Full details about #Busd Delisting
I make a 25 Bullet Points For Easy Understanding.
1. Binance announces a gradual cessation of BUSD (Binance USD) product support.
2. Paxos halts new BUSD minting, prompting Binance's decision.
3. BUSD will always be backed 1:1 by USD, ensuring stability.
4. Users urged to convert BUSD assets to other Binance assets before February 2024.
5. Trading BUSD for FDUSD encouraged with zero fees until October 31, 2023, at a 1:1 ratio.
6. BUSD spot and margin trading pairs to be gradually delisted.
7. BUSD borrowings on Cross Margin suspended from September 7, 2023.
8. Cross Margin and Portfolio Margin users can't add BUSD as new collateral from October 19, 2023.
9. Withdrawals of Binance-Peg BUSD tokens cease on various networks from September 7, 2023.
10. Deposits/withdrawals of BUSD (ERC-20) tokens via Ethereum network continue until further notice.
11. Manual conversion of BUSD to FDUSD at 1:1 ratio allowed until October 31, 2023, via Binance Convert.
12. After October 31, 2023, users can convert BUSD to FDUSD at market rates using Binance Convert.
13. BUSD-margined perpetual contracts in futures gradually delisted.
14. Users can manually convert BUSD balances in the futures wallet to other supported assets.
15. Simple Earn Flexible Products stop offering BUSD subscriptions from October 13, 2023.
16. Auto-Invest BUSD plan subscriptions discontinue from September 20, 2023, automatically updating to FDUSD plans.
17. Liquid Swap gradually delists BUSD liquidity pools.
18. Dual Investment supports BUSD until December 31, 2023, without new subscriptions thereafter.
19. Flexible DeFi Staking closes all outstanding BUSD positions, returning assets to users by September 14, 2023.
20. BUSD delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan from September 6, 2023.
21. BUSD delisted as a collateral asset from Binance Loans (Stable and Flexible Rates) from September 6, 2023.
22. BUSD delisted as a collateral asset from VIP Loan from December 13, 2023.
