Binance to Delist IDRT, KP3R, OOKI, UNFI Tokens on 11/06/2024
2024-10-23 10:00
This is a general announcement. The products and services described here may not be available in your area.
Dear Binance Community Members,
Binance periodically reviews all digital assets listed on the exchange to ensure they continue to meet our high standards and the needs of the industry. If a coin or token no longer meets our standards, or the industry environment has changed, we conduct a comprehensive review and may decide to delist the asset. Our priorities are to provide the best service and user protection, while constantly adapting to changing market dynamics.
During such studies, we take into account a number of factors. Here are some of the indicators on the basis of which we decide on the future fate of the asset:
Team commitment to the project.
Level and quality of development.
Trading volume and liquidity.
Network stability and security in case of attacks.
Network and smart contract stability.
Level of communication with the community.
Responses to our inquiries for verification purposes.
Evidence of unethical/illegal behavior or negligence.
New regulatory requirements.
Contribution to the health and sustainability of the cryptocurrency ecosystem.
Based on the results of our recent analysis, we have decided to stop trading in all spot pairs with the following tokens and delist them on 2024-11-06 06:00 (UTC+3):
Notes
We will remove the following trading pairs: KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, USDT/IDRT
All trading orders will be automatically deleted after trading on each of the specified trading pairs stops.
After delisting, the token value will no longer be displayed in your wallet. To view your assets after trading has stopped, make sure you have not selected the "Hide low value assets" option in all wallets.
You will not be able to transfer these tokens to your account balance after 07.11.2024 05:00 (UTC+3).
Withdrawal of these tokens from Binance will not be supported after 2025-02-06 05:00 (UTC+3).
Remote tokens MAY be converted to stablecoins on behalf of users after 2025-02-07 05:00 (UTC+3). Please note that the conversion of remote tokens to stablecoins is NOT guaranteed. We will send a separate notification before the conversion (if any), then the stablecoins will be credited to users' Binance accounts after the conversion.
Binance Simple Earn will remove the specified tokens after 2024-11-04 05:00 (UTC+3). Users can withdraw funds from the flexible products in advance. Otherwise, we will automatically close the positions of the specified flexible products at the above time and transfer the assets to users' spot wallets along with the accrued rewards.
On 2024-10-31 05:00 (UTC+3), VIP Loans will close all outstanding positions with KP3R, OOKI and UNFI tokens used for both loans and collateral. We strongly recommend users to repay outstanding loans before 2024-10-31 05:00 (UTC+3) to avoid possible losses, if applicable.
Binance Futures will close all positions and conduct automatic settlement of USDⓈ-M UNFIUSDT perpetual contracts at 2024-10-30 11:00 (UTC+3). The contracts will be deleted after settlement. To avoid automatic settlement, it is recommended to close all open positions before delisting. Users cannot open new positions for these contracts from 2024-10-30 10:30 (UTC+3). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may take additional protective measures on USDⓈ-M UNFIUSDT perpetual contracts without further notice, including but not limited to adjusting the maximum leverage, position value, and maintenance margin at each margin level, changing funding rates such as interest rate, premium, and maximum funding rate, changing the components of the price index, and using the last price protection mechanism to update the mark price.
On 2024-10-30 10:00 (UTC+3), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and perform automatic settlement for the UNFI/USDT trading pair. After delisting, you will not be able to open new arbitrage strategies for this pair.
Binance Margin will remove KP3R, OOKI, UNFI cross and isolated margin trading on 2024-10-31 08:00 (UTC+3). KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/USDT cross and isolated margin trading pairs will be removed from Binance Margin.
On 2024-10-25 09:00 (UTC+3), Binance Margin will suspend isolated margin borrowing in the specified pairs. On 2024-10-31 08:00 (UTC+3), Binance Margin will close user positions, automatically settle, and cancel all pending orders in the specified isolated margin pairs. They will then be removed from the service.
On 2024-10-25 09:00 (UTC+3), Binance Margin will suspend cross-margin loans of the above tokens. If users have collateral and loans with the above tokens on 2024-10-31 08:00 (UTC+3), the collateral will be used to repay the corresponding loans. For the remaining collateral or loans of the above tokens, if any, one of the two conditions below will apply.
If users retain the specified tokens as collateral:
If the Collateral Margin Level (CML) is higher than 2, the specified tokens will be transferred to users' spot wallets in such quantity that the margin level reaches 2. After that, the remaining tokens on the cross-margin account will be completely sold out.
If CML is below 2, the remaining tokens on the cross-margin account subject to delisting will be completely sold off.
If users retain the specified tokens as liabilities:
If the CML level is equal to or higher than 2, pending orders will not be affected.
If CML is below 2, all pending orders on cross margin accounts will be cancelled.
The system will then sell other collateral tokens to purchase and fully pay off the obligations on the tokens subject to delisting.
Please note that users will not be able to change positions during the delisting. We strongly recommend that you close positions and/or transfer assets from your margin wallet to your spot wallet before margin trading stops at 2024-10-31 08:00 (UTC+3). Binance will not be held liable for any losses that may occur.
Margin portfolio users are advised to transfer the said tokens from the margin wallet to the spot wallet and top up the margin balance if necessary by 2024-10-31 08:00 (UTC+3). Users should closely monitor the unified maintenance margin ratio (uniMMR) to avoid liquidation that may occur as a result of removing the above tokens from the margin wallet.
All KP3R, OOKI, UNFI balances in portfolio margin accounts’ cross margin wallets will be automatically converted to USDT from 2024-10-31 08:00 (UTC+3). The conversion may take up to 24 hours. During this period, Binance Margin will not be responsible for any losses on new positions that may occur due to the conversion of funds. For more information, please refer to the FAQ.
Binance Convert will only support the sell function for the specified tokens and all related pairs from 2024-11-01 05:00 (UTC+3) to 2024-11-06 04:00 (UTC+3). Binance Convert will then delete the specified tokens and all related pairs on 2024-11-06 04:00 (UTC+3).
The conversion of low-value assets will not be available for the above tokens from 2024-11-05 04:00 (UTC+3). Therefore, users are advised to convert such assets in advance.
Binance Auto Invest will delete the specified tokens after 2024-10-31 05:00 (UTC+3). Users can delete plans in advance. Otherwise, the next token purchase cycle will not take place.
Binance will remove the specified tokens and their related pairs from the Buy or Sell Crypto section on 2024-11-01 05:00 (UTC+3).
Binance Gift Card Service will remove the above tokens at 2024-11-06 05:00 (UTC+3). We recommend using gift cards with the above assets in advance to avoid any inconvenience.
Binance Pay will delist the above tokens on 2024-11-01 05:00 (UTC+3).
Binance will suspend the trading bot service for the specified spot pairs on 2024-11-06 05:00 (UTC+3) if any. We strongly recommend users to change the settings of their trading bots and/or stop them before the service is suspended to avoid potential losses.
Binance Spot Copy Trading Service will delete the specified spot trading pairs at 2024-11-05 05:00 (UTC+3). After that, any remaining trading pairs will be moved to spot wallets. Users are strongly advised to modify or delete their spot copy trading portfolios before 2024-11-05 05:00 (UTC+3) to avoid potential losses.
