This is a general announcement. The products and services mentioned here may not be available in your region.
Dear members of the Binance community!
To protect users, Gifto (GFT) deposits were suspended on 11/29/2024. due to a potential security issue with the GFT smart contract. Binance may reopen deposits for GFT if it is safe to do so and no separate announcement will be published.
Binance has decided to remove and stop trading all spot trading pairs with Gifto (GFT) on 12/03/2024. at 10:00 (Kyiv time).
Please note:
This trading pair will be removed: GFT/USDT.
All trade orders will be automatically canceled after the end of trading in each relevant trading pair.
The token value will no longer appear in your wallet after deletion. To view your assets after trading has stopped, make sure you have not selected the "Hide Small Balances" feature in your wallets.
Withdrawal of GFT from Binance will not be supported after 02/02/2025, 10:00 (Kyiv time).
Deleted tokens can be converted into stablecoins on behalf of users after 02.02.2025, 10:00 (Kyiv time). Please note that conversion of deleted tokens to stablecoins is not guaranteed. A separate notification will be sent before the conversion, and stablecoins will be credited to Binance users' accounts after the conversion.
Binance Simple Earn will remove GFT on 12/03/2024. at 08:00 (Kyiv time). Users may redeem their Perpetual Product positions in advance, otherwise these positions will be automatically redeemed at the above time and subsequently transferred to users' spot wallets along with all accumulated rewards.
Binance Margin will remove GFT from cross margin and isolated margin on 12/02/2024. at 08:00 (Kyiv time). The GFT/USDT trading pair will be removed from cross margin and isolated margin. Starting from this moment, users will no longer be able to transfer amounts with the above token manually and in automatic transfer mode to their margin accounts. If users have outstanding liabilities for a specified token, they can manually transfer only the amount of liabilities for that token to their margin accounts, minus the already available collateral.
11/27/2024 at 08:00 (Kyiv time) Binance Margin suspended borrowing on isolated margin in the above isolated margin pair. 02.12.2024 at 08:00 (Kyiv time) Binance Margin will close user positions, perform automatic settlement and cancel all outstanding orders for the above isolated margin pair, which will subsequently be removed from the isolated margin.
11/27/2024 at 08:00 (Kyiv time) on the Binance Margin cross-margin, the borrowing of the above token was suspended. If users have both collateral and liabilities for the above token as of 12/02/2024, 08:00 (Kyiv time), the collateral will be used to repay the respective liabilities. If the user has security balances or obligations for the above-mentioned token, one of the following procedures will be implemented.
If the user holds the above token only in collateral form:
If the Collateral Margin Level (CML) exceeds 2, the above token will be transferred to the user's spot wallet so that the CML value is equal to 2. The remaining tokens to be deleted on the user's cross-margin accounts will be sold in full.
If the CML value is below 2, the remaining tokens to be deleted on the user's cross-margin accounts will be fully sold.
If the user holds the above token only as a commitment:
If the CML value is 2 or higher, outstanding orders will remain unchanged.
If the CML value is below 2, all outstanding orders on the user's cross-margin accounts will be canceled.
The system will then sell the user's other security tokens to purchase the token to be deleted and fully repay the corresponding obligations on that token.
Please note that users will not be able to update their positions during the removal process and are strongly advised to close their positions and/or transfer their assets from margin wallets to spot wallets before the termination of margin trading on 12/02/2024. at 08:00 (Kyiv time). Binance is not responsible for potential damages.
Margin portfolio users are advised to transfer the above token from their margin wallet to the spot wallet and replenish their margin balance, if necessary, by 12/02/2024, 08:00 (Kyiv time). Users should keep a close eye on the UniMMR (uniMMR) to avoid potential liquidation that may occur due to the removal of the above token from the margin wallet.
All GFT balances in cross-margin wallets on the margin portfolio account will be automatically converted to USDT from 12/02/2024, 08:00 (Kyiv time). The conversion may take approximately 24 hours or more. Binance Margin is not responsible for losses on new positions during this period that may occur due to the conversion of funds. See this guide for more information.
Binance Convert will eventually remove GFT and all related trading pairs on 12/02/2024. at 04:00 (Kyiv time).
GFT will be removed from small balance conversion on 12/01/2024. at 04:00 (Kyiv time). Users can convert small balances in advance.
Binance GFT will be removed from auto-invest after 12/01/2024. at 04:00 (Kyiv time). Users can delete plans in advance. Otherwise, the next iteration cycle for the above token will not occur.
Binance GFT and all related trading pairs will be removed from Binance cryptocurrency trading on 12/02/2024. at 05:00 (in Kyiv).
Binance Gift Card will remove GFT on 12/03/2024. at 10:00 (Kyiv time). Users are advised to take care of gift cards containing this token in advance to avoid inconvenience.
Binance Pay will remove GFT on 12/02/2024. at 08:00 (Kyiv time).
Binance will stop providing trading bot services for the above spot trading pair on 12/03/2024. at 10:00 a.m. (in Kyiv), subject to their availability. Users are strongly advised to upgrade and/or cancel their trading bots before the relevant services are discontinued to avoid potential losses.
Binance will remove the above spot trading pair from spot copy trading on 12/02/2024. at 10:00 (Kyiv time). After the specified time, assets with open positions will be transferred to the spot wallet. Users are strongly advised to update or cancel their spot copy trading portfolios by 12/02/2024 10:00 (Kyiv time) to avoid potential losses.
There may be differences between this original English content and the translated versions. See the original English version for the most accurate information in case of discrepancies.
We thank you for your support! In the meantime, we will continue to build the crypto ecosystem in a way that promotes transparency and long-term sustainability.
Thank you for your support!
Team Binance
29.11.2024