include but are not limited to adjusting leverage and margin (including the maximum leverage multiple for each level, position limits, maintenance margin rate), adjusting funding rates (including base interest rates, premium indexes, and rate caps), changing price index components, or adopting the latest transaction price protection mechanism to update the mark price;
Starting from 5:00 PM (UTC+8) on December 3, 2024, Binance's funding rate arbitrage robot will close all arbitrage strategies for the KEYUSDT and RENUSDT trading pairs and will conduct automatic settlements. These trading pairs will no longer be available for opening new arbitrage strategies after delisting;
Binance's cross-margin and isolated-margin leverage will remove GFT, IRIS, KEY, OAX, and REN at 2:00 PM (UTC+8) on December 4, 2024. The GFT/USDT, IRIS/USDT, KEY/USDT, OAX/USDT, REN/BTC, and REN/USDT cross-margin and isolated-margin trading pairs will be delisted from the margin platform. From now on, users will not be able to transfer the above tokens into cross-margin and isolated-margin accounts through manual transfer and automatic transfer modes. If a user has outstanding debts for the mentioned tokens, they can only manually transfer the corresponding debt amount and deduct it from the existing collateral assets in their account;
The Binance margin trading platform will suspend the isolated-margin borrowing service for the above currency pairs at 2:00 PM (UTC+8) on November 27, 2024. Binance margin will automatically close and liquidate the isolated-margin positions for the above currency pairs at 2:00 PM (UTC+8) on December 4, 2024, and will cancel all orders placed by users in the above trading pairs. After that, the above trading pairs will be delisted from the isolated-margin platform;
The Binance margin trading platform will suspend the cross-margin borrowing service for the above tokens at 2:00 PM (UTC+8) on November 27, 2024. If a user has debts and/or collateral assets for the above tokens in their cross-margin account, the collateral assets will be used to repay the corresponding debts at 2:00 PM (UTC+8) on December 4, 2024. If there are any remaining collateral assets or debts for the above tokens, the following two options will occur:
If the user only holds the above tokens as collateral assets without debts:
If the collateral risk ratio (CML) is greater than 2, the above tokens will be transferred to the user's spot wallet until the collateral risk ratio reaches 2. Thereafter, the remaining portion of the above tokens in the cross-margin account will be sold entirely;
If the collateral risk ratio (CML) is less than 2, the remaining portion of the above tokens in the cross-margin account will be sold entirely.
If the user only holds debts for the above tokens without collateral assets:
If the collateral risk ratio (CML) is greater than 2, all orders will not be affected;
If the collateral risk ratio (CML) is less than 2, all orders under the cross-margin will be canceled;
The system will sell other collateral assets in the user's account and buy and fully repay the debts of the delisted tokens.
During the delisting process, users will not be able to update positions, and it is strongly advised that users close positions and/or transfer assets from the margin wallet to the spot wallet before the above trading pairs stop margin trading at 2:00 PM (UTC+8) on December 4, 2024. Binance will not be responsible for any potential losses;
It is recommended that users with unified accounts on Binance transfer the above tokens from the margin accounts to the spot accounts and supplement the margin balance (if applicable) before 2:00 PM (UTC+8) on December 4, 2024. Users should closely monitor the maintenance margin rate (uniMMR) for the unified account to avoid any potential liquidation that may result from the removal of the above trading pairs from the margin wallet;
Starting from 2:00 PM (UTC+8) on December 4, 2024, for users who have enabled the unified account model, the balances of GFT, IRIS, KEY, OAX, and REN in the cross-margin wallet will be automatically converted to USDT. This conversion process will take approximately 24 hours or longer. Binance will not be responsible for any losses that may arise from new positions established during the asset conversion process. For more information, please refer to the FAQ;
From 11:00 AM (UTC+8) on December 5, 2024, to 10:00 AM (UTC+8) on December 10, 2024, the above tokens on the Binance flash exchange trading platform will only be available for sale mode. The Binance flash exchange trading platform will delist the above tokens and all related trading pairs at 10:00 AM (UTC+8) on December 10, 2024.
Small asset exchange for BNB will be delisted at 10:00 AM (UTC+8) on December 9, 2024. Users can choose to exchange small assets in advance.
The Binance investment plan will delist the above currencies at 11:00 AM (UTC+8) on December 4, 2024. Users can choose to delete the plan in advance. Otherwise, the next purchase cycle for the corresponding currency will not be executed.
The Binance one-click buy & sell trading platform will remove the above tokens and all related trading pairs at 11:00 AM (UTC+8) on December 3, 2024.
Binance gift cards will delist the above currencies at 11:00 AM (UTC+8) on December 10, 2024. Users are advised to manage the gift cards of the above tokens in advance to avoid any inconvenience;
Binance Pay will delist the above currencies at 11:00 AM (UTC+8) on December 5, 2024;
Binance will terminate the trading robot services for the above spot trading pairs on December 10, 2024, at 11:00 AM (UTC+8), where applicable. Users are strongly advised to update and/or cancel trading robots before the cessation of the above trading robot services to avoid any potential losses;
Binance spot copy trading will delist the above spot trading pairs at 11:00 AM (UTC+8) on December 9, 2024. After that, any outstanding spot trading pairs will be transferred to the spot account. Users are strongly advised to update or cancel their spot copy trading portfolio before 11:00 AM (UTC+8) on December 9, 2024, to avoid potential losses;
There may be differences between the English original announcement and the translated version. In case of any discrepancies, please refer to the English original for the latest or most accurate information.
Thank you for your long-standing support and love for Binance. We will continue to build a blockchain ecosystem in an open, transparent, and sustainable growth manner.
Thank you for your support of Binance!
The Binance team
November 26, 2024
Note: This announcement was updated on November 26, 2024, to clarify that Binance spot does not support the IRIS/BTC trading pair and is not applicable to this announcement.
