This is a general announcement and the products and services mentioned here may not be available in your area.
Dear user:
Binance will support the Mines of Dalarnia (DAR) token swap and rebranding to Dar Open Network (D).
Binance will stop trading and delist all existing DAR spot trading pairs (DAR/USDT and DAR/TRY) at 11:00 (GMT+8) on January 6, 2025, and will automatically cancel all pending orders. Binance will open D/USDT and D/TRY spot trading at 16:00 (GMT+8) on January 9, 2025.
General
Deposit and Withdrawal
Binance will suspend the recharge and withdrawal services for DAR tokens on January 6, 2025, at 11:30 (UTC+8). Note: DAR tokens recharged after this will not be credited, please recharge in advance;
Binance will open the recharge for D tokens on January 9, 2025, at 15:00 (UTC+8);
Binance will announce the withdrawal opening time for D tokens after the token swap and brand upgrade are completed;
After the token swap and brand upgrade are completed, Binance will no longer support the withdrawal of DAR tokens.
Binance will assist users who hold DAR tokens in their Binance accounts with any technical issues involved;
Users can refer to project announcements for more information.
Token Swap and Brand Upgrade
Binance will use D as the new token code for DAR;
All DAR tokens will be swapped for new D tokens at a ratio of 1 old DAR = 1 new D.
Spot
Binance will stop trading and delist all existing DAR spot trading pairs on January 6, 2025, at 11:00 (UTC+8);
The trading pairs to be removed are: DAR/USDT and DAR/TRY;
All pending orders will be automatically canceled after each trading pair stops trading;
Binance will terminate the trading bot service for the above spot trading pairs on January 6, 2025, at 11:00 (UTC+8) where applicable. Users are strongly advised to update and/or cancel their trading bots before the above trading bot service is stopped to avoid any potential losses;
Binance's spot copy trading will delist the above spot trading pairs on January 5, 2025, at 11:00 (UTC+8). After that, any unsettled spot trading pairs will be transferred to the spot account. Users are strongly advised to update or cancel their spot copy trading portfolios before January 5, 2025, at 11:00 (UTC+8) to avoid potential losses;
Binance will open D/USDT and D/TRY spot trading on January 9, 2025, at 16:00 (UTC+8).
Contract
Binance will automatically liquidate the DARUSDT perpetual contract on December 26, 2024, at 17:00 (UTC+8), and will delist the DARUSDT perpetual contract trading pair after the liquidation is complete. Starting from December 26, 2024, at 16:30 (UTC+8), users will not be able to increase their positions in the DARUSDT perpetual contract. To protect users' rights and minimize potential risks in extreme market conditions, Binance may implement additional protective measures for the DARUSDT perpetual contract without further notice. Potential protective measures include but are not limited to adjusting leverage and margin (including maximum leverage multiples for each tier, position limits, and maintenance margin rates), adjusting funding rates (including base rates, premium indexes, and rate caps), changing price index components, or adopting the “latest transaction price protection mechanism” to update the mark price. The relaunch time will be announced separately;
Starting from December 26, 2024, at 17:00 (UTC+8), Binance's funding rate arbitrage bots will close all arbitrage strategies for DARUSDT trading pairs and automatically settle the positions.
Leverage
Binance's cross-margin and isolated margin leverage will remove DAR on December 27, 2024, at 14:00 (UTC+8). The DAR/USDT cross-margin and isolated margin trading pairs will be removed from the leverage platform delisted. From now on, users will not be able to manually transfer or automatically transfer the aforementioned tokens into cross-margin and isolated margin accounts. If users have outstanding debts for the aforementioned tokens, they can only manually transfer the corresponding amount of debts in those tokens and subtract the existing collateral assets in the account;
Binance's leverage trading platform will suspend the isolated margin lending services for the above trading pairs on December 19, 2024, at 14:00 (UTC+8). Binance leverage will automatically close and liquidate the isolated margin positions for the above trading pairs on December 27, 2024, at 14:00 (UTC+8), and cancel all users' pending orders for the aforementioned trading pairs. After that, the above trading pairs will be delisted from the isolated margin platform;
Binance's leverage trading platform will suspend the cross-margin lending services for the above tokens on December 19, 2024, at 14:00 (UTC+8). If users have debts and/or collateral assets in the above tokens in their cross-margin accounts, the collateral assets will be used to repay the corresponding debts on December 27, 2024, at 14:00 (UTC+8). If there are remaining assets or debts for the aforementioned tokens, the following two options will occur:
If the user only holds collateral assets of the aforementioned tokens without debts:
If the collateral risk rate (CML) is greater than 2, the aforementioned tokens will be transferred to the user's spot wallet until the collateral risk rate reaches 2. After that, the remaining portion of the aforementioned tokens in the cross-margin account will be sold off entirely;
If the collateral risk rate (CML) is less than 2, the remaining portion of the aforementioned tokens in the cross-margin account will be sold off entirely.
If the user only holds debts of the aforementioned tokens without collateral assets:
If the collateral risk rate (CML) is greater than 2, all pending orders will remain unaffected;
If the collateral risk rate (CML) is less than 2, all pending orders under cross-margin leverage will be canceled;
The system will sell other collateral assets in the user's account and buy to fully repay the debts of the delisted tokens.
During the delisting process, users will not be able to update their positions, and it is strongly recommended that users close their positions and/or transfer assets from the leverage wallet to the spot wallet before the above trading pairs stop leverage trading, i.e., before December 27, 2024, at 14:00 (UTC+8). Binance will not be responsible for any potential losses;
It is recommended that users with Binance unified accounts transfer the aforementioned tokens from the leverage account to the spot account and replenish the margin balance (if applicable) before December 27, 2024, at 14:00 (UTC+8). Users should closely monitor the unified account's maintenance margin rate (uniMMR) to avoid any potential liquidation that may result from the removal of the aforementioned trading pairs from the leverage wallet;
Starting from December 27, 2024, at 14:00 (UTC+8), users using the unified account mode will have their DAR balance in the cross-margin wallet 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 created during the asset conversion process. For more information, please refer to FAQs;
The relaunch time will be announced separately.
Staking Borrowing
Binance's staking borrowing (flexible rate) and VIP borrowing will remove DAR from the list of borrowable and collateral tokens at 11:00 (UTC+8) on December 26, 2024, and automatically close and liquidate any outstanding orders for the aforementioned tokens as borrowing or collateral tokens. Users are strongly advised to repay their borrowed tokens before 11:00 (UTC+8) on December 26, 2024, to avoid potential losses;
Please refer to Binance's staking borrowing (flexible rate) and Binance VIP borrowing FAQs for more information. More details can be found in Binance staking borrowing and VIP borrowing terms and conditions.
Principal Guaranteed Earnings
Binance will cease to offer DAR flexible products on December 30, 2024, at 11:00 (UTC+8), and users will not be able to continue to subscribe;
The DAR flexible product positions held on Binance's principal guaranteed earnings platform will be automatically redeemed and returned to the user's spot wallet along with accumulated rewards after 11:00 (UTC+8) on December 30, 2024. Users can also choose to redeem their DAR assets from the principal guaranteed earnings flexible product themselves before that time;
After 16:00 (UTC+8) on January 9, 2025, Binance's principal guaranteed earnings will assist users in subscribing to the corresponding D flexible products according to the aforementioned conversion ratio.
Binance Pay
Binance Pay will remove DAR on December 27, 2024, at 11:00 (UTC+8).
Gift Card
Binance will stop supporting the creation of DAR gift cards on January 6, 2025, at 11:00 (UTC+8).
Users can redeem DAR gift cards before January 6, 2025, at 11:00 (UTC+8), but the DAR tokens redeemed by users may be automatically converted to the new D tokens;
After January 6, 2025, at 11:00 (UTC+8), all unredeemed DAR gift cards will be automatically converted to new D tokens.
Flash Exchange
From 10:00 (UTC+8) on December 27, 2024, to 10:00 (UTC+8) on January 6, 2025, the above tokens on Binance's flash exchange trading platform will be in sell-only mode. Binance's flash exchange trading platform will delist the above tokens and all related trading pairs on January 6, 2025, at 10:00 (UTC+8).
Dollar-Cost Averaging
Binance's dollar-cost averaging will remove DAR on December 26, 2024, at 10:00 (UTC+8). Users can choose to cancel the plan in advance. Otherwise, the next cycle for the tokens will fail.
Small Asset Conversion
Small asset conversion will remove DAR on January 5, 2025, at 10:00 (UTC+8). It is recommended that users convert small assets in advance.
One-Click Buy & Sell
Binance's one-click buy & sell trading platform will remove DAR and all related trading pairs on December 26, 2024, at 10:00 (UTC+8).
Note: There may be discrepancies 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 support of Binance!
Binance Team
December 19, 2024
