Binance Will Support the Stratis (STRAX) Token Swap and Redenomination Plan

Fellow Binancians,

Binance will support the Stratis (STRAX) token swap and redenomination plan.

General 

• Deposits and Withdrawals

  • At 2024-03-20 03:30 (UTC), deposits and withdrawals of old STRAX tokens will be suspended. Please ensure that you leave sufficient time for your old STRAX token deposits to be fully processed prior to this time. 

  • Binance will make a separate announcement after the event is completed to notify users when deposits and withdrawals of new STRAX tokens will be opened.

  • After the event is complete, deposits and withdrawals of old STRAX tokens will no longer be supported.

• Binance will handle all technical requirements for users who are involved in this event.

• Users may refer to the announcement from the project team for more information.

Token Swap and Redenomination

• All old STRAX tokens will be swapped to new STRAX tokens at a ratio of 1 old STRAX = 10 new STRAX.

Futures

• Binance Futures will adjust the leverage and margin tiers of the USDⓈ-M STRAXUSDT Perpetual Contract at 2024-03-08 10:30 (UTC), as per the table below. Existing positions opened before the update will be affected. It is strongly advised to adjust the position and leverage prior to the adjustment in order to avoid any potential liquidation.

• At 2024-03-15 08:30 (UTC), Binance Futures will suspend trading for the USDⓈ-M STRAXUSDT Perpetual Contract. Please note that users are allowed to close any existing positions after this time.

• At 2024-03-15 09:00 (UTC), Binance Futures will close all positions, conduct an automatic settlement and cancel all pending orders on the USDⓈ-M STRAXUSDT Perpetual Contract, and delist this contract after the settlement is complete.

  • Users are advised to close any open positions prior to 2024-03-15 09:00 (UTC) to avoid automatic settlement. Please refer to the delisting process of futures contracts for more details.

  • A separate announcement will be made for relisting. Binance Futures may undertake additional protective measures, including but not limited to adjusting the margin tiers including maximum leverage value, position value and maintenance margin in each tier, updating the funding rates including the interest rate, premium, capped funding rate and settlement frequency, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.

Margin

• Binance Margin will delist the STRAX/USDT cross margin pair, as well as the STRAX/USDT and STRAX/BTC isolated margin pairs at 2024-03-15 06:00 (UTC). 

  • At 2024-03-12 06:00 (UTC), Binance Margin will suspend isolated margin borrowing on the aforementioned isolated margin pair(s). 

  • At 2024-03-15 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement and cancel all pending orders on the aforementioned cross and isolated margin pair(s). These pair(s) will then be removed from Margin. 

• 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 2024-03-15 06:00 (UTC). Binance will not be responsible for any potential losses. 

• A separate announcement will be made for relisting. 

Loans

• At 2024-03-18 03:00 (UTC), Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for STRAX. Users are strongly advised to repay their outstanding STRAX loans before 2024-03-18 03:00 (UTC) to avoid any potential losses and the 2% liquidation fee.

• Please refer to the Binance Loans (Stable and Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions.

Binance Pay

• At 2024-03-18 03:00 (UTC), Binance will remove STRAX from the list of supported cryptocurrencies on Binance Pay.

Earn 

• At 2024-03-19 01:00 (UTC), Binance Simple Earn will cease support for STRAX Simple Earn Flexible Products, and subscriptions will no longer be available. 

  • For existing subscriptions, STRAX balances in Simple Earn will be automatically redeemed and credited to users’ Spot Wallets after 2024-03-19 04:00 (UTC). Binance Simple Earn will assist impacted users in recreating the same Flexible Products positions with STRAX after the event is complete.

  • Users may also choose to redeem their assets from STRAX Flexible Products anytime before 2024-03-19 04:00 (UTC).

Spot

• At 2024-03-20 03:00 (UTC), Binance will delist all existing STRAX spot trading pairs (i.e., STRAX/BTC, STRAX/USDT and STRAX/TRY) and cancel all pending STRAX spot trade orders. 

• Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-03-20 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.

• At 2024-03-28 08:00 (UTC), trading will open for the STRAX/BTC, STRAX/USDT and STRAX/TRY spot trading pairs. 

• In addition, to provide users with a better trading experience, Binance will remove the old candlestick charts for STRAX trading pairs on the spot trading page, effective from 2024-03-20 03:00 (UTC). With this update, users will no longer be able to use GET /api/v3/uiKlines to access old candlestick data on STRAX spot trading pairs.

• Please note that users can continue using GET /api/v3/klines to access all candlestick chart data for STRAX spot trading pairs, including those before the token swap and redenomination. The full market data is also available here. For more details and updates, please refer to our API Changelog.

Gift Card

• At 2024-03-20 03:00 (UTC), Binance will no longer support the creation of STRAX Gift Cards.

  • While users may proceed to redeem any unredeemed STRAX Gift Cards for STRAX tokens before 2024-03-20 03:00 (UTC), the redeemed tokens will be subject to automatic conversion to new STRAX tokens.

  • After 2024-03-20 03:00 (UTC), all unredeemed STRAX Gift Cards will be automatically converted to new STRAX tokens.

Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-03-08

Note: This announcement was updated on 2024-03-11 to clarify that Binance will remove the old candlestick charts for STRAX trading pairs on the spot trading page at 2024-03-20 03:00 (UTC), instead of 2024-03-28 08:00 (UTC). 

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

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