Binance Will List Polkadot (DOT) & Support 1:100 Redenomination Plan

2020-08-18 13:31

Fellow Binancians,

Binance will list Polkadot (DOT) and open trading for DOT/BTC, DOT/BNB and DOT/BUSD and DOT/USDT trading pairs at 2020/08/18 11:00 PM (UTC).

Users will be able to start depositing DOT after Polkadot block #1,205,128 (approximately 2020/08/18 4:40 PM (UTC)) in preparation for trading.

DOT Listing Fee: 0 BNB.

Important notes

DOT transfers on the Polkadot network will be enabled at block #1,205,128, currently estimated to occur approximately 2020/08/18 4:40 PM (UTC).
Based on Polkadot’s first stakeholder vote, all DOT tokens will be redenominated by a factor of 100 at block #1,248,328, estimated to occur at 2020/08/21 4:40 PM (UTC).
To support the redenomination plan, all DOT deposits made to Binance after block #1,205,128 will be multiplied by a coefficient of 100. For example, if a user deposits 10 DOT, they will be credited with 1,000 DOT to their account.
All users that already successfully claimed their DOT tokens directly on Binance will also have their balances multiplied by a coefficient of 100 prior to trading.
Given the above, the DOT tokens traded on Binance will only be the post-redenominated DOT tokens.
DOT withdrawals will open after the redenomination occurs at block #1,248,328, when we determine the redenominated network to be stable.
Only DOT deposits made between block #1,205,128 and block #1,248,328 will be multiplied by a coefficient of 100.

What price is DOT expected to be on Binance given the redenomination?

With the current market price of pre-redenominated DOT at approximately $370 USD, the market price of post-redenominated DOT on Binance may be around $3.70 USD, assuming the price does not change.

Please ensure that you undertake sufficient risk assessment when trading newly listed tokens, as they are often subject to high price volatility.

Details:

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

Thanks for your support!

Binance Team

2020/08/18

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